Bitcoin has been around for a while now, and its popularity keeps growing. In fact, it’s even become a viable investment option! But buying bitcoin isn’t as simple as investing in other assets like stocks and bonds. Here are some ways you can buy and invest in bitcoin
Buy Bitcoin In Less Than 20 Minutes
There are many ways to buy Bitcoin. Here, we’ll discuss some of the most popular options that you can use in your country.
- Buy Bitcoin with a credit card
- Buy Bitcoin with a bank account
- Buy Bitcoin using cash or debit card (the fastest method)
- Buy Bitcoin using PayPal, bank transfer or gift cards
How To Make Your First Purchase
- Pick a Payment Method
The first step in buying Bitcoin is to select a payment method. You can use cash, bank transfer or credit card to purchase your crypto coins. If you have your wallet set up on an exchange, then this payment option will be available to you automatically and there is no need for additional verification or identification procedures. However, if you are going through an independent broker, then he will require some form of identification from you before he allows the purchase.
- Choose Your Bitcoin Wallet
Once the transaction has been made and processed by the exchange or broker that sold them to you (which may take up 24 hours), they will appear in your wallet address after being confirmed by network miners who check their validity every 10 minutes on average before adding it as part of public ledger blockchains (a database containing all transactions ever made).
How To Invest In Bitcoin
To buy and sell bitcoin, you’ll need to open an account with a cryptocurrency exchange. The two most popular are Coinbase Pro and binance. Both exchanges let you buy or trade for Bitcoin or Ethereum (another popular cryptocurrency) with fiat currency like US dollars, Canadian dollars, Euros or British pounds.
To do this, you must first verify your identity by submitting ID documents such as your driver’s license and passport along with a selfie taken in front of a piece of paper with “Verified” written on it. Once approved, you can then deposit money into the exchange using options like credit cards or bank transfers.
It’s important to note that while this is the most common method of buying Bitcoin online in Canada right now due to its ease of use (especially compared to other decentralized exchanges), there are other ways that may be better suited depending on what type of person you are:
Buy bitcoin with cash anywhere around the world – LocalBitcoins lets users set their own prices for buying/selling bitcoins using various payment methods including Paypal& Western Union transfer).
Invest by lending money through peer-to-peer platforms – This option requires less initial outlay but comes with greater risks since borrowers may default on loan payments leading investors’ funds being lost completely if not insured properly (iBankCoin does not recommend doing this).
