How to Choose a Wallet for Cryptocurrencies

how to choose a wallet for cryptocurrencies

The bitcoin – and cryptocurrency overall – market is still at its early stage, and investing in cryptocurrencies must be done with caution. The cornerstone of any investment in cryptocurrency is security, and choosing a right wallet is likely to matter even more than selecting a right cryptocurrency exchange. Our article will provide you with insightful information about how to choose a wallet for cryptocurrencies (and especially bitcoin), as well as tips for securing a wallet with your funds.

Types of Bitcoin Wallets

When it comes to the question how to choose a wallet for cryptocurrencies, one is likely to seek the most secure and easy way of storing bitcoins and other cryptocurrencies. In the case of cryptocurrencies, however, the terms “easy” and “secure” seem to be contradictory – at the present time at least. Therefore, we highly recommend you to stay away from very convenient wallets (such as web or mobile wallets) or hold there the amount of money you can afford to lose. Any larger investments with such wallets are not recommended.

how to choose a bitcoin wallet

Our guide will help you to find out how to choose a wallet for cryptocurrencies in a right way

In order to give you a clue about how to ensure security of your bitcoin wallet, we provide this simple info you should remember: your private wallet keys are the thing that allows transactions with your bitcoins. The better those wallet keys are hidden, the lesser is the chance of your bitcoins (or another cryptocurrency) to be stolen. The descriptions of the most widespread wallets, published below, will help you to get to know how to choose a wallet for cryptocurrencies in a right way.

Mobile Wallets

The name of this type of wallets is quite self-explanatory, as these are the wallets you can store on your mobile phone. There are several reasons that may prompt beginners to fall for such a type of wallets. First of all, any beginner can grasp how to use such wallets within a couple of minutes. Secondly, an ability to scan QR codes allow you to send your bitcoins within seconds. Such a convenience allows users to hold small amounts of bitcoins/cryptocurrencies in this kind of wallets, which enables them to send a portion of their funds quickly when it’s needed.

However, mobile wallets are considered to be among the most dangerous ones. Usually, wallet apps update on their own, without permission of the mobile phone owner. So if anyone hacks and infects a certain wallet app and reuploads it Google Play or iTunes, millions of wallets risk to be stolen. So when wondering about how to choose a wallet for cryptocurrencies, don’t fall for simplicity and convenience.

At the present time, these are the most popular mobile wallet apps:

  • Mycelium Bitcoin Wallet. One of the best wallet apps that allows an integration with cold storage devices.
  • Coinbase. A wallet app developed from the renowned cryptocurrency exchange.
  • Copay. Copay is an ideal app for having more than 1 user with more than 1 private keys, as it provides you with fine flexibility and convenience of using multiple wallets, keys, or users.
  • Airbitz. This app promises to provide the most secure wallet for bitcoins, claiming that neither the company itself nor any third party is able to access your data or personal information.
  • Breadwallet. Even though this app doesn’t have that many features, its user-friendly interface makes it to be a perfect choice for beginners.
  • GreenBits. This app is a mix of many wallets, combining strong privacy and security, multi-signature features, and user-friendly interface.
  • Bitcoin Wallet. This is the first app to hold bitcoins that was developed by Bitcoin, and it features simple interface and design yet has very few features.
  • Bitpay. An app that helps users to accept bitcoins for their enterprises, enabling them to spend bitcoins in dollars.
  • Samourai Wallet. This newly developed app is claimed to feature the strongest privacy and security among all wallet apps in the market.

Web Wallets

Web wallets are the wallets that are provided by exchanges or other services. Typically, all the largest exchanges (check the best places to get bitcoin) provide web wallets. Yet, it means that the private keys of yours are stored on the servers of a particular exchange. Considering that hackers tend to aim large exchanges for their attacks, it doesn’t appear to be surprising that such servers often get hacked. This makes storing your bitcoins in web wallets the least safe option.

Therefore, it is recommended not to hold large amounts of bitcoins or cryptocurrencies in web wallets. Before you decide to store your bitcoins in a web wallet, you must make sure that you trust this service or exchange. Storing small amounts of cryptocurrencies in web wallets allows you to make transactions fairly quickly.

Apart from the exchanges mentioned in the article “Best Places to Get Bitcoin,” the following services provide web wallets as well:

  • The Standard Wallet from Coinbase. Popular among many customers thanks to its location in the United States. Doesn’t charge fees for sending bitcoins between users of the Coinbase standard wallets.
  • The Vault Storage from Coinbase (aimed at advanced users). It is an extremely safe version of the previously mentioned wallet with additional features.
  • GreenAddress. This is just another multi-signature wallet.
  • SpectroCoin. This exchange offers a fairly convenient and user-friendly wallet.
  • info. Based in Luxembourg, this service is popular thanks to the absence of a need of user verification and user-friendly interface.

Desktop Wallets

Desktop wallets appear to be quite safer than web or mobile wallets, and they allow you to store pretty larger volumes of bitcoins or other cryptocurrencies. These wallets are installed right on your laptop or desktop PC. Though, Windows is considered the least safe operating system and it is recommended to install a wallet on a PC with Linux.

A couple of years ago, desktop wallets were considered to be the most secure ones. Not anymore. Yet, they stand as a relatively safe alternative to other types of wallets. Here, you can get desktop wallets:

  • Exodus. This desktop wallet appears to be easy-to-use and features instant exchange between various cryptocurrencies.
  • Electrum. This wallet appears to be the most popular desktop wallet nowadays, which is caused by its simplicity and user-friendly design. Advanced users can also take advantage of such features like cold storage or TOR.
  • Bitcoin Armory. An old-tested desktop wallet, which tends to be very secure but also hard-to-understand for beginners.
  • Bitcoin Core. This desktop wallet is a full node one, which means that it downloads the entire blockchain. Even though it tends to be the most private bitcoin wallet, expertise and a lot of patience are needed for setting it up.

Paper Wallets

If you are seeking the most secure wallets when looking for how to choose a wallet for bitcoins, paper wallets are something that you should consider. There are only two things needed to trust to: the software you are using for creating paper wallets and the location for storing it (such as a safe box at your home). It doesn’t tend to be very comfortable to use it if you carry out many transactions – you need to change a paper wallet every time you make a transaction. Yet, if you are going to save your funds in bitcoins this way, then a paper wallet is likely to be the best option for you.

These websites will help you in generating paper wallets:

Hardware Wallets

Hardware wallets are sophisticated systems of semi-cold bitcoin storage, which means that the bitcoins are stored mostly offline and the internet access is used only when carrying out bitcoin transactions. Even though hardware wallets are extremely safe, they must be purchased by you.

The most popular hardware bitcoin wallets include:

  • Trezor. A pioneer in the world of hardware bitcoin wallets, which can be used with a number of apps, such as Multibit HD, Mycelium, and TREZOR Wallet.
  • Ledger Nano S. This hardware wallet features OLED interface, backup seed recovery, and a flash drive.
  • KeepKey. It is just an alternative to the above mentioned wallets, but it’s much larger in size and twice more expensive.

Multi-Signature Wallets

This is the final type of wallets in our “How to Choose a Wallet for Cryptocurrencies” article. Multi-signature wallets require more than one signature in order to make a transaction, which provides an extra layer of security. It works as the following: in order to carry out a transaction, you need to sign a transaction in the first place, which later must be signed by another person. Neither that person, nor you can make a transaction with only one signature.

Multi-signature wallets can be different:

  • Armory, Bitcoin Core, or Electrum desktop wallets.
  • GreenAddress, Copay, CoinKite, and Blocktrail mobile wallets.
  • Coinbase and Carbon Wallet web wallets.

This table will eventually give you more insight on how to choose a wallet for cryptocurrencies:

Type of walletsConvenienceHow Difficult to UseSafetyPrice
MobileExtremely convenientEasyNot safeFree
WebExtremely convenientEasyNot safeFree
DesktopAverageAverageSafeFree
PaperNot convenientDifficultExtremely safeFree or a small fee
HardwareAverageAverageExtremely safeFrom 70 to 450 USD
Multi-signatureFrom average to not convenientDifficultFrom safe to extremely safeFree

With the help of this table, you are able to gain a better understanding of how to choose a wallet for cryptocurrencies and which type of wallets is more secure.

How to Choose a Wallet for Cryptocurrencies: Hot vs Cold

The terms “hot wallets”and “cold wallets” refer to whether a wallet has the internet connection. Even though it tends to be easier to send money with a hot wallet – i.e. the one that has access to the internet connection – it is much easier for hackers to gain access to your data if they find a vulnerability. Mobile, web, and partly desktop wallets are considered to be hot wallets.

Cold wallets are the ones that store private keys offline, and this type of wallets includes hardware wallets and paper wallets. While some cold wallets allow you to send bitcoins while remaining completely offline, other wallets require to get connected to the devices. It tends to be much more difficult for hackers to gain access to the private keys, stored in cold wallets.

how to create a bitcoin wallet

As you could notice, it doesn’t appear to be easy to find out how to choose a wallet for cryptocurrencies

There is also a term “warm wallets,” which means that those wallets are basically offline wallets, yet they require connection to the internet in order to carry out transactions.

Recommendations for Keeping Bitcoin Wallets Safe

These recommendations put an end to this “How to Choose a Wallet for Cryptocurrencies” article and they will help you to ensure that your wallets are safe enough:

  • Always have at least several separate wallets.
  • Favor cold storage over hot one, especially when it’s going about large sums.
  • Don’t use public Wi-Fi networks for accessing your account or carrying out transactions.
  • Be aware of phishing scams via the Google Ads and don’t click on the company’s web addresses in the ads.
  • Take advantage of 2-factor authentication.
  • Disable auto updates.
  • Check the address you are sending the funds to at least twice.
  • Make sure you are having an SSL connection, if you are using a web wallet.

Best Places to Get Bitcoin

Best Places to Get Bitcoin

At the present time, there are myriads of places where you can purchase bitcoin or other cryptocurrencies. Such a huge variety of options often lead to the inability to make any choice at all. With the help of this page, you can find out about the best places to get bitcoin more information and details. Considering that all the information is structured and the page contains a table, it will be fairly easy for you to use it.

ExchangeEasy to use for beginnersLocationCurrencyTrustworthinessPayment methodsFees
Coinbase+San Francisco, USUSD, GBP, EUR5/5Bank transfer, credit card, PayPal, WebmoneyAverage
IQ Option+Limassol, CyprusUSD, EUR4/5Bank transfer, credit cardAverage
Kraken-San Francisco, USUSD, GBP, EUR, CAD, JPY4/5Bank transfer, altcoinsLow
Paxful-Delaware, USUSD3/5PayPal, debit card, onevanilla, amazon giftHigh
Bitstamp-LuxembourgUSD, EUR4/5Credit card, bank transferAverage
Cex.io+London, UKUSD, GBP, EUR, RUB4.5/5Credit card, bank transfer, EthereumLow
LocalBitcoins+LocalAll currencies4.5/5Cash, Paypal, Bank TransferAverage
Coinmama+IsraelEUR, USD3/5Card, EthereumHigh
Bitcoin.de-GermanyEUR4/5Bank transferLow
Cryptopia-New Zealand250 crypto pairs4/5CryptocurrencyLow
Bitfinex-Hong KongUSD4/5Bank transfer, Ethereum, Zcash, Dash MoneroLow
Bittrex-Las Vegas, US150 crypto pairs4/5CryptocurrencyLow
Bitso+MexicoMXN3.5/5Bank transfer, cashLow
Shape Shift-Switzerland40 crypto pairs4.5/5CryptocurrencyLow
Gemini-New York, USUSD4/5Bank transferLow
BitBay+Katowice, PolandPLN, EUR, USD3/5Bank transferLow
bitFlyer+Tokyo, JapanJPY4/5Credit card, bank transferAverage

How to Choose Best Places to Get Bitcoin?

Indeed, it appears to be a tough issue when it comes to selecting a good cryptocurrency exchange. Every exchange listed above has certain advantages and drawbacks. The safest bet would be falling for large and already renowned cryptocurrency exchanges like Coinbase or Kraken. Yet, you may overlook pretty promising opportunities you can find on other exchanges. Therefore, we recommend you to carry out a thorough research, based on our article.

best places to buy bitcoin

Which Cryptocurrency Exchanges Are the Largest?

Actually, all cryptocurrency exchanges listed in this article can boast pretty large trading volumes. When it comes to defining the leaders of the market, you can, beyond doubt, name the following exchanges: Coinbase, Kraken, Bitfinex and bitcoin.de. This website shows daily trading volumes of cryptocurrencies and exchanges with the largest volumes.

How to Buy Bitcoin On One of the Listed Exchanges?

Each of the listed exchanges has particular instructions for purchasing bitcoins, whereas they may differ from one exchange to another. Also, our website contains a pdf version of a guide to purchasing bitcoins. After all, you can find a guide to purchasing bitcoins anonymously in the Buy Bitcoin section of our website.

How to Get to Know Which Cryptocurrency Exchange Is the Safest?

This is, perhaps, the most important question when seeking a cryptocurrency exchange, unless you want your money to disappear. Previously, it was considered that bitcoin exchanges were secure by default. But a row of hack attacks of bitcoin wallets along with the bankruptcy of several exchanges (including the notorious Cryptsy) caused doubts regarding that statement. We have provided a list of relatively secure cryptocurrency exchanges and ranked their trustworthiness, but always take it with caution please.

The List of Best Places to Get Bitcoin in 2018

At this point of our guide, we will disclose and shortly describe each of the cryptocurrency exchanges, listed above. That will help you to find out which are the best places to get bitcoin as for you, as well as you will get to know about the advantage and drawbacks of every listed exchange.

Coinbase

When it comes to seeking the best places to get bitcoin, Coinbase is oftentimes mentioned as one of such. Indeed, this service can boast to be user-friendly and very friendly to beginners, as well as there are many long-time traders. At the present time, the exchange has more than 4.5 million users who have registered on it, including over 9,000 developer apps and more than 45,000 merchants. This exchange would be perfectly suitable for Canadian, American and European customers. Though, there is a drawback as well: you need to spend a pretty good deal of your time and efforts in order to verify an account.

IQ Option

Even though IQ Option was massively criticized by ForEx traders, there were very few critical reviews from cryptocurrency traders. Actually, IQ Option is frequently selected over other exchanges thanks to its quality software, location in Europe, and a variety of cryptocurrencies offered for trading. However, the critics still remain skeptical about the trustworthiness of this exchange. The most common trading cryptocurrencies include bitcoin, ethereum, ripple, dash, IOTA, and litecoin.

Kraken

Kraken is frequently mentioned as one of the best places to get bitcoin, as it is characterized by fairly low fees and solid trustworthiness. Apart from being a highly secure broker, Kraken also appears to be among the most convenient exchanges for working with banking transfers – transferring money through SEPA makes it easy and fast to deposit the funds to your account. All in all, the advantages of this platform include very low fees and solid cryptographic communications. Though, the users may sometimes suffer from technical issues. Besides, the exchange is not very friendly towards beginners.

Paxful

The majority of Paxful customers come from the United States, and this exchange is, indeed, perfect for American clients. Actually, Paxful appears to be a peer-to-peer trading platform, connecting buyers and sellers. It can boast to have more than 150 payment methods, including Amazon and iTunes gift cards, cash, NetTeller, Skrill, or PayPal. However, the fees tend to be pretty high.

Bitstamp

Bitstamp, which was originated in Slovenia and later moved to the United Kingdom, finally settled in Luxembourg while seeking fewer regulations. This exchange is perfect for both Europeans and Americans, as it accepts funds from both credit/debit cards and bank transfers in both USD or EUR. The exchange is fairly friendly towards beginners, yet it is not available anywhere beyond the EU and the USA. Even though Bitstamp was known for long as a bitcoin-only exchange, it has started to add popular cryptocurrencies recently.

Cex.io

Cex.io appears to be one of the internationally renowned best places to get bitcoin. User-friendly interface, transparency regarding the final payment sum (the fees are displayed even before you sign up), and a great deal of security make this exchange stand out. This exchange seems to stand as a beginner-friendly alternative to Coinbase.

Local Bitcoins

When it comes to peer-to-peer bitcoin transactions, it is not Paxful but Localbitcoins.com that appears to be the leader of the market. The service is popular thanks to the absence of need to verify identity and popularity in a large number of countries across the globe. Though, there are solid risks connected with carrying out anonymous transactions via this service. The time of transaction completion may be long as well.

Coinmama

This service appears to be popular among those users who come from the countries that are not allowed for trading by major exchanges. Even though this service is quite friendly towards such customers, you are likely to face quite high fees and inability to sell your bitcoins – this exchange allows you only to buy bitcoins from the exchange.

Bitcoin.de

Bitcoin.de has established itself a reputable broker in the European market, as it appears to be a good alternative to Localbitcoins.com. Many critics cite relatively low liquidity, compared with major exchanges. Yet, the security of transactions, the trustworthiness of the exchange, and a user-friendly interface make Bitcoin.de one of the best places to get bitcoin.

Cryptopia

Cryptoria is ranked in this list of the best places to get bitcoin thanks to its focus on providing an excellent user experience to all users. Actually, Cryptopia is not just an exchange, but also a shop that sells a variety of items for cryptocurrencies. Even though the company is based in New Zealand and aimed at the local market in the first place, it does have a global approach.

best places to purchase bitcoin

Bitfinex

Bitfinex, a Hong Kong-based exchange, is known thanks to the large trading volumes. Actually, it appears to be one of the largest bitcoin trading exchanges, though many critics claim that the platform is not safe due to opaque transactions. However, a large number of bitcoins were stolen from Btifinex in 2016. Then, the company came up with a controversial initiative to socialize the losses and spread the loss over all the accounts. And while large volumes may mean lower fees and best liquidity, such novelties have some discouraged many traders.

Bittrex

Bittrex is also one of the largest exchanges, yet barely one of the best places to get bitcoin. The reason for that is that the company doesn’t offer fiat trading pairs at the present time, but solely cryptocurrency pairs. That being said, the exchange is known for very low fees and a good level of security.

Bitso

If you live in a Latin American country, Bitso may be a good alternative to other exchanges for you. The service allows you to deposit your funds in Mexican pesos via credit cards or bank transfers, whereas the latter implies fairly low fees.

Shape Shift

This is just another exchange that offers only cryptocurrency pairs. Actually, the company is dedicated to making the process of cryptocurrency conversion pain-free and easy. This allows the company to handle any cryptocurrency transactions without requesting personal information of customers.

Gemini

Even though the fees at Gemini are quite low thanks to the bank transfer option, the lack of other choice leaves many customers unsatisfied. The exchange primarily serves the American market.

BitBay

This Poland-based exchange can boast a large number of good reviews, offering transactions in USD and EUR as well. Many clients have reported that the exchange is quite reliable and the transaction completion is quite fast.

BitFlyer

The leading Japanese cryptocurrency exchange is one of the largest exchanges in Asia and may be considered as a solid alternative to other services.

Best Payment Methods for Buying Cryptocurrencies

Best Payment Methods for Buying Cryptocurrencies 1

The days when bitcoin was just a cryptocurrency that could only be farmed on a PC are gone or purchased for a trifling portion of money are gone – cryptocurrencies, and especially bitcoin, appear to be a viable investment asset. There are various ways of purchasing bitcoin, all of which have certain pros and cons. Depending on your needs and purposes of your bitcoin purchase, you are able to choose the most suitable payment methods for you. This article will actually help you to make up your mind about what are the best payment methods exactly for you.

payment methods for purchasing bitcoin

Best Payment Methods: Credit/Debit Card

Buying bitcoin with a debit or credit card is the easiest way to invest in cryptocurrencies. Besides, the processing speed of the transaction is fast as well, as the system is able to verify your identity immediately. However, this method works well only when an investor wants to test how cryptocurrency works by investing a relatively small portion of money. Of course, the speediness of the transactions makes purchasing bitcoins via credit/debit cards one of the best payment methods, but also one of the most expansive ones.

The speediness of the process allows the investor to grasp how investing in the cryptocurrencies is carried out, while low anonymity doesn’t harm him. However, purchasing bitcoins with a credit/debit card doesn’t work well when you buy large amounts of cryptocurrencies – astonishing fees is not something wise to start the investments with.

PayPal

Purchasing bitcoins and other cryptocurrencies via PayPal is another easy method of cryptocurrency purchasing. However, the fees the purchaser bears when buying cryptocurrencies with a PayPal account are even higher than if one would buy via a credit or debit card. So if you tend to invest large sums of money in the bitcoin or other cryptocurrencies, it would be better to do it either via a credit/debit card method or even via cheaper methods (see lower).

Another important aspect of buying bitcoins with a PayPal account is the fact that very few exchanges offer such a payment method. There are three solid reasons that prevent the majority of exchanges for offering this payment method to their customers. First of all, PayPal and bitcoin (as well as other cryptocurrencies) are direct rivals, so it appears to be normal that PayPal’s management doesn’t fancy cryptocurrencies. Secondly, a user who has purchased bitcoins or other cryptocurrencies with a PayPal account is able to carry out a chargeback with ease. At third, it may happen that someone may buy bitcoins with a hacked PayPal account. In the end, PayPal will perform a chargeback upon the order of the account’s real owner, while the exchange will be left with nothing.

Even though there are not many exchanges that allow purchasing bitcoins with PayPal, there is a workaround, which, however, results in the noticeably higher fees. In the first place, you can buy Second Life Lindens (SLL) with your PayPal account at the Virtual World Exchange, which will allow you to convert your SLL into bitcoins later. Yet, the transaction fees may amount to or even exceed 6% of the total sum.

Bank Transfer

Bank transfer is a method of payment that is commonly accepted almost on every cryptocurrency exchange – it is accepted on the major ones for sure. This payment method, unlike the two presented above, offers really low fees, but that comes at a cost of the transaction’s speed. You can completely minimize the fees you pay via a bank transfer if you use the Wire transfers in the United States or SEPA transfers in Europe.

If you want to maximize your earnings and avoid high fees while the transaction’s speed does not tend to be a problem for you, purchasing cryptocurrencies via bank transfers is likely to be the best payment method for you. Yet, some exchanges have local limitations on purchasing cryptocurrencies via bank transfers. For example, Coinbase, one of the largest exchanges, offers purchasing bitcoins via bank transfers only to the US residents. Likewise, only UK residents can purchase cryptocurrencies through bank transfers at the Bitcoin Magnet. This is one of the best payment methods for buying cryptocurrencies for anyone who wants to avoid paying high fees.

Payoneer and Skrill

Both Payoneer and Skrill are popular financial services, yet their ways of operating are really too different. Let’s begin with Payoneer. In order to use Payoneer, you should have a pre-paid Payoneer card sent to you by this company. Once you have a pre-paid Payoneer card with funds on it, you are able to buy bitcoins with its help on such major exchanges like BTC-e, Bitstamp, Coinbase, Circle and Kraken.

Considering that it appears to be rather hard to perform a chargeback, the sellers of crypcocurrencies are more eager to sell bitcoin and other cryptos to the holders of Payoneer cards than to PayPal users. The fees tend to be from average to high (depending on the exchange), but actually it’s almost same as paying with a simple credit card. This way, Payoneer, one of the best payment methods for bitcoins, is far friendlier towards cryptocurrencies than PayPal.

how to buy bitcoin

When it comes to purchasing bitcoin via Skrill, it tends to be more difficult, as you don’t hold an actual debit card as in the case of Payoneer. However, you can buy cryptocurrencies via Skrill on several exchanges. One of the most used exchanges for this purpose is BitPanda, where you can buy bitcoins for Skrill EUR. Such a method allows you to bear low fees and do it with ease and fast, though your privacy won’t be protected.

The other way is also acceptable, but rarely used – buying SLL at the VirWoX and converting them into bitcoins. In such a case, however, you will bear high fees and it’s pretty difficult to do. After all, you can find local sellers at the Local Bitcoins who accept Skrill as a method of payment.

Western Union and MoneyGram

Purchasing bitcoins and other cryptocurrencies via MoneyGram and Western Union, the world’s two largest services of money transfers, is also possible – both services can act as an intermediary between the cash and the bitcoin. Besides, both of the services are available on the major bitcoin exchanges. However, the speed of the transaction is average, while the fees tend to be rather high.

Cash Deposits in Bank Branches

One of the simplest ways to buy bitcoins is going to a local bank and depositing your cash into your account in a certain exchange. However, the transaction fees tend to be average or higher than average. Besides, not all exchanges and banks offer this feature, as well as this payment method is available not in every country, so we would recommend to write about this issue to the support of your exchange at first. The majority of such transactions are carried out in the EUR and USD currencies.

Cash via Instant Money Transfers

If you have cash and you want to purchase bitcoins with it, you can also do it via Instant Money Transfers. Some exchanges (like 247exchange.com) cooperate with money transfer networks. In the case of 247exchange.com, this exchange cooperates with MoneyPolo, the money transfer company that can boast to have more than 400,000 agents around the world. Actually, this method is pretty similar (if not the same) as purchasing bitcoins via MoneyGram and Western Union (just these companies appear to be the largest ones).

Purchasing Bitcoins with Case from Local Sellers

After all, many bitcoin and cryptocurrency exchanges offer an opportunity to buy bitcoins with cash from local sellers. However, you must be aware and check the history of the seller’s successful trades. It would be wiser to avoid any deals with suspicious sellers. After all, buying bitcoins with cash from local sellers allows you to protect your privacy, while the transaction fees are low.

Mining

If you are a serious investor with a great deal of funds to invest in and you believe that the market of the cryptocurrencies will keep growing, you may consider cryptocurrency mining as a viable investment alternative. Yet, it requires you to invest a really large sum of money in such an enterprise, and our website will help you to get to know more about the world of cryptocurrencies and how to mine them.

Working

After all, if you are an artist, writer, producer, web developer, or you specialize in any other profession where you can freelance, you are able to sell your work in exchange of cryptocurrencies. There are plenty of pros: no fees and privacy protection tends to be rather high. Yet, you have to deliver a great value and work hard for it. Moreover, fewer and fewer employers are eager to pay with bitcoins as this (and other) cryptocurrency keeps growing.

Which Payment Methods to Choose

At the end, our comparison table allows you to make up your mind regarding which payment method it would be better for you to use for buying bitcoins. It will help you to find out what are the best payment methods for buying cryptocurrencies with ease.

Payment MethodEase of UseSpeedPrivacyFeesMinimum sum to invest
Credit/debit cardEasyVery fastLowHighLow
Bank transferMediumSlowLowLowLow
PayPalMediumFastAverageVery highLow
PayoneerEasyVery fastLowAverageLow
SkrillMediumFastLowVery highLow
MoneyGram and Western UnionMediumAverageAverageAverageLow
Cash depositsMediumAverageGoodAverageLow
Instant Money Transfers (cash)MediumFastGoodAverageLow
Buying from locals (cash)MediumSlowVery goodLowLow
MiningHardVery SlowVery good-Very high
WorkingHardVery SlowGood--

Apart from this article about the best payment methods for purchasing cryptocurrencies, we suggest you to have a look at the reviews of the best cryptocurrency exchanges.