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Bitcoin is the most valuable cryptocurrency globally, and due to its high value, more people are getting attracted to it. If you want to make a profitable investment, you must invest your money into bitcoins. Bitcoin is a decentralized currency, so you need to know the best ways to safely buy it. Few of the safest and most popular ways to purchase bitcoins are mentioned below.
Bitcoin ATMs
If you want to buy bitcoin while being completely anonymous, there is no better option than bitcoin ATMs. A bitcoin ATM is like a bank ATM where you can directly purchase bitcoins using cash. Bitcoin ATM is a new way to buy bitcoins and it has gained massive popularity over a short period of time. If you use bitcoin ATMs to purchase bitcoins, you need to pay some commission that varies between three to eight percent of the total transaction amount. But the experience it offers is completely worth the cost.
It is quite simple to buy bitcoins using a bitcoin ATM as all you need to do is deposit cash and scan the QR code of your mobile bitcoin wallet. It will directly transfer the purchased bitcoins to your wallet or get a paper receipt with the code and instructions you can follow to transfer the bitcoins to your wallet. If you cannot find a bitcoin ATM nearby, you can use any bitcoin locator service and like this software to check if there is an ATM in your area.
Use gift cards
You must have heard that you can buy gift cards using bitcoins, but you would be surprised to know that you can also use gift cards to buy bitcoins. If you have any spare gift card with you, you can get it converted into bitcoins. There are several online bitcoin exchanges where you can find sellers willing to exchange bitcoins for gift cards. It would be best if you put some effort into finding a seller that accepts gift cards in return for bitcoins.
There are different types of sellers, and some of them may ask you for the image of the gift code and its receipt. There is a massive risk of fraud in such trades, so you should be extremely careful when using this method. It is a great way to buy bitcoins and make the best use of spare gift cards. But while buying bitcoins with gift cards, you must be careful as there is a massive risk of frauds and scams.
Bitcoin exchanges
One of the most popular and convenient ways to buy bitcoins is using online bitcoin exchanges. There are several online bitcoin exchanges, and you can easily sign up on any of them by giving your identification proof and creating an account. These exchanges are like online marketplaces where you can find several bitcoin buyers and sellers and easily purchase bitcoins. Most of the bitcoin exchanges are regulated by the government and have certain regulations so that no one can do fraud over them.
It is easy to set up an account on any bitcoin exchange and start purchase bitcoins. You can also connect your bank account to make easy payments and quick transactions. There are numerous bitcoin exchanges, and each one of them offers different features and trading options. So, you must consider all the aspects, compare all the options and pick one that perfectly fits your needs and requirements.
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Person-to-person
With bitcoin exchanges, you need to complete several formalities, documentation and deal with numerous banking complications. If you want to avoid all such hassles, you must buy bitcoin face-to-face from the sellers. You can find a bitcoin seller, meet him and complete the transaction. Few platforms allow you to find bitcoin sellers in your area and complete such transactions with great convenience. There are several bitcoin meetups in different cities where local bitcoin users meet and complete such transactions.
P2P bitcoin purchases are held in a public place, and if you are using this method to buy bitcoins, you must carry your laptop or mobile phone with you. It is necessary to check your wallet and ensure that you have received the purchase of bitcoins.