Buying Bitcoin is simple and painless. All you need is a digital wallet as, without it, it’s impossible to buy and store Bitcoin.
A Bitcoin wallet is used for the same purpose as a traditional bank account for storing fiat currency.
Once you have the wallet, you will need to follow a simple process in order to buy the coins. Here, we have discussed how to buy bitcoins. So read carefully.
Buying Bitcoin – Getting Started:
There is a large number of brokers, exchanges, sellers and wallet providers, etc. selling Bitcoin. However, not all of them are reliable. Some are just there to steal your money.
To avoid theft, you should always look for well reputed and renowned names to make the purchase.
The Bitcoin exchanges require the users to provide their personal information – which may also include your photo and a copy of ID – to prevent theft.
Once your account is functional, you are ready to buy bitcoins instantly.
Buying Bitcoin with Debit/Card Instantly:
Buying bitcoins via debit/credit card is one of the easiest approaches out there. However, due to the complex transaction process, the fees can be high.
As a bitcoin buyer, you will come across numerous companies offering their services, but only a few of them are trustworthy.
Down below is a list of most trusted names that accept credit/debit cards and sell instant bitcoins.
With the presence in over 30 countries, Coinbase is the largest bitcoin broker in the world.
Coinbase offers instant buy option, but to buy the coins instantly, you will need to provide your identity proof and bank card.
Coinbase users are normally categorized into two levels: level 1 users and level 2 users.
Level 1 users are the fully verified users and can buy up to $1k worth of bitcoin per week.
While level 2 users can only buy up to $100 worth of bitcoin per week.
Moreover, Coinbase only charges 3.99% in transaction fees which are pretty low compared to other exchanges.
Find out more about how to buy bitcoins via Coinbase safely right here.
- Offers instant bitcoins to debit/credit card users
- Charges 5% in transaction fees and particularly good for those who buy in bulk.
- Offers special packages to verified users as they can buy up to $5k worth of bitcoins per day and up to $20k per month.
BitPanda is an Austrian exchange and is one of the most renowned across Europe.
The features of BitPanda include:
- Instant bitcoin purchase through credit/debit card
- Low fees. Just around 3-4%.
- The buyers are required to go through a strict verification process.
A downside of BitPanda is that the fees are not mentioned on their site. If a user wants to know the fees, he must register an order first.
Some Other Ways to Buy Bitcoin:
Buyers who don’t have credit/debit card can also buy bitcoins through LocalBitcoins.com. All you have to do is enter your nearest area and arrange to meet up with a seller. However, make sure your meetup is in a public place to avoid any potential harm that the seller may possess for you.
Online pharmacies are the pharmacies that allow purchasing of the medications hard to find at physical drug stores. Due to increase in the demand for prescription drugs, numerous online pharmacies have popped up on the chart. These pharmacies mainly deal only with fiat. However, with the ever-growing popularity of cryptocurrencies, the trend is starting to shift as online pharmacies have already started accepting Bitcoin payments in exchange for their services. In addition, some online pharmacies offer special discounts to those who opt for Bitcoin as a payment option due to simple Bitcoin exchange rates.
Bitcoin Online Pharmacies – Bitcoin As A Payment Option:
Over the last couple of years, there has been an alarming rise in drug prices. The same medications cost $11 are now being sold for over $35. Yes, more than 200% higher!!!
This astonishing price increase is really a worrying issue. However, there is one solution: Bitcoin. A lot of online pharmacies are allowing their customers to pay in Bitcoin for convenient purchases. Also, some financial analysts have shown their support for Bitcoin pharmacy trend and declared it a good investment option.
Those who have put some of their resources into Bitcoin for the sake of increasing income in near future; they indeed have made a good deal.
At this point, one might ask: “Why using Bitcoin as a payment option is a good deal?” Well, Bitcoin is a safe mode of doing business. It is not tied to your bank account, provides user anonymity, and takes the security to another level to complete online purchases.
How To Use Bitcoin As A Payment?
The majority of online pharmacies accepting Bitcoin offer special discounts to their customers who use Bitcoin to pay the bills. Anyone who wishes to pay in Bitcoin must own a virtual wallet and have access to a Bitcoin buying platform.
The online pharmacies have established a guideline for their crypto users. According to the guideline, a user must not engage in buying or selling Bitcoin until they receive an email, confirming the number of bitcoins required to complete the order.
This helps the customers avoid any security-related issues.
What Are The Best Places To Buy Prescription Drugs Online With Bitcoin?
Once you have made up your mind to buy prescription drugs online with Bitcoin, do a simple Google search. The results will contain many names that incorporate Bitcoin payments.
Some names that you might want to bookmark are:
With the latest advancements in cryptocurrency technology, bitcoin health stores have become an essential part of the payment system. As a result, several online pharmacies are now offering their services for Bitcoin. To encourage the usage of this currency, the pharmacies are also offering special discounts to those buying their products with Bitcoin, thus lowering the cost of prescription medicines.
Ant Financial Services Group was formerly known as Alipay and is an affiliate company of the Chinese Alibaba Group. Since Ant Financial Services Group is an operator of AliPay, a perilous stance has been taken by it over ICOs (Initial Coin Offerings).
CEO of Ant Financial, Eric Jing spoke during the speech, which was held on 24th March at the annual China Development Forum in Beijing and according to him, most of the existing blockchain fervour comes from speculation about the main perception of the blockchain.
Jing also advised that there are numerous projects behind the ICOs (Initial
Coin Offerings) which can offer nothing but a destitute white paper. Jing seemed to exclude the possibility of his company holding an ICO.
Eric Jing Views
According to Eric Jing:
“The current phase is like the internet bubble period in the 1990s.” While saying that, he added:
“Ant Financial has drawn a clear line with ICOs.”
The local media source “The Paper” reported that the CEO, Eric Jing further described that, despite the fact he has his full confidence in blockchain’s ability as a trust mechanism for the upcoming digitalized society, the bubble at this time is probably going to burst within the next two or three years and only after that, the industry will be capable of seeing real blockchain applications coming into place.
Eric Jing’s Role in Alibaba Group
Alibaba Group is a famous internet entrepreneur in the country, China and Jing is a long-time veteran of this Group as he has helped a lot in growing the AliPay business, along with its operator, Ant Financial and now it seems like he’s ruling out the ICO fundraising.
Last year, the latter firm made headlines for its obstructed attempt to buy MoneyGram, which is a U.S. payment service. Even with the criticism of ICOs, Alibaba did its best to make a move into the blockchain space as it took great interest in the technological development.
As it was earlier reported, a blockchain-powered platform has been already developed by Ant Financial for charity donations. Moreover, China’s State Intellectual Property disclosed a data and according to that, around 50 patents related to the blockchain have been filed by Alibaba Group, which are currently pending for approval.
Members of the Bitcoin community are always looking for ways to buy and sell products in exchange for bitcoins. Fortunately, several sites make that possible by offering secure and safe platforms for sellers and automatic escrow protection for buyers who bid to purchase their desired items on sale.
The following auction solutions have gotten a lot of attention over the past couple of years:
OpenBazaar is a top Bitcoin auction site for everyone looking to purchase or sell all sorts of items in one place. Although it is believed to be a normal shop on the internet, it does offer some auction functions as well. There is no limit as to what items can be sold on the platform. Also, OpenBazaar’s peer-to-peer nature means there is no company or middleman that can remove or block listings, charge fees, or hold money. By accepting bitcoin payments, sellers are opening up to their offering to the rest of the world.
Another Bitcoin trading platform. Bitify was launched in September 2013 and was first known as CrptoThift. It uses an auction system to sell items. It also offers escrow services to the buyers. The buyers have an option to use the escrow service for 1% fee. This means that Bitify acts as a guardian over the customer funds until the transaction is fully settled. You can browse numerous posted items for sales such as E-gift cards, software installers, online gaming accounts and more. Although, it offers more of digital items rather than physical goods.
This platform has been around the longest and sells items super-fast. Buyers can find reasonable deals on electronic items and much more, whereas sellers can benefit from selling their unwanted products. There have been thousands of feedbacks on this platform and have been nothing but positive. So, make sure to drop by this site if you’re ever looking to sell any items. Glyde provides insurance on every package, so in the rare event an item is lost in the mail you will still be compensated for the sale. It is the best bitcoin trading platform to buy and sell with bitcoins.
To help build and enhance your reputation, opt for websites having built-in feedback systems. Also, make deals with already established buyers where you send them the item first and then wait for them to send bitcoins after receiving the goods.
REMEMBER! Your buyer should have an established reputation so you don’t suffer a loss. There could be cases where you send the item to the buyer and they never send the payment.