Anyone wondering how to buy Bitcoin with cash, credit, debit, or any other payment method has a few available options. Although the Bitcoin craze hit a bit of a wall last year, things are looking up for this cryptocurrency. Which is why more people than ever are back in the crypto game and looking to buy some bits.
Step 1: Sign Up for a Bitcoin Wallet
The very first step of investing in Bitcoin is to sign up for a Bitcoin wallet. One of the most popular wallets is CoinBase, but there are many to choose from. In order to sign up, you’ll need to create an account and verify your personal details. Even though you’ll be making transactions to accumulate Bitcoin, most wallets don’t require you to upload and verify a picture of an ID, while others will.
Most of the leading Bitcoin wallets have offer logins through web browsers as well as mobile apps. Just go to your phone’s app store and search for the wallet you’re hoping to use. The app download should take a matter of seconds. As soon as you create an account, you’ll be able to go to the next step for buying your bits.
Step 2: Use Your Local Currency to Buy Bitcoin
Buying Bitcoin is a lot easier than it used to be. Not only is it easy in the sense that you can use an app to make Bitcoin purchases, but you can also choose from a variety of payment methods. Buying Bitcoin is now possible with credit, debit, cash, or bank transfer. As soon as you go through the payment process, the transaction will be completed within a matter of seconds.
For larger Bitcoin purchases, it might take a bit longer for the transaction to go through. This is for your own good, though, and it meant to prevent fraud. It’s also important to keep in mind that the available payment methods depend on your local jurisdiction. In general, every country where Bitcoin purchasing is legal allows for payment through credit, debit, cash, and bank transfer.
Another important thing to keep in mind is that Bitcoin wallets are now accepting payments for a variety of cryptocurrencies. Some of these include Dash, Ethereum, and Litecoin. When you make a transaction, you’ll often be required to select the crypto you’re hoping to buy, so be sure you choose the right one.
Step 3: Download a Bitcoin Exchange for Storing Your Funds
It is highly recommended that you don’t keep your Bitcoin or other cryptocurrency funds stored in your crypto wallet. These platforms are meant for buying, selling, and trading only. They do not have the same security features as Bitcoin exchanges, which is the ideal place to keep your currency stored. Moving your money from a wallet to exchange is simple enough. First, you’ll have to download an exchange platform, such as Jaxx. Then follow the steps provided to move the money from one source to another. Easy, right?