Where To Buy Bitcoins?

IHB Bitcoin Guide Where to Buy Bitcoin

A well-educated Bitcoin newbie’s most frequently asked question is “How do I buy Bitcoins?”. The answer is Bitcoin can be bought and sold virtually anywhere. Bitcoin is currency, as well as many other things. This means you could sell goods or services, or even trade Bitcoin with your friends as IOU’s.

As many entrepreneurs continue to strengthen the ecosystem, several Bitcoin ATM’s have sprung up around the world. A Bitcoin ATM allows the user to insert fiat currency and receive a printed Bitcoin wallet with an address and private key. There are plenty of Bitcoin ATM website that provide helpful guides for finding your nearest Bitcoin ATM.

Going through an exchange would be the most time consuming way to purchase Bitcoins, but it they are getting faster by the day. This is due to the fact that they usually try to comply with all KYC (Know Your Customer) and AMI (Anti-Money Laundering) laws. It may take days for you to be able to purchase Bitcoin at an exchange.

The easiest and most efficient way to buy Bitcoins would be to use an ATM or a website like localbitcoins.com. LocalBitcoins matches personal buyers and sellers in specific regions. The buyer can contact the seller and do the transaction completely peer-to-peer. The most significant advantage of this type of selling is that the selling price is completely determined by the seller. Therefore, certain regions of the world may be selling Bitcoin in different currencies at a different value.