Bitcoin the amazing online digital currency has risen from death for the ’99th time’ year to date. Back in 2018, the total cryptocurrency space was in a tiring bear market and investors were selling rather than buying.
This lack of interest by investors and the media has totally changed in 2020. Although new ATH s haven’t been reached and we are still far from there(-61%) sentiment towards the cryptocurrency market has totally changed.
Bitcoin volatility and ROI
Bitcoin is famous for its price swings and massive volatility and that’s the main reason investors all over the world can’t ignore this ‘online money beast’. Just picture this: In 2019, Bitcoin started the year at 3737 US dollars and is currently priced at 7800 US dollars (June 2019). That means that the price of Bitcoin has already increased by 104% since the beginning of 2019! Can you imagine if you made a 1000 US dollar investment in Bitcoin at the start of 2019, it would be worth 2040 US dollars nowadays(June 2019).
How to get Bitcoin Instantly
Although Bitcoin has been around for almost a decade now its still very hard for normal people to acquire some Bitcoins. Especially if you aren’t a trader and therefore not familiar with order books and trading Bitcoin on a cryptocurrency exchange. So is it possible to get Bitcoin instantly without the need to sign up for an exchange first? Of course, there is! In this article, I’m going to give you five useful tips on how to get Bitcoin instantly, fast and without the need for trusting a centralized cryptocurrency exchange.
Useful Tips 1: Paxful
Paxful is a so-called peer-to-peer marketplace where it is possible to buy Bitcoin instantly. Peer-to-peer marketplace comes from the online sharing industry which AirBnb, Spotify or Fiverr are good examples. The idea is to cut out the middleman(expensive fees) and let people connect to each other in a direct way. Paxful allows a peer-to-peer financing platform where people can buy or sell digital currencies like Bitcoin instantly.
Paxful’s mission is to give people a simple, fair, and secure platform for trading bitcoin. They aim to bring financial inclusion to the underbanked and unbanked through peer-to-peer finance. Every user gets a free digital wallet that lets them send, receive, and store bitcoin. They’re cutting out the middleman with their secure escrow service and provide help to their users with 24/7 customer support system.
Paxful services: Buy Bitcoin instantly with gift cards
The Paxful platform can be very helpful if you are a cryptocurrency fan but don’t have much money left to invest. Moreover, if you are a smart trader you are able to acquire bitcoin for free! That being said, one of the main benefits the platform offers is a way to buy Bitcoin instantly with gift cards. Nowadays gift cards can be acquired very easy and Paxful offers a perfect gateway to acquire cryptocurrency with it! Here’s an example which type of gift cards are accepted:
- iTunes gift card
- Amazon gift card
- Steam wallet gift card
- Google play gift card
Other services Paxful offers
The main service and goal behind this online platform is to buy or sell Bitcoin or any other cryptocurrency instantly. This buying instantly can be done in several ways.
Buy bitcoin by making a transfer from your bank account to a bitcoin vendor on Paxful. Once they receive the funds, bitcoin is sent to you. Works worldwide.
Don’t want to leave the house? You can use a number of popular payment apps. Once the transfer is complete, bitcoin will be sent to your wallet.
Buy bitcoin with cash. No bank account needed. A bitcoin vendor on Paxful will guide you to deposit cash into their account. Once they receive the deposit, bitcoin is sent to you.
Conveniently use your debit or credit card to purchase bitcoin on Paxful instantly.
It’s possible to trade altcoins like Ethereum or Litecoin and get bitcoin transferred directly to your wallet.
Useful Tips 2: Coinswitch
Coinswitch offers the possibility to buy or sell cryptocurrency. Trading Bitcoin or Ethereum is possible without going to exchange first. The idea is that they will get your Bitcoin instantly from the exchanges against the lowest exchange rate. It doesn’t matter where you are located in the world, because their platform offers you to trade from anywhere. Trading crypto can be done in more than 300 different cryptocurrencies and tokens. Like other centralized crypto exchanges out there, data about volumes, market cap & supply is also available on their platform.
When trading on their platform, the ordering process is different compared to traditional exchanges. When setting up a trade three things are very important in the trading process:
- Compare – Compare rates across exchanges and find the best exchange rate.
- Convert – Follow simple steps to exchange your cryptocurrency.
- Track – It’s very easy to track orders when an order is set up.
One big pro of Coinswitch is that people can purchase Bitcoin or Ethereum with a credit/debit card. Not only Bitcoin or Ethereum but they offer 100+ tokens which can be bought this way. They support USD(US Dollar), JPY(Japanese Yen), RUB(Russian Ruble) and EURO to purchase cryptocurrencies.
Coinswitch offers a fee for every transaction or converts you try to make. This depends on the exchange you choose for buying.
Note: This fee does not include any amount charged by the exchange itself and the network fee.
It’s very good to know that you don’t store any crypto on their exchange when trying to buy it. You just give the public key of your wallet address and after transaction completion, the funds will directly be transferred to your wallet.
Useful Tips 3: Coinmama
Coinmama offers the possibility to buy or sell Bitcoin instantly. Trading Bitcoin or Ethereum is possible without signing-up at a centralized exchange first. They are a known player in the crypto space and have been there since 2013. To buy or sell crypto, you can do it from within their platform and they choose the exchanges with the lowest exchange rate. It doesn’t matter where you are located in the world, because their platform offers you to trade from anywhere.
Coinmama: Ways to buy Bitcoin instantly
If you don’t have a credit card but want to buy crypto, there is the possibility to buy it with a debit card. Currently, Coinmama accepts payments with Visa and Mastercard. Other payment options like Paypal, American Express or Discover aren’t accepted yet.
I think it’s important to know that when buying with credit or debit card, you have to pay a small fee due to the commission by VISA or Mastercard. The Bitcoins you are trying to purchase will be sent to you in a few minutes once your account is verified. Coinmama offers industry-leading purchase limits.
If you are living in the European Union or Great Brittan then there is another option for you available. It’s also possible to buy Crypto with a SEPA bank transfer. Currently, there is a limit of about 12000 USD per day but with no extra fees.
Recently Coinmama offered a new option in their service. Now it’s also possible to sell Bitcoin and receive Euro on your bank account. This option is only available when you are a European resident.
In a few steps the way to do this:
- Login to your Coinmama account and select sell
- Choose the amount of Bitcoin you like to sell
- Create order(Enter bank account, IBAN, country)
- Send the coins to the wallet of Coinmama
One thing I think is quite unique in their service is the offer system they have. If you want to buy a bigger amount of Bitcoin(1000$ or 3000$), they come with a discount of 15% which is a limited offer. This is something I haven’t seen before at other platforms. As a matter of fact, Coinmama has been in the game for a long time and is a very trusted party to buy your cryptocurrency quick.
Useful Tips 4: Wirex
Wirex is the next in the useful tips which offer the possibility to buy or sell bitcoin instantly. They are a known player in the crypto space because they were one of the first companies that offered a bitcoin debit card. When I’m traveling the world I’m also using their card to pay with crypto and I think their service is amazing.
To buy or sell bitcoin, you can do it from within their platform or App and they choose the exchanges with the lowest exchange rate. It doesn’t matter where you are located in the world, because their platform offers you to trade from anywhere.
Wirex: Bitcoin & other cryptocurrencies
It’s also possible to exchange your crypto in traditional currencies. Currently, they offer 10 traditional currencies to be exchanged: EURO, USD(US Dollar), GBP(British pound), YPJ(Japanese Jen) and some others.
Buying or selling cryptocurrencies is limited to only 8 at the moment. These are the ones that are ranked top 10 in Coinmarketcap. Bank transfers are allowed by SEPA and their service is offered on a global scale.
Earn crypto while spending
Unique in their service is their ‘Cryptoback’ program. This service is one of my favorites because it gives you the ability to earn crypto while you buying something with crypto. Every transaction you make gives you 0.5% back in BTC. This can only be done when you are in the possession of a Wirex card and do an in-store purchase. The rewards are paid instantly and in Satoshis, the smallest unit of Bitcoin.
When you are a business and have plans with Crypto, Wirex could also be an option for you. Business accounts can use the service of paying/receiving Crypto. The exchange between fiat and Crypto is possible(and any combination therein) at Interbank and OTC rates. For registered businesses, there is no transaction limit. With this service, businesses can do banking on a global scale without limitations of the traditional bank account.
Useful Tips 5: Changelly
Changelly is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy Bitcoin, Ethereum, Bitcoin Cash instantly for fiat. The service mechanism searches for the best crypto-to-crypto rates and supports over 130 cryptocurrencies available for exchanging one to another.
Changelly offers a trusted service to almost 2 Million users worldwide and without revealing user identities. They offer good security service and after you have set up an account at their platform you have to enable 2FA(2 step verification). I think this is a good thing and makes them trustworthy.
Fixed rates are not offered on their platform, this is because of the volatile nature of cryptocurrency. Instead, rates are tied to the latest transactions and the lowest at that time of date. A commission fee is charged at a rate of 0,5% for crypto-to-crypto swaps.
For bank transfers, they have a partnership with Simplex and Indacoin. Simplex offers services for direct payment with ETH, BTC, and BCH. When buying crypto this way you don’t need the double conversion which is very usual at other crypto exchanges.
Changelly: Limitations for buying with fiat
Like I explained earlier, fiat transactions are handled by their partners Simplex and Indacoin. They both have some rules and regulations you should know:
- USA, Canada, and Australia
50$ limit for the first transaction made. After that, the next purchase can be done in 4 days and has a limit of 100$. After 7 days the limit will be raised to 500$. In one month there are no limits.
- CIS region(Russia/Ukraine/Belarus)
The first transaction has a limit of 200$. For the first week, the limit is set to 2000$ and for the entire month 10000$.
- EU and other countries
Like USA, Canada, and Australia. The first week has a limit of 6 payments.
- First transaction has a minimum of 50$ and a maximum of 10000$
- Daily limit is set to 20000$
- Monthly limit is set to 50000$
Nowadays the options for buying Bitcoin online are a bit overwhelming. Also, the state of the markets is still in its infancy and not all online trading platforms can guarantee if your funds will be safe there.
To avoid being scammed or hacked when buying Bitcoin online, I have given you some useful tips to get Bitcoin instantly. If you have ideas or want to let me know another platform, don’t be shy and leave a comment below this article. Be safe and be profitable!
Disclosure: This post contains affiliate links. This means I may make a small commission if you make a purchase. This doesn’t cost you any more but it does help me to continue publishing cool and actual content about Bitcoin & Crypto – Thank you for your support!
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