Buying Bitcoin used to be hard, but now there are a lot of companies that make the process easy. Of course, many of these companies just want to steal credit card information, but there are a few that can be trusted. Choosing among these Bitcoin brokers depends on one’s residency because some brokers are available only in certain countries.
Before I explain the buying process, here are some of the best and most reliable Bitcoin brokers. Using Coinbase, the world’s largest Bitcoin broker, you can buy $150 or €150 of Bitcoin per week instantly with a credit or debit card in United States, United Kingdom, Canada, Europe, Australia and Singapore. Coinbase has a fee of 3.99% on all purchases via credit or debit card, which is amongst the lowest fees in the market.
For residents of Europe, BitPanda is a reliable and trusted broker with fees ranging between 3% and 4%. A negative thing about BitPanda is that fees aren’t shown openly on the site but instead included in the buying price.
All of these brokers have a similar, easy way to buy Bitcoins. First of all, a Bitcoin wallet is needed, because all exchanges require one. After getting a wallet, one needs to make an account, choose a paying method, connect an account with a credit or debit card and then connect it to a Bitcoin wallet. Easy step by step guides can be found online.
Buying bitcoins with credit cards is maybe easiest and fastest, but bank transfers offer cheaper rates. That’s why people should choose which purchasing methods work best for them. Also, exchanges are legally obliged to check buyer’s ID and location. Having the required documents ready will speed up the time needed to validate a buyer’s account. In the end, before any purchase can take place, background research is essential and beneficial.