How to Purchase Bitcoin instantly in 2020

How to purchase Bitcoin
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In this article, I’m going to explain How to purchase Bitcoin instantly through the 6 different ways. Here I will explain purchase Bitcoin with a credit card, PayPal, Bank Account, Cash, Skrill, and Bitcoin ATM.

Finally, I will mention the frequently asked question when beginners are going to purchase Bitcoin.

Also, I will mention the additional Bitcoin purchasing options and their payment methods after explaining each method. So, let’s learn quickly, how to purchase Bitcoin instantly,

How to Purchase Bitcoin instantly

Here is the major steps to following, purchase Bitcoin instantly,

  1. Get a SECURE Bitcoin wallet
  2. Select the Bitcoin purchase method
  3. Select the Bitcoin exchange that fit with your purchase methods
  4. Create an account on Bitcoin exchange that selected in step 3
  5. Purchase Bitcoin instantly
  6. Withdraw your Bitcoins into your selected wallet

First of all, Let’s find out the best Bitcoin exchanges to purchase Bitcoin with a credit card, PayPal, Bank Account, Cash, Skrill, and Bitcoin ATM. Let’s dive into the article,

#1 Purchase Bitcoin with credit card

Currently, the easiest way to purchase Bitcoin is with the credit card where the fees are affordable in most cases. Let’s find out the best Bitcoin exchanges to purchase Bitcoin with a credit card, and their pros and cons, Bitcoin purchasing fees, and additional payment methods as well.

I should mention that the easiest way to purchase Bitcoin is using the credit card but some exchanges will ask you to verify the identity and credit card hence it will take a longer time but here Cex.io instant buy option does not ask to verify the identity in the first time of the exchange use. In case, Cex.io will ask you to verify the payment card before purchase Bitcoin.

Cex.io

Cex.io UK registered, legally compliance Bitcoin exchange which supports fiat payments through credit cards, swift transfer, ACH transfer. Cex.io supports so many countries for Buy/Sell Bitcoin and it allows you to deposit and withdraw fiat currencies like EUR, GBP, USD, and RUB.

Currently, Cex.io Bitcoin exchanges support almost every country where following countries restricted credit cards payments, Iceland, Vietnam, Afghanistan, Algeria, Bahrain, Iraq, Kuwait, Lebanon, Libya, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, and Yemen

Cex.io fee structure

Cex.io will charges 2.99% of the total deposit amount for USD, EUR, GBP, and RUB when using credit/debit cards.

Cex.io charges a trading fee, it will depend on the 30-day Bitcoin volume. The maximum trading fee is 0.25% of the total amount. If your trading volume increase, then trading fee decrease

Cex.io additional fiat payment methods

Credit or debit card [Visa & Master]
International Bank transfer
Domestic bank transfer

Cex.io pros

Great security with 2FA
Worldwide support for purchase Bitcoin
Transparent fee structure
Transparent fee structure
Good customer support

Cex.io cons

Spending limits for both Bitcoin buying/selling
Instant Bitcoin purchase option rate is little higher than the actual market value of Bitcoin

How to Purchase Bitcoin on Cex Bitcoin exchange?

01. Go to the Cex.io Bitcoin exchange and select the “Instant Buy” under “Products” in the main menu

How to purchase Bitcoin on Cex.io

02. Then select the BTC and preferred currency then select or enter the custom amount you want to purchase and then hit the “Buy” button.

03. Next, fill the registration form, confirm the email address, and then add the correct personal details.  

Register on Cex.io

04. Next screen, enter the card details and then, upload the requested docs to verify the card.

Add credit card on Cex.io

05. If you are correctly following the process, you will direct to Bitcoin purchase selected in step 1 and confirm the order.

If you can’t opt-in the order confirmation page, go to the Buy/Sell tab in the main menu and follow the process.

Now let’s look at alternative ways to purchase Bitcoin with a credit card or debit card,

 ExchangeSupported CountriesFeePayment optionWebsite
coinbaseCoinbaseUS,Europe,Canada3.99%Credit/debit card,
Wire transfer
Visit
coinmamaCoinmamaGlobal5%Credit/debit card, Wire transferVisit
coinhouseCoinhouseEuropeN/ACredit/debit card,
Wire transfer
Visit
changellyChangellyGlobal5%Credit/debit cardVisit
bitpandaBitpandaEurope5%Credit/debit card, Bank transferVisit
bititBititGlobal1.5% + 1.49%Credit/debit card,
SEPA,
Cash Voucher
Visit

#2 Purchase Bitcoin with PayPal

In this section, you will find out How to purchase Bitcoin with PayPal. Currently, purchase Bitcoin with PayPal is not easy because, there are a few options available such as P2P, and eToro exchange but eToro does not allow to withdraw the purchased Bitcoin from their platform to another third-party wallet. Let’s discuss, best and easiest way to purchase Bitcoin with PayPal.

Paxful supports almost every country in the world.

Paxful

Paxful is also, peer to peer Bitcoin exchange which supports more than 300 payment methods including Paypal, Credit/debit card, Wire transfer many more.

Paxful fees

Paxful does not charge any fee who are buying Bitcoin from the Paxful.

When you purchasing Bitcoin from another customer, Paxful will charge some fee for that transaction where the fee will depend on trade size, the currency used, customer’s verification status.

Transferring funds from Paxful wallet to another Paxful wallet free of charge for the first 5 transactions sent per month and then It will charge 1$ for each transaction.

Transfering Paxful wallet to external Bitcoin wallet, Paxful will charge 0.0005BTC per each transaction where the charge will be reduced from the available wallet balance before a transaction is done. If you want to check complete payment info check Paxful fees.

Paxful additional fiat payment methods

Gift card[Amzaon, iTunes, Wallmart, and many more]
Cash App
Payeer
Payoneer
Payza
SEPA, and Bank Transfer

You can find out 300+ fiat and crypto payment methods to purchase Bitcoin

Paxful pros

Worldwide support and few countries not supported
Bunch of payment options including PayPal, Credit/debit card, Wire transfer
Escrow service for community protection
Good customer support

Paxful cons

Limitations to buy Bitcoin

How to Purchase Bitcoin on Paxful P2P exchange?

1. Let’s go to the Paxful website and click on the “Create Account” tab of the main menu. Then fill all the fields correctly, and complete the registration process.

How to purchase Bitcoin on Paxful

2. Then you will direct to the dashboard of the Paxful. Then click the “Buy Bitcoin”  tab of the menu and select “Buy Bitcoin” from the drop-down. Then select the payment method as “PayPal”, amount, and the currency. Then hit the “Search For Offers” button.

Paxful offers

Before selecting the seller, check these facts,

Seller reputation
Offer terms of the seller
Trade limits
Past customer reviews

3. After that, select the best rate and click the “Buy” button. Then you will direct to the offer page and you can see all the details related to seller offer terms, seller feedbacks, and limits, and many more.

Paxful offer page

4. After that, you can start the trade by hitting the “Buy Now”. Also, you can start the chat with the seller.

Paxful start trade page

Also, you can purchase Bitcoin with PayPal using other P2P exchanges such as LocalBitcoin, LocalCryptos, even with eToro exchange.

#3 Purchase Bitcoin with Bank Account

There are not many exchanges supporting the purchase Bitcoin with a bank account but Coinbase supports the Bank account linking for the supported countries but the process is taking the longest time. Let’s take a look at how to purchase Bitcoin on Coinbase exchange.

Coinbase

Coinbase is US based San-Francisco headquartered, regulated popular cryptocurrency exchange which is one of the most popular Bitcoin exchanges in the US and it supports major fiat payment methods such as credit card, bank account, wire transfer.

Currently, Coinbase supports the USA, UK, Canada, Australia, Singapore, EU countries, Mexico, Chile, All EU countries.

Coinbase fee structure

There are two types of fees which are a flat fee and a variable percentage fee.

When using a credit card Variable percentage fee will apply which is about 3.99% of the total transaction and the variable percentage fee depends on region and payment methods.

If you are in the US, Canada, Australia, Europe, and Singapore credit card variable percentage fee remain 3.99% of the total transaction and That is will vary for other payment methods.

Coinbase indicates what are the fees are charged before made any transaction.

Coinbase charges a spread margin of 2% for digital currency conversion, for example, Ethereum to Bitcoin.

The standard network fee applies for a digital currency withdrawal from the Coinbase exchange that is fluctuating with the market condition.

Coinbase additional fiat payment methods

Credit or debit card
Wire transfer

Coinbase pros

Regulated Cryptocurrency exchange
Transparent fee structure
Great security with 2FA
Beginner friendly and Amazing user interface

Coinbase cons

Few countries support
Sometimes funds can be delayed deposit and withdrawals
Buying Limits and May track your buying activity
Poor customer support

How to Purchase Bitcoin on Coinbase?

01. Register the new Coinbase account & verify the phone number and identity

How to purchase Bitcoin on Coinbase

02. Then go to the account setting then add the bank account & verify it.

Add bank account on Coinbase

03. Next, click on the “buy/sell” tab in the menu then select the Bitcoin & enter the amount of Bitcoin you want to buy. Then hit the “Buy Bitcoin instantly”.

#4 Purchase Bitcoin with Cash or Bank deposit

In this section, I will discuss how to purchase Bitcoin with Cash or Bank deposit and sending the cash through the mail. In case, the preferred Bitcoin broker is WallOfCoins. Let’s find out how to purchase Bitcoin with Cash or Bank deposit.

WallOfCoins

Wallofcoins is a US-based, peer to peer Bitcoin market place which supports cash deposits on the bank and no online bank to bank transfers. Wallofcoins funds store in the secure cold storage wallet to manage its user’s wallet and funds.

WallOfCoins supports countries like the United States, United Kingdom, Canada, Australia, Argentina, Brazil, Germany, Latvia, Mexico, Philippines, Romania

WallOfCoins fees

Wallofcoins does not clearly mention the fees, I think the fees include in the rate of Bitcoin. Also, the fees depend on the order size, advertisement.

Wallofcoin of pros

Excellent customer support
Bitcoin escrow service for the community protection
Cold wallet storage facility
Many cryptos can purchase other than the Bitcoin

Wallofcoins cons

Few countries support

How to Purchase Bitcoin on Wallofcoins?

1. First, you should go to Wallofcoins P2P exchange then, click the “buy” button in the middle of the page.

2. Then you will direct to the “Buy Bitcoin with cash” page. Click on “Find my location” button which will find your nearest bank to deposit cash or well come to skip location.

How to purchase Bitcoin on WallOfcoins

3. Next screen, Enter your Bitcoin receiving address which is your personal Bitcoin wallet address then click the “Next” button. Also, you can leave the entering Bitcoin address, later you can withdraw Bitcoin from the Wallofcoins wallet to your personal wallet address.

WallOfCoins Bitcoin purchasing address

4. Next screen, you should enter the USD amount you want to purchase then click the “Next” button. If you are not enabled the location service, the next step it will ask you to enter zip code in your area then click the “Next” button.

5. Next screen, you can see available Bitcoin best rate offers that are nearest to your location. Then select the suitable offer and click the green button with an arrow.

WallOfCoins offers

6. In the next three steps, WallOfCoins will ask to enter the email address, phone number, and preferred password. Next screen, it will ask to enter the verification code that receives into your phone number then clicks the “Next” button.

7. After that, Wallofcoins will show you bank deposit details, here you should print or copy the details. Then go to the bank and deposit the USD amount and don’t forget to write the reference info that is provided the order number.

WallOfCoins bank deposit details

8. Then click the ” Deposit finished” button on the exchange dashboard then upload the proof of payment document (bank deposit receipt) into the Wallofcoins.

9. Then the seller will release the Bitcoin when the seller confirms the deposit and you will receive the Bitcoin within few minutes.

Also, you can purchase Bitcoin with cash via the LocalBitcoin, Paxful, LocalCryptos, Bitquick, LibertyX, Bitcoin ATM.

#5 Purchase Bitcoin with Skrill

In these sections, let’s find out how to purchase Bitcoin with Skrill on LocalCryptos.

LocalCryptos

LocalCryptos is a peer to peer cryptocurrency market place with worldwide cryptocurrency buyers & sellers. It is founded back in 2017 by two cryptocurrency enthusiasts who are from Australia formerly it is called LocalEthereum.

Currently, it supports Bitcoin & Ethereum only and LocalCryptos supports worldwide.

It supports so many fiat payment methods including PayPal, Payeer, Western Union, SEPA transfer, Wechat Pay, Webmoney, Alipay, etc.

LocalCryptos fee structure

LocalCryptos charges 0.25% for maker fee (Person who list the offer) and 0.75% for taking a fee(person who takes the listed offer).

Also, you should pay a standard Ethereum network fee.

LocalCryptos additional fiat payment methods

LocalCryptos additional fiat payment methods

Advcash
Alipay
Cash in person, and Cash deposit
WechatPay
Sefa transfer
PayPal
PAYEER
Yandex.Money

LocalCryptos pros

Many payment methods
Convenient fee structure
Good customer supports

LocalCryptos cons

No mobile app
Chance gets scammed

How to Purchase Bitcoin on LocalCryptos?

01. Register a new account on LocalCryptos. Also, you can use an existing wallet to sign in the exchanges such as Metamask, Ledger.

How to purchase Bitcoin on LocalCryptos

02. Next click on the “Browse” button then select the proper option in filter located top of the offer page where you should select the payment method as Skrill.

LocalCryptos Skrill offers

03. Next, select the best rate sell offer and click the “BUY BTC” button on the right side.

04. Next step read the “trade terms” & open new trade also, you can communicate with the seller after open the trade

Start trade on LocalCryptos

05. After the seller escrow the Bitcoin, you should make the payment via the Skrill

06. Then the seller will release the escrowed Bitcoin and wait to receive the funds into your LocalCryptos Bitcoin wallet

#6 Purchase Bitcoin Bitcoin ATM

Bitcoin ATM is an automated teller machine that is very similar to traditional ATMs but Bitcoin ATM is connected to Bitcoin exchange instead of connects to the bank accounts.

The easiest way to purchase Bitcoin with cash is by using the Bitcoin ATM where some of the Bitcoin ATMs support the credit card.

If you want to find more information about the Bitcoin ATMs machine check what is Bitcoin ATM

How to find Bitcoin ATM near me?

There is a website called Coin ATM Rader that helps you to find near Bitcoin ATM through an interactive Bitcoin ATM map. Coin ATM Radar is listed almost every Bitcoin ATMs in one place and It is updated over time.

You can view the ATM by manufacturer, buy or sell method, location address.

Bitcoin ATM pros

Chance gets scammed
Easiest ways to buy Bitcoin
High anonymity and privacy

Bitcoin ATM cons

High fees
Limited customer support service
Limited spending limits

How to Purchase Bitcoin with Bitcoin ATM?

There are many types of Bitcoin ATMs. In case, purchasing Bitcoin in each machine type is different. So, I’m going to explain the major steps for purchase Bitcoin in “genesiscoin” ATM producer.

1. First of all, locate the ATM using CoinATMRader Website.

2. Select the “Buy Bitcoin” if the ATM machine is two-way otherwise default you can select the “Buy Bitcoin”

3. Then, enter the phone number, next you will receive the verification code into your phone number and confirm it by entering the received code.

4. In the next screen, scan the QR code if you have installed a Bitcoin wallet on your phone. If you don’t then select the generate paper wallet for receiving Bitcoin.

5. Then enter the Cash into the machine and the amount of fiat will immediately show on the screen. That’s all you have to do to purchase Bitcoin.

Modern Bitcoin ATM machines consist of fancy options, So the process will differ from the step out above.

Frequently Ask Questions

What is the easiest way to purchase Bitcoin?

Already you know, the easiest ways to purchase Bitcoin with the credit or debit card. In case, some of the exchnages consits of the time consuming identity verification process. Also, if you can access the Bitcoin ATM, you can pruchase Bitcoin easily but the fees is very expensive

Can I purchase Bitcoin at Walmart?

There is no direct way to purchase Bitcoin with the wallmart but youu can purchase Bitcoin with Wallmart gift card on the Paxful P2P website

How much does a Bitcoin cost to purchase?

Cost for purchasing Bitcoin is different in each of the exchanges. In most cases, it will costs 1% – 5% of the total amount you are going to purchase.

Which Bitcoin wallet is best?

If you are serious about the Bitcoin wallet security, I recondes you to purchase Ledger or Trezor wallet otherwise, beginner frienfly Blockchain wallet.

What is the cheapest way to buy Bitcoin?

Currently, I can recommends the eToro exchange that is not charge any fee for purchasing Bitcoin. Also, you can’t withdraw the Bitcoin from the eToro platform.

Conclusion – How to Purchase Bitcoin instantly

In this article, I have discussed, how to purchase Bitcoin with 6 six different ways such as buying Bitcoin with credit card, PayPal, Skrill, and Cash.

Also, you can learn about the associated fees, pros, cons, supported countries, payment methods of each of the exchanges.

Related helpful readings,


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