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The Best Ways to Buy Bitcoin in Florida

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Bitcoin is currently the most valuable and popular digital currency in the market. It has, for the last two years, risen to astronomical levels, at one point surpassing the $10,000 mark and almost hitting the $20,000 mark in late December 2017.

Bitcoin has made smart and lucky traders multi-millionaires. It is no wonder that many crypto enthusiasts as well as other people new to cryptocurrency want to try and make some money trading and speculating on this coin.

Just like in any other state, city or country, Bitcoin users in Florida use more less the same methods as others in different regions to buy bitcoins. You also have to go through the same processes involved in buying digital coins depending on the method you choose to use.

Here are some of the best methods you can use to buy bitcoins in Florida. Remember to get a suitable wallet where you will keep your bitcoins for security purposes. Preferably, get an offline or cold wallet.

Bitcoin ATMs (Automatic Vending Machines)

(Image: Wagner Tamanaha/Flickr)

Bitcoin ATMs are gradually spreading in various regions across the world. Florida is among the places that are lucky to get these machines. There are currently more than 20 bitcoin ATMs in Florida. The machines are located at strategic locations such as gas stations and road side motels.

These machines operate in the same manner as others in different regions. You simply feed the machine with fiat currency, then the machine sends the amount of bitcoin you’ve bought to your bitcoin address you provide. You provide the address by scanning the QR code of your wallet at the ATM. Remember; you can also sell your bitcoins conveniently at these ATMs. Learn more at https://www.abitgreedy.com/bitcoin/.

Buy Bitcoin with Cash

paul ryan
(via Wikimedia)

Buying bitcoins using hard cash is a good way if you want the coins urgently and are near potential vendors. If you prefer to buy bitcoins in Florida using hard cash, you can find vendors who will provide you with this service. Finding a vendor requires you to carry out a bit of research online to get verified and trustworthy individuals. There are numerous sites where bitcoin vendors have placed ads and have reviews. Look out for those with the best reviews as they are likely to process your transaction faster. Avoid those with negative reviews as they may be scammers. When you are going to meet any of the vendors you choose, make sure it is in a public and open space for security purposes.

Use Local Bitcoins Site

The LocalBitcoins site is perhaps the most popular avenue of buying bitcoins all over the world. The site connects buyers and sellers of bitcoins in your local area. You do not have to meet with the vendor since you can carry out the transactions online.

Once you agree on the mode of payment, you send the amount you wish to spend to the vendor; upload a copy of the payment. The vendor will have released the bitcoins in an escrow account. Once they confirm your payment, the bitcoins are released to your bitcoin address you provide. Make sure to check the ratings and reviews of different vendors as well as their listed prices. With LocalBitcoins, you are never asked for personal details for verification. However, there are a few traders who might require some form of identification. It all depends on the vendor you transact with.

Bank Wire Transfer

Bank wire transfer is another good way you can use to buy bitcoins while in Florida. This method is especially suitable if you want to do a big transaction. It is safe, cheap and convenient, but can take a lot of time going through the various verification processes.

Additionally, banks may take a long time transferring your money from your account to the beneficiary’s bank account. This method also requires you to find a suitable exchange to buy your bitcoins. Check reviews to find one that is safe and that which takes the shortest time to transact.

Debit and Credit Cards

Using debit and credit cards is a convenient way of buying bitcoins in Florida. You can use your Visa card, Master Card or any other credit card as long as it will be accepted by your seller. Simply identify an exchange that accepts credit and debit cards, upload the required details like your identification card for verification purposes then enter your card details. you will specify the amount of money you want deducted from the card and receive an equivalent number of bitcoins.

You will need to provide your bitcoin wallet address where the seller or the exchange will send your bitcoins. Never leave your coins in an exchange once you make a purchase as they are prone to hackers. Please note that you will incur all the transactions costs of using these cards.

Using PayPal and other Money Transfer Platforms

There are various sites that accept payments via PayPal and other money transfer platforms such as Skrill. You can use these platforms if you want a quick transaction to take advantage of the fluctuations inherent in the cryptocurrency industry. PayPal is a costly but a quick way of getting bitcoins online.

Some platforms only allow you to trade bitcoins using PayPal but never allow you to own them to protect themselves from possible chargebacks. Chargebacks are the major downside of using PayPal especially if you are the seller. You can as well use Skrill which works more or less like PayPal to buy bitcoins but you have to find a suitable exchange that accepts this company as a payment method.

Using another Cryptocurrency

Bitcoin is just one among the many cryptocurrencies available. There are platforms that allow the exchange of cryptocurrencies. You can opt to use any other digital coin such as ether or dash among others to exchange the same for bitcoin in the exchanges that allow such transfers to take place. This is one of the easiest methods you can use since you do not have to go through any verification process. It is just a matter of a simple swap of digital coins.