Where Can I Buy Bitcoins?

where can I buy bitcoins

Many people have heard about Bitcoin, at least among those that use internet. There are still so many others that have not known about it. However, one of the questions that those of us who are Bitcoin enthusiasts get asked every time is “Where can I buy bitcoins?”

There are many options available in buying bitcoins and all work just well depending on your location and how you intend to pay for your bitcoin.

Coinmama

One of the places you can conveniently buy Bitcoin is Coinmama. Coinmama allows you to buy Bitcoin using VISA and MasterCard. The platform also gives you the opportunity of buying high volume of the digital currency as a verified user.

The advantage of using the platform is that you have a high limit of purchase immediately your ID is verified. There are several digital currencies available aside Bitcoin.

Purchases of digital currencies are instant and you should receive the coins in a very short time making Coinmama one of the best platforms to buy Bitcoin.

A customer support is one thing you need when making purchases online. Coinmama boasts a customer support that makes communication easy if you have any queries while using the platform.

The process of buying bitcoin here is very easy. Just sign up and go through the verification process, have your wallet confirmed and you’ll be ready to make your purchases in minutes.

That you can make purchases using your credit card makes it convenient to use this platform. The verification of ID is strictly compliance issue. Coinmama guarantees that your data is safe with them.

Paxful

This is a decentralized exchange where you can buy bitcoin. The best feature of this exchange is that it offers a wide variety of payment options that enables you to buy bitcoins cheaply.

Some of these options available are gift cards, cash deposit, online transfers and many others.  Irrespective of your country, you should check up Paxful. It is one of the most convenient platforms I’ve seen for buying bitcoin.

For instance, it always is a tough call getting a platform where you can use PayPal to buy bitcoins but with Paxful it’s as simple as it gets.

Paxful Has Privacy Options

Depending on the volume of bitcoins you want to purchase, Paxful has provision for you to make a purchase without submitting your ID. The platform has 300 payment methods for buying bitcoin. This means that wherever you are, there must be an option that suits you just fine.

There is even a provision for intra-country purchase through bank transfers and the use of gift cards such as Steam wallet and Amazon gift cards.

Paxful has one of the favorable pricing for bitcoin transactions and has great potentials as an exchange due to the available options in trading using the platform.

One interesting option in buying or selling bitcoin at Paxful is the person to person trade in which you can meet the seller who fixes the venue of the trade if you are in the same city. This option though convenient to some is fraught with risks.

If you must meet a person to buy bitcoin meet them in a public place and be safety conscious. People are known to have lost their lives for bitcoin so this is one option you must avoid unless absolutely necessary.

Alert: There have been several scam allegations against Paxful, so it is advisable that you be wary in using it.

Binance

Binance is the biggest exchange in terms of volume. the china based exchange has been receiving positive reviews because it made trading of digital assets easy and cheap.

It is used by people all over the world because it is the dream of the crypto trader with its support of more than 100 coins. The exchange recently added support for Dogecoin, the popular meme crypto. It also announced the launch of Binance 2.0 which would enable margin trading.

Binance was launched in 2017 by Changpeng Zhao, a Hong Kong based developer. The Binance coin which is the internal currency of the exchange can be used to make payments or trade on the platform. There’s option to trade many cryptocurrency pairs on the exchange as well as buy bitcoin.

The platform is made for new, regular and advanced users as seen from its easy to use interface. If crypto to crypto trading is your thing, you should take advantage of the services offered by Binance.

Know More About Bitcoin

where can I buy bitcoinsIf you are interested in knowing more about Bitcoin a summary is that it is a form of digital money that you cannot touch the way you touch normal money, rather it is money that is stored in wallets in a computer.

This type of money is valuable and recognized as such by the people that use it. These mainly are individuals and businesses that are conversant with Bitcoin and the benefits of using it.

Before you buy your bitcoins, it is important that you understand that although, you will not see the bitcoins physically, it can be bought and sold. It can also be stored in a wallet and used to purchase things.

All these will be done without seeing or touching the bitcoin because it is built on a technology called blockchain. The blockchain is run by and operated through a network of computers or nodes that ensure that the network is secure.

The nodes reach consensus on how bitcoins are generated. This essentially is an agreement among the nodes that ensure that every transaction made in the network is authentic and there are not people spending the same bitcoin more than once.

The network is also in charge of security to make sure that hackers do not take control of the bitcoin network.

The main advantage of blockchain the technology on which Bitcoin is built on is that it is transparent. This means that all parties to the transaction can view it to know its status.

Do you have questions or comments about Bitcoin? Ask them in the comment box below.

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Author: Jofor Humani

Peddling words has been a passion beneath the surface. I speak less than I write...naturally. Aside speaking and writing, I walk too...good for your heart they say. I sometimes do not feel like writing. Then I enjoy quiet times which I use to think and stay with family.

20 thoughts on “Where Can I Buy Bitcoins?

  1. Thanks for this informative article!
    I heard about coinmama. After buying from there should I need to place in a separate wallet or will they provide wallet?

    1. Coinmama will provide you with a wallet with which to store your bitcoins, however if you need to move it to another wallet such as a hardware wallet that is possible.

  2. Very detailed and informative article..
    so much information on bitcoin provided in this Post.. I love it..
    most of this information I didn’t even know because I not really a bitcoin or crypto person but after reading this article I have go so much insights..
    keep up the good work.

  3. I had no idea it would be that simple to purchase Bitcoins. After being blocked by my bank last year, I guess I had given up on the idea. Now that your website has taught me about Coinmama and Paxful, I am going to proceed again and invest. I think that the advantages of Bitcoins over traditional currencies are amazing. Thanks again for all of this great information.

    1. Yes Tricia, we are only beginning to see the potentials of Bitcoin as a tool for value transfer. I predict that dormant human potentials will be unlocked by this digital currency and blockchain in general. For instance, the unbanked and the limitations of international remittance services would be a thing of the past also an internet currency is a possibility today.

  4. Thanks for the great info Jofor! I think cryptocurrency and blockchains will only get bigger and more popular in the upcoming decade. I’m actually thinking about getting into the whole exchange biz (and maybe content creation centered around that) so I will definitely check out all your resources. Keep up the good work!

  5. Hi!

    I’ve heard of Bitcoin, but I never understood it’s purpose and it’s place on the web. A local store in my area has a machine where you buy and sell Bitcoins, but I never used it, because again, I don’t know what they’re for.

    Could you tell me some general information about Bitcoin?

    1. Hi Britney, Bitcoin basically is a currency that is ‘minted’ and secured on the blockchain. You can own it, store and spend it like other digital money. Its uniqueness stems from the fact that it eliminates intermediaries like the banks. This is why it is called a peer-to-peer cryptocurrency. Also, the blockchain on which Bitcoin is built is secure and unhackable. Buying bitcoin is as simple as abc these days.

    2. Hi Britney, Bitcoin basically is a currency that is ‘minted’ and secured on the blockchain. You can own it, store and spend it like other digital money. Its uniqueness stems from the fact that it eliminates intermediaries like the banks. This is why it is called a peer-to-peer cryptocurrency. Also, the blockchain on which Bitcoin is built is secure and unhackable. Buying bitcoin is as simple as abc these days.

  6. I always wondered what bitcoin was, your article has helped me understand what bitcoin is and how it works and where I can get it from, I never even heard of coinmama before, wow! l learn new things everyday.

      1. You are right Suzanne the instability is a put off to many people but you still have a good opportunity to re-enter the market now that the price is low.

  7. I had only heard of Coinmama before reading this article. I feel like Paxful would be a better option for me, as I use mostly only PayPal online. Thanks for the info!

  8. Hello JH, this is really a valuable information you got here. This is the basic information that every body needs to know in moving forward to future currencies- It all started with a bitcoin and then there’s altcoin, hope I’m right. So tell me, you forecasted that the market might hit the bottom this 1st quarter of 2019- is it going there now or has it settled already? can you give the names of company where there is a high ROI probabilities? Thanks.

    1. Hi Joyce. From the look of things, the market has stabilized with Bitcoin trading below $4000, but it is still early to make conclusions since we are still looking at the fundamental factors such as regulatory stance that could push prices lower. So the best bet is to wait out the end of January to gain more insight into price movement and direction.

  9. Bitcoin ATMs show some potential, but for the ones I’ve tried, a passport scan is required and you also have to add in biometrics like a palm or iris scan which seems a bit invasive to me. I just use Bitcoin Gift Card (.org) to buy BTC and pay by Paypal. It takes a few days for the BTC gift cards to arrive through the mail, but otherwise works great.

  10. BTC or, bitcoins, are primarily used for purchases on Dark Net Markets(DNM). For this reason alone it will always cost a bit and usually be somewhat of a pain in the ass. I’ve used Localbitcoins in the past and have been using Virwox without incident for the past 6 months. Both of these sites will cost you in fees, that’s just how it is. I’m not aware of any BTC sellers who take less than 15% on orders of under $300. Many won’t even accept under$100, which I normally don’t need to buy. Given that, Virwox let’s you deposit much smaller amounts, but they’re fees end up close to 20%. That’s basically a convenience fee. After 2 deposits are made you get your BTC within 2 hrs, the first 2 are 48 hrs. Also, you must use the same method of purchase ex.(PayPal) each time to get your BTC within 2 hrs. If you suddenly change from PayPal to a CC or something similar, chances are that you’ll have to again wait the 48 hrs. This is due to an automatic security feature of the site. It happened to me. I brought it to their attention, letting them know that it wasn’t in their FAQ or anywhere else on the site. They responded quickly and I had my BTC within 3 hrs. Basically, for convenience both localbitcoins and Virwox are good choices. Just make sure that you read the FAQ and educate yourself or you could end up in a shitty situation. If you want complete anonymity, pay with cash at the seller’s bank or in person(both of which are risky) You’re much more likely to get scammed and/or waiting a while for your BTC when you’re dealing with an individual instead of Virwox. Just make sure to check out the seller’s feedback and hopefully it all works out. There will ALWAYS be fees and other obstacles when dealing with an unregulated currency. If it’s too much to deal with maybe you should just buy your goods IRL instead. In the end, It’s all about convenience.

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