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Payment methods in Bitcoin trading

  The PayPal payment system was also recently added by Coinbase as an option to purchase bitcoins.

 

Payment methods In Bitcoin trading, exchanges accept a variety of payment options, and although you must be wary of fraud sites Coinbase allows for both bank account and credit or debit card transfers for payments.

 

Also, one payment instrument must be linked to your account before you can make a deal.

 


Buy Bitcoin

 

Some ATMs now allow you to exchange bitcoins in compatible wallets for cash.

 

But these ATMs are available in a limited number of cities and provide an alternative to withdrawing money using the exchange. Once again, most online exchanges and wallets will not directly deal with cash for bitcoin.

 

Important note: Bitcoin transfers can be a bit choppy. Unlike other currency trades, when buying bitcoin, the transaction must be recorded and confirmed on the blockchain.

 

 

The aforementioned conversion process can also take a while, especially during busy trading hours.

 

It is not uncommon for the trading process to take an hour or two to complete and start moving the funds.

 

Bitcoin trading

Using Coinbase, as a recommended site for buying and exchanging bitcoins, it is easy to verify its reliability in the competition compared to other Bitcoin exchange and buy sites.

 

Signing up for a Coinbase account is easy and free, although you'll need to provide some forms of identification.

 

This may include sending a copy of your personal identification picture and possibly sending a live picture of your face via the webcam.

 

Although Coinbase alone will allow you to buy and sell bitcoin, it is also worth signing up for the associated exchange platform Coinbase Pro, which will give you greater control over your purchases.

 

If you prefer a more direct way of buying Bitcoin, you can choose to use a one-to-one service such as LocalBitcoin or BitQuick.

 

It provides a more comprehensive set of payment options and allows you to buy bitcoin directly from the seller without an exchange broker.

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