The 4 Ways to Buy and Sell Bitcoin

The current value of a Bitcoin against US Dollar is fluctuating constantly. Many people are finding this coin valuable as it has many benefits. But that is a topic for another day. As this demand increases, you are required to know where to buy, sell, or even exchange from one form of currency to the other. Time factor is a key thing to note as you are required to transact the fastest way possible to avoid the price fluctuation. The other factor is that there are many companies and individuals who do the exchange transaction for others. You can  have t he transaction complete within a short time at an extra fee or other registered firms who will keep you pending for days but charge you less. Here is a list of recommended places where trader can purchase or sell these rear coins:

Instructions

  • 1

    Mt Gox: This is the largest market place for this popular coin. Due to its popularity, it is ranked by most researchers as the top in the coin exchange websites. It might be slow sometime due to congestion but to the daily, serious trader it is still worth using. It is only the day trader and maybe general site visitors who will notice the negative and bypass it.

  • 2

    The trader simply uses a wire transfer to Bitinstant and within a few minutes, equivalent number of Bitcoins is received. The charge is usually 4% + $3.95 from any MoneyGram branch. Other recommendations for the same transaction include; WalMrt or CVS for the same website. You can also bank the equivalent amount to MT Gox which usually takes several weeks but at no extra charges. Therefore bank transfer is the cheapest but slow. Due to the fluctuation price of BTC in the market, it would be advisable to use wire transfer. You can open the website and learn about it before using. The site has been known to decentralize the nature of BT market. A good example of the websites competitor can be Bitfloor.

  • 3

    The other reputable method is the Coinbase (https://coinbase,com). Coinbase is a great BTC exchange website. You create an account with them for free and you get a wallet address which you will use to receive Bitcoins from other sources. You will the sell or exchange the coins into USD on the website. In case you have money in your Coinbase account and you want the coins, the company will exchange it for you at a rate that is always displayed on top of your account. Unlike MT Gox, in Coinbase the exchange transaction are between you and the Website. Every trader’s information is private and there are no forums. The site can help you to integrate you blog/website to accept BTC by use of API codes. Your account and phone number can be connected in that you can track all your transactions. This makes it secure and trusted by its users.

  • 4

    The end of this list is the AurumXchange (https://www.aurumxchange.com). This website is a favourite to many users who want to get money out of Bitcoins. Whenever you sell Bitcoins and you need the cash in your bank account, it is through a wire transfer. This is similar to Mt Gox. The method is usually slow. They all have similarities with Bitinstant but this will never send for direct withdrawal. One disadvantage of AXC is that it has a high fee than the rest. It is however a registered partner of Mt Gox which makes it much more trust worth.

  • 5

    The companies involved in Bitcoin business are many but you have to look at factors such as security, and time factor. The services offered and the quality is also something to watch out for.

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