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Buying bitcoins: The complete guide

Have you heard of Bitcoin yet? Are you curious? Have you often thought that you would like have and use bitcoins? Did you get stuck trying to figure out how to get your hands on bitcoins. Did it seem too hard and complicated? Don't worry. We’ve prepared a guide to help you to buy bitcoins.

August 06, 2019
Bitcoins for beginners, Stock Exchanges, Acquire Bitcoins

The most common method to acquire Bitcoins is to buy them. Especially if you want to acquire a large amount of bitcoins fast, just head over to any of the many marketplaces or exchanges. There are platforms in just about every country where you can exchange your currency for bitcoins. Just take a look at our list of exchanges, marketplaces, and trading platforms for your currency.

 

Lists of Exchanges and Marketplaces for important currencies

You can exchange nearly every important currency against Bitcoin. Here we present a list of exchanges for some currencies:

US Dollar (USD):
Coinbase, BitStamp, Kraken

Euro (Euro):
Bitcoin.de, Kraken, Bitstamp

Japanese Yen (JPY):
BitFlyer, CoinCheck

British Pound (GBP):
CoinFloor, Bittylicious

Polish Złoty (PLN):
BitMarket.net, BitBay.net

South Korean Wen (KRW):
Korbit, Bithumb, UPbit

Indonesian Rupiah (IDR):
Indodax

Brasilian Real (BRL):
Mercado Bitcoin, Negocie Coins

Australian Dollar (AUD):
ACX.io, Independent Reserve, BTCmarkets.net

Canadian Dollar (CAD):
Kraken

 

Of course, there are many other stock exchanges, marketplaces and exchange offices. You can find some overviews here:

Bitcoin 
Bitcoincharts 
Buybitcoinworldwide 
 

If your local currency is not represented on exchanges, you can often use peer-2-peer platforms like LocalBitcoins, PaxFul or HodlHodl.
 

How to buy Bitcoin on Exchanges and Marketplaces

In general, you have to register on a platform in order to be able to buy bitcoins. This normally requires some kind of identity verification. For smaller amounts, showing your bank account is usually enough; for larger amounts, you often have to verify your identity through a video service or by uploading identification documents. These processes have now been standardized, so they generally only take a few minutes.

When done so, you can buy Bitcoins to a fixed price. On exchanges this is usually called "market order". To be able to buy Bitcoins, you first need to transfer money to the bank account of the exchange. On marketplaces you can accept the offer of other users, usually by clicking on it. In most cases you pay them directly via bank transfer or other transfers.

If you are not in a hurry, you can put your own offer on exchanges and marketplaces. To do so you determine a price and an amount of Bitcoins to buy. Then you wait until someone accepts your offer. On exchanges this is usually called "limit order".
 

Bitcoin-ATMs and Gift Cards

In addition to internet platforms, you can also purchase bitcoins through bitcoin ATMs. These normally operate by depositing cash, and don't involve identity checks or waiting times. There are maps that show the distribution of bitcoins ATMs; in Switzerland, you can even buy bitcoins at ATMs in local train stations.

CoinATMRadar
 

In some countries – like Austria and France – you can also purchase bitcoins at kiosks that sell bitcoin vouchers. In Liechtenstein you additionally have the option of purchasing bitcoins directly from local post offices.

 

BitBucks

Yet, we from BitBucks didn’t create our wallet to store your savings in form of bitcoins. It’s more about a simple and secure payment tool, for the quickest and easiest way to pay with Bitcoin. Download our simulation app on iOS now and help us bringing BitBucks into the life of everybody!

 

Philipp Peters
Written by

Philipp Peters

Philipp works as a Online Marketing Manager at BitBucks. He keeps track of the daily developments all around cryptocurrencies. For him, one thing is clear: The future belongs to Bitcoin. 

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