People around the world are wondering how to buy Bitcoin. Some countries are already experiencing a collapse in the stability of their local fiat currency. This leads to insanely high prices for every day items, like bread and toilet paper.
What do people see as an alternative to their failing currency? Bitcoin. The cryptocurrency is now a household name, but not everyone knows how to buy it.
So, how do you buy Bitcoin from anywhere in the world?
A few important things!
There are a few important things to mention before we get into it, so please don’t skip this section:
- Wallet – You should already have a crypto wallet setup and fully synced to the network before buying Bitcoin (or any other cryptocurrency).
- AML/KYC – Anti-Money Laundering (AML) legislation came into effect on January 1st, 2020 requiring all cryptocurrency exchanges to verify user information (KYC) before authorizing trades. I’ll try to post options that are free of KYC and make a note of it where applicable.
- Local Restrictions – Some users’ governments may restrict the browsing capabilities of their internet. Proxies can likely be used to get around this. Feel free to ask for help in the comments, but take any advice with a grain of salt. Always be skeptical in this space and never provide any wallet keys or other sensitive information.
How I would buy Bitcoin from (mostly) anywhere in the world
The easiest way to buy Bitcoin from anywhere in the world is via a non-custodial exchange. Changelly is my favourite option in this space.
Do you have a wallet ready to rock? If so, you can buy your first Bitcoin right below starting with as little as $50USD!
If Changelly is not an option for you, keep reading below for a couple of alternatives.
How to buy Bitcoin from ATMs
Most Bitcoin ATMs are free of KYC, but pose the same security risks as any other ATM machines. Ensure the ATM you are using is in a public location, or bring a friend or two with you.
You can deposit cash for crypto, or crypto for cash. You’ll need a scannable QR code for your crypto wallet address in order to make life easy for yourself.
Coin ATM Radar is a great resource for locating cryptocurrency ATM machines around the world.
Local Custodial Exchanges
Custodial exchanges always require KYC. If they don’t, I don’t trust them as far as I can throw them. However, you will need to buy Bitcoin through a custodial exchange if Changelly and Bitcoin ATMs are not an option for you.
We’re going to put together a special page for this, but you can filter through the list of exchanges here to locate a local custodial Bitcoin exchange for now.