Best Place to Buy Bitcoins Online

Best Place to Buy Bitcoins Online

Best Place to Buy Bitcoins: Bitcoins are the “hot potatoes” of this decade. It’s the wagon everyone wants go get on, but a lot of basic questions still remain unanswered, and one of them is which are the best place to buy Bitcoins.

Even however there are over a thousand Bitcoin buying/selling/exchange platforms existing on the web, a negligible fraction of them are actually trustworthy.

And even a lower percentile of that fraction is worth buying Bitcoins from, because other factors like “fee” ‘security” “anonymity” join in too when you’re looking for the ultimate, best place to buy Bitcoins.

What Makes an Exchange Best?

Before I can ask you to comprehend the best place to buy Bitcoins, it’s only logical for me to explain what exactly makes one exchange better than the other.

Just because an exchange is suggesting low buying fee, or no-signup required kind of features doesn’t mean that it’ll necessarily be the best.

And I’m not the most knowledgeable person on the planet on “Bitcoins”, so I wouldn’t directly point out which platform is the “best”, because they all have their own pros and cons.

Instead what I’ll do is, I’ll walk you through what you should be looking for when you’re attempting to land on the best place to buy Bitcoins, and then you can compare all the available platforms based on your private preferences.

1). Fee

The very first factor I personally consider before reaching a final verdict about any Bitcoin exchange is the fee it charges for the transactions, as well as the fee I’ll have to pay in order to transfer the bits to my own individual wallet. (Because it’s not advisable to keep Bitcoins permanently on any exchange for long!) We’ve done a detailed lump on the fifteen Best Bitcoin Wallets.

Compare what’s the global price-index for Bitcoins, you can do it lightly by simply Goggling “1BTC=$” (Or your currency!) and then compare what price the platform you’re on is suggesting.

It’s best to compare Five+ platforms before zeroing in on any single one of them, because there’s considerable price difference inbetween most of them.

Once you find the lowest-priced platform, wait! Your hunt isn’t over yet. As I said, just the “price” isn’t what makes any platform the best place to buy Bitcoins, so let’s dig in to the other aspects.

Two). Buying Thresholds

Each platform has its own boundaries, and if it’s not adequate and doesn’t suit your buying packets, it’s no use to you. Also it’s an enormously dynamic factor, meaning a suitable buying amount for you might be too expensive, or too low for another person.

Hence there’s no “perfect buying limit” yardstick. Just check out whatever buying limit the platform is suggesting, and if it’s under your requirement brackets, you can proceed to verifying other aspects.

Trio). Privacy

The primary reason why Bitcoins are on the edge of overtaking traditional currency is their capability to be “anonymous”. Hence I do not need to re-elaborate how significant a role “privacy” plays during Bitcoin transactions.

Check what kind of data or verification your Bitcoin buying platforms requires off you. Albeit most platforms require some kind of identity verification, others simply require a real-life photo of yours. (And our #1 platform on this list doesn’t require anything at all!)

So again just compare the platforms and analyze for yourselves which platforms are asking for least identification and weigh in the other factors related to that platform before proceeding.

Four). Mode of Payment

One of the primary factors when it comes to purchasing Bitcoins online is what mode of payment the platforms support. Do they permit buying Bitcoins with Paypal or/and buying Bitcoins with Debit Card / Credit Card?

This also affects the fee structure, there might occur a fee difference based on which payment method you’re going with. Generally Paypal is the cheapest, Credit cards have a slightly higher fee, and the same goes for cash transactions.

So select the platforms which support the payment method you’re comfy with.

Five). Delivery Speed

How long does it take for the Bitcoins to arrive in your exchange wallet is another decisive factor you should consider when attempting to choose the best place to buy Bitcoins.

The speed might be influenced by your country , mode of payment and certain other factors, so make sure you dig deep enough and get a clear picture of exactly how long the coins would take before arriving in your wallet.

So that’s pretty much it. Once you’ve pondered over the above factors you can determine which platform suits your needs the best.

And to make the hunt lighter for you, I’ve compiled a list of some of the best place to buy Bitcoins over here. I’ll be making the above factors semitransparent for the mentioned platforms, and then you can simply match the one which seems the most suitable to you.

Top five Best Place to Buy Bitcoins

Let’s select any available bitcoins market store, where you can buy bitcoins with your local currency, credit cards, Debit cards, PayPal and etc.

Two). Cex.IO

Talking about the best place to buy Bitcoins and not looping in Cex.io just can’t happen. Being one of the oldest Bitcoin exchange platforms in the industry, it has built up fairly the reputation for itself.

a). Privacy

As already stated, most Bitcoin exchanges require some kind of verification these days in order to prevent money –laundering and fraud transactions.

So ultimate privacy is somewhat of a uncommon delicacy. But as its universal, there’s no one single platform you can blame or count this as a “negative factor”.

Cex.io too requires identity verification via a national Identity card as well as they might ask for a picture of the credit/debit card which you use for your transactions.

b). Fee

There are two kind of fee and you need to pay just one of them based on the type of purchase you’ve made.

Cex.io has a pre-embedded fee of 7% which you need to pay if you buy Bitcoins directly from the Cex.io official treasury. That 7% fee is the only fee required when buying Bitcoins from Cex.io

While if you’re trading and buying Bitcoins from other traders, you’re charged Three.5%+0.25% if you deposit the trading amount via a VISA card.

Albeit bank transfers, as you can see are free while Bank-withdrawals are charged at $50/transaction.

And if you’re the “Taker” of the trade there’s an extra 0.2% fee you need to pay Cex.io for making the trade happen.

Bottomline, the fee is acceptable considering the professionalism and ease of buying Bitcoins you get with Cex.io and hence it has earned its place as one of the best place to buy Bitcoins.

c). Mode of Payment

If “ payment method ” was the only factor I had to consider, I’d undoubtedly place Cex.Io right next to LocalBitcoins.

It supports a wide-range of payment methods, including the most common ones used in daily lives:-

  • Bank Transfer
  • Credit Card
  • Debit Card
  • SEPA
  • As well as Crypto Capital for some currencies.

d). Speed

The Bitcoins arrive instantly in your Cex.io account. The same can be said for when you transfer them to a personalized wallet. Obviously all the platforms on this list suggest instant deliverability or else they wouldn’t be on this list on “ best place to buy Bitcoins .”

e). Buying Thresholds

The buying thresholds on Cex.io are influenced by your “ verification level ”. The better verified your profile is, the more coins you can spend or buy.

There are four verification levels, and thresholds associated with them are:-

  • Basic – Daily limit $500, monthly $2000.
  • Verified – Daily limit $Ten,000 monthly $Ten,0000
  • Verified Plus – Unlimited
  • Verified Corporate – Unlimited

The “Withdrawal” boundaries are the same as deposit thresholds on Cex.io

If you’re a bulk buyer, in that case unrestricted buying thresholds are exactly what you need. And it’s one of the reasons which persuaded me of Cex.io clearly being one of the best place to buy Bitcoins.

1). Local Bitcoins

If you’ve gone through any of our other Bitcoin buying guides, you must have noticed Local Bitcoins topping the chart almost everytime.

And that’s not because I’ve some kind of private feelings towards the platform, it’s simply for the fact that they are one of the most trusted platforms to buy Bitcoins from, suggesting the most diverse payment methods, which includes almost every payment method known to man, including Cash, NEFT, Paypal, Paytm, Western Union and what not and requiring zero verification!

a). Privacy

I’ll just go out and say it, LocalBitcoins doesn’t need any kind of verification compulsorily. It’s a platform where you trade with real-humans from around the globe so even if some traders require some verification, most don’t!

I’ve personally had over one hundred trades with zero identification, not even a photo was required and that’s the kind of ultimate privacy which made me list Local Bitcoins at the #1 position for this list on the best place to buy Bitcoins.

A Signup is required, which isn’t tracked by the actual Bitcoin Seller, it’s just to manage your funds so that’s acceptable.

b). Speed

Bitcoins arrive instantly to your wallet once they’re released by the seller. And if you transfer them to your own individual Bitcoin wallet, even then they take a maximum of thirty minutes to arrive.

c). Mode of Payment

Again something which justifies LocalBitcoins being listed at the very top of this list. LocalBitcoins permits you to search for the payment methods you’re comfy with.

And the best part is, it’s the only platform on this entire list which supports “every payment method” that exists on the planet! And not just “payment method”, but it also supports 99% of the global countries so doesn’t matter which part of the world you live in, you can buy Bitcoins from LocalBitcoins.

d). Fee

The fee on LocalBitcoins is divided in two sections. Very first there’s the fee (profit) which the trader /seller charges, so you might find that the prices are slightly higher for coins over at LocalBitcoins because most traders seek to make a profit out of it. Albeit unless you’re buying 1BTC+, the fee doesn’t indeed effect you (because the overall % is much lower on lower amounts of BTC!)

And then in case you wish to transfer your Bitcoins to a more secure wallet, Local Bitcoins charges a slight fee based on network blockchain usage. It’s dynamic but it’s not the “lowest fee” on this list that’s for sure.

But considering all the other services and facilities LocalBitcoins offers, I’m more than blessed to spend duo extra bits.

e). Buying Thresholds

The buying limit too is exceptional and a reason why LocalBitcoins is on top of this list. The thresholds are set by the “sellers” who are selling the coins.

So you can buy anything from 0.00001BTC to 100BTC+ depending on the seller’s and your trust level. (Trust-level is built based on your previous trades, verification-level etc!)

Three). CoinMama

CoinMama is another well-known name in the Bitcoin exchange market. Their primary selling point is the fact that they permit buying/selling Bitcoins via “Credit/Debit” cards.

a). Privacy

As far as privacy goes, CoinMama is slightly better than most other platforms on this list, but not as good as LocalBitcoins. It requires you to verify your identity by packing in a form, and your cell phone numbers as well.

And it require some kind of National identification, or a driver’s license as well. So it’s not big on Privacy, but unless you’re sending money off to Al-Qaida, there isn’t a lot for you to worry about.

Also because CoinMama has publicly assured “privacy” by stating that all your private data stays on an ultra-secure, dedicated server so it isn’t for anyone to just get their mitts on.

b). Fee

CoinMama includes a 6.75% fee with the Bitcoin prices it shows you when you come in the amount of Bitcoins you wish to buy. Meaning the price is pre-included with the fee.

And then there’s an extra 5% fee which is charged by “Simplex” (CoinMama’s payment processor). So in total it adds up to 11.75% fee which is higher than some of the platforms in this list.

But it charges that for its “credit card” services, and as you know the question of “How to buy Bitcoins with Credit Card” has been a leading problem in the industry for fairly some time now so that’s a convenience fee for Coinmama.

c). Mode of Payment

Coinmama supports three primary methods of payment:-

And considering those three also are the most commonly used methods of payment for any individual on the planet, I’d say this undoubtedly is one of the best place to buy Bitcoins from.

d). Speed

Coins arrive instantly on during business hours to your CoinMama account, from where they again can be transferred to any other Wallet of your choice without a second’s delay.

Albeit on non-business hours there’s a delay possibility ranging from duo minutes to duo hours.

e). Buying Boundaries

You can buy upto $Five,000/day and $20,000/month which is a pretty decent limit if you ask me.

It’s a good choice if you can overlook the slightly higher fee rates and the verification procedure.

Four). CoinBase

I don’t think CoinBase needs an introduction if you’ve been in touch with the Bitcoin market lately. It’s one of the most popular names that pops up every now and then and is clearly a ideal platform to land on while digging for the best place to buy Bitcoins.

a). Privacy

It has a user-base of over 6.8 MILLION! Obviously if they’re managing a client-base as big as that, they ought to be precautious as well as careful. So yes you do need to verify your identity as well as credit/debit card ownership.

A photo ID of yours works for the former, while for the latter they make two puny charges to your card which you can verify in order to verify the cards.

b). Fee

It charges a fee of $Trio.99 on most transactions, albeit a slight variation might occur depending on your country of residence. It’s one of the lowest fee any Bitcoin exchange is suggesting presently.

c). Mode of Payment

They support a number of payment methods, including:-

The above payment methods are for US and European customers only. For UK customers, they earlier supported GBP wire transfers which was recently revoked. So the only payment methods for you if you’re in the UK are via:-

d). Buying Thresholds

The boundaries are influenced by various factors, including:-

  • Age of account.
  • Trade-volume.
  • Levels of identity verification
    • o Just identity verification.
    • o Bank verification.
    • o Credit/Debit card verification.

But on a general note, it permits buys up to $500/week. (It will undoubtedly vary according to your account, it’s just to give you a general/average idea!)

e). Speed

Unnecessary to say, if CoinBase is on this list of best place to buy Bitcoins, obviously it offers instant deliverability on the buys.

Five). Virwox

I was acquainted with Virwox on the grounds that it helped me buy Bitcoins with Paypal. Back in those days there weren’t any exchanges which permitted a direct transaction of Paypal for BTC, and Virwox gave me away around it and I’ve been with it ever since.

a). Privacy

This is the best part about Virwox and the primary reason why it’s here on this list as one of the best place to buy Bitcoins from. It doesn’t have any AML or KYC check going on. Meaning there’s no verification they’d require off you.

You just need to Signup which you can obviously do from an E-mail which doesn’t have your name or address on it. Apart from the E-mail there isn’t any other kind of “Verification” required.

b). Fee

I’ll admit the fee structure from Virwox isn’t very pocket-friendly. That’s for several reasons, like they attempting to cover their losses (as they practice a lot of fraud activities), and also because buying Bitcoins using Paypal from Virwox is a multi-step process, you very first need to buy SLL and then convert it to BTC (Here’s the Step by Step guide).

Each step has a fee of its own, hence you pay for “two” transactions instead of one (Paypal > SLL and then SLL> BTC). But if its rigorously “Paypal” you’re looking for as the mode of payment, I’d say Virwox is one of the best place to buy Bitcoins.

It charges a motionless fee of 0.49USD + Trio.5% fee on all “Credit/Debit Card’ transactions. It varies slightly with other currencies but the difference is negligible. Also if you’re exchanging SLL for BTC, in that case the fee is 50SLL + Three.90% of the transaction.

And then there’s the withdrawal fee of 0.01BTC /Withdrawal.

c). Mode of Payment

It’s indeed big on the mode of payments it accepts. Apart from Paypal, other payment methods include:-

d). Buying Thresholds

The buying thresholds on Virwox are based on your “Verification level”, and as they do not require any kind of “identification” for verification, it’s instead determined based on your account’s age and trade-volume.

  • Fresh Accounts:- 90EUR /24 hours and two hundred seventy EUR/30 days.
  • Ten days old account:- 120EUR /day and 900EUR/month.
  • 45 days old account:- two hundred EUR /day and two thousand EUR/month.
  • 90 days old account:- 400/day and 4000EUR/month.

There’s an extra level four which can be activated after completing level three (90 days) and it permits 1,000EUR transaction/day and Ten,000/month!

e). Speed

Virwox has been in the business for over a decade now, making them a contender as one of the best place to buy Bitcoins, so obviously there can’t be any deliverability issues.

Most transactions with Credit/Debit cards, Paypal and other methods are instant, while bank transfers might take duo days.

Final Verdict: Which is the best place to buy Bitcoins from?

So the final question hits up, which Bitcoin exchange is the best?

To be fair, there isn’t any one “Best” exchange as such. It all depends on where you are, how much currency you wish to trade, how pliable you’re on the privacy and verification procedure and so on.

I personally mostly use LocalBitcoins and Cex.io but they may or may not be the best place to buy Bitcoins from for you depending on your individual preferences.

So I’d just say all the platforms on this list are worth it, you can simply pick one or the other and make duo trades with them. After some time you’ll figure out for yourselves the platform which is in most sync with your requirements and then you can stick to it.

Best Place to Buy Bitcoins Online

Best Place to Buy Bitcoins Online

Best Place to Buy Bitcoins: Bitcoins are the “hot potatoes” of this decade. It’s the wagon everyone wants go get on, but a lot of basic questions still remain unanswered, and one of them is which are the best place to buy Bitcoins.

Even tho’ there are over a thousand Bitcoin buying/selling/exchange platforms existing on the web, a negligible fraction of them are actually trustworthy.

And even a lower percentile of that fraction is worth buying Bitcoins from, because other factors like “fee” ‘security” “anonymity” join in too when you’re looking for the ultimate, best place to buy Bitcoins.

What Makes an Exchange Best?

Before I can ask you to comprehend the best place to buy Bitcoins, it’s only logical for me to explain what exactly makes one exchange better than the other.

Just because an exchange is suggesting low buying fee, or no-signup required kind of features doesn’t mean that it’ll necessarily be the best.

And I’m not the most knowledgeable person on the planet on “Bitcoins”, so I wouldn’t directly point out which platform is the “best”, because they all have their own pros and cons.

Instead what I’ll do is, I’ll walk you through what you should be looking for when you’re attempting to land on the best place to buy Bitcoins, and then you can compare all the available platforms based on your private preferences.

1). Fee

The very first factor I personally consider before reaching a final verdict about any Bitcoin exchange is the fee it charges for the transactions, as well as the fee I’ll have to pay in order to transfer the bits to my own private wallet. (Because it’s not advisable to keep Bitcoins permanently on any exchange for long!) We’ve done a detailed chunk on the fifteen Best Bitcoin Wallets.

Compare what’s the global price-index for Bitcoins, you can do it lightly by simply Goggling “1BTC=$” (Or your currency!) and then compare what price the platform you’re on is suggesting.

It’s best to compare Five+ platforms before zeroing in on any single one of them, because there’s considerable price difference inbetween most of them.

Once you find the lowest-priced platform, wait! Your hunt isn’t over yet. As I said, just the “price” isn’t what makes any platform the best place to buy Bitcoins, so let’s dig in to the other aspects.

Two). Buying Boundaries

Each platform has its own boundaries, and if it’s not adequate and doesn’t suit your buying packets, it’s no use to you. Also it’s an enormously dynamic factor, meaning a suitable buying amount for you might be too expensive, or too low for another person.

Hence there’s no “perfect buying limit” yardstick. Just check out whatever buying limit the platform is suggesting, and if it’s under your requirement brackets, you can proceed to verifying other aspects.

Trio). Privacy

The primary reason why Bitcoins are on the edge of overtaking traditional currency is their capability to be “anonymous”. Hence I do not need to re-elaborate how significant a role “privacy” plays during Bitcoin transactions.

Check what kind of data or verification your Bitcoin buying platforms requires off you. Albeit most platforms require some kind of identity verification, others simply require a real-life photo of yours. (And our #1 platform on this list doesn’t require anything at all!)

So again just compare the platforms and analyze for yourselves which platforms are asking for least identification and weigh in the other factors related to that platform before proceeding.

Four). Mode of Payment

One of the primary factors when it comes to purchasing Bitcoins online is what mode of payment the platforms support. Do they permit buying Bitcoins with Paypal or/and buying Bitcoins with Debit Card / Credit Card?

This also affects the fee structure, there might occur a fee difference based on which payment method you’re going with. Generally Paypal is the cheapest, Credit cards have a slightly higher fee, and the same goes for cash transactions.

So select the platforms which support the payment method you’re comfy with.

Five). Delivery Speed

How long does it take for the Bitcoins to arrive in your exchange wallet is another decisive factor you should consider when attempting to choose the best place to buy Bitcoins.

The speed might be influenced by your country , mode of payment and certain other factors, so make sure you dig deep enough and get a clear picture of exactly how long the coins would take before arriving in your wallet.

So that’s pretty much it. Once you’ve pondered over the above factors you can determine which platform suits your needs the best.

And to make the hunt lighter for you, I’ve compiled a list of some of the best place to buy Bitcoins over here. I’ll be making the above factors translucent for the mentioned platforms, and then you can simply match the one which seems the most suitable to you.

Top five Best Place to Buy Bitcoins

Let’s select any available bitcoins market store, where you can buy bitcoins with your local currency, credit cards, Debit cards, PayPal and etc.

Two). Cex.IO

Talking about the best place to buy Bitcoins and not looping in Cex.io just can’t happen. Being one of the oldest Bitcoin exchange platforms in the industry, it has built up fairly the reputation for itself.

a). Privacy

As already stated, most Bitcoin exchanges require some kind of verification these days in order to prevent money –laundering and fraud transactions.

So ultimate privacy is somewhat of a infrequent delicacy. But as its universal, there’s no one single platform you can blame or count this as a “negative factor”.

Cex.io too requires identity verification via a national Identity card as well as they might ask for a picture of the credit/debit card which you use for your transactions.

b). Fee

There are two kind of fee and you need to pay just one of them based on the type of purchase you’ve made.

Cex.io has a pre-embedded fee of 7% which you need to pay if you buy Bitcoins directly from the Cex.io official treasury. That 7% fee is the only fee required when buying Bitcoins from Cex.io

While if you’re trading and buying Bitcoins from other traders, you’re charged Trio.5%+0.25% if you deposit the trading amount via a VISA card.

Albeit bank transfers, as you can see are free while Bank-withdrawals are charged at $50/transaction.

And if you’re the “Taker” of the trade there’s an extra 0.2% fee you need to pay Cex.io for making the trade happen.

Bottomline, the fee is acceptable considering the professionalism and ease of buying Bitcoins you get with Cex.io and hence it has earned its place as one of the best place to buy Bitcoins.

c). Mode of Payment

If “ payment method ” was the only factor I had to consider, I’d undoubtedly place Cex.Io right next to LocalBitcoins.

It supports a wide-range of payment methods, including the most common ones used in daily lives:-

  • Bank Transfer
  • Credit Card
  • Debit Card
  • SEPA
  • As well as Crypto Capital for some currencies.

d). Speed

The Bitcoins arrive instantly in your Cex.io account. The same can be said for when you transfer them to a personalized wallet. Obviously all the platforms on this list suggest instant deliverability or else they wouldn’t be on this list on “ best place to buy Bitcoins .”

e). Buying Boundaries

The buying thresholds on Cex.io are influenced by your “ verification level ”. The better verified your profile is, the more coins you can spend or buy.

There are four verification levels, and boundaries associated with them are:-

  • Basic – Daily limit $500, monthly $2000.
  • Verified – Daily limit $Ten,000 monthly $Ten,0000
  • Verified Plus – Unlimited
  • Verified Corporate – Unlimited

The “Withdrawal” boundaries are the same as deposit thresholds on Cex.io

If you’re a bulk buyer, in that case unrestricted buying thresholds are exactly what you need. And it’s one of the reasons which wooed me of Cex.io clearly being one of the best place to buy Bitcoins.

1). Local Bitcoins

If you’ve gone through any of our other Bitcoin buying guides, you must have noticed Local Bitcoins topping the chart almost everytime.

And that’s not because I’ve some kind of private feelings towards the platform, it’s simply for the fact that they are one of the most trusted platforms to buy Bitcoins from, suggesting the most diverse payment methods, which includes almost every payment method known to man, including Cash, NEFT, Paypal, Paytm, Western Union and what not and requiring zero verification!

a). Privacy

I’ll just go out and say it, LocalBitcoins doesn’t need any kind of verification compulsorily. It’s a platform where you trade with real-humans from around the globe so even if some traders require some verification, most don’t!

I’ve personally had over one hundred trades with zero identification, not even a photo was required and that’s the kind of ultimate privacy which made me list Local Bitcoins at the #1 position for this list on the best place to buy Bitcoins.

A Signup is required, which isn’t tracked by the actual Bitcoin Seller, it’s just to manage your funds so that’s acceptable.

b). Speed

Bitcoins arrive instantly to your wallet once they’re released by the seller. And if you transfer them to your own individual Bitcoin wallet, even then they take a maximum of thirty minutes to arrive.

c). Mode of Payment

Again something which justifies LocalBitcoins being listed at the very top of this list. LocalBitcoins permits you to search for the payment methods you’re comfy with.

And the best part is, it’s the only platform on this entire list which supports “every payment method” that exists on the planet! And not just “payment method”, but it also supports 99% of the global countries so doesn’t matter which part of the world you live in, you can buy Bitcoins from LocalBitcoins.

d). Fee

The fee on LocalBitcoins is divided in two sections. Very first there’s the fee (profit) which the trader /seller charges, so you might find that the prices are slightly higher for coins over at LocalBitcoins because most traders seek to make a profit out of it. Albeit unless you’re buying 1BTC+, the fee doesn’t truly effect you (because the overall % is much lower on lower amounts of BTC!)

And then in case you wish to transfer your Bitcoins to a more secure wallet, Local Bitcoins charges a slight fee based on network blockchain usage. It’s dynamic but it’s not the “lowest fee” on this list that’s for sure.

But considering all the other services and facilities LocalBitcoins offers, I’m more than glad to spend duo extra bits.

e). Buying Boundaries

The buying limit too is extraordinaire and a reason why LocalBitcoins is on top of this list. The thresholds are set by the “sellers” who are selling the coins.

So you can buy anything from 0.00001BTC to 100BTC+ depending on the seller’s and your trust level. (Trust-level is built based on your previous trades, verification-level etc!)

Three). CoinMama

CoinMama is another well-known name in the Bitcoin exchange market. Their primary selling point is the fact that they permit buying/selling Bitcoins via “Credit/Debit” cards.

a). Privacy

As far as privacy goes, CoinMama is slightly better than most other platforms on this list, but not as good as LocalBitcoins. It requires you to verify your identity by packing in a form, and your cell phone numbers as well.

And it require some kind of National identification, or a driver’s license as well. So it’s not big on Privacy, but unless you’re sending money off to Al-Qaida, there isn’t a lot for you to worry about.

Also because CoinMama has publicly assured “privacy” by stating that all your private data stays on an ultra-secure, dedicated server so it isn’t for anyone to just get their arms on.

b). Fee

CoinMama includes a 6.75% fee with the Bitcoin prices it shows you when you come in the amount of Bitcoins you wish to buy. Meaning the price is pre-included with the fee.

And then there’s an extra 5% fee which is charged by “Simplex” (CoinMama’s payment processor). So in total it adds up to 11.75% fee which is higher than some of the platforms in this list.

But it charges that for its “credit card” services, and as you know the question of “How to buy Bitcoins with Credit Card” has been a leading problem in the industry for fairly some time now so that’s a convenience fee for Coinmama.

c). Mode of Payment

Coinmama supports three primary methods of payment:-

And considering those three also are the most commonly used methods of payment for any individual on the planet, I’d say this undoubtedly is one of the best place to buy Bitcoins from.

d). Speed

Coins arrive instantly on during business hours to your CoinMama account, from where they again can be transferred to any other Wallet of your choice without a second’s delay.

Albeit on non-business hours there’s a delay possibility ranging from duo minutes to duo hours.

e). Buying Boundaries

You can buy upto $Five,000/day and $20,000/month which is a pretty decent limit if you ask me.

It’s a good choice if you can overlook the slightly higher fee rates and the verification procedure.

Four). CoinBase

I don’t think CoinBase needs an introduction if you’ve been in touch with the Bitcoin market lately. It’s one of the most popular names that pops up every now and then and is clearly a ideal platform to land on while digging for the best place to buy Bitcoins.

a). Privacy

It has a user-base of over 6.8 MILLION! Obviously if they’re managing a client-base as big as that, they ought to be precautious as well as careful. So yes you do need to verify your identity as well as credit/debit card ownership.

A photo ID of yours works for the former, while for the latter they make two puny charges to your card which you can verify in order to verify the cards.

b). Fee

It charges a fee of $Trio.99 on most transactions, albeit a slight variation might occur depending on your country of residence. It’s one of the lowest fee any Bitcoin exchange is suggesting presently.

c). Mode of Payment

They support a number of payment methods, including:-

The above payment methods are for US and European customers only. For UK customers, they earlier supported GBP wire transfers which was recently revoked. So the only payment methods for you if you’re in the UK are via:-

d). Buying Boundaries

The boundaries are influenced by various factors, including:-

  • Age of account.
  • Trade-volume.
  • Levels of identity verification
    • o Just identity verification.
    • o Bank verification.
    • o Credit/Debit card verification.

But on a general note, it permits buys up to $500/week. (It will certainly vary according to your account, it’s just to give you a general/average idea!)

e). Speed

Unnecessary to say, if CoinBase is on this list of best place to buy Bitcoins, obviously it offers instant deliverability on the buys.

Five). Virwox

I was acquainted with Virwox on the grounds that it helped me buy Bitcoins with Paypal. Back in those days there weren’t any exchanges which permitted a direct transaction of Paypal for BTC, and Virwox gave me away around it and I’ve been with it ever since.

a). Privacy

This is the best part about Virwox and the primary reason why it’s here on this list as one of the best place to buy Bitcoins from. It doesn’t have any AML or KYC check going on. Meaning there’s no verification they’d require off you.

You just need to Signup which you can obviously do from an E-mail which doesn’t have your name or address on it. Apart from the E-mail there isn’t any other kind of “Verification” required.

b). Fee

I’ll admit the fee structure from Virwox isn’t very pocket-friendly. That’s for several reasons, like they attempting to cover their losses (as they practice a lot of fraud activities), and also because buying Bitcoins using Paypal from Virwox is a multi-step process, you very first need to buy SLL and then convert it to BTC (Here’s the Step by Step guide).

Each step has a fee of its own, hence you pay for “two” transactions instead of one (Paypal > SLL and then SLL> BTC). But if its stringently “Paypal” you’re looking for as the mode of payment, I’d say Virwox is one of the best place to buy Bitcoins.

It charges a immovable fee of 0.49USD + Three.5% fee on all “Credit/Debit Card’ transactions. It varies slightly with other currencies but the difference is negligible. Also if you’re exchanging SLL for BTC, in that case the fee is 50SLL + Three.90% of the transaction.

And then there’s the withdrawal fee of 0.01BTC /Withdrawal.

c). Mode of Payment

It’s truly big on the mode of payments it accepts. Apart from Paypal, other payment methods include:-

d). Buying Boundaries

The buying thresholds on Virwox are based on your “Verification level”, and as they do not require any kind of “identification” for verification, it’s instead determined based on your account’s age and trade-volume.

  • Fresh Accounts:- 90EUR /24 hours and two hundred seventy EUR/30 days.
  • Ten days old account:- 120EUR /day and 900EUR/month.
  • 45 days old account:- two hundred EUR /day and two thousand EUR/month.
  • 90 days old account:- 400/day and 4000EUR/month.

There’s an extra level four which can be activated after completing level three (90 days) and it permits 1,000EUR transaction/day and Ten,000/month!

e). Speed

Virwox has been in the business for over a decade now, making them a contender as one of the best place to buy Bitcoins, so obviously there can’t be any deliverability issues.

Most transactions with Credit/Debit cards, Paypal and other methods are instant, while bank transfers might take duo days.

Final Verdict: Which is the best place to buy Bitcoins from?

So the final question hits up, which Bitcoin exchange is the best?

To be fair, there isn’t any one “Best” exchange as such. It all depends on where you are, how much currency you wish to trade, how supple you’re on the privacy and verification procedure and so on.

I personally mostly use LocalBitcoins and Cex.io but they may or may not be the best place to buy Bitcoins from for you depending on your private preferences.

So I’d just say all the platforms on this list are worth it, you can simply pick one or the other and make duo trades with them. After some time you’ll figure out for yourselves the platform which is in most sync with your requirements and then you can stick to it.

Related video:

Leave a Reply