With the rapid digitalization all over the world, fiat currency is getting replaced by digital currency, better known as cryptocurrency. There are different types of cryptocurrencies in the market, but bitcoin is the most popular and valuable one. You can visit https://bitcoin-champion.app to trade bitcoins conveniently.
Everyone wants to buy bitcoins as it a profitable investment too because of its massive market value, but there are few people only who know how to buy bitcoins. If you have any confusion, some of the best ways to buy bitcoins are mentioned in the following paragraphs.
Credit or debit cards
If we talk about traditional payment methods, one of the most popular payment options is credit and debit cards. If you have a credit card, you can simply use it to buy bitcoins online. Most of the well-reputed bitcoin exchanges accept credit card payments which makes it highly convenient to buy bitcoins over the Internet. It is one of the simplest and quickest ways to purchase bitcoins as minimum information is required, and the best part is that bitcoins are instantly transferred to your wallet as the transaction is completed. If you don’t like waiting and want to buy bitcoins quickly, a credit/ debit card is the perfect option for you.
If you are using a credit/ debit card for buying bitcoins, you must be aware of its drawbacks too. First of all, credit cards charge higher transaction fees which will increase the cost of buying bitcoins. Moreover, it requires you to reveal your personality as well as financial information, which makes it impossible to purchase bitcoins without revealing your identity.
Direct bank transfers
Credit cards charge a hefty amount of fees, so if you want to buy bulk bitcoins, you may have to pay a massive amount as charges. If you want to purchase several bitcoins at an affordable rate, you must use bank transfers. Bank transfer is one of the most affordable payment methods that you can use to buy bitcoins. The buying limits offered by this method are higher, and the fees are quite low, which makes the best payment method. It allows you to buy bitcoins in large quantities without paying hefty prices, which helps to save a lot of money.
If we talk about the cons of buying bitcoin with bank transfers, the most prominent one is that you won’t be able to purchase bitcoins on bank holidays. Moreover, banks have fixed working hours, and you will have to make the purchase within those hours only. Banks keep a proper record of all your transactions. If you want to buy bitcoins anonymously, it is not the right method to use. It is an excellent option even if you want to make a small bitcoin investment.
If safety and privacy is your priority, there is no better way than buying bitcoins with cash. You can simply find a seller and pay him with cash for the bitcoins. The bitcoins will be transferred to your wallet in few hours, and it will also allow you to stay anonymous as no one would be able to trace you through your transactions. One of the most incredible benefits of buying bitcoins with cash is that there is no need to provide any personal information, which allows you to enjoy an excellent level of privacy.
Usually, you need to wait for few days to process a transaction using other payment methods, but with cash, you can buy bitcoins instantly as there is no involvement of any bank or financial authority. The only issue with it is that if you use cash for buying bitcoins, you may have to pay 5% to 15 higher than the market price.
One of the most unique and latest ways to buy bitcoins is the bitcoin ATM. Bitcoin ATM is like a bank ATM that you can use to buy bitcoins for cash. You can simply deposit some money into it and buy bitcoins. It is quite quick, convenient, and offers fantastic privacy. The price may be a bit higher as you are using cash for buying bitcoins. It is the most private way to buy bitcoins, so if you want maximum privacy while buying bitcoins, paying a bit higher price also is worth it.