There are times when you may need to get your hand on some Bitcoin quickly. This can be for a variety of reason, maybe you need to purchase something online and the online store only accepts cryptocurrency, or maybe the price has recently crashed and you want to get your hands on some cheap coins before the price shoots up again.
In these instances, it can be difficult to decide the fastest way. We’ll go over the top 3 quickest ways to buy Bitcoin.
Online Exchanges
Online Exchanges. Although this isn’t the fastest method on the list, it is still by far the most popular just for the sheer convenience that you don’t have to leave your home.
However, not all of the online exchanges are quick. Quite a lot of online exchanges can take hours or even a couple of days for your money to clear – it all depends on what bank transfer systems in place.
You need to find an exchange that allows instant bank transfers and these types of exchanges tend to be country specific. For example, in Australia there is an exchange called CoinSpot, which is known for their instant online transfers, and being in Australia, they only allow the use of Australian dollars. For a CoinSpot review, see here.
Bitcoin ATM Machines
Bitcoin ATMs. Bitcoin ATMs are a great option if you have one near your home. You use it just as you would a normal cash ATM – you choose the amount of Bitcoin you want, and then the machine will send the coins to your wallet.
They generally don’t require any type of sign up process like an exchange, which normally slows down your purchases if you have never used them before.
LocalBitcoins – Person To Person Exchange
LocalBitcoins. LocalBitcoins is a good option if you live in a very populated city (this means that there will be more people there to trade coins with). With LocalBitcoins, it’s kind of like a Craigslist for cryptocurrencies – you sign up and then browse all the coins that people have for sale. And as the name suggests, all the people are local to your area. Once you’ve found someone reputable to purchase from, you meet up with them and make the transaction.
When using LocalBitcoins, remember to make the transaction in a very public place – and take someone with you feel the need for extra security.
Although you don’t hear of it very often, there have been instances of people having conterfiet money handed to them in exchange for the Bitcoin and not realising that it was counterfeit until much later. This is why it is important to also use only trusted sellers on the exchange that have a good reputation.
These are our top 3 ways to quickly buy Bitcoin. Do you have a faster way? Let us know!
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