How Do You Buy Bitcoin?

How Do You Buy Bitcoin?

The are dozens of reputable Bitcoin exchanges around the world. The easiest way for a U.S. Citizen to buy Bitcoin is through Coinbase has an easy to use interface similar to online banking. Create an account, link your checking account or credit card and you’re ready to go! You can also sell Bitcoin for U.S. Dollars directly to your checking account.

bitcoin litecoin ethereum coinbase buy sell

You can buy Bitcoin, Ether, and Litecoin on Coinbase

Bitcoin is divisible, so you’re free to buy a small fraction of a Bitcoin. Fees on Coinbase are about 1.5% if you pay with a checking account and 3% if you pay with a credit card. The total amount you can purchase is also much lower for credit cards. You’ll lock in the current BTC price at the time of purchase, but it will take 5+ days for funds to show up in your account. Why? because fiat money is slow! New accounts will have purchase and withdrawal limits that can be increased by providing additional information (drivers license, SSN). Your account limits may also increase over time.

buy coinbase bitcoin

Buying on Coinbase

Coinbase currently has over 10 million users, and that number is growing fast! Check out this link for more information.

As an alternative to Coinbase, there are other exchanges like Kraken. It may take a little longer to get verified, but Kraken offers a handful of other cryptocurrencies for purchase as well.

As you familiarize yourself with Bitcoin, you may want to move your coins to a private wallet. In the meantime, Coinbase and Kraken are trustworthy exchanges that have received millions in venture capital funding and have great reputations, other than infrequent site outages due to an overwhelming increase in users.

If you hold your coins on an exchange, make sure that their USD is FDIC insured. Many exchanges also back their cryptos with insurance, or hold their coins in cold storage for extra security.

Next: is Bitcoin a good investment?

Contact us to learn how to reduce fees and safely store your bitcoin!

%d bloggers like this: