What Are The Best Places To Buy Bitcoin in 2020
Buy Bitcoin Online through the provided trustworthy and best platforms or the cryptocurrency exchanges to reduce the risk of bitcoin theft.
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There are a couple of places where you can buy bitcoin in 2020. The cryptocurrency Bitcoin has gained much importance owing to its promised anonymity that would help the currency and the transactions secured. As a result, the cryptocurrency is widely accessed in the various spheres of the darknet, most prominently in the dark web markets and the darknet forums. For utilizing Bitcoins, you would first need to acquire some of them.
You can buy Bitcoin via a number of ways such as cryptocurrency exchanges or bitcoin exchange, using a credit or debit card, peer-to-peer exchanges, Bitcoin ATMs, Bank Transfer, PayPal, and Cash (in-person).
Buy Bitcoin With PayPal
Considering the concept of buying bitcoin with PayPal, it can be stated that you cannot buy bitcoin with PayPal directly. This is for the fact that the merchants under the PayPal Terms and Conditions are not allowed to sell bitcoin for PayPal. Although, few hacks would help you in this. But, you can definitely purchase other digital goods with PayPal and sell them for bitcoins. The only downside of bitcoin purchase with PayPal is that you have to pay a fee of over 12%.
After you have purchased bitcoin, you can either store them in hot wallets or cold wallets (crypto cold storage). The hot wallets refer to as the online wallets or the wallets that are connected with the internet. On the contrary, the cold storage provides the users with the liberty to store them in offline devices like pen drives, hard drives, paper wallet, etc.
Best Places To Buy Bitcoin In 2020
Irrespective of the source of Bitcoin purchase, you need to have an account on at least any one of the cryptocurrency exchanges or Bitcoin exchanges. With the growth in the Bitcoin (BTC) acceptance in the various spheres of the financial society, a good number of the company provides the exchange facility giving you a hard time to choose the best one from them. We have conducted in-depth research on a couple of exchanges and bring to you the best and the cheapest places to buy and sell bitcoin.
CoinBase is one of the largest and most reputed Bitcoin (BTC) platforms in the U.S. It serves as a single platform for both a wallet and an exchange. The platform supports Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTE).
As soon as you signup and connect your bank account, you would easily be able to transfer the funds to and from the account and then convert them to bitcoins or fiat currency. The platform charges you a variable fee of 1.49% for the U.S. transactions from the Coinbase or bank account. Another 3.99% fixed amount is charged if the purchase of bitcoin is made through the credit or debit card.
Another most major crypto exchange platform is Binance. It supports a wide range of the cryptocurrencies comprising of Bitcoin, Ethereum (ETH), and its own crypto coin named Binance Coin or BNB. The charges levied on the digital currency purchase is pretty low, which is just 105 for the trades. The platform also offers the liberty to trade coins into several other cryptocurrencies such as ICON, EOS, Skycoin, TRON, Litecoin, Ethereum Classic, Ripple, Bitcoin Cash, Stellar Lumens, and a list of more.
Initially, RobinHood had started as a stock brokerage company that did not levy any fee. But now, the platform has expanded its limitations with digital assets. But, you still can buy bitcoins without the extra charge. It also has a mobile app that would help the users on the go. The only downside pf this trading platform is that its access is limited to specific states. So, before you proceed, it would be better to check if it is available in your state.
CoinBase Pro was formerly known as GDAX and is a serious trading platform with its user interface closely resembling the Bloomberg terminals or the active stock, commodity, and option trading platforms. It charges a low fee that ranges between 0.04% to 0.50% depending on the user’s trading volume. The funds are safe and also insured at the same time. Similar to CoinBase, the cash is insured up to $250,000 while the majority of the digital coins are stored in the physical form in the offline mode in the bid to prevent digital currency theft.
Coinmama is a US-based registered trading platform that facilitates both blockchain wallet and an exchange. The website boasts over 2 million customers in 188 countries. The Coinmama platform enables you to purchase Bitcoin in just a couple of clicks from the homepage. Although the platform provides real-time transactions, it charges a hefty fee than some of the others that work in the same way. The buy transaction charges a commission fee of 3.905 while for the sell transactions, you have to charge a commission fee of 0.90%. If you choose to pay with a credit or debit card, you will have to pay an additional 5%.
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How Can I Get Free Bitcoins?
You can get Bitcoin for absolutely free if you follow specific methodologies. However, not everyone is promptly aware of the fact that one could earn free bitcoin. Here are the most proven methods of earning free bitcoins:
- You can earn Bitcoin by shopping online and seeking help from the cash-back services such as Lolli. Another mobile app in consideration is Pei that offers crypto rewards on shopping online.
- You may go ahead and open a cryptocurrency interest account, such as BlockFi Interest Account (BIA) and earn bitcoin for free. All the free cryptocurrency will be stored in the account in the form of interest. The platform offers up to 8% of annual interest.
- You can also take a chance with the cryptocurrency mining. You would need to implement Application-Specific Integrated Circuits (ASIC) that would help you in handling the heavy demands of crypto mining. Checkout Honeyminer and NiceHash that makes it easier to download and install software aiding in mining the cryptocurrencies.
- You can also give surveys a shot to earn free bitcoin. Time Bucks is one of the largest survey companies offering free crypto.
- If you consider yourself to be an average person, becoming an affiliate marketer and earning free bitcoins will definitely help — checkout BlockFi’s affiliate program to start.
Investing in Bitcoin is subjected to risk. However, you are consistent with trading bitcoin, the list provided here would suffice. After you become a pro in buying and selling bitcoin, you may choose to start earning free bitcoin online.