: While highly convenient, this was expensive. Credit/debit card purchases typically carried heavy fees (often ranging from 3.50% to 5% ). Furthermore, during peak traffic spikes in late 2017, these platforms frequently suffered server outages and massive backlogs on manual ID verification.
: Sites like LocalBitcoins and Paxful were the dominant players. quickest way to buy bitcoin 2017
: You signed up, passed a basic automated identity check, linked a Visa or Mastercard, and bought directly at the quoted retail price. : While highly convenient, this was expensive
: 15 to 60 minutes , depending on how fast the seller responded and verified your payment. : Sites like LocalBitcoins and Paxful were the
: You would find a machine via directories like Coin ATM Radar . You typed in your phone number for a quick SMS verification, held your mobile wallet's QR code up to the scanner, and fed paper cash directly into the machine.
The fastest ways to buy Bitcoin in depended on whether you were willing to pay higher fees to bypass lengthy identity verification (KYC) processing delays. During the massive crypto bull run of 2017, centralized exchanges were notoriously overwhelmed, making alternative methods the absolute fastest routes to acquire the asset. ⚡ 1. Bitcoin ATMs (BTMs)
: You would browse local or global listings of independent sellers who were willing to trade Bitcoin for various payment methods. You would open a trade, and the platform placed the seller's Bitcoin into an automated escrow account. You then sent the payment directly to the seller via methods like cash deposit at a bank, wire transfer, PayPal, or even gift cards. Once the seller confirmed receipt of the funds, the platform released the Bitcoin to your wallet.