Today, around hundred million bitcoin wallets exists and miners will not stop mining anytime soon, as bitcoin is already hitting all time high since the start of 2021 and the users of bitcoin are increasing rapidly. As per an estimate 11 percent of American’s hold bitcoins however, this number is moving up day by day.
As cryptocurrency especially bitcoin’s prices have skyrocketed in the first few days of 2021 the buyers have given birth to new ways of buying them. You probably don’t want to miss the opportunity to jump into crypto. So let’s see now how to buy Bitcoins in 2 minutes.
Bitcoin ATM is the most easy and reliable method bitcoin ATM’s are called BTM’s which have made it much simple and easy to buy bitcoins. This method is very similar to that of using regular ATMs.
Bitcoin ATMs allow the users to buy bitcoin and credit it to your crypto/bitcoin wallet in just two minutes. Most people find it simple and easy as they have experience with the regular ATMs.
Steps to Buy Bitcoins through BTMs:
- Using bitcoin location finder, find a bitcoin ATM nearest to your locale.
- Carefully read the instructions on the BTM and use it to buy the desired number of bitcoins.
- By clicking the “Buy Bitcoin” button you will have to verify your identity.
- Enter the address of your crypto\bitcoin wallet to get your bitcoins.
- Insert the cash bill into BTM and confirm the process.
The transaction is complete.
Online Exchanging Platforms:
There is another way of buying bitcoins you can directly buy it using your credit or debit card through a website such as Coinbase and Kraken etc. Bitcoin Wallet is a need to buy Bitcoin through such exchanging platforms. These websites almost works in countries all over the world. They have high limits for buying with a credit card and it is one of the most trusted and reliable method of buying bitcoins.
Steps to Buy Bitcoins through an Exchange:
There are many cryptocurrency exchanges that offer users to buy and sell Bitcoins.
- Firstly, choose an exchange that is better suited for your needs.
- Then, you will have to connect your exchange to a payment method that you will use such as credit cards and debit cards etc.
- Once you have picked an exchange for buying Bitcoins, you will need to accumulate your own documents in order to prove your ID. These may incorporate photos of a driver’s permit, social security number and information related to your professional life. The data you may need can differ and depend upon the place you live in and the laws within it.
- Place an Order. After completing all of the above steps, you can easily buy Bitcoin and other cryptocurrencies in a matter of just 2 minutes.
- Now, you can store your Bitcoins in your wallet which can be hot wallet or cold wallet depending on what the exchange you chose is offering.
The main rule of purchasing Bitcoin is just to buy what you can bear to lose totally. Those of us who have been around for some time are accustomed to observing a large portion of our speculation vanish for the time being.
That is the disadvantage of an unstable and volatile market. On the off chance that you cannot deal with that loss, putting in excessive amounts of cash or resources in crypto especially Bitcoin, might be dangerous.