Buy Bitcoin – uncomplicated and fast

by craftmin | July 16, 2018

Since 2012, the Bitcoin circuit has been undergoing a rapid rally, not even setbacks caused by hacker attacks can change that. Anyone who bought Bitcoins a few years ago for a few hundred euros is now a millionaire. But how do you get ownership of Bitcoins and where can you buy Bitcoin?

 

HOW DO I BUY BITCOINS?

Bitcoins showed a respectable performance in the past years. In 2016 alone, the Bitcoin share price rose by more than 126 percent. In 2017, bitcoin reached new highs of around $20,000 and some analysts predict that the price of bitcoin will rise to $500,000. Others call Bitcoin “hot air” and believe that it is actually worthless. Ultimately, however, the price of bitcoins is regulated by supply and demand. And the demand for anonymous money like bitcoin is constantly increasing. The reasons for this were, for example, capital controls in China, which can be avoided with the help of crypto money, the purchase of illegal goods in the Darknet, which is often handled via Bitcoin, and simply the investment in Bitcoin as speculation.

In view of this performance, interest in the crypto currency is growing among many investors. There are several ways to buy Bitcoin. The advantages and disadvantages of the various options are discussed here:

 

BUY BITCOIN QUICKLY AND EASILY: BITCOIN-CFD

Buyers who are mainly interested in the participation of the performance of Bitcoin and less in the aspect of anonymity can trade bitcoins relatively easily via a CFD broker. It takes about ten minutes to open an account, you can pay by credit card, PayPal or bank transfer. You can imagine a Bitcoin CFD as a security. As an investor, you participate directly in the development of the bitcoin price, but do not own the bitcoin physically. Speculative investors can still provide the Bitcoin CFD with a lever.

A 1:1 participation without leverage is of course also possible. The biggest advantage, however, is that you can get your money back at any time in case of a sale. There are daily payout limits at various Bitcoin exchanges (for example bitcoin.de). A payout of the capital can take several days.

If you want to buy or sell Bitcoins as CFD, you can use the finanzen.net partner Plus500. Plus500 also offers credit card and PayPal deposits, as well as very fast account opening without Postident. Of course, you can also use any other CFD broker of your choice.

 

BUY REAL BITCOIN

If anonymity is important in addition to performance, there is no getting around real bitcoins. If you have decided to buy real Bitcoins, the possession of a Wallet is a basic requirement. This electronic wallet resembles a current account, as it can be used to make bank transfers and receive bitcoins. The transfer of bitcoins is basically the same as a bank transfer, but instead of an account number, it is referred to a receiving address. However, because the digital currency is sent directly from person to person without an intermediate instance, the fees incurred are lower than for banks.

If Bitcoins are purchased on several portals, all Bitcoins can be combined in a Bitcoin-Wallet. A Bitcoin Wallet on a smartphone is suitable for everyday use, but a Wallet is also possible only for online payments on a PC or tablet. After downloading and installing a Bitcoin Wallet, it should be secured with a strong password, a so-called passphrase. In future, this access code must be entered before each transaction.

 

BITCOIN MARKETPLACE

If you want to buy the crypto currency Bitcoin, you can do so online on a so-called Bitcoin marketplace. The most famous German marketplace is bitcoin.de. Here the users trade directly with each other, so that the price results in some way from supply and demand, which usually ensures a relatively good bitcoin price. On marketplaces like bitcoin.de registered users post their offers to buy or sell Bitcoins with another currency. Buyers can see how many Bitcoins a seller offers at what price. A transaction is concluded as soon as an offer is accepted by another user. The purchase price for the acquired Bitcoins will be transferred to the seller’s bank account. Depending on the marketplace, the operators charge a small fee for the exchange, for the deposit, and/or for the payment of the money. However, this fee is usually less than the price difference between buying and selling at exchange offices. Buyers and sellers pay half of the Bitcoin fees.

To trade via bitcoin.de you should have an account at Fidor-Bank. This is generally not a problem, but it means the effort of a normal account opening including video identification procedures etc. So the process may take a few days. In the world of Bitcoin and Co. this time can mean a difference of a few thousand dollars. You can open the account at bitcoin.de here.

 

BITCOIN EXCHANGE

Bitcoin exchanges are the alternative way to buy Bitcoins. The best-known trading exchanges include Bitfinex, CEX.IO, Kraken, Bitstamp and Paymium. Again, account opening or verification may take time.