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9 Ways to Buy Bitcoins for USD. All Methods of Purchase in the USA

We explain where to buy cryptocurrency for fiat money quickly and inexpensively. Read the article for more detail and examples.

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Cryptoassetsrank.com Published on Aug 03, 2018
'9 Ways to Buy Bitcoins for USD.  All Methods of Purchase in the USA' article image

We explain where to buy cryptocurrency for fiat money quickly and inexpensively. Read the article for more detail and examples.

Online exchange sites

At the online exchange sites you can buy bitcoins for dollars without registration and verification. You can select an exchange site with the best conditions at Bestchange.com or in the list of partners of payment services Advcash, Perfect Money and Epay.


Buy
Some
Bitcoins
Btc
Bit
PayBis
Alfa
Cashier
Inda
Coin
Smart-Pays
Minimum amount, USD
No
50
100
57
No
50
Cash
No
Yes
No
No
No
Yes
Visa/ Master Card
Yes
Yes
Yes
Yes
Yes
Yes
Currency
USD, EUR
USD, EUR
USD, EUR
USD, EUR
USD, EUR
USD, EUR


Advantages:

  • 50+ payment services;
  • speed of purchase — 5–10 minutes;
  • VPN can be used;
  • no verification;
  • simple interface.

Disadvantages:

  • weak protection from DDOS attacks, hacking, theft of personal data;
  • a lot of phishing websites;
  • the rate is 1–5% higher than the market rate;
  • fees — 5–10%.

Cryptocurrency exchanges

These are cryptocurrency trading sites, at which you can buy bitcoins with credit or debit card, a wire transfer and digital payment services. There are high safety standards and average market prices at the cryptocurrency exchanges, that is why they are popular among investors. 

7 largest cryptocurrency exchanges


24h Volume
Fee
Fiat money
Verification
Currency pairs
Bitfinex
$1,126,631,307
0.1–0.2%
Yes
Yes
143
Binance
$935,252,898

0.20%
Yes
No
240
Huobi
$328,197,292
0.2%
Yes
Yes
146
HitBTC
$232,910,976
0.01–0.1
Yes
Yes
317
Coinbase GDAX
$208,796,212
0.1–0.25%
Yes
Yes
12
Bitstamp
$148,147,833
0.1–0.25%
Yes
Yes
11
Quoine
$125,981,208
0–0.25%
Yes
Yes
27


The fee in the table refers to cryptocurrency and token sale/purchase operations. The fee for depositing/withdrawing fiat money at such sites depends on individual agreements with payment services. There can be a lot of them — over 50. The most popular payment services in the USA are Visa/MasterCard, PayPall, Advcash, Perfect Money, Payoneer and Epay.

Advantages:

  • safer than other methods;
  • fee for depositing/withdrawing fiat money — 2–5%;
  • use blockchain for personal data protection;
  • VPN can be used.

Disadvantages:

  • registration is required;
  • complex interface;
  • verification is required;
  • fee — 5–10%.

Person to Person sites

These websites bring together private buyers and sellers of bitcoins, providing them with a platform for negotiating deals. When someone wants to buy or sell bitcoins, he or she creates an order at the site and waits for a counterparty. If you buy or sell cryptocurrency with credit card, the deal is done at the P2P site. If cash is used, the parties arrange a face-to-face meeting.


Local
Bitcoins
Bit
quick
Paxful Xcoins Cointal Bitkan
Entry currency Any fiat money
USD,
EUR
Any fiat money
USD
USD
USD,
EUR
Min. deposit None
None
$1
$10
$10
$1
Purchase method Any
Cards, bank payments, cash
Any
Any
Cards, bank payments
Cards, bank payments, cash


Advantages

  • fee — 0.2–1%;
  • negotiated exchange rate;
  • simple interface;
  • VPN can be used;
  • no verification.

Disadvantages

  • purchase lasts 30–60 minutes;
  • there might be no sellers in the required region;
  • a lot of scammers because it is easy to get a false positive rating at P2P sites.

Digital payment services

Digital money services with counterparts of national currencies also sell bitcoins. The sale can be done by P2P scheme within the payment service or via a third-party partner — an online exchange site, a cryptocurrency exchange.


Purchase currency
Know Your Client

Max. amount for transaction
Fee
Advanced Cash
USD, EUR
$30,000+
No limits
At the system’s rate
Perfect Money
USD, EUR
$30,000+
No limits
At the partner’s rate
Payeer
USD, EUR
$30,000+
No limits
At the system’s rate
Web Money
USD, EUR

No limits
At the system’s rate


Advantages

  • negotiated exchange rate if it is P2P;
  • simple interface;
  • VPN can be used.

Disadvantages

  • fee over 10% if the exchange is via a partner;
  • few bitcoin sellers in case of exchange via P2P;
  • KYC is required.

Direct transactions

You can find people who want to sell bitcoins without intermediaries at cryptocurrency forums and websites. In this case people negotiate a deal at the forum and agree to meet offline. It is the riskiest approach to purchasing bitcoin with cash but at the same time it is the most profitable method, since without intermediaries there are no fees.

Advantages

  • no fees;
  • negotiated exchange rate;
  • no verification.

Disadvantages

  • the purchase takes a lot of time;
  • there might be no sellers in the required region;
  • a lot of scammers, you can be robbed.

ATMs

ATMs are located at trade centres and public transport stations. The installation of ATMs is monitored by the state, that is why this method is one of the safest. 

Advantages

  • high safety level;
  • purchase takes 3–5 minutes;
  • no verification;
  • easy-to-use interface.

Disadvantages

  • fee — 10% and more;
  • you can withdraw only up to $1,000 without verification;
  • only 2,500 ATMs around the world.

In the USA there are several companies that install such terminals: Robocoin, Genesis1, Lamassu, BTC-O-MATIC, Coinplug, BitTeller, Diamond Circle. In order to find an ATM, enter the terminal name on GoogleMaps or type a request “buy bitcoins in ATM”.

Crypto ATMs

Gift cards

These are beautifully wrapped cards or digital cards, within which there is an address of and password to a bitcoin wallet with a small amount of coins. They are worth buying only from a manufacturer because an intermediary can use a card and then put it up for sale again.

Advantages

  • no verification;
  • it is a usual purchase of a gift card.

Disadvantages

  • it is suitable only for small amounts;
  • there is a risk of buying a card with an empty wallet.

In the USA gift cards with bitcoins are produced by Gyft, Fold App, Purse.io, Cryfter, eGifter, InstaGift, YesToBitcoins and Amazon. You can buy them in trade centres or at the Amazon website.

«Physical» bitcoins

These are souvenir plastic or metal coins, within which there is a hologram with a bitcoin wallet address and password. The first such coin was issued by Casascius Bitcoin Mint in 2011. At first, the nominal value was 1 BTC for brass coins and 25 BTC for talmi-gold coins. Later, the company also started to issue gilded “ingots” with the nominal value of 100, 200, 500 and 1,000 BTC.

“Physical” bitcoins

In 2013 the US government closed down this company because such activity falls under the definition of “illegal money transfers” and “unlicensed financial services”. However, three years later a Japanese company picked up the idea and began to issue “physical” bitcoins. 


Nominal value
Issued in 2018
Material
Titan Bitcoin
1 BTC
Yes
Silver, gold
Casascius
1, 10, 25, 100, 1,000 BTC
No
Brass, aluminium, silver
Lealana coins
As desired, 1 BTC
Yes
Vermeil
Antana
As desired
Yes
Zink, pure gold
Satori Coin
0.001 BTC
Yes
Plastic
Denarium
0.001–1 BTC
Yes
Talmi gold, silver, gold
Cryptmint
As desired
No
Copper, 999 fine silver


Advantages

  • no verification;
  • it is a usual purchase of a gift coin.

Disadvantages

  • you can buy a coin with an empty wallet.

Internet banking

In 2017 the banks also started to sell cryptocurrency. In order to buy bitcoins using this method, you should first create a cryptocurrency wallet and then top it up via Internet banking. If a bank offers to buy cryptocurrency without wallet registration, it is investment in a cryptocurrency fund.

Advantages

  • a warranty from the bank;
  • an easy-to-use Internet banking interface.

Disadvantages

  • fee — 7% and more;
  • verification is required.

Telegram bots

These are accounts managed not by a person but by the software. They inform about events, send out the news, bring cryptocurrency buyers and sellers together. To use such a bot, you should connect to it, select a counterparty and make a deal like at a P2P site. 

Advantages

  • negotiated exchange rate;
  • no fees;
  • simple interface;
  • no verification;
  • VPN can be used.

Disadvantages

  • a lot of scammers because there is no punishment for cheating a counterparty;
  • a lot of time is required in order to discuss all the details with the seller;
  • there might be no sellers in the required region.

The most popular Telegram bots are Bitcoin bot, Btc_change_bot, CryptoBitBot, BlokchainBot, CallCoin.

Important to remember

Bitcoin is worth buying only for an international money transfer or exchange into another cryptocurrency because it has lost its attraction as an investment. We advise you to pay attention to ICOs — blockchain startups at the stage of initial coin offering that deliver up to 13,000% profit. In 2017 bitcoin delivered 1,600% profit.

The best and worst ICOs in 2017

in this article
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