The Most Popular Payment Methods To Buy Bitcoin In 2019
There used to be a time when buying Bitcoin was one of the most complicated processes on the internet. Then, you had to know the seller directly, or know an in-between who can carry out the trade with cash or pay to a bank account. The process used to be very manual and cumbersome. Despite all that, people still made efforts to acquire Bitcoin. Today, platforms like Vertex.Market have simplified the process by providing several automated options for users to buy Bitcoin and other cryptocurrencies. Listed below are the most popular payment methods to buy Bitcoin in 2019.
Vertex has created a simplified process whereby Sellers can sell Bitcoin and other cryptocurrencies, accepting payment only through their preferred payment method. Likewise, Buyers can choose offers based on their preferred payment method. Therefore, the list below which shows the most popular payment methods to buy Bitcoin in 2019 includes the offers that are well represented on Vertex.
PayPal is one of the most popular online payment systems. It is well adapted to suit online merchants and can be connected to users’ credit/debit cards. Paypal is widely used, but is restricted in some countries around the world.
This is an electronic wallet that enables fiat payments. It is also well adapted with online merchants. Most users of Alipay simply use the app on their devices to scan QR codes when making payments. Same applies when using it to buy Bitcoin.
This is a popular kind of electronic payment system in China. Wechat Pay has an eWallet similar to Alipay, only that this one is connected to the Chinese bank account of the user. This makes it somehow restricted to Chinese users only, or users that are affiliated to China.
This is a mobile payment app of Swiss origin. The TWINT app enables you to pay for products and services using your smartphone. All you need in order to buy Bitcoin using TWINT on platforms like Vertex is the ability to scan the QR Code, and a five-digit payment code. Others are your personal security settings like your password and PIN. Here is a short video of how to use TWINT:
This is another system that made it onto our list of the most popular payment methods to buy Bitcoin in 2019. PayTM originated in India and remains a popular means of making payments over the internet in the Asian country. It is a versatile payment system that is being used in the region to settle all kinds of bills. People can now use it buy Bitcoin (on Vertex).
This is a payment method that is better known as an online transfer system. Many people use Neteller to send money across the globe. It is widely accepted in many countries and is one of the most popular methods to buy Bitcoin in 2019.
Like Neteller, Skrill is also known as an online money transfer system. Over 20 million people are using Skrill around the world to send money. It is also adaptable as a payment system by merchants. It is common to find sellers requesting Skrill as a method of payment when selling Bitcoin.
Here is another electronic payment system that has grown in popularity recently. Many online transactions use Payoneer today as it is versatile and good for business. Many Vertex users advertise their sales to include their preferred payment method as Payoneer when selling Bitcoin.
Webmoney was founded in 1998 and has sustained its relevance as an online payment system ever since. The platform was able to achieve this due to its ability to adapt to technological changes and evolve with the trend. The payment system was founded in Russia, but is popular in almost every part of the world.
Payza was founded in 2012 in Montreal, Canada. Right now, the headquarters of Payza are in London. This payment system has spread to many parts of the world, including Africa and Asia. It has become a very popular payment method on Vertex for buying and selling Bitcoin.
This is one of the solutions that has encouraged borderless payment. With Transferwise, you can pay sellers in your local currency, and they get settlement in their own local currency. It is used by many people today to buy Bitcoin or any other cryptocurrency.
This is a payment method that is a little over 4 years. It seems like a purpose built system for a time like this. It is a UK fintech platform that offers banking services that extends even to cryptocurrency exchange. The platform’s mobile app supports spending and ATM withdrawals in 120 different currencies.
This is another product out of Russia. It has been around since 2002, and in 2016 a survey by TNS classified it as the largest electronic payment service. Yandex money serves for both individual and merchant payment. Many people are using this payment system to buy Bitcoin.
This is the native money of the Apple brand. However, its use goes way beyond the Apple platform. This kind of money is stored in the user’s Apple wallet and can be used to make payments online. People are using this payment method to buy Bitcoin.
This is another payment method that was developed by one of the most popular brands on the internet. Also in this case, using Google Pay extends beyond the brand’s circle. It can be used to make payments on websites or through its mobile app. Again, many people are adopting this as a payment system to buy Bitcoin.
Venmo is a mobile payment system that can only be used by people in the US. To be able to use Venmo to buy Bitcoin, both you and the seller must be based in the US. The payment app is a product of PayPal and is responsible for huge volumes of transactions that are taking place over the internet.
Local Bank Transfer
This is one of the most traditional systems for making transactions. Many Bitcoin sellers who want to be paid in fiat would use the local bank transfer system. It is a system that is popularly used on the Vertex platform.
This is an app that is used for transferring funds. It works in the UK and Saudi Arabia. If you want to buy Bitcoin and you are in any of these two countries mentioned above, the STC Pay could be a viable option for you.
Using other cryptocurrencies to buy Bitcoin is one of the most popular transactions that happens across exchanges. It happens during speculative trading and also when building a portfolio. Many people also follow this route when they want to extract value from those altcoins that cannot be traded with fiat directly. They use such an altcoin to buy Bitcoin first, and then sell the Bitcoin for fiat.
Platforms like Vertex, an peer-to-peer marketplace, provide avenues to buy Bitcoin using any of the above listed methods. No matter your means of payment, or in what form your money is, chances are that you will find a suitable method that fits your circumstances among the list above.
Very large volumes of Bitcoin change hands every day, and the methods of transactions that are used to execute these trades vary. The list above gives us a comprehensive compilation of the most popular payment methods to buy Bitcoin in 2019.