This is a question that come to mind when there is a price surge in Bitcoin. It is also true that the interest of Bitcoin and getting them, spikes when the fiat currency market looks shaky or on the brink of collapse. Ron Paul warned people the other week of a 100% dollar collapse May 28th 2016, so does Vladimir Putin and Russian Officials
The Fastest Way to Buy Bitcoin
So what is the fastest way to get your hands on some bitcoins during such an event? Below you will find detailed information on how to get your hands on some bitcoins and that fast. Keep in mind that a Bitcoin can be divided in to a hundredth of a millionth BTC, a Satoshi, so you don’t have to worry if you just got a small amount to put in.
1. Buy Cryptocurrency Peer-to-Peer or Person to Person
To buy Bitcoin from an individual, you will first need to find a seller. There are many ways to locate a bitcoin or cryptocurrency seller in your area. Mycelium Local Trader is one of them, it’s a decentralized in-person exchange that is built right into the Mycelium Bitcoin Wallet. LocalBitcoins is another site that vastly improves the experience of buy bitcoins locally. Of course you do not have to be close to the person you would like to trade Bitcoin with either. You can always trade peer-to-peer globally using these tools and base your judgment on the review and score system embedded into the sites and applications to verify a trustworthy counterpart.
Thing to be aware of when trading Bitcoin peer-to-peer.
Transact in Public Places
If a transaction is done face to face it is recommended to meet the person in a crowded area like a cafe or similar. Though thousands of face to face transactions are made safely every day, there has been an incidents where bitcoins has been stolen under gunpoint during a transaction.
Be aware of Phishing Sites
It’s important that you verify that the site and/or app you conduct your peer-to-peer over. Some cases of phishing attacks has been made on major peer-to-peer trading sites and applications. A phishing attack is an attempt to acquire sensitive information such as usernames, passwords, and personal details by masquerading as a trustworthy peer-to-peer entity in an electronic communication like email or chat.
2. Buy Bitcoin With ATMs and Kiosks.
Though this of course depends on where you are located buying Bitcoin with the help of an ATM is a quick option as the network of Bitcoin and cryptocurrency ATMs rapidly spreading across the globe. ATMs accept cash, for the most part of it’s local fiat currency. You can find your ATM by using our Bitcoin & Cryptocurrency ATM Map. With the help of the map and directory you can easily find the closest ATM. The ATM listings also provide opening ours, currencies traded, and other ATM specific information. In addition to ATMs, businesses and the community is working hard to bring bitcoin and cryptocurrency purchase available at kiosks, post offices and tobacco shops.
3. Buy Bitcoin With Credit Card
In the past it has been seen as risky business for sellers to offer the option of buying Bitcoin and other Cryptocurrency instantly with credit cards. Recently that has changed and some services are now allowing you to buy cryptocurrency with your credit card. However, that does not mean it is entirely risk free in all markets; if you are from Asia or Africa your funds may be frozen by credit card payment processors for further inspection due to the large amounts of fraud that come from those continents.
You can buy bitcoins from other people using paypal with services like LocalBitcoins.com and Mycelium Local Trader. However, this will cost you a bit more due to paypals dispute and resolution process. You will also need a good track record with the third party service you are using. Sellers simply can’t take the risk of selling bitcoins to any random person and then have the money sent via paypal taken back by the buyer.
5. Buy Bitcoin With Bank Transfer
Though probably the slowest way of them all this solution is offered by most cryptocurrency exchanges today. You can also buy bitcoins from other people when using a service like LocalBitcoins.com or simply agree with the person in front of you and do it manually.
This methods has not been ranked since they would not work with fiat currency. However using either Shapeshift or BIT.AC you can exchange almost any cryptocurrency to Bitcoin within a matter of confirmations (few seconds to minutes depending on what coins being exchanged).