I Tried 3 Ways to Buy Crypto: Exchanges, Apps, and ATMs—Here’s Which Won

In the ever - expanding world of cryptocurrency, the question of how to buy digital assets efficiently and safely is crucial for both beginners and experienced investors. I recently decided to put three popular methods—exchanges, apps, and ATMs—to the test to see which one offers the best experience. Here's a detailed breakdown of my findings.

Cryptocurrency Exchanges

I first tried buying crypto through a well - known centralized exchange, Binance. The process started with registering an account, which required providing personal information such as my name, email address, and proof of identity. This KYC (Know Your Customer) verification process took a bit of time, around 24 hours for full approval.

Once my account was set up, I linked my bank account to deposit funds. This was a bit of a hassle as it involved waiting for the bank transfer to clear, which took about 3 business days. After the funds were finally in my account, I was able to purchase Bitcoin. The trading interface on Binance was relatively intuitive, with options to buy at the current market price or set a limit order.

The advantage of using an exchange like Binance is the wide variety of cryptocurrencies available. I could choose from not only Bitcoin but also Ethereum, Litecoin, and hundreds of other altcoins. The fees were also relatively low, especially for larger transactions. However, the waiting times for deposits and the need for extensive identity verification were drawbacks. Additionally, there is always the risk of hacking or platform - related issues, although Binance has a good reputation for security.

Crypto - Buying Apps

Next, I turned to a popular crypto - buying app, Coinbase. The app is known for its user - friendly interface and is very popular among beginners in the United States and Europe.

Downloading the app was quick and easy. I signed up for an account and was able to link my debit card in a matter of minutes. This allowed me to make an instant purchase of Bitcoin. The app's interface is clean and straightforward, with big buttons for buying and selling crypto. It also provides real - time price updates and a simple way to track your portfolio.

One of the biggest advantages of the Coinbase app is the convenience. I could buy crypto anytime, anywhere, directly from my smartphone. The verification process was also relatively fast, taking only a few hours for basic verification. However, the fees on Coinbase are relatively high, ranging from 1.49% to 3.99%, which can eat into your profits, especially for small - scale transactions.

Cryptocurrency ATMs

Finally, I decided to try a Bitcoin ATM. I located a nearby ATM using an online map service. The ATM was located in a convenience store, which made it very accessible.

When I approached the ATM, I was greeted with a simple, touch - screen interface. There was no need to create an account or go through a long - term verification process. I simply inserted cash into the ATM (in this case, I put in $100), and then scanned the QR code of my digital wallet. The ATM then showed me the amount of Bitcoin I would receive based on the current market price and its fee structure. The fee was 6%, which was higher than the exchange fee but still acceptable for the convenience.

Within minutes, the Bitcoin was transferred to my wallet. The whole process was extremely quick and easy, especially for someone who doesn't want to deal with the complexity of online platforms or apps. The anonymity of the ATM transaction was also a plus, as it didn't require any personal information beyond the wallet QR code. However, the limited availability of crypto ATMs (not all areas have them) and the higher fees are significant drawbacks.

And the Winner Is...

After trying all three methods, it's difficult to pick a clear - cut winner as each method has its own strengths and weaknesses.

If you are looking for a wide variety of cryptocurrencies, low - cost transactions for larger amounts, and don't mind the waiting time for deposits and the verification process, then cryptocurrency exchanges are a good choice. Binance, for example, is a great option for experienced traders who want to access the full range of the crypto market.

For those who value convenience and a simple, intuitive interface, and are willing to pay a bit more in fees for the ease of use, crypto - buying apps like Coinbase are ideal. They are perfect for beginners who want to be able to buy and sell crypto on the go with just a few taps on their smartphones.

Cryptocurrency ATMs, on the other hand, are the best choice for those who need instant access to crypto with cash, value anonymity, and don't want to deal with online processes. They are great for small - scale, one - time purchases or for people who are new to crypto and want a quick and easy introduction.

In conclusion, the best method for buying crypto depends on your individual needs, preferences, and circumstances.

BlockATM Website: https://www.blockatm.net/en-US