The cryptocurrency market is booming, and Bitcoin is leading the charge. But for those who are new to the world of digital currencies, buying Bitcoin can be a daunting task. There’s no easy way to buy Bitcoin, and the process can be confusing and intimidating.
The first step to buying Bitcoin is to find a reputable exchange. There are many exchanges out there, but not all of them are trustworthy. It’s important to do your research and find an exchange that is secure and has a good reputation. Once you’ve found an exchange, you’ll need to create an account and link it to your bank account or credit card. This is where the process can get tricky, as some exchanges require additional verification steps.
Once you’ve created an account and linked it to your bank account or credit card, you’ll need to fund your account. This can be done by transferring money from your bank account or by using a credit card. Depending on the exchange, you may also be able to purchase Bitcoin with a debit card.
Once your account is funded, you’ll be able to buy Bitcoin. You can either buy it directly from the exchange or you can use a trading platform to buy and sell Bitcoin. Trading platforms allow you to buy and sell Bitcoin with other users, and they often have lower fees than exchanges.
Buying Bitcoin can be a confusing and intimidating process, but it doesn’t have to be. With the right research and preparation, you can find a secure and reputable exchange and buy Bitcoin with ease.
27 thoughts on “Buying Bitcoin: No Simple Solution”
I think there’s a law in the US that made binance verified users being able to withdraw up to a million daily but as always you need to be verified.
That is a hell lot more than one BTC but i’m not so sure of every detail since this is more money that i will have in my lifestime so i never took interest in searching-learning the details besides some glimpses here and there but you can do it and see if fits your needs of 1btc withdraw.
get an exchange account. the daily limits are like 100k or something.
email strike support and request an increase in deposit/ withdrawl limit. I moved a lot in and they helped me get it out faster. they did not bump it over a full coin, but it was something. I’d check out Swan or some other exchanges over the counter desk for large purchases to avoid unnecessary fees.
Buy bitcoin on a large exchange
If you are verified then fhe limit is easily over $100K
I use Coinbase and I can buy > a whole coin. I don’t know what the trick is with other exchanges… but I didn’t do anything special to get my purchasing power limit to where it is.
Use over-the-counter for over $2k. https://www.calebandbrown.com/
This is a tough problem to overcome because of the limits made by the traditional finance system. Moving the BTC is child’s play, but moving the dollars is highly scrutinized.
River claims they have no problem with $100,000 at a time: [https://river.com/buy-bitcoin](https://river.com/buy-bitcoin)
Might want to fire a Q off to their support and see if they can do more than that.
If you know any big miners you may want to approach them directly and bypass the exchanges altogether. Failing that, ask Bull Bitcoin. They’ve got a high-net-worth service called Prime but It may only be for Canadians… [https://www.bullbitcoin.com/prime](https://www.bullbitcoin.com/prime)
Try bisq. Some fiat payment methods have a limit lower than 1 btc but you can have multiple simultaneous transactions with different btc sellers.
There’s no way for the exchange to ensure that there won’t be a charge back.
Bitcoin = final settlement in ten minutes
Traditional finance = final settle by wire in a few days. Final settlement by bank transfer could be reversed weeks or months later. Credit card could be up to a year later.
To avoid fraud it just isn’t possible.
That is a very good question, OP.
I had these talks with some high net worth people who want to buy 5-10 bitcoins in one go. I never figured how to help them. Most people do not make such large purchases, but others lose interest in anything smaller. Due to money management attention span etc.
Let me know if you find an answer and share so other people can benefit too.
Looks like a lot of new people have been getting into crypto. I consider this bullish.
Perfect post for this rant!!!
Okay so Svb and SI held billions in Crypto startup funds.
They have severed a sizable percentage of liquidity.
With the sec probing at coinbase.
Many institutions are out for a little.
Saturn in Pisces! As of March 7, last change was March 2020.
The government/banks need to stab at bitcoin while they can.
Tinfoil hats on,
Bitcoin takes a huge hit over the weekend I would guess Sunday as that fits the formula for 2020.
Have low buys set!! We may see 14k-22k let’s grab it all, or they will. They need to resort to manipulation or the gig is already up.
Lock in buys!!! We have to represent humanity and defend from the bad holders, who make bag holders.
Done this multiple times with coinbase and once with binance. The only limit I’ve run into is they don’t let you transfer your coin until the funds have fully cleared. Once that time has passed (I think 10 days on both) there is no limit sending to your own wallet.
I think you are confusing the limits for transferring USD.
Edit: just reread- I think you are trying to do an ach initiated by your exchange. Contact your bank and do a wire transfer.
If you’ve been slowly collecting sats then I would recommend stick to your current strategy and continue to DCA. Buying a whole coin at once will make you more emotional to big dips and might force you to make bad decisions. Just stick to the plan. Plus, we might see 20k again. At 20k, buying a whole coin might be worth it.
You wanna know what’s crazy.. I remember starting to doubt everything at 16k, and it stayed at 16 for a minute. I remember being so close to losing hope and I remember thinking man this just isn’t gona work out. I about gave in. So glad I didn’t. I’ve got more than 1 BTC, And I have been stacking since just before ATH 21’
They are closing the exits.
Kraken is better to use
Paypal. 100,000 per week and no annual limit. Link your account to a credit card. Then move the purchase to your wallet. This is for the USA
Swan bitcoin has high limits…but your BTC must sit in custody for 10 days. They do this because of charge backs. Peer to Peer on Bisq maybe?
Kraken is the best. They’re getting their ACH situation sorted still.
Gemini is my second favorite and works well for an on ramp.
Goddammit, I wish would solve this already!