Bitcoin is still relatively new to the financial mainstream, and with that newness comes a lot of questions.
As noted by the crypto experts from SoFi, “Cryptocurrency, often abbreviated to “crypto,” is a new type of digital currency. Crypto is decentralized, meaning that it is not controlled by a central authority like a bank or government and instead is exchanged person-to-person.”
Thankfully, it is clear that there are numerous ways to purchase the best-known form of cryptocurrency.
Five Ways to Buy Bitcoin
First, if you are wondering, “How do i buy bitcoin with SoFi?” you are in luck, as the process is easy. You can simply visit SoFi’s page and download their app, or make purchases from their website.
Second, you can use any number of apps that are specifically designed for Crypto and Bitcoin trading. There are a wide variety of such apps, and odds are good that you have seen advertisements for these apps in the past few months.
All of these apps come with a variety of pros and cons, including a slew of deposit methods, research into various cryptos, customer support, and more. If you want to use an app, make sure you do the research into what app best suits your needs.
Third, you can check out a larger website and app combination. Networks like this come with many benefits, including commission-free trading and the ability to potentially move your crypto wallet. Furthermore, if you want to examine more than Bitcoin, you can check out the slew of other stock, bond, and ETF offerings that these websites may contain.
Fourth, if you live in a foreign country, you can check out the offers that are exclusive to that country. These websites come with their own strengths and weaknesses, but chief among them is compliance with laws that are specific to that country.
Last, you can examine using a direct peer-to-peer platform. Unlike the apps and websites above, these platforms allow you to use numerous different payment methods and purchase Bitcoin or other cryptos directly from another person, thus cutting out the platform directly. While this can potentially make a purchase cheaper, it does mean you lose the backing and customer service of a formal institution, so that’s a trade-off you have to decide if you are willing to make.
There is no question about it: Many new websites and apps offer users the chance to get into the Bitcoin market. Do your homework, and make sure you find the website or app that is best for you.