Cryptocurrencies are a collection of binary data that is designed to work as a mode of payment that is transmitted without the necessity of central monetary authority.
And the widely used or known crypto is BITCOIN which is also known as BTC or XBT, having a market cap of US$1.1.49 trillion. And this becomes the reason for its leading investments in the era.
So if you are also willing to invest in crypto and trading with small or big initial investments and had been confused about pros & cons, how & why then you’ve landed it on the right platform.
And if you are an American investor, and finally planning to invest in with a few simple hassle-free steps but securely. So here to acknowledge yourself in Bitcoin investments you must decide a few things priorly and have a good strategy.
So firstly, you need to be confined with the amount you want to invest in bitcoin. And then comes the question of How to Buy Bitcoins in the USA? So let’s begin with a quick guide on how to buy bitcoins.
Well, there are many ways that one can buy bitcoins easily, like using debit/credit cards, Bitcoin ATMs, via online exchange or trading platforms, or even with Cash. But in all the ways you need to be a little cautious with trading fees of US$ cryptocurrency exchanges.
So then if buying Bitcoins via an online exchange you must have an analysis of exchange fees of different platforms and the coins, & interchangeable crypto pairs offered by it.
Interchangeable crypto pairs are when you can change ur coins from BTC to ETH without any further exchange fees. Some of them, like Binance US, offer a minimum of 0.1% exchange fee and 0.075% when using BNB with 64 different cryptocurrencies and 132 pairs.
Another is KuCoin which also has a 0.1% exchange fee and 0.080% when using KCS with a wide variety of 571 different cryptocurrencies and 1106 pairs.
And the most famous platforms widely accessed in the US is Coinbase and Crypto.com which has 0.50% and 0.40% of exchange fee, i.e, major fees, offering 139 & 160 different cryptocurrencies, and 402 & 267 interchangeable pairs.
And also there are many more other platforms such as FTX US, Bitforex, Kraken, Gemini, EtoroX, Voyager, Bitrue.
The increasing women participation in blockchain sectors is a legit, user-friendly app that has blockchain software introduced in it that helps in keeping all our transactions safe and secure.
Buying via these online platforms is super easy for anyone around. All you need to do is just select a platform; register an account with an approved legal exchange; then identity verification by KYC process; then just choose your preferred deposit method and deposit the amount, and on the completion, the fund’s clearance is redirected to the trading page and then just choose the coin you want to buy and enter the amount for how much you want to buy and confirm the transaction.
Greetings, you just bought a cryptocurrency successfully.
Also, it’s not important to buy a whole coin, instead, you can buy a portion of it also known as Satoshis. For a beginner, it’s always recommended to trade and buy from a broker because it’s user-friendly for beginners, and sell bitcoins directly but with a little higher fees.
And trading platforms are suggested for those who are experts or advanced users, as it has a good match of buyers and sellers of bitcoins with low fees.
Another option for buying Bitcoins for US investors is using a connected bank account if it allows trading. So here’s the list, just check out whether your bank allows cryptocurrency trading or not. Because Not all US banks have the access to get indulged in crypto trading are
- Bank of America
- Wells Fargo
- Capital One
- Discover Bank
- TD Bank
- PNC Bank
but some of those that are allowed to accept Bitcoins are
- Chime Bank
- USAA Bank
- Goldman Sachs
- Simple Bank
Well, buying bitcoins via Debit or Credit card in the USA is also a good option. As coin base has the easiest and fastest way to buy bitcoins with a 3.99% fee on debit card purchases and can buy instant coins without any waiting time. Also, there’s an option to buy bitcoins via ATMs using a few simple steps. Just enter your mobile number on atm screen and the verification code will be sent and after entering it and verification of account you can choose the coin you want to buy and then proceed with the payment via creating or scanning your wallet and then the cash is deposited of the amount you want to buy and then you can buy some satoshis in your wallet address that starts with 1 or 3 and is an alphanumeric long-chain sequence. Also, you can buy from your nearby seller with cash deposition in his account and then buy your bitcoins.
So, buying Bitcoins with a wide range of varieties of investing options becomes easy in a nutshell. Apart from these major portions, you also need to be careful with some minor points before investing and trusting any unknown sources of information.
Purchase and exchange of cryptocurrency are legal across the country. And there is no federal legislation for assets of crypto in the US, and the bodies at the federal level have guided to state and they have their regulations. Like New York which requires an exchange to acquire a BitLicense before operating inside the state and allows only licensed companies to offer certain coins.
Happy and Secure Investing !!!