Making this guide to Safely Buying Bitcoin Fast, because when I got started buying and investing in bitcoin a couple years ago, it was a painful experience trying to figure it all out. And it still is if you don't know how. It can literally take you hours to figure out if you don’t know where to go or what to do.
If you follow what I say it will take you less than 1/10th the time to get setup safely. Also if you are interested in learning how to invest with Bitcoin, then sign up for my free training where I share how others are making large gains with Bitcoin.
Ok so let’s get started. You are going to need 2 things main things to get started.
Step 1: The First Thing You Need Is A Place To Buy And Sell Bitcoin.
These places are known as an exchange. Like a stock or forex exchange that most people would be aware of.
There are many exchanges out there that all have varying options, pro’s and con’s. Some accept credit card payment, other’s don’t. Some only work in a few countries.
You will need to upload a photo of your ID and confirm your email address to get started. There are no platforms that will accept your application without these details.
To get you started below I have listed the best exchanges. My preference is Independent Reserve because the fees are cheaper and you can can purchase larger amounts.
Independent Reserve
Pros
Electronic Funds Transfer deposits of over $100.00AUD are free.
SWIFT deposits over $5,000.00 are free.
SWIFT deposits under $5,000.00 cost $15, which is industry standard.
Fees start at 0.50% and go as low as .10% based on volume.
Account is approved fast.
In most major Countries; Australia, Austria, Brazil, Canada, China, Denmark, France, Germany, Hong Kong, Italy, Ireland, Japan, Mexico, Netherlands, New Zealand, Norway, Singapore, South Africa, Sweden, Switzerland, UK & N. Ireland, United States.
Cons
They don't accept credit card payments.
Coinbase
Pros
You get $10 for joining.
Credit card fees 3.99% (most charge 6%)
Account is approved quickly.
Cons
Weekly limit starts at $500 then goes up to $10,000 when you are fully verified.
Australian’s can only use credit and debit cards, other Countries can also use direct deposit.
Customers support is not very good.
Only available in Australia, Canada, Singapore, the United States, the United Kingdom, Austria, Belgium, Bulgaria, Croatia, Cyprus, CzechRepublic, Denmark, Finland, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, SanMarino, Slovakia, Slovenia, Spain, Sweden, Switzerland.
Coinmama
Pros
Larger Limit on purchases to start $5,000 per day.
Good service.
Available in all Countries.
Cons
Fees are higher round 5%
The time to be approved takes up to week.
You can join here
UPDATE: I'm now using www.cex.io it is fast to setup like coinbase, it can be used in most countries and the fees are similar to coinbase.
The fastest way to acquire Bitcoin without having to wait for your account to be verified is to use www.localbitcoins.com it is like eBay for Bitcoin. You can also buy Bitcoin with Paypal and many other payment methods not available on other exchanges.
Step 2: When Should You Buy Bitcoin?
I’m not a financial advisor so I can’t advise you on that and to be completely frank even financial advisors don’t know when the right time to buy is. Because realistically the best time to have bought Bitcoin would have been in 2010 when it was 6 cents per Bitcoin.
If you invested $100 in 2010 you would have approximately 1,666 Bitcoin. If you held it until now it would be worth just over $25 Million dollars if you did nothing else with it.
Now I don’t have $25 Million in Bitcoin, but myself and a others are consistently getting passive returns of 1% per day by renting out bitcoin. This is the easiest way I found after being in this industry for many years of growing wealth through Bitcoin.
Source: crytowealthtips.com
