The How to Buy Bitcoin (HBB) index created by Fintech Zoom presents in February a demand of 7.5% of Bitcoin purchase by ATM.
Key Market Insights
- Only 0.6% seeks to know how to buy Bitcoin anonymously through their bank account.
- Currently, 7.5% are looking to buy Bitcoin through recent ATM machines.
- There is a 6.5% demand to exchange gift cards for Bitcoins
- Credit Cards are also the most used method (42%) to buy Bitcoins.
- 3% want to use paypal to buy Bitcoins. It is the second most used method.
Bitcoin is one of the leading characters in the financial technology industry presently. Bitcoin as well as other cryptocurrency have been widely adopted in various industries. There are several benefits that distinguishes bitcoin from other cryptocurrencies such as adoption as traditional payment method and lower transaction fees. Bitcoin is also listed on different exchange and trading platforms (read here Best Cryptocurrency Exchange and the Best Place to Buy Bitcoin) where they can be exchanged for fiat currencies and other cryptocurrencies.
How to Buy Bitcoin – HBB?
There are different means and platforms through you can purchase or get bitcoins and the procedure is mostly different. Some of these means include:
- Using Credit/Debit Card
Buy Bitcoin with Credit Card is the most widely method used. According to a research carried out recently, the use of credit card to purchase bitcoin accounts for about 41.7 percent of the total bitcoin purchased while that of debit card is about 15.6%. The credit and debit card is usually connected to your bitcoin wallet, however, using a credit or debit card to purchase bitcoin greatly depends on the bank and the type of card.
- Using PayPal
Buying bitcoin using PayPal is generally not supported on most exchange platforms. However, several users search for buy bitcoin with PayPal. First you create an account on the platform and complete the required information. Then you select how you want a deposit on the my account page, click on PayPal and go ahead to fund the account.
- Using Cash
This is one of the most secure ways of buying bitcoin and the percent of persons who purchase bitcoin using cash is 3.9%.
- Using Bitcoin ATMs
The numbers of persons using bitcoin ATMs to buy bitcoin amounts to about 7.5% of the total. This is also a secure way and there are numerous bitcoin ATMs all over the world. You just simply press “buy bitcoins”, confirm your identity, provide the wallet address and then input the money value of the bitcoin you want to purchase.
Other methods of buying bitcoin and the percent of persons who use such means includes:
- Gift Cards, 6.5%
- Bank accounts (Anonymously), 0.6%
- Prepaid card, 2.1%
- Walmart, 1.8% (Buy Bitcoin at Walmart)
About This Research – The keyphrases are grouped according to the rules of the HBB (How to Buy Bitcoin) Index
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