How to buy bitcoin

Updated: December 15, 2017

If you are new to the world of bitcoin and crypto currency you might be asking yourself. How do I buy some bitcoin? It might seem like a hard task, but it is not. Once you have gone through the process once you will see just how easy it is. Let´s take a look at a few options out there for buying bitcoin.

If you are in the USA the straight forward way to buy bitcoin is with Coinbase. You will need to go through a registration process and provide them with several documents. They want to know who you are and need ID, Bills and maybe more documents. The advantage is once you are approved that you can connect your bank account and buy bitcoin really easy. You can also buy Litecoin and ETH at coinbase. In 2018 they are going to expand and offer even more altcoins for you to buy. It is one of the easiest ways to buy bitcoin and they are a well known company so the risk of them going away over night is very low.

Local Bitcoins
If you do not want to or can not connect your bank account to coinbase or another exchange then you can try out localbitcoins. This is a peer to peer exchange site where you can meet local people in person and exchange bitcoin for cash. You can also buy and sell for other online payment methods. There is quite a preimum to be paid on some of the offers but you are likely to find someone near by. Make sure to check their reputation and be familiar with how the localbitcoin escrow works. If you do not understnad what a bitcoin wallet is and have never sent bitcoin anywhere, localbitcoins is not for you. If you are ok using a bitcoin wallet and understand the basics, give it a try.
If you are in the EU then you can use . They offer peer to peer trading with SEPA payments. It might seem a little complicated at first but it is not once you have connected your bank account. You can buy and sell bitcoin with SEPA transfers. Instead of sending the money to you are sending the money directly to the person buying or selling the bitcoin, and when they get the Euro on their account they approve the transfer of bitcoin to your account. acts as the escrow for the transfer.

If you want to go to the next level then you can try out Bisq. Bisq is a decentral peer to peer version of or localbitcoins without the meeting people in person for cash part. People running the bisq nodes can communicate with each other and trade bitcoin and other crypto. There are different payment methods accepted but SEPA seems to be popular. It is worth checking out even just for fun.

Not sure which one is the best for you? Send us a message and we can help.