We are often asked, “What is the best way to buy Bitcoins?”
There are of course several ways, and in the near future we will be posting a complete guide, but until then, one of the best answers is short answers is Coinbase.
If you are not familiar with Coinbase, they make the process of buying and selling Bitcoins a no-brainer. Gone are the days of sending funds via some wire service and waiting…and waiting…and waiting for your coins to be deposited. Simply create a Coinbase account, add your bank account info, and you are off to the races.
Buying Bitcoin has never been easier. Simply:
- Sign up by clicking the link here
- Click on the “Buy/Sell” link on the right hand side of the page
- Click on the “Verify A Bank Account” link
- After your bank account is verified, go back to the “Buy/Sell” link and enter the amount of coins you want to buy and you are done!
Once you have your Bitcoins you can of course spend or send them wherever you like. A quick note here: your first purchase will take 4 business days to complete, Coinbase will keep you well informed via email throughout the process. Once the first purchase is complete, you can add a credit card to your account as a backup payment source to become what they call Fully Verified, once this is done your future Bitcoin purchases will complete immediately! This is one of the features that solidify Coinbase as our #1 recommendation.
When it is time to trade your Bitcoins in for cash, the process is even easier.
- Transfer your coins to your Coinbase account if they are not already there
- Click on the “Buy/Sell” link
- Click on the “Sell Bitcoin” Tab
- Enter the amount Bitcoin you want to sell
Done! The coins will be sold and the proceeds from the sale sent directly to your bank account, no muss, no fuss. Talk about market liquidity!
What else does Coinbase do?
Coinbase is also much more than just a means for individuals to purchase and sell Bitcoins, they also offer merchant tools to make it easy for businesses to accept Bitcoins as payment for their goods and services. In addition, they offer a simple and easy way to add a Bitcoin donation button to your site, we proudly use this service and appreciate any help our readers are willing to provide to help us offset the expense here at Crypto Pros.
But is it secure?
In our opinion, yes. They have implanted a top-notch security system, store your coins offline, run the site under an SSL certificate, have secured paper backups, and offer the option of utilizing two-factor authentication.
As we mentioned at the beginning of this piece, there are multiple ways to acquire and sell Bitcoins, but we find Coinbase to be the easiest and quickest option available today and highly recommend you start an account with them, which you can do by clicking the link here.