Bitcoin, and the idea of cryptocurrency, more generally, has only been around for a little over a decade. In that time, it’s made some serious waves with tech-savvy consumers and investors alike.
Crypto investing is still something of a roller-coaster ride, with some people making millions and others losing a lot of cash. Investors and traders with a reasonably high-risk tolerance will find that it’s easier than ever to buy bitcoins these days, though. Read on to find out about five bitcoin buying options that are worth exploring.
- Coinbase
Coinbase is one of the most popular specialized cryptocurrency exchanges around. It allows users to purchase multiple forms of digital currency, including Bitcoin, Litecoin, Ethereum, and others, and store it in online vaults with time-delayed withdrawals. According to Coinbrary, Coinbase is one of the oldest and most reliable crypto exchanges still in operation, so it’s a good bet for anyone willing to pay reasonable transaction fees and navigate the site’s admittedly confusing fee structure.
- PayPal
PayPal is a comparative newcomer to the crypto game, but the popular online payment processor did their homework before jumping into the deep end. The company makes it very easy to buy and sell bitcoins using the app, and trade fees follow a sliding commission scale. PayPal account holders can also keep cryptocurrency in their online wallets without worrying about paying any fees, and they can trade in increments as small as $1 at a time.
- Trading Apps
Trading apps like Webull and Robinhood allow users to pick up bitcoins with no direct commission, though most wind up making up for that advantage with spread markups. The trading app Robinhood never charges commissions and gives users access to not just bitcoins but also over a dozen other digital currencies in addition to stocks, ETFs, and options. Webull charges spread markups of 1% on their transactions, but it’s a good option for anyone who still has a bad taste in his or her mouth from Robinhood’s recent, very public, Reddit scandal.
- Interactive Brokers
Interactive Brokers does not facilitate direct cryptocurrency sales or trades. Instead, it allows people to purchase futures contracts on Bitcoin. The broker charges clients $15.01 for exposure to five bitcoins, and experienced securities traders already know the company has a good reputation. They have been providing access to a range of tradable securities from across the world for years.
- Bitcoin ATMs
Some people prefer to do things the old-school way. They can buy, and sometimes sell, bitcoins in person at specialized Bitcoin ATMs. However, it’s important to note they’ll be charged more in commissions if they take this route since the average commission fee is around 7% per transaction.
Most Bitcoin ATMs accept both credit and debit cards, but users must also create Bitcoin wallets before they purchase or sell any bitcoins. Given how easy it is to buy, sell, and trade crypto online, there’s little reason to use a Bitcoin ATM beyond a preference for old-school aesthetics.
Jump on the Bitcoin Bandwagon
It’s not too late to make good money trading or holding bitcoins and other cryptocurrencies. The markets are volatile, but many savvy investors have made their fortunes from bitcoin investments, and it’s not too late to jump on the bandwagon. There are still plenty of investing and trading opportunities to go around.
You must be logged in to post a comment.