February 2015

Where to Buy Bitcoin

So you may be wondering where to buy Bitcoin? While, there are a number of places to get Bitcoin online and offline, each comes with its fair share of pros and cons. A great resource to check out is HowToMakeMoneyWithBitcoin.net. You can get Bitcoin directly from other individuals who trade in selling them, through online sources and even through some companies that sell Bitcoin.

Some of the more common sources of getting Bitcoin include:

Bank Sources:

Some banks and companies provide Bitcoin services to those who do not know how to make money with bitcoin, where they allow clients to purchase Bitcoin directly from their bank accounts. Some of these companies include: Coinbase which only serves US account holders, Expresscoin which uses bank wire transfer, Bittylicious, BitBrothers, Kraken, BitQuickco, Favicon, ANXIcon, Belgacoin which is free of charge and Bitalo which allows individuals sharing the same bank to buy or sell Bitcoin from each other.

Credit Card Sources:

You may choose to get Bitcoin using your credit card. Two popular platforms ideal for this are: VirWox which is a Virtual World Exchange network that allows all major credit cards through PayPal and Skrill to buy Second Life Lindens (SLL) which can be converted to Bitcoin; and CoinMama which uses Western Union to buy Bitcoin but is not available in the US.

PayPal:

This is not a direct way of buying Bitcoin and, in fact, it’s risky and many sellers tend to avoid this option. PayPal is in direct competition with Bitcoin and hence closes or freezes accounts that are involved in Bitcoin transactions. Another reason to be careful, here, is that after receiving the Bitcoins, the buyer might choose to perform a chargeback where the payment will be reversed. A seller cannot get the reversed money back since he cannot prove any sale.

Nonetheless, there is a safer way to getting Bitcoin using your PayPal account. This involves using Virtual World Exchange to buy SLL using PayPal and then converting the SLL to Bitcoins. Using this option will cost you a fee of about 6% of the Bitcoin value but is a good and fast option.

Cash Sources:

You can also get Bitcoin from some companies that accept cash for Bitcoin. Such companies provide platforms for buyers and sellers of Bitcoin to meet and trade. Some of the most common companies that do this include: Local Bitcoins, BitQuickco, BitBrothers LLC, ANXIcon, BXlogoSM, Bitcoin (Australia) and Expresscoin.

When trading in cash, you will be required to deposit the money either in a bank account or directly to the trading company which usually has an Escrow payment method. The money will be released to the seller after you have received your Bitcoins. Many other companies are coming up each and every day due to the increasing interest in Bitcoins. .

Direct Sources:

You may also choose to buy Bitcoin directly from another person online, someone who knows how to make money with bitcoin – these people know what they’re doing. Some websites can be used to connect direct buyers and sellers online. These include: Bitcoin OTC or Bitcoins.com. Getting Bitcon using this method is very risky but also the cheapest. You can also get Bitcoin through physical trading in a face-to-face meeting with a seller.

Bitcoin ATMs:

Recently, the number of Bitcoin ATMs has been on a rise. You may use a Bitcoin Locator from your computer or phone to find a Bitcoin ATM near you.

Other Sources of Bitcoin:

There are other sources of getting Bitcoin such as through Gift CardDrainer.com which allows you to buy Bitcoin using Discover gift cards, American Express, MaterCard or Visa. Expresscoin.com allows users to buy Bitcoin using personal checks and money orders

Beware of Scams:

When looking for places where you can get Bitcoin, and how to make money with bitcoin, it is always advisable to look around for all available options and to perform a background check of the company or individual before entering into any money transaction.