Cheapest Ways to Buy Bitcoin Online
Keeping the dreaded transaction fees and often all of the additional processing fees when you wish to buy any quantity or unit of Bitcoin or for that matter any digital currencies as low as possible is critical, for if you just sign up to any exchange you could be paying way too much!
With that in mind please do read through today’s news story for I will be showing you several different ways that you can keep your costs down. Obviously the digital currency exchange you choose to make use of is always going to have their own fees and charges, so always select one with the lowest fees!
Getting a clear understanding of those fees and charges can however be difficult if you have never place an order to by Bitcoin or any other digital currency.
So, first and foremost do keep in mind that there are always going to be movement fees when buying Bitcoin, and as such you want to select a digital currency exchange that has the lowest movement fees.
Also the payment method you choose to pay for your digital currency is also an important factor, for if you use for example a credit card to buy your Bitcoin with then you may find the fees and charges associated with doing so are higher than if you use a debit card!
So always take a look at the fees and costs pages that you will find displayed at all digital currency exchanges and try and select a payment method with the very lowest fees associated with them.
Buy Bitcoin off People You Know
It is not only going to be the rather fee hungry digital currency exchanges that you are going to be able to buy Bitcoin from, for there are plenty of other ways you can make a purchase of any quantity of the cryptocurrency you wish to buy.
One of the ways it was of course designed for was to perform peer to peer transactions and as such if you know someone who wishes to sell Bitcoin and you want to buy some then do a transaction with those people, as you could and probably will save a small fortune in fees when you do so.
There is in fact a service offered by Local Bitcoin and when you make use of their site they will match you up with someone close by where you live who wants to sell Bitcoin or buy Bitcoin and as such you could use their services to find someone to do peer to peer transactions with!
You may also find by doing such a transaction you can lock in and agreed price that you will have to pay for your Bitcoin, instead of having to rely on the spot rate that a digital currency exchange will offer you at the time they sell it to you!
Use a Bitcoin ATM
If you are lucky enough to live nearby a Bitcoin ATM then you are of course going to be able to use one of those machines to buy Bitcoin on the spot, and I do have to say I have found them to be quite popular, and that does of course mean the number of Bitcoin ATM’s are going to constantly increase in number of people are using them!
But at the end of the day a Bitcoin ATM is of course there to make money for the operator and supplier of those machines, and as such there are still going to be fees and charges that you will have to pay when buying or even selling Bitcoin through such a machine.
It has also been found that much like digital currency exchanges when the price of Bitcoin does for example crashes in price and there is something of a mad panic to sell Bitcoin those machines can go offline for a certain amount of time.
However, if you do wish to buy Bitcoin then you are never going to have any difficulties finding somewhere to buy them from, which cannot be said when you wish to sell Bitcoin as there have been many times when there are some very long delays in you putting in a sell order to sell Bitcoin and the amount of time a digital currency exchange will take to process those orders.
David is a forex trader and writer who has spent the last few years giving his opinion and spreading news about oncoming markets and trading tips. Besides from being a trader he is also a lifelong Everton fan and enjoys spending free time watching his beloved team in the premier league.