Can You Buy Bitcoin with a Credit Card? Should You?

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Buying and selling bitcoins differs from country to country. Scroll down for a buy bitcoins bank account of platforms by country. The introduction shows you what buy bitcoins bank account need to consider when buying and selling bitcoins and which payment options you have. If you want to get started as quickly as possible you have two options.

If these options aren't feasible for you, read on. There are 3 ways to buy and sell bitcoins. Besides our list, these resources are helpful: To get started quickly we recommend Lykke where you can buy bitcoins with your credit card.

If you can't find your country in the list below please check out the three links above. Otherwise LocalBitcoins is a great choice in many countries that are not listed here. Bitstamp is accessible to everyone who can do a bank transfer to their bank account in Slovenia, regardless of the country of your residence. In Asia the exchange Coincheck. Contact Us Contact Us. Where can I buy and sell bitcoins? If you want to get started as quickly as possible you have two options Login to your Bitbond account and buy bitcoins with a simple SEPA wire transfer European bank account required Get the Lyyke app and buy bitcoins with a credit card credit card buy bitcoins bank account If these options aren't feasible for you, read on.

There are 3 ways to buy and sell bitcoins Brokers: It is usually faster than going through a marketplace or an exchange and the sign up process is easier.

But often this also means a bit higher fees. Coinbase is the most prominent example of a large broker with a presence in 24 countries. LocalBitcoins is a good example for an international marketplace. The advantage of a marketplace is that cash can be a payment option. However, it usually takes a couple of days until the verification process is completed. If you don't want to wait for a few days, a broker is the better choice.

If you want to buy larger volumes more frequently signing up with an exchange is worth the money saved. Consider these 5 factors when you buy or sell bitcoins Speed: On exchanges the verification process can take a few days but transactions can be very quick.

With brokers or marketplaces the initial sign up usually is fast but completing a trade can take a couple of hours or even a day or two. Don't fall for players that try to stay anonymous and don't publish the name of their company buy bitcoins bank account for a slightly lower fee.

Buy bitcoins bank account brokers are more convenient but buy bitcoins bank account a bit more expensive than exchanges. Before a transaction make sure you know which fees you are paying. Before you buy or sell bitcoins make sure to compare prices of different platforms in your country.

Different prices are mainly the result of different market liquidity. If you use marketplaces like LocalBitcoins you can meet the seller buy bitcoins bank account person and pay with cash. When you buy bitcoins online you need to do a bank transfer or pay by some other method. Therefore check first if you have access to one of the offered payment options.

Different payment options also have an impact on the fees you need to pay. Bitcoin price of the last buy bitcoins bank account months on Bitstamp List of platforms by country where you can buy and sell bitcoins Besides our list, these resources are helpful: Buy Bitcoins Worldwide How to buy bitcoins in In Asia the exchange Coincheck is one of the most popular ones.

The "Type" column indicates whether the platform is a broker Ba marketplace M or an exchange E. Country Platform Type Buy?

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Worse, buying bitcoin seems to either involve the digital equivalent of root canal or a shady cash deal with a total stranger. Fortunately, US residents can take advantage of another option. It does away with the need for credit cards, bank accounts, picture IDs, and biometric scans.

Best of all, this option eliminates the need for awkward meetups with total strangers. Localbitcoins helps match bitcoin buyers with sellers. Since , this international service has earned the reputation as a top marketplace for in-person bitcoin trades.

Localbitcoins counts over , active traders exchanging 1,, bitcoins in daily volume. In-person meetings are only needed during the actual transfer of cash. Localbitcoins handles the rest of the transaction online. Fortunately, Localbitcoins supports a variety of payment methods. Cash Deposit offers a legal, effective, and reliable way to get your payment to a Localbitcoins seller without an in-person meeting. You may have previously deposited cash into your own bank account by filling in a deposit slip and handing both cash and the slip to a teller at a local branch.

It turns out that anyone who knows your bank account number can give you money by doing the same thing. Cash can be deposited in any branch nationwide - not just the one the account owner normally uses. Localbitcoins uses this standard banking service to eliminate the need for an in-person meeting between buyer and seller. Cash Deposit offers these advantages:. Localbitoins requires that buyers register with the service before making trades.

Begin your purchase by visiting the Instant Bitcoins page. An orange form appears near the top. Enter your city and the amount of your purchase in dollars. That leaves only the dollar amount of your purchase to decide. You may wonder how little you can spend. Matching offers appear below the search box.

These sellers are shown with a green circle next to their names. Seller ratings play a critical role on Localbitcoins. Next to the name of each seller appears the number of trades made and buyer satisfaction rating. Choosing a seller with an established track record increases the chances of success on your first trade. Localbitcoins protects sellers from fraud through an escrow system. The only way for the seller to recover them is for your order to be canceled or fulfilled.

On receiving your cash deposit payment and receipt, the seller will release the bitcoins to your Localbitcoins account.

Approach the window and hand the teller your cash together with the deposit slip. No teller has ever asked to see my ID. On completion of the deposit, the teller will give you a receipt. Keep it safe for the next step. To release bitcoin from escrow, sellers require proof of cash deposit. The most common form of proof is to send a direct message to the seller through the Localbitcoins site. This message often contains your order number and an image of your deposit receipt.

For example, some sellers offer instant escrow release, meaning that bitcoin is released as soon as a buyer says the transaction is complete. Other sellers can be found online frequently and are ready to release from escrow as soon as they receive notification of payment from their bank.

A few sellers process orders at a more leisurely pace. The level of service offered by a seller depends at least partially on the exchange rate being offered. The best rates are often offered by sellers with slower turnaround times. In my experience with four sellers, turnaround times have ranged from a few minutes to about an hour. After the seller marks your order as complete, Localbitcoins will move your bitcoin from escrow to your online wallet.

To access this wallet, click your username in the top right of any screen and select the Dashboard pulldown. The link to your wallet apppears in the top-left of your dashboard. Bitcoin can be transferred out of your Localbitcoins wallet to a Bitcoin address of your choosing.

To improve quality, Localbitcoins encourages both buyer and seller to rate each other after every trade. Rating a seller also helps the buyer because these ratings are and can be used when screening sellers in the future. This option makes it possible to pay for bitocoin orders with cash at a bank branch. No in-person meeting or bank account is needed, and the bitcoin being traded is protected through a third-party escrow.

Rethinking Localbitcoins Localbitcoins helps match bitcoin buyers with sellers. Cash Deposit Cash Deposit offers a legal, effective, and reliable way to get your payment to a Localbitcoins seller without an in-person meeting. Cash Deposit offers these advantages: Buyers are protected from fraud by Localbitcoins escrow.

Buyers can arrange a payment time that best suits their own schedule. There is no need to maintain a bank account at the payment bank branch. Step-By-Step Localbitoins requires that buyers register with the service before making trades.

Find Offers Begin your purchase by visiting the Instant Bitcoins page. Send Receipt To release bitcoin from escrow, sellers require proof of cash deposit. Was this post useful? Get my newsletter direct to your inbox for free. No spam, just great content like this. Unsubscribe at any time.