Wondering how or where to buy Bitcoin? Look no further. Here is a complete guide with list of all ways to buy Bitcoin and cryptocurrencies instantly. If you are a beginner, there are multiple factors that needs to be kept in mind while buying bitcoin or any other cryptocurrencies out there. Liquidity, Security and Mode of payments and withdrawals available are three key features you need to look for while choosing an exchange to buy or trade crypto.
Buy Bitcoin With Credit Card
Listed are the top exchanges to buy Bitcoin online with credit card. These exchanges offer high level of security and liquidity in the market.
Binance is one of the biggest exchanges in the world by daily trading volume. You can buy Bitcoin and multiple other cryptocurrencies on Binance using credit card. Binance is best known for its security, liquidity and transparency. If you are looking for trading Bitcoin, Binance’s state of the art matching engine is considered to be the best available in the market with capability to process millions of transactions in a second. Binance provides spot trading, margin trading, and futures trading option to customers on its platform.
Trusted by millions around the world, IQ Option is one of the most popular online trading platform. Apart from cryptocurrencies, IQ Option also provide multiple financial products. You can buy stock, ETF, and forex. IQ option payment gateway is considered the best and easiest to onboard fiat users. If you are looking to buy Bitcoin to transfer to your private wallet, Binance is the better option as IQ Option does not provide withdrawal facility for cryptocurrencies. However, if your priority is trading, IQ Option has one of the best leverages offering in the market with 100x leverage for Bitocin.
Buy Bitcoin On App
Similar to desktop site, Binance offers credit card purchase on it app currently available on Android. On the app home screen, you can choose the credit card option and buy Bitcoin for the amount you wish to. Performance wise Binance mobile app is as good as the desktop version with a user friendly UI you can use on the go.
If you are looking to store you crypto on a wallet with your own private key, Trust wallet is the way to go. With multi cryptocurrency support, Trust wallet offers credit card purchase to buy bitcoin instantly. Trust wallet also provides access to Binance Dex, if you wish to trade your coins. Trust’s fast and secure multi coin wallet is available on iOS and Android.
What is Bitcoin?
Let’s try to explain Bitcoin in layman’s terms. If you are planning to buy Bitcoin, you surely needs to know what it is and how it works.
Let’s take our normal credit card purchase to lay the plot. When you provide your credit card to a shopkeeper, shopkeeper uses a POS machine to connect to the Bank to check if you are good for the money. The Bank checks its ledger to see if you have enough money, and if you do, bank update its ledger by deducting the money from yours and adding it to the shopkeepers account. The banks obviously charge a commission to provide that service.
The vision with Bitcoin is to remove the banks from the system, to have a system that need not rely on trust. But, how or who will keep the ledger updated. Thats where bitcoins decentralized network plays a role. There are hundreds on bookkeepers in the network, who all record and verify every transaction that happens. This ways it is impossible to manipulate the records in the system. In the process, a random bookkeeper (A Miner) is rewarded with some bitcoins. These bookkeepers or miners are not people, but computers in the network.