In the world of Bitcoin and digital currency, convenience plays a key role for a majority of the userbase. Buying Bitcoin in a convenient manner remains a challenge for most novice users, as they would prefer to use traditional payment methods such as PayPal and credit cards. Coinizy, on the other hand, is doing something different by launching the world’s first Bitcoin to PayPal exchange.
Buying Bitcoin still remains one of the biggest hurdles to overcome for the mainstream audience that the community so desperately wants to reach. Once a person runs out of Bitcoins in their wallet, they have to look for a quick and convenient place to purchase more coins. This is not always an easy task, but Bitcoin startup Bitnik Reload aims to change all of that.
Despite Europe being far more open to the idea of Bitcoin and other virtual currencies, there are still quite a few hurdles to overcome when purchasing Bitcoin for the very first time. There are already various exchange platforms available to European customers, but having more competition in this market can only be beneficial in the long run. CoinCorner, a reputable Bitcoin exchange based in The Isle of Man, has now expanded their services to European customers.
One of the most popular ways of buying and selling Bitcoin in exchange for fiat currency comes in the form of a Bitcoin ATM. Similar to how a bank ATM operates, Bitcoin Teller machines can accept fiat currency bills or hand them out, depending on which type of action the consumer takes. But how is the Bitcoin ATM landscape looking today? Let’s find out!
Bitcoin exchanges have to keep up with the competition if they want to stay relevant while adding innovative new features to their platform. Sometimes, those new features come in the form of taking a huge gamble to facilitate the buying and selling of Bitcoin. Even though credit cards were never intended to be used for online purchases, Bitcoin exchange Coinbase will start accepting card payments very soon.
Coinbase’s Aggressive Expansion Plan
The name Coinbase is synonymous with buying and selling Bitcoin in the United States, as well as 27 other countries around the world. Ever since the company opened its doors to the public, it became adamantly clear Coinbase was forging a path of expansion and did so at an aggressive rate.
It will only be a matter of time until centralized Bitcoin services will feel the wrath of the traditional financial ecosystem as we know it. Several Bitcoin exchanges have been struggling to find reliable banking partners in recent years and certain banks started halting all transfers involving Bitcoin. But when Bitcoin service providers start freezing funds and banning bank accounts themselves, things are starting to look very worrying.
Even though many customers are still struggling with the idea of purchasing Bitcoin from an exchange through bank transfer, there are other solutions available. Not just in the form of using Bitcoin ATMs, which are also a great way to buy Bitcoin. Bitcoin exchange 247Exchange is making the process of buying Bitcoin with a credit card even smoother than it was before.
Making The Bitcoin Buying Process More Consumer-friendly
In our latest article on how to buy Bitcoin, we mentioned that using a credit card is not possible when it comes to Bitcoin from most traditional exchanges. However, there is one emerging exchange that has integrated card payments for buying Bitcoin into their platform. 247Exchange.com is best known for allowing purchases and withdrawals through most major credit cards.
Buying Bitcoin has become increasingly easier in the past few years, with so many exchange platforms and Bitcoin ATMs popping up all over the world. That being said, buying Bitcoin remains one of the most difficult hurdles to overcome for novice users. Plus, verification procedures are not making matters any easier.
Buying Bitcoin – What Do I Need?
Before you can start buying Bitcoin, there are a handful of things you will need. First of all, you will need to install a Bitcoin client, either on your computer or mobile device. The installation procedures are very straightforward and self-explanatory. Once you have a Bitcoin client installed on your preferred device, a new wallet address will be generated on your behalf. This address is of great importance, as this is where your future Bitcoins will be sent to.
More and more Bitcoin wallet providers are starting to explore the possibilities of launching mobile buy-and-sell functionality within their application. In the case of Bitcoin wallet provider Airbitz, the customer is not necessarily tied to using one specific Bitcoin exchange for buying and selling goods. For the time being, this feature will only be available to US customers, but the company hopes to expand the service on an international scale relatively soon.
The usage of Bitcoin in Spain has been on the rise in recent months, thanks to various efforts by companies such as Chip Chap. Additionally, a few new Bitcoin ATMs have also been installed at prominent locations in Barcelona, which could boost BTC adoption. And Coinay has launched a voucher system, allowing customers to buy Bitcoin from retail locations.
Coinay – Buying Bitcoin with Vouchers
One of the main issues which novice users struggle with at the moment, is buying their first Bitcoin(s). Signing up for an exchange and verifying your identity is a tedious task, requiring a ton of personal information that not everyone is eager on handing out. Plus, in most cases, you have to wait a few days before this process in completed.