Crypto coins such as bitcoin have more benefits as compared to fiat currencies. Crypto coins are decentralized, meaning the government does not control the currency. Cryptocurrency transactions are also cheaper and faster.
Can you convert cash to bitcoin? Yes, you can. If you’re wondering how to convert money to bitcoin, don’t worry. In this guide, we will tackle issues involving crypto exchange. We will share tips and platforms that you can use to buy or trade fiat currency for bitcoin or any crypto coin of your choice.
How to Convert Money to Bitcoin: Exchange Accounts
Exchange accounts are the safest and most efficient way to exchange bitcoin for real money. The best exchange websites such as Nakitcoins have an interactive and easy-to-use user interface. If you’ve never used an exchange platform before, you will need to sign up for one.
You will require an email address and password. After signup, some platforms may require you to pass a verification test. However, in others, you may only be required to upload proof of identification when completing transactions. For money to bitcoin exchange, you will first need to load your account with fiat currency.
Some exchange platforms may allow you to purchase bitcoin using your debit or credit card. However, the website may charge you a small percentage to cover the transaction fees. If you’re looking for an exchange website, NakitCoins converts money to bitcoin. It is also easy to use and supports the use of credit and debit cards. Always remember that you may incur extra fees for currency conversion if you’re not using a USD bank account.
P2P platforms have been around for some time. They work in an almost similar way to exchange accounts. However, when using a P2P account to convert money to bitcoin, you don’t need to verify yourself. Thus, one main advantage seasoned bitcoin traders like using P2P websites is anonymity.
The P2P platform is a website where buyers and sellers can meet. The platform allows buyers to scan through sellers with the best prices. When using a P2P platform to exchange bitcoin for real money, ensure you look at the seller’s rating and the number of complete transactions.
Also worth noting, make sure that you have a private e-wallet. An e-wallet is an online crypto wallet where you can securely store your cryptocurrency. Some exchange accounts do offer this service. So, if you’re going to use a P2P platform, make sure you have an e-wallet where the seller can send your bitcoins or any other altcoins.
Bitcoin ATMs are slowly becoming a norm in most cities and towns. They offer you the most straightforward means for money to bitcoin exchange. You can always use the bitcoin ATM locator feature to find an ATM near your residence.
The ATMs work in an almost similar manner to regular ATMs. All you need to do is feed the machine with a fiat currency and it will send the exact amount in the form of bitcoin to your private crypto wallet.