The Best Places To Buy Bitcoin
This post is in response to those of you who requested more information on how and where to buy your bitcoin.
There are many websites to purchase bitcoin from, more springing up almost daily so it seems. I would however suggest to be cautious and stick with the best places to buy bitcoin from. The ones on this list have good reputations and a proven track record. The other great things you will find with these sites below is that they provide you with other ways to save and make money (dollars or bitcoin) by referring or ‘inviting’ others.
A very popular choice for buying and selling bitcoin – AND you can make some extra money!
The Coinbase referral program lets you earn a bonus for each successful referral registered to your account!
How it works is quite simple.
- You choose the ‘invite friends’ link from the drop down menu at the top left of the page. On this page you can copy your referral link or send an invite email to a friend.
- Your friends then can click the referral link from the invite (or the link you sent in the email) and sign up for a Coinbase account.
- They then complete setting up their account and they initiate a buy in one of the supported countries. (see the list below)
- When your friend visits coinbase.com/trade and initiates a buy of 100 USD or more (or 100 USD equivalent of your domestic currency) within 180 days of opening their account, both of you will receive a 10 USD (or 10 USD equivalent of your domestic currency) referral bonus when the buy completes. It can take up to 4 business days for ‘buys’ to complete.
This is a brief overview of the Coinbase account setup
Step 1: Create account by entering some simple details
Step 2: Email verification – click the link in the email that was sent to your nominated email address to verify it
Step 3: Choose to add a bank account or credit card.
-> Credit Card: Put in your Credit card information and verify the card
-> Bank Account: You will need to get your routing & account number.
Once added you will have to choose instant or deposit verification. Instant you login via a web portal, deposit takes 2-3 days via snail mail
Step 4: Verify your phone number (This part will require you to use your phone each time for login)
Step 5: Buying your bitcoin. If you use your credit card, there is a $100 limit per week, which can be a bit of a drawback. If you choose instead to use your bank account, you can spend up to $2500. For this option you have to bear in mind that it takes one week to get the coins.
Note: It is possible for you to increase your weekly limit, but you will have to submit your government ID’s for the verification process.
Also as a further note, once the Bitcoin arrive in your account, I would STRONGLY recommend sending them to a much more secure external wallet such as Block Chain. The security there is top notch as it should be when protecting something of value such as this. (Your Bitcoin could have quite a value today, but think about how much it could be worth in 5 or 10 years times according to a lot of experts)
The easiest way to buy bitcoin using a credit/debit card or cash through Western Union
With CoinMama, you can get set up and use a credit/debit card to pay online in a reasonably short time compared to other similar sites. To pay with cash, you choose Western Union as the method of payment and follow the simple instructions to complete the payment.
After completing the payment, you will need to confirm your bitcoin wallet address. This is done by clicking the link in the confirmation email that will be sent out to you. Once payment is verified your coins will immediately be delivered to your wallet. You are able to track your orders at all times under ‘My Account.’
Coinmama allows their customers who are purchasing less than $150 worth of bitcoins to buy without uploading pictures of any ID. Any amounts needed over $150 worth of bitcoins will require you to provide full identity verification.
How does Coinmama’s affiliate program work? – Affiliates earn Bitcoins by bringing in new, satisfied customers!
- You will earn 15% of Coinmama’s commission on ALL of your referrals purchases, that includes now and into the future!
- The Bitcoins you earn will be transferred into your wallet address every two weeks or alterately on demand.
- NO LIMITATIONS! The more customers you refer in to the system, the more Bitcoins you earn.
- Payouts occur only after 3 successful orders have been made by at least 3 different users.
There is a range of Affiliate materials made available to you including beautiful banners and a widget.
An online marketplace where users can trade Bitcoin for fiat cash directly with each other through various means.
LocalBitcoins offers Peer-to-peer bitcoin sales whereby users can list their own trades stating their own exchange rates. You could choose to reply to these advertisements and agree to meet in person and buy the bitcoin with cash or you can trade with someone using online banking.
Integral to Localbitcoins is its reputation system. This is where you will need to do a little research so as to find a trusted exchanger that you feel comfortable to work with. The system does well in helping with the prevention of scamming. They offer escrow and have put many security services in place.
Earning with the LocalBitcoins Affiliate program
- You will earn bitcoins from the users who arrive to the site through your affiliate link, register and make trades.
- Payouts are paid daily into your LocalBitcoins wallet as bitcoins.
- Commissions will be paid out for up to one year from the user’s registration. Commissions are based upon the income the new user brings in for LocalBitcoins ( the trading fees ).
A commission example
You get two users, a buyer and a seller of the bitcoins who register on LocalBitcoins.com. They complete one trade valued at 100 BTC. In this case you earn 20% commission on the LocalBitcoins.com trading fees from both of the participants. In total that is 40% of the LocalBitcoins.com fee, so your earned sum is 0.4 BTC paid into your LocalBitcoins wallet.
So these are three of the best places to buy bitcoin and a lot of that is based on convenience and user feedback.
There are a huge amount of these kind of sites apearing rapidly but time will tell whether they are good options to be using or not. As mentioned earlier, If you use these sites to buy that is fine, but dont take any chances with security. Move your Bitcoin as soon as you can into somewhere such as blockchain where you can rely on their extra security features to keep your BTC safe. Check back on this post occassionally as I will update it as more genuinely good options become evident.
If you are looking to earn Bitcoin from a reliable company with a proven track record of making money for its clients, be sure to check out this post. It focusses on USI-Tech Bitcoin trading and how easily you can get involved in earning daily compounding bitcoin. This can be either passively (you buy packages and earn 1% daily for 140 days as well as compounding to earn faster) or actively (same as before, plus you get all the tools and training to promote and earn substantially more by building a team and earning commissions from their sales ). It is up to you.