Looking to get involved in the cryptocurrency markets? With Bitcoin’s price booming, many people are excited about the current and future prospects of “crypto.” Here are some ways you can buy Bitcoin, Litecoin, and Ethereum using government issued money or other cryptocurrencies. In general, the easiest way to get any cryptocurrency is to first buy Bitcoin, and then trade for the altcoins (though this is not true for Litecoin and Ethereum, which can be purchased on Coinbase).
Here are the top five best Bitcoin exchanges to buy, sell, and trade for crypto.
1. Buy Bitcoin, Litecoin, or Ethereum in the USA (and 33 other countries) Using Coinbase.com
Armed with only a bank account, you can buy Bitcoin, LTC, or Ethereum from Coinbase fairly quickly and easily. Bitcoin has instant verification with Chase bank, so it’s the recommended choice if you have a few bank accounts. If you can’t afford a full Bitcoin (roughly $1000), don’t worry, you can buy portions of the cryptocoins as well.
Coinbase also services these other countries: Singapore, Australia, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, Greece, Hungary, Ireland, Italy, Jersey, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Portugal, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, and Canada.
2. Another Popular Alternative: CoinMama (Limited to certain US States)
Many users love Coinmama as a Coinbase alternative. Coinmama accepts cash and credit card and is a great alternative. That said, it can only be used in certain states (California, Colorado, Florida, Illinois, Indiana, Kansas, Massachusetts, Michigan, Montana, New Mexico, North Carolina, Pennsylvania, South Carolina, Tennessee and Texas reports 99bitcoins.com). Coinmama also charges 5% for using a credit card and it’s Bitcoins generally cost more. The biggest advantage to Coinmama is enhanced privacy; Coinbase has been known to track users and ban them for spending funds in ways it deems suspicious or inappropriate.
3. Trade Bitcoins Locally Using LocalBitcoins LocalBitcoins.com
For people who may lack bank accounts or would prefer to do things without involving Coinbase or banks, Local Bitcoins is a popular alternative. There are many sellers and they’re all rated, so one can be sure to purchase from a reliable source.
4. Trade or Daytrade Bitcoin for Litecoin, Peercoin, Namecoin, Novacoin, Dashcoin, USD, Rubles, or Euros at BTC-E.com
If you’re interested in trading, you can trade Bitcoin for the all the aforementioned coins at the most popular Bitcoin trading exchange, BTC-e. I don’t recommend putting cash into BTC, as you will have to use an international wire transfer and I have seen many complaints in the chatroom on the site regarding depositing cash. In any case, the site is by far the fastest, best way to trade cryptocurrencies on a daily basis. If you are looking to day trade cryptocurrencies, this is the best place where anyone can do it, though some say MCXnow is truly the best, but that site is currently not allowing new registrations, nor is it functioning. BTC-e is very fast and has a lot of volume. As far as I know, it is the only place where day-trading is possible at all in terms of volume and transaction speed.
5.Check out even more on options on R/Bitcoin
Looking for an exhaustive guide to buying, selling, and trading Bitcoin? Reddit.com/r/bitcoin’s Newcomer FAQ has a huge lot of information regarding buying BTC, buying things with BTC, and storing your own cryptocurrency. It’s a great read. If for whatever reason these options don’t work for you, there is bound to be something on reddit that does.
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