Bitcoin is the #1 digital currency today, backed by a bustling market of increasingly growing investor base. Created in 2009, BTC assures so much prospect that some of the market experts have readily placed it higher to gold in the contemporary investment market. As per the reports, Bitcoin has experienced a whopping 200 USD enhancement in value in the last few weeks. No wonder you too would be looking forward to try your luck with this extremely popular crypto currency.
The Bitcoin traders would have to buy the Bitcoins to trade with the famous digital currency. There are varied avenues to buy the Bitcoins.
Peer-to-peer trading
As Bitcoin is originally a peer to peer digital currency, P2P BTC trading is a viable way to buy the Bitcoins. There are many Bitcoin traders around from whom you can buy the Bitcoins with hard, cold cash, just like you do for other regular purchases. It is also called OTC or Face-to-Face trading. Depending on your P2P BTC seller, you might need to pay a handy premium which is like 5 to 10 percent over exchange price, for privacy & convenience. A reputed trader would generally negotiate price prior to meeting- they usually don’t wait longer as BTC prices are infamous for drastic fluctuations. Most of the sellers appreciate non-reversible cash.
Now, you must be wondering that how to get in touch with these sellers? Well, you can search for the local Bitcoin sellers on the social networking sites. Moreover, the popular classified sites would be a handy help in this case.
If you are looking for anonymity and a faster procedure, P2P BTC trading is the option for you. Just make sure that P2P Bitcoin trading is considered legal in your area. The P2P Bitcoin trading started to flourish since last year. Some of the major cities host open-air events where buyers can walk in, purchase the Bitcoins & the walk away.
One thing to remember here- if you are into a sizeable trade involving huge lot of money, try to meet up in some bustling public place- of course guarded with all precautions taken while walking with considerable cash. Try to avoid meeting on some private place in such situations.
Bitcoin ATMs
Bitcoin ATM is a very convenient way of buying Bitcoins. In this case, you will insert the cash & receive paper receipt carrying codes required to load BTCs in your wallet. A wallet is the place where you would be storing the new Bitcoins. It could be a software BTC wallet stored on computer hard drive while it can also be a web-based service.
Web based exchange portals
There are a great lot of web based exchange portals today from where you can buy the Bitcoins. Some of them are say full-blown exchange platforms which allow trading between the paper-fiat currencies & several other crypto currencies whilst some others are just wallet services with a handful of restricted trading options. It should be stressed here that the web based exchange portals are the ultimate options if the trader is interested in regular Bitcoin trading & speculation. Would you be fine with no strict anonymity? Would you be okay with elaborate setup procedures? Well, if the answer is yes to both the questions, the online exchange platforms are the most appropriate platform for you when it comes to buying Bitcoins.
It must be noted here that the internet digital currency exchange platforms generally ask the traders to supply elaborate contact data as well as identity proof- that elongates the process of registration with these exchanges. But this is to ensure a legitimate and safe transaction both on the part of the exchange portal online and the trader.
As you register with an exchange portal and create your account with it, you would usually have to link the exchange account with your bank account- to shifty the funds through wire transfer. Some of the exchange portals allow the traders to go for an in-person deposit through human tellers.
However, it’s to stress here that a prospective Bitcoin trading depends on how much you update yourself on the crypto currency world.Â
