The market capitalization of Bitcoin are growing like anything. They recently crossed the $10,000-dollar mark and are constantly on the rise. Lot of people are trying to invest in Bitcoin and other cryptocurrencies for the first time after widespread media coverage about the growth of Bitcoin in the past few months.
The most common way to buy Bitcoin, hold them as an investment or sell them was through Bitcoin exchanges. However, the waiting period in a Bitcoin exchange for new users has increased tremendously due to demand. Before you try to participate in the Bitcoin trade of an exchange to buy Bitcoin, you need to verify yourself using various documents. This whole process used to take a few days before, but it has crossed weeks now.
No Barrier Transactions Of Bitcoin
The one familiar alternative that used to be the go to for buying Bitcoin, apart from the exchange was LocalBitcoins. It was quite famous for its Tunes payment section. You can buy and sell Bitcoin using iTunes gift cards. Which was a viable payment method for a huge number of people.
The Need For A Barrier Free Banking Solution
Over 2 billion people around the world don’t have access to banking services. Without that, it’s difficult for them to have a chance at buying and selling Bitcoin. The aim of Bitcoin was to create a no barrier environment for banking technologies to connect every person on earth. However, with a system like this in place they won’t be able to do that. That’s where peer to peer networks like LocalBitcoins play a role. The transaction is between two people and there are various supported payment methods including gift cards.
The Problem With LocalBitcoins
However, the sad part is that, LocalBitcoins has stopped iTunes gift cards as a payment method quite recently. The official announcement on their forum just informs users of the band and doesn’t mention any specific reason as to why such a ban for enforced in the first place. This has again created a void in the complete integration of Bitcoin in the lives of everyday people around the world. So, I was looking for alternatives that provide the same service.
Paxful As An Effective Alternative
Paxful is a better alternative to LocalBitcoins in every possible way. Paxful provides options to buy Bitcoin using over 300 different ways of payment methods. This means that I will be able to trade my Bitcoin for almost anything that is worth selling in the first place. The user interface and the whole experience with the service was very smooth. You can buy Bitcoin with gift cards without having to wait for a long time at any exchange if you are just starting out.
I hope this article was useful for you to learn more about how you can get Bitcoin for yourself or for others fast and easy using various new methods of payment including gift cards. There are so many possibilities that are unlocked with the help of this. Make the most out of it. If you have any doubts with regards to this, let us know through the comments and we will be glad to help you out. If you have any suggestions regarding how we can improve the article, let us know them through the comments as well for us to improve.
Do you have any other reservations against getting yourself some Bitcoin as an investment or for the novelty of it? Are you invested on any other cryptocurrencies apart from Bitcoin? What is your opinion on the recent price surge that has taken Bitcoin well above the $10,000 mark? Do you think it’s just a fad or is it just the tip of a larger iceberg? Let us know in the comments.