So you want to buy Bitcoins. Bitcoins are one of many trendy cryptocurrencies sold on the
internet today. Whether you’re totally new to Bitcoins or you’re just looking for the best
BTC exchanges, we’re here to help you make the smart choice.
Once you have found the right exchanger, buying is simply a case of spending money with your
credit card or with a bank transfer. It might be best to stay away from sites that require
international bank transfers, since they can hold up the process.
How to Buy Bitcoins
Buying Bitcoins is simple. Here’s the basic process you’ll need to follow:
Step 1) Find a Bitcoin exchange
Step 2) Trade a currency (like US Dollars, Euros, or RMB) for Bitcoins
Step 3) Transfer your Bitcoins to a secure Bitcoin wallet
Cryptocurrency exchanges are websites where you can buy, sell or exchange cryptocurrencies for other
digital currency or traditional currency like US dollars or Euro. For those that want to trade professionally
and have access to fancy trading tools, you will likely need to use an exchange that requires you to verify
your ID and open an account. If you just want to make the occasional, straightforward trade, there are also
platforms that you can use that do not require an account.
A Bitcoin exchange, by the way, can also be as simple as an ATM. Pretty much every major city
in the developed world now has at least one Bitcoin ATM. Other Bitcoin exchanges can be found online.
Check out the following exchangers to buy bitcoin online:
How to Sell Bitcoins
Selling bitcoins is not much different from buying bitcoins. Finding a Bitcoin exchange or trading partner
that will pay you with your desired payment method is the first step. From there, you can complete a trade
to sell your bitcoins. There are three ways to get cash for bitcoins::
Sell bitcoins in person for cash
Sell bitcoins at an ATM for cash
Sell bitcoins online for cash deposit
If you want to trade direct with another person online you can do it via
Local Bitcoins and even choose to
meet the person directly by arranging a time and location to meet up and swap your Bitcoins for cash. Other
exchanges/wallet hybrids can allow you to exchange Bitcoins internally in their ecosystem through mediating
a price chosen through analysing the market and its midpoints – so essentially a zero commission zero spread
exchange. Coinbase is an example of this.