Bitcoin is the most incredible digital currency which has changed the way to make online transactions and purchases. It has incredible features that make international transactions smoother, easier and cheaper. No institution issues bitcoins, so you need to purchase them online or offline if you want some bitcoins. There are several ways to buy bitcoins, such as using the official website. There are some crucial things that you need to know before choosing a purchase method. Some of the best ways to buy bitcoins are as follows.
Which is the most convenient way to buy bitcoin?
There are numerous online platforms where you can buy bitcoins, but each one has a different user interface and offers varying levels of convenience. So, if you want to enjoy maximum convenience and ease, eToro is the perfect Bitcoin exchange for you. It is one of the most famous online platforms when it comes to trading bitcoins. It has over 10 million users, which makes it easy for your trust if you are going to purchase bitcoins for the first time. It is a well-reputed bitcoin exchange and offers a wide range of payments methods such as bank transfer, credit card, debit card, PayPal, etc., to buy bitcoins.
One of the top reasons that makes it the best online bitcoin exchange is the fees. The charges are quite low as you only need to pay around 0.75% of the total amount while buying bitcoins. Moreover, it is completely free to make deposits which helps to save a lot of money. Another unique feature of eToro is that it enables social trading, which allows you to see the strategies used by other traders and copy them.
Which payment method should you choose?
Choosing the right online platform for buying bitcoins is important, but something more important is the payment method. There is a wide range of payment methods that can be used for buying bitcoins, but every bitcoin user has different needs, and a varying payment method suits each one of them. So, if you want to choose the most suitable payment method, you need to learn about each one of them. A complete comparison between different payment methods is mentioned in the following paragraphs;
Debit or Credit card
One of the most common and popular payment methods is debit and credit card. Credit cards allow you to make quick and easy purchases as it completes a transaction within few minutes. But if you are using a credit card, you must keep on thing in mind that it has a certain buying limit, and the transaction fees and charges are also high. Moreover, credit card payments can be reversed, which increases the risks of bitcoin sellers. So, if you are looking for a fast pace and high convenience, bitcoin is an excellent option, but there are several risks involved too, which you need to keep in mind.
Another payment method that can be used for buying bitcoins is direct bank transfer. When it comes to the speed of transactions, it might not be a good option as bank transfers are quite slow, but the buying limit is high, which allows you to purchase a massive number of bitcoins with ease and comfort. It has some pros as well as cons, but if we look at its overall features, it is a highly convenient payment method. You must use a bank transfer for buying bitcoins if you want to minimize the cost and make a profitable investment in bitcoins.
If we talk about the ways through which you can buy bitcoins offline, using cash is the most common one. If you don’t have enough knowledge about online payment methods or trust them, using cash for buying bitcoins is the best option. It allows you to directly meet the bitcoin seller face to face and purchase bitcoins from him for cash. When it comes to buying bitcoins, there are several risks involved as the cases of frauds and scams are increasing with each passing day. So, if you want to avoid all such risks and purchase bitcoins efficiently, the best method is to use cash.