The interest in Bitcoin has been growing steadily throughout the years. People are wondering what are the easiest ways to buy bitcoin in the United States. At Veldt Gold we have good news! We made a short list that will make it easier for you to buy Bitcoin today.
Buy Bitcoin using Gold as Payment
Buying Bitcoin using gold is one of the easiest ways to get more cryptocurrency that remains largely overlooked. The reason many don’t know they can trade gold for bitcoin is that many of the local coin shops located in the United States are still not offering this as a service. This will eventually change as gold and Bitcoin both serve the same function in that they allow you to store wealth outside of conventional means.
Veldt Gold is currently the only gold dealer available that allows you to get bitcoin by trading in your precious metals. The main advantage of gaining Bitcoin by trading in gold and silver is that it maintains the peer-to-peer exchange that Bitcoin was created for. So how does using local coin shops fit into the easiest ways to buy Bitcoin in the United States? You can go to a local coin dealer and buy precious metals with cash. You then ship that gold and silver to Veldt Gold, and receive Bitcoin. Admittedly, this is not the most direct way to get Bitcoin. However the fees are low compared to other services. Also, at Veldt Gold you can buy Bitcoin anonymously up to a certain amount. If using gold to buy Bitcoin does not seem like something you would try then perhaps try a peer-to-peer service.
Using a Peer-to-Peer Exchange Service to turn Cash into Bitcoin
One of the first ways to buy Bitcoin in the United States was using a peer-to-peer exchange service. Currently the two largest peer-to-peer websites are Paxful and LocalBitcoins. The advantages of using either of these services is there are a lot of options to use to get Bitcoin. You can use unwanted gift cards, send money orders in the mail, or meet someone locally with cash.
One of the things to remember when using these peer-to-peer exchange services to buy bitcoin in the United States is that you are working with independent sellers. What this means is that Paxful and LocalBitcoins are simply platforms that vendors trade Bitcoin on. It’s important to protect yourself by always finding a seller that has good reviews from multiple people over a good length of time. By doing this you protect yourself from a scammer using the platform. Also, BE SURE TO ALWAYS USE THE ESCROW SERVICE! Never finalize the trade until the Bitcoin is in your account.
Buy Bitcoin in the United States using your Bank Account
Some people find it easiest to buy Bitcoin in the United States by linking their bank account information to purchase. The first and best-known provider that allows you to use your bank to buy Bitcoin is Coinbase. They have recently come under fire for raising their fees. Still, Coinbase provides a remarkably easy service. You can think of Coinbase as basically a bank that also buys and sells Bitcoin. Coinbase will ask for all your information including your SSN, DOB, address, and source of income. Coinbase will also require you give them a government ID to verify your identity.
Privacy Concerns
If you are a privacy-minded individual, Coinbase is not for you. Keep in mind that Bitcoin is pseudo-anonymous. Your Bitcoin holdings can be private if you never allow any private information to be associated with a Bitcoin wallet. You give up this anonymity, by linking your Bitcoin to identifying information. This means that anyone in the world can follow that Bitcoin, including seeing when it was moved, and what wallet it was traded to.
People may think having their Bitcoin traced is not bad because they intend to pay their taxes. This idea is not taking into account the full risk of linking your private data to the public Bitcoin blockchain. We live in a world where hacking seems to be not a matter of if but rather when. If Coinbase gets hacked, your information will be available on the Darknet. The amount of Bitcoin that you possess will also be available. Still, if you are looking to buy Bitcoin with a bank account in the United States, using Coinbase is the easiest way to do it.
Use a local Bitcoin ATM to buy Bitcoin
The last but also easy way to buy bitcoin in the United States is to use a Bitcoin ATM. If you are interested in using at Bitcoin ATM to buy Bitcoin you can find worldwide locations here.
Using a Bitcoin ATM is similar to using a regular ATM and most allow you to both buy and sell Bitcoin for cash. The difference with a Bitcoin ATM is you will have to scan a photo ID before you will allowed to transact. Remember that your ID will be forever tied to a Bitcoin wallet. In the event of a data breach your transactions can forever be traced and tied to you on the blockchain.
Questions about buying Bitcoin with Gold and Silver in the United States?
Veldt Gold makes it easy to buy Bitcoin with gold and silver online. We offer competitive buyback rates, and fast turnaround times! Please contact us to get a quote for your gold and silver.