Table of Contents
Bitcoin. Ever heard of it?
We’re gonna guess that’s a yes. With a current membership base of 74 million people, chances are the word “Bitcoin” has graced your timeline once or twice.
It’s one thing to know about Bitcoin, but do you know where to buy Bitcoin? There are multiple options available. Keep reading to learn about the easiest way to buy Bitcoin.
The Easiest Way To Buy Bitcoin: Online Exchanges
The first way to buy and sell Bitcoin is through an online exchange. These look similar to stock exchanges but focus solely on cryptocurrency.
Each platform offers differing features to draw users in, such as ease of use or competitive pricing. No matter what special features you seek, you need to make sure that the exchange platform you choose is safe, accessible, and legitimate.
While every platform’s specific operation is unique, the framework looks similar. Most online exchanges require some personal information, such as your ID or social security number. Once you’ve uploaded those and added a payment method, you’re ready to start trading!
The Bitcoin ATM
Another way to purchase Bitcoin comes in the form of a Bitcoin ATM. These are similar to the ATMs you’d find at your local bank, except they do not allow for physical currency withdrawal. Instead, the Bitcoin ATM produces a blockchain transaction that digitally sends money to the user’s digital wallet.
To use a Bitcoin ATM, you’ll want to start by locating one near you. Many Bitcoin ATMs are in easily accessible areas, such as grocery stores or gas stations. Additionally, many of these are accessible 24/7, meaning you can trade Bitcoin at any time of day!
It is important to remember that many Bitcoin ATMs charge additional fees. These are generally expressed as a percentage of the total transaction rather than a fixed rate.
Now that you have an understanding of what a Bitcoin ATM is, let’s discuss how to use one.
How to Use a Bitcoin ATM
We’ll be using ByteFederal for our example of how to buy Bitcoin from an ATM. ByteFederal is a Bitcoin ATM located in Orangeburg, SC.
All you need to trade cryptocurrency at ByteFederal is a government-issued ID, your mobile Bitcoin code, and cash (if you’re looking to buy Bitcoin.) If you’re new to crypto and don’t yet have a Bitcoin code, don’t fret! ByteFederal gives you the option to pick between multiple free Bitcoin wallet apps right on the ATM.
If you are buying Bitcoin, you’ll insert your cash into the machine. If you are selling, follow the specific instructions listed on the ATM. After a quick scan of your QR code, you’re all set!
It’s just that easy.
Invest in Your Future With Bitcoin
Now that you know the easiest way to buy Bitcoin, it’s time to do just that! Find a Bitcoin ATM near you, or sign up for an online Bitcoin exchange and make some money!
Want more articles about the things you do every day? Check out our website! We cover plenty of different topics, so you’re bound to find something you’ll like.