by The other day while I was on the Bitcoin forum, I came across how investors are struggling to buy Bitcoin and other cryptocurrencies with banks being rather uncooperative.
That’s when the idea of this article was conceived – to share my knowledge and opinion on how and where to buy cryptocurrencies?
I am doing this to bring home the message that buying cryptocurrencies is way easier in 2018 than it was in the years gone by. And this is precisely why there are so many options. If one option doesn’t work, you can always switch to another one.
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How To Buy Cryptocurrency
There are many ways by which you can buy cryptocurrencies. Some of these popular ways are:
- Buying Cryptocurrencies using credit/debit cards
- Purchasing Cryptocurrencies or Altcoins for Cash
- Buying Cryptocurrency using Bank deposits or wire transfers
- Exchanging BTC for other cryptocurrencies
- Buying BTC for gift cards
- Buying Altcoins using BTC/ETH or USDT
- Buying cryptos from decentralized exchanges
- Buying cryptos using peer-to-peer sources
As you can see, there are myriad ways in which you can get hold of your BTC/ETH or other cryptos in 2020.
But the trick here is to be flexible enough to switch from one way to the other when a particular method is not working.
Now the only problem is, once you know all these ‘how-to’ ways, you need to know ‘where to’ buy BTC and other cryptos.
Where To Buy Cryptocurrency
1. Buying Cryptocurrencies or Altcoins using credit/debit cards
Buying BTC or Altcoins using credit/debit cards can be as easy as checking out from your Amazon shopping cart. That’s why it is a very straight-forward way of buying cryptocurrencies.
Some of the services that allow you to do so are:
However, in the services listed above, you need to register your cards and complete a KYC that might typically take a few days to be completed.
You can also check out our extensive guide on the same: Popular Websites To Buy Bitcoins Instantly Using Debit/Credit Card.
2. Purchasing BTC Or Altcoins For Cash [peer-to-peer sources]
Buying Bitcoin, Ethereum, and other popular altcoins like LTC, DASH, Zcash, etc for cash is easy but it also depends on the accessibility to such service providers near you.
So let’s check out some of the services that can help you in this regard:
Paxful: P2P Ethereum trading, all the countries
MoneroForCash: Purchase with fiat money
Bitcoin & Altcoin ATMs: Most ignored but the easiest way to buy cryptos.
You can use service like Bitcoin and Altcoin ATMs to buy cryptocurrencies like BTC, ETH, LTC, DASH, XMR, ZEC etc. To find an ATM near you for the required crypto, visit https://coinatmradar.com/.
Also, check out our other exclusive articles on the same:
- How To Buy Bitcoins With Cash In Any Country [Tested Methods]
- How To Use A Bitcoin ATM – A Beginner’s Guide
3. Buying BTC or Altcoin Using Bank Deposits Or Wire Transfers
Another easy way is to fund you fiat wallet with fiat currencies via wire transfers and later use these fiat funds to exchange for Bitcoin, Ethereum or other cryptocurrencies.
Some trusted services that allow you to deposit fiat currencies like USD, EUR, GBP, JPY, INR etc in your fiat linked crypto wallets are:
- Cex.io: Supports EUR, USD, GBP, and RUB
Using these fiat currencies, one can buy BTC, ETH, XRP, BCH, XRP, XLM, DASH, BTG, ZEC. But before buying/selling on CEX one needs to go through a thorough KYC check. Here is our guide on the same to help you in that regard: CEX.io Review.
- Coinmama: Supports USD, EUR, and GBP
Using these fiat currencies, one can buy BTC and ETH but one needs to go through the KYC checks. Check our guide on the same to ease out the process: Coinmama Review.
- Coinbase/GDAX: Supports USD, EUR, SDG, and GBP etc
Using these fiat currencies one can buy BTC, ETH, BCH, LTC but to do that one needs to go through the KYC checks. Check our guide on the same to make it easier: How To Buy Bitcoin Using Coinbase.
Note: You can check if their service is available in your country here.
- BitStamp: Supports USD and EUR
Using these fiat currencies one can buy BTC, ETH, XRP, LTC, BCH.
- Kraken: Supports USD and EUR
Using these fiat currencies one can buy more than 15 cryptocurrencies including BTC, ETH, XRP, LTC, BCH. You can check the whole list of available cryptocurrencies on Kraken here.
- Bitfinex: Supports USD and EUR
One can buy more than 15 cryptocurrencies including BTC, ETH, XRP, LTC, BCH using fiat currencies.
You can check the whole list of available cryptocurrencies on Bitfinex here.
4. Exchanging BTC For Other Cryptos
There are some quick services that allow you to exchange or swap one crypto to another crypto quite effectively for a nominal service/trading fee. Here are some of those popular services.
- Changelly (Instant purchase)
- Binance: Supported pairs are BCH/BTC, BCH/ETH, BCH/USDT
- Bitfinex: Supported pairs are BCH/BTC, BCH/ETH, BCH/USD
- Bittrex: Supported pairs are BCH/BTC, BCH/ETH, BCH/USDT
- KuCoin: Supported pairs are BCH/BTC, BCH/ETH, BCH/USDT
There are more services like this: Best Cryptocurrency Exchanges In The World To Buy Any Altcoins
Amazon Gift cards can be exchanged and redeemed into equivalent BTC.
But the trick here is how to do it.
Well, there is a service that lets you do that – Bitrefill It is a marketplace that connects Amazon shoppers with Amazon gift cards.
Here, users with gift cards can liquidate their gift cards at a nominal price and get it in bitcoins. Here is our detailed guide on how to do that: How to Trade in Amazon Gift Cards for Bitcoins – Instantly.
6. Buying Cryptos From Decentralized Exchanges
Another, popular way of getting hold of your favourite cryptocurrencies is through decentralized exchanges. This method appeals to those who already own BTC or ETH and want to exchange them for other cryptos or vice-versa.
Also, such users don’t want to do any KYC or identity verifications so this an ideal way for them to buy cryptocurrencies.
To satisfy such strata of users there are some decent decentralized exchanges that are available today:
Out of these, CoinSutra has identified these DEXs for now: 9 Best Decentralized Exchanges Which You Can Use To Trade Right Now.
Conclusion – Where to buy Cryptocurrencies?
Let’s make no mistake about the fact that buying cryptos is easier to buy today than ever before. But the only barrier in the way is the proper awareness and knowledge about how and where to buy cryptocurrencies.
Therefore, I hope that this article, with information on the centralized and decentralized ways of buying cryptocurrencies, will help you in your crypto journey.
If you find this article useful, kindly share it with your friends on Facebook & Twitter!
Here are a few other hand-picked articles for you to read next:
- How To Start Investing in Bitcoins – The Beginners Guide
- List Of The Best Cryptocurrency Trading Sites For Beginners
- Best Indian Bitcoin Exchanges [Mega List – 2020]
- How To Instantly Buy Ethereum With A Credit/Debit Card
- Everything You Need To & Must Know About The Term ‘Cryptocurrency’
Most credit card companies are denying the transactions.
Recently tried HSBC & Standard Chartered bank cards at coinmama and the transaction did not go through. I think Amex and Citibank have already issued directives that they will not be supporting buying of cryptocurrencies. What is your advice?