The crypto market has shown us its two-faced nature way too many times by now. On good days, Bitcoin may see price increases that go up to 15-20% within a day. On bad days, however, the reverse is true as well.
While new investors still panic at Bitcoin’s sudden price changes, the more experienced few have learned to capitalize on the opportunity. What is more commonly known as “buy the dip and sell the top” has become a high risk, high reward way to increase one’s holdings.
In this article, we will analyze the fastest methods that investors can utilize to buy Bitcoin when the price is dropping.
Fastest ways to buy Bitcoin
There are many different options investors can make use of, all of which result in the acquisition of Bitcoin. However, the methods differ in the way an exchange occurs. You see, there are exchanges, escrows, ATMs and even brokers, all of which can help you get there.
But which ones have proven to do a good job, both in deliverability and customer satisfaction? Let’s take a look.
1. Cryptocurrency exchange
And, of course, not every exchange is suitable. You see, most exchanges nowadays require users to go through complex verification processes and store your coins in their internal wallets. By the time your coins are in your personal wallet, it may already be too late.
For that reason, we recommend using an exchange that delivers your coins straight to your wallet while conducting verification checks that take less than 5 minutes to complete.
The platform has been designed to improve user experience and allow investors from all walks of life to buy Bitcoin faster.
After testing out the different options we found that the quickest way to purchase Bitcoin is by using one of the following options:
- Buy Bitcoin with Skrill (here) – this is probably the fastest way to purchase BTC
- Then there are options to buy BTC with Neteller – which is also speedy
- And last but not least, Payeer and AdvCash – which offer a way to buy Bitcoin without ID verification for up to 10,000 USD per year.
Pros of a cryptocurrency exchange
- Instant delivery of your coins to your previously indicated wallet
- Fast verification process and approximately 10 minutes to complete a transaction.
- Support team to assist along the buying process
Cons of a cryptocurrency exchange
- Lack of privacy with most payment methods
- Doesn’t accept cash
2. Escrow platforms – P2P exchanges
Some online platforms help users trade directly with one another, acting as an escrow. This means that the funds of one party are in the hands of the platform until the second party completes their end of the deal.
By using this method, users don’t need to know the identity of the other party and can easily exchange their funds for Bitcoin in a seamless way.
One thing to keep in mind, however, is that, while these platforms used to offer unverified transactions for all their users, they will now require ID verification if you surpass an annual limit of $1000.
The most popular P2P is currently LocalBitcoins, which allows users to buy Bitcoin not only with credit cards and cash but with more than 30 different payment methods, including gift cards, digital payment systems, and others.
Pros of a P2P exchange platform
- No need to trust your trading partner – the exchange takes care of that
- Very large number of payment methods
- Allows users to purchase $1000 per year without ID verification
Cons of a P2P exchange platform
- Higher limits require ID verification
- The most popular P2P exchanges offer only Bitcoin trading pairs
3. Bitcoin ATM
If you’ve been in the game long enough you may have some reservations on ATMs. After all, the fees are higher than most exchanges. However, consider this: While ATMs may have a higher average fee for your Bitcoin purchases, they can become really handy if you happen to have one close to you.
The atm will not only bypass all verification processes, but it will also send the BTC directly to your wallet, whether you pay by a card or use cash. The process is very simple and the transaction time is very fast.
Simply look up your area on CoinATMradar and see which ATM is closest to you. Chances are that there will be at least one ATM close by.
Pros of a Bitcoin ATM
- Privacy guaranteed – no ID verification necessary
- Accepts cash payments
- Delivers funds directly in your wallet
Cons of a P2P exchange platform
- May not be accessible in your location
- High fees when compared to other options
The three methods outlined above should give you a good idea of the fastest ways to buy Bitcoin. From this moment onwards, it will be up to your personal preference when it comes to the method you wish to use.
Keep in mind that, due to the volatile nature of cryptocurrency, it is best to only invest what you can afford to lose and only buy/sell Bitcoin when you feel 100% certain. There is always a risk factor that you should keep in mind.