Already few days ago we reported in a blog post that bitcoin is breaking new records from week to week. More and more people are jumping on the crypto bandwagon. If you believe in blockchain technology and want a bite of the Bitcoin pie, you've probably asked yourself a question or two in the last few days: How do I buy Bitcoins?
In this article, we present 5 ways to get Bitcoins.
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How do I buy Bitcoins? Top 5 variants
1. buy bitcoins via a classic online exchange
The easiest way: buying bitcoins via an online exchange.
You first have to register with an exchange. Some sites then require you to verify your identity (e.g. with your driver's license).
Once this has been clarified, you can buy bitcoins. Most online exchanges accept all credit cards when buying Bitcoin.
The largest online exchanges include:
- CEX.ioThe website was founded in 2013. The company is registered with the American financial supervisory authority and, according to various sources, places great importance on security. This includes, for example, standard 2-factor authentication. The transaction fees are also very low.
- CoinbaseThe US company was founded in 2012 and is probably the most popular trading platform for cryptocurrencies. The platform is considered secure. However, if there are too many users online, it can become overloaded.
- CoinmamaAlong with the other two websites, Coinmama is also considered a trustworthy online exchange. Transactions are usually fast and the verification process is also less complicated than Coinbase and CEX.io.
2. buy bitcoins by instant bank transfer
Not everyone can buy Bitcoins with a credit card. A fast and especially secure alternative is to buy with Sofortüberweisung.
One of the best-known European providers for this is BTC DIRECT. Also recommended: Coinfinity.co - an Austrian Bitcoin broker from Graz.
The biggest advantage of buying with Sofortüberweisung: The money is debited directly from your bank account and you have it immediately in your wallet.
3. buy bitcoins in a tobacconist's shop
Bitcoins can be purchased with a receipt in more than 4,000 tobacconists (and also gas stations).
The code on the so-called "Bitcoinbon" can then be used on the official website and you can conveniently send the Bitcoins to your own wallet.
Especially practical: Besides Bitcoins, you can also get Ether or Litecoin with the code.
4. buy bitcoins in a post office branch
The bitpanda system for Austrian Post branches works in the same way as bitcoin vouchers in tobacconists.
Once you have purchased a voucher for €50, €100 or €500, you can enter the code online at bitpanda.com/togo redeem.
The vouchers are according to Futurezone available in post offices since July 2017.
5. offer bitcoins as a payment method
Operators of online stores can offer Bitcoins as an official payment method.
Good examples of online stores that accept Bitcoin are e.g. the pizza delivery service Lieferservice.at or the student store Edustore.
If you use Bitcoin as an official payment method, you benefit from several advantages: On the one hand, the transfer arrives quickly (approx. 30 minutes), and on the other hand, you can expand your customer base to the whole world - after all, Bitcoin is available all over the globe.
Do you have a wallet?
Before you buy bitcoins, you need to create a wallet. The wallet is a software on your PC or on a website (e.g. Coinbase) where you store your Bitcoins. Only by entering the correct code and password you get access to your wallet. Therefore, you should keep the codes in a safe place: If you no longer have access to the wallet, your Bitcoins will be lost forever.
The best wallets for Bitcoin include the online wallet Coinbase and the hardware wallet (USB stick) "Ledger Nano S". A list of the most recommended software wallets can be found for example at Bitcoin.org!
