Buying Bitcoin in 2023?- All You Need To Know

buying bitcoin

Are you looking to start buying Bitcoin in 2022?

Then you’ve come to the right place.

You can try different types of trading methods to invest in bitcoin.

For example, you can use an exchange, an online platform where cryptocurrencies are available for sale, or you can simply buy your coins through Bitcoin ATMs.

But how would you make a transaction with fiat currency?

You need to link your bank account or debit card with your crypto wallet or account to buy bitcoin with fiat currency.

Now, you can also buy coins and crypto tokens with PayPal. 

You can create a PayPal account free of cost, and you can link your PayPal with your crypto account to buy bitcoin.

Else, you can directly invest in bitcoin through PayPal.

You can simply create an account on PayPal and then use it to buy Bitcoin.

You can find a crypto button on your PayPal dashboard, and you can place an order to buy bitcoin directly from your PayPal dashboard.

Like other exchanges, PayPal will charge a transaction fee for buying and selling crypto through PayPal.

Moreover, there is no minimum limit, and you can start your investment with $1.

You can also try trading platforms to buy bitcoin, like this btc system

Buy bitcoin with your credit card

You can link your bank account or debit card with your crypto account and wallet to buy bitcoin with fiat currency.

On the conventional monetary exchange platforms, one has to pay higher transaction fees or processing fees.

But now there are some exchanges available that accept credit cards too.

You can link your cards with your crypto account and buy bitcoin with your credit cards. 

Apart from that, you need to pay more as a transaction fee for buying bitcoin if you use an international exchange.

For example, if you are a citizen of the United States and want to use an exchange based out the side of the U.S, then you need to pay an international transaction fee.

It can vary between 10% to 30% of your total purchase value. 

Since Bitcoin exchanges are newly emerging, you will find a plethora of information out there, so you need to figure out which is the best one for your objective.

Make sure you check the credit card issuer’s policy before you use it to buy bitcoin because there are some credit cards available that do not allow you to purchase bitcoin with their cards.

For example, you cannot make transactions or buy bitcoin with American Express credit cards. 

Apart from credit cards and PayPal, you can also use alternative payment methods to buy bitcoin.

For example, you can use bitcoin ATMs for buying bitcoin with your fiat cash.

You can step into an ATM and scan the QR code available on your bitcoin wallet to make a transaction.

If you do not have a wallet, you need to carry your ID proof and verify your identity by entering your phone number and ID proof number in an ATM.

Once your identity is verified, you can buy bitcoin from an ATM, and you will get a printed receipt with instructions.

You can follow these instructions and transfer your bitcoin to your wallet. 

There are limited numbers of ATMs available, and it is hard to find an ATM in your nearest locations.

There are some trusts available like GBTC, where you can find some investment plans and invest your funds in different digital assets.

In this case, you can choose an investment trust to buy bitcoin. 

There are some retail stores available where you can use your coins for buying goods.

You can buy bitcoin gift cards from these retailers and log in to their partner exchange to redeem your cards.

You can also buy gift cards and use such cards on online platforms to buy bitcoin.

One can complete your purchase by creating a crypto account, and you can use your cards to buy bitcoin. Your coins will be credited to your bitcoin wallet. 

 Concluding thoughts

You can buy bitcoin through exchanges because you can pay fewer transaction fees to buy bitcoin through these platforms.

Else, if you do not want to go through a completed KYC process, then you can simply use your PayPal account to buy bitcoin. 

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