How to buy bitcoins

Q: I just found about Bitcoin. How do I get hold of some to buy from you?
A: There are several good ways! Here are a few tried and tested methods:

  • LocalBitcoins.com is a peer to peer exchange. They facilitate and secure trades between people from just every country in the world.

  • US citizens can easily buy bitcoins from Coinbase.com via bank transfer or credit card.

  • Bitcoinary.com will sell you bitcoins for PayPal.

There are easily over 150 Bitcoin exchanges around the world. To search for the most suitable exchange by location and payment method, check out this very helpful website: BuyBitcoinWorldWide.com.

Warning: once you’ve bought your coins, remember to first withdraw them to your personal Bitcoin exchange. Sending them directly from the exchange can lead to serious problems. You can open a Bitcoin web-wallet at GreenAddress.com or, for a more secure option, download an app wallet from Electrum.org.

Once you have your own wallet, withdraw your newly-bought coins from the exchange to any address within your personal wallet. Paying us from your personal wallet will allow us to identify your particular Bitcoin address. This will make payment verification a lot simpler.

Bitcoin Exchange Reviews

LocalBitcoins

LocalBitcoins advertises the offers of other traders in your country and acts as an escrow service for any trades you may conduct with them. Their rate for this service is a very reasonable 1%. The major advantage of going through LocalBitcoins is the far greater privacy. The site itself requires only an email address. Only the people you trade with will see your bank account details, if you choose to purchase through that method.

It’s also possible to find people selling bitcoins for cash through LocalBitcoins. This is the most private method of all, although it requires a face to face meeting and the rate is often a little more expensive. LocalBitcoins has been operating for a very long time and is a very popular method for finding trading partners.

CEX.io

 

Cex.io is a great exchange which has been operating for a long time without any security breaches. They offer trading across various platforms, including their site, smartphone apps, API and web socket. The exchange offers deep liquidity, which ensures you get a fair market-related price. For those who’d prefer to avoid the complexities of exchange trading, Cex also offers an instant buy option.

To sign up for Cex, you may create a new account or sign in via an existing Facebook or Google account (not recommended for the privacy-conscious). After registration and verification (which is somewhat intensive), you may fund your account via bank transfer and MasterCard or Visa credit / debit cards.

Cex offers high security, having never lost any client funds to hacks. You may further secure your account by enabling 2FA (Two-Factor Authentication), which will require authentication for fund transfers from a second device under your control. CEX also complies with Level 3 PCI Data Security Standards, meaning all your data is protected by strong encryption methods.

While CEX requires a rather in-depth verification process, including a photo of you holding your documentation, their great Euro / Bitcoin rates and excellent security make the procedure worthwhile. CEX is also very quick to process any transactions, whether in fiat or bitcoin.
 

Coinmama

 

Coinmama is another excellent option for purchasing bitcoins. They act as a Bitcoin broker in almost all countries, meaning they sell you bitcoins directly rather than allowing trading with their other clients. They require no verification for bitcoin purchases under $150. They accept credit cards and have some of the highest buying limits for this method. However, their credit card fee is rather high at 8%.

Coinbase

 

Coinbase.com makes the purchase of minor to major amounts of bitcoin a straightforward process. It operates in several countries, including the USA and UK. Holders of US bank accounts may deposit funds to Coinbase via ACH. Coinbase will also accept deposits via credit card, provided you’ve verified your identity to their satisfaction. Coinbase allows for instant purchases and also host an exchange. They provide a wallet service too but it is always advisable to use your own personal wallet.

Coinbase also provides a useful app for smartphones. This enables convenient transactions when you’re not at your desk. For example, it’s a good way to pay for things when out with your friends. Although Coinbase is known for closing accounts which send bitcoins directly from their exchange to sites they consider questionable, they are nonetheless a convenient solution for many people.