



First off, where do you buy bitcoin? There are a few different ways to do this, but some things must be taken into account, like the market price in respect to vendor cost. With bitcoin, this difference can range anywhere from almost nothing to hundreds of dollars per coin. A couple of other things to take into account are method of payment, and the time it takes for your coins to be available for trade.





The most common methods of payment for bitcoin are as follows. You can pay directly through your bank account, which is linked to a website by verification of identity. Additionally, you can pay via wire transfers, debit card transactions, or cash. Depending on your reason for investing in cryptocurrency, you may want to look at these options differently. Linking your bank account to cryptocurrency can take a little bit of time but makes it easier to pay for cryptocurrency from home or even buy from your phone. The downside to buying with a linked bank account is that government entities and banking institutions can keep track of your purchases, which may not be such a great option depending on your reasoning for investing. Paying with cash is one way of receiving the cryptocurrency directly into your wallet shortly after depositing cash into the vendors account, however this does take time as generally you will have to go to the bank in person and the cost of coins purchased with cash is often higher when compared to purchases made directly via a bank account.





Often times in order to receive your coins immediately you must either pay via bank wire transfer or debit card transaction. The verification process on some websites can be a little tricky and may not be clearly explained upfront. You could end up waiting days, if not weeks to fully access your purchased coins, even if they have already been debited from your account. Websites do this in order to prevent fraud and to protect their customers, however for the new crypto entrepreneur this can be quite the obstacle in efficiently trading your purchased coins. The fees associated with buying, selling, and trading coins can have a drastic impact on your initial investment amount. You may pay $20, $30, or even $40 when purchasing thousands of dollars of bitcoin. Also, the price of bitcoin could drop significantly anytime after your purchase. If you had little to no access to trade your crypto, then you could potentially sustain heavy losses.



