How to Buy Bitcoin in 2019 | Step-by Step Beginner's Guide

Anisa Batabyal
| 26 November, 2019 | 2 min

Bitcoin has been successful in maintaining its number one position amidst its highs and lows. Bitcoin has been increasing exponentially in terms of its followers and community as its adoption rate is going higher and achieving great milestones. Bitcoin has achieved a bigger number in terms of its value, but it's not able to maintain that value and has been fluctuating quite a bit recently.

How to Buy Bitcoin With USD

You can directly go to CoinSwitch page and can buy Bitcoin by paying in fiat currencies like USD and Euro, powered by Simplex which is an eminent partner of ours. Just keep n mind that your first transaction has a limit of something in between $50 to $10,000 and once you have done that your daily limit of a transaction can be $20,000 and monthly limit can be $50,000. The best part is that you won’t be charged any extra fees and you can ask any of your queries anytime as the support team is available 24/7.

You don’t have to worry about the speed of the transaction, as you can experience lightning-fast transactions, which would take something between 10 to 30 minutes. This is a popular way on how to buy Bitcoin with fiat currencies. The payment process is very simple and comes with easy and quick steps. The page looks like this:

Now let’s check out the steps involved in buying Bitcoin with USD:

#1 Sign Up

You should be ideally having an account with the exchange that you are going to use to make the purchase. You have a small KYC process that needs to be done. You can do that at the beginning itself so that you can save time, later during the payment getaway.

#2 Adding the Details

This is a very critical step wherein you need to add the billing details, which includes your credit card details in this step, which is the most common payment method. Even you have o make sure that your billing address and the home address is same otherwise the details might not be authenticated. Most of the exchanges have high compact security mechanisms to make sure that the information maintains privacy.

#3 KYC (Knowing Your Customer)

This is also a very important step, which enables you to make the transaction with a fiat currency. Here, you have to give some of your basic information like government-issued ID card, and your picture, which you can either upload or take it from a webcam. After the verification, you are all set to make a transaction.

How To Buy Bitcoin Using Debit Card

There are many exchanges worldwide which support buying Bitcoin via Debit card and the main challenge in which all countries do they support. Some of the exchanges supporting debit card transactions are:

#1 Coinbase

Coinbase is one of the largest cryptocurrency exchange, which enables you to buy around 150 USD a week. It is considered as one of the safest ways to buy Bitcoin.

Supported Countries: USA, Canada, Europe, United Kingdom, Australia

Fee Charged: 3.99%

Pros:

  • High Buying Limits
  • Instantly Buy with Debit Card

Cons:

  • Bank Transfer Purchases might take 5 days to complete

#2 Coinmama

Coinmama is also a famous Bitcoin broker which enables you to buy Bitcoin with a debit card, offering high limits like 5000 USD worth BTC per day and 20,000 USD worth BTC per month.

Supported states in the US: Arizona, California, Colorado, Florida, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Michigan, Missouri, Montana, Nevada, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Wisconsin

Fee Charged: 6% risk and processing fees for credit card payments

Pros:

  • Highest limits for buying BTC
  • Trusted and Reliable Broker

Cons:

  • High fee

CoinSwitch also supports buying Bitcoin with a debit card, and the processes are similar to that of purchasing with USD. The best part is that it supports both the master and Visa card. You just have to follow some easy steps which are common for most of the exchanges, which are as follows:

  1. Create an account in the respective exchange
  2. Add your debit card to the respective exchange profile
  3. Verify your identification with the respective exchange
  4. Now, you are ready to buy Bitcoin using your debit card.

How To Buy Bitcoin With Credit Card

Same as “How To Buy Bitcoin With USD”

How To Buy Bitcoin With Wire Transfer

Wire transfer or bank transfer is also one of the ways to buy Bitcoin and other currencies and several exchanges support this of which are as follows:

#1 Coinbase

In the US, you can buy Bitcoin with a connected bank account via ACH Bank transfer (Automated Clearing House) which takes 5 days to get the coins delivered. On the other hand, in Europe, you can use SEPA (Single Euro Payment Area), which takes less than two days to get delivered. Coinbase charges 1.49% fee on every transaction.

#2 Bitpanda

Bitpanda accepts every bank transfer- ACH, SEPA and online bank transfer. No fees as such are charged and some of the lowest fees are given by Bitpanda via debit or credit card. Bitpanda is even one of the trusted broker.

How To Buy Bitcoin With Other Altcoins

The best place to buy Bitcoin with other altcoins is CoinSwitch, as you can get a wide variety of cryptocurrencies nearing 400+, with a wide spectrum of exchanges, which are partnered with CoinSwitch. So, the user can get to compare and choose the most feasible rate. Not only that CoinSwitch will give you the most competitive rate in the market, and you can reach out to us in case of any queries, anytime you want, as we are working 24/7. Buy Bitcoin now and know how to buy Bitcoin without any registration at CoinSwitch, where you can buy anonymously as well.

Some of the altcoins include Ethereum, Litecoin, Ripple, Bitcoin Cash and many more. And you can get it done instantly just in three easy steps, which are as follows:

#1 First you need to go and put the respective altcoin that you are going to exchange Bitcoin for. For example, let’s take Litecoin as an example:

#2 After this, you can check out the different offers with the different exchanges, compare and choose the best rate, for instance, let’s take Changelly here.

#3 Then you just have to put the Bitcoin address of the wallet, where it will be deposited. Post which you can initiate the exchange.

How To Buy Bitcoin Peer-to-Peer

There are certain websites like Localbitcoin, which enable one to make transactions on a peer to peer network. You can trade Bitcoins in 7584 cities, which includes 248 countries. You can buy and sell online with the help of LocalBitcoin network. The payment options can either be IMPS or National Bank Transfer and many more. They even mention the limits for the users to take an informed decision.

Should You Invest In Bitcoin in 2019?

Bitcoin has been creating hype and excitement amongst the masses since its inception. It has even enticed major big shots, who has been holding a strong belief in Bitcoin. Especially as Bitcoin Halving is nearing, which is going to happen in next year, most of the Bitcoin enthusiasts and investors are saying that it might be the best time to invest. As per the past trends of Bitcoin halving, every time the price surged after the halving event took place. But you must do thorough research before investing.

About CoinSwitch

CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!





Buy BTC using credit cards at the best rates
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Buy BTC using credit cards at the best rates