Which Bitcoin to Buy

Where Should I Buy Bitcoin?

There are three main options for buying your first Bitcoin, and their suitability depends on your needs and circumstances.

1. Online Exchanges

Online exchanges are popular places to buy Bitcoin and other digital currencies, but they can be tricky to set up and you need to connect your bank account and wait for verification of your identity.

2. Peer-to-Peer Exchanges

We don’t really recommend using peer-to-peer (P2P) exchanges, but they used to be more popular back in the “Wild West” days when Bitcoin was first invented. The basic idea is that you go onto a forum-type website and negotiate a price with someone who is selling their Bitcoin. You then arrange to send them funds online, or meet them in person to pay cash.

3. Bitcoin ATMs

Bitcoin ATMs, or their modern counterparts, Digital Currency Machines (DCMs), provide the easiest, fastest and safest way to buy (and sell) virtual currencies with cash. You just walk up, enter your phone number, scan your mobile wallet and insert your cash. Voila, you own Bitcoin! (Or whatever currency you’d like to buy.) No bank account or back alley required. Easy peasy!

Which Cryptocurrency Should I Buy?

Not all digital currencies are cryptocurrencies, and if you want to start your journey, you have a plethora of choices, from crypto to stablecoins to specialty tokens. But if your curiosity started with Bitcoin, there are a few options you’ll want to look at first.

Bitcoin (BTC)

Bitcoin is the original cryptocurrency, and the benchmark that all other virtual currency is measured against. Designed to be decentralized and borderless, Bitcoin doesn’t belong to any one country and is not controlled by banks or governments. Bitcoin is currently trading at an all-time high of close to $24k. While it’s known for price volatility, it’s enjoying a mainstream heyday as major companies including PayPal, Square, Visa and Robinhood embrace its potential.

Bitcoin Cash (BCH)

Bitcoin Cash is a variant of Bitcoin, forked from its blockchain in 2017. BCH is lighter, faster, and potentially more scalable, with blockchain block sizes that are 8x as big.

Litecoin (LTC)

Litecoin is designed to be the “silver” to Bitcoin’s “gold.” It was made from Bitcoin’s cloned and revised source code in 2011 — not exactly a hard fork, but still based on Bitcoin.

Other Altcoins

Ethereum is second in popularity to Bitcoin, and it also forms the platform for many stablecoins and tokens. The currency for the Ethereum blockchain is called Ether (ETH), which is currently trading at just over $600 … so you can get 40 ETH for the price of one BTC.

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Coin Cloud

Coin Cloud

The world’s leading operator of two-way Digital Currency Machines (DCMs), more advanced Bitcoin ATMs.