Bitcoin and other cryptocurrencies are continuing to rise in popularity, drawing both first-time and experienced investors. While the process to buy and sell Bitcoin has been simplified over the past few years, many people still find it confusing. With banks, credit card issuers, and governments worldwide getting involved with rules and regulations on how the currency can be bought and used, it’s no wonder some people are wary to invest in cryptocurrencies.
Recently, Bank of America, Chase, and Citigroup joined Capital Oneand Discover in banning cardholders from using them to buy cryptocurrencies. Credit cards were one of the most popular payment methods because of their relatively low fees and instant transaction rates, and investors are having to look at other options to make their investments.
Different payment method options
With credit cards no longer being a reliable option, what are the best payment methods to buy Bitcoin? Each method has its perks and drawbacks, so it really comes down to what your priorities are when buying.