Do you find yourself wondering, how do I buy cryptocurrency in today's economy? There are several methods you can choose to buy crypto. Today, people can purchase cryptocurrency through cryptocurrency wallet apps, centralized exchanges (CEXs), peer-to-peer trading platforms, or in person at cryptocurrency ATMs. Each method has its own pros and cons in terms of convenience, privacy, fees, and security. Some options require complex verification steps or waiting days for approval. When determining the best way to buy cryptocurrency for you, it's important to consider factors such as your payment method, how long the approval process will take, and where your crypto will be stored after purchase.
Cryptocurrency ATMs from Pelicoin are the easiest method to purchase crypto, especially for beginners who want to use cash without dealing with complicated online platforms or having to wait for long approval periods.
Read on so you can answer “how do I buy cryptocurrency?” with confidence. Below, we explore the various ways you can purchase cryptocurrency and each method’s pros and cons.
Comparing Cryptocurrency Purchase Methods
Cryptocurrency Wallet Apps
Wallet apps allow you to buy cryptocurrency directly within the app.
Pros:
Convenience of purchasing and storing in one place
Often self-custodial, meaning you control your private keys
Quick purchases once you've completed the initial setup
Can make purchases using credit/debit cards or other payment methods
Cons:
May require identity verification for first-time purchases
Typically charge higher transaction fees compared to exchanges
According to recent data, wallet apps may include both price spreads (the difference between buy and sell prices) and transaction fees that can total around $28.40 for a $1,000 Bitcoin purchase
Many wallets charge fees for cryptocurrency swaps (0.85% for Phantom, for example) when trading between different cryptocurrencies
Limited to the cryptocurrencies supported by the specific wallet
Centralized Exchanges
Cryptocurrency exchange platforms function as online marketplaces where you can buy various cryptocurrencies.
Pros:
Wide selection of available cryptocurrencies
Often have lower fees for larger purchases
May offer advanced trading features
Cons:
Require creating accounts and completing verification processes
Your cryptocurrency is held by the exchange (not self-custodial)
May impose severe restrictions on withdrawals
Account freezes are possible if deemed a security risk
Withdrawal can take days and often involves high fees
Vulnerable to exchange hacks or bankruptcy
Peer-to-Peer Trading Platforms
These platforms connect individual buyers and sellers directly and often include escrow services.
Pros:
May offer more privacy, as some don't require identity verification
Various payment methods, including cash, bank transfers, or payment apps
Can sometimes negotiate prices directly with sellers
Cons:
Generally less convenient and often more costly due to lack of liquidity
Requires trusting the platform's escrow system
May involve meeting strangers in person if using cash
Cryptocurrency ATMs
Physical cryptocurrency ATMs that allow you to purchase cryptocurrency with cash or a debit card without any long approval periods.
Pros:
Easy to use; similar interface to a traditional cash ATM
No need to set up complex online accounts
Quick and convenient transactions
Enhanced security and privacy compared to online methods
Protection from online data breaches
Cash-friendly for those who prefer to buy crypto with physical currency
Instant transactions (though blockchain confirmation takes time)
Strategically located in convenient locations that are either open late or 24/7
Pelicoin ATMS have the lowest fees of any Bitcoin ATM, making them more economical than many wallet apps
Cons:
Location-dependent (need to be near an ATM to buy cryptocurrency from one)
May have transaction limits
Why Cryptocurrency ATMs Are The Best Way to Buy Cryptocurrency
Are you wondering “how do I buy cryptocurrency?”, but feeling overwhelmed by the options? Pelicoin, the Gulf South's most secure cryptocurrency ATM network, offers one of the simplest solutions for buying Bitcoin and other cryptocurrencies with cash or debit cards. Our Bitcoin ATMs eliminate the complexities of online exchanges, offer a familiar user experience, and provide enhanced security by keeping your transactions off vulnerable online platforms.
Unlike online methods that can take days to process, ATMs provide immediate access to your cryptocurrency, putting you in control right away. Our 24-hour customer support via email or phone call ensures you have access to crypto professionals who can guide you through your transaction.
For newcomers worried about security risks, ATMs provide peace of mind with physical transaction locations instead of sending your sensitive information across the internet. Using a cryptocurrency ATM also protects your bank accounts from potential closures, as some financial institutions still view cryptocurrency purchases with suspicion, but ATMs give an extra layer of legitimacy to your crypto purchase. Additionally, Pelicoin's strategically placed Bitcoin ATMs in stores that are either open late or 24/7 mean you can buy cryptocurrency on your schedule, not according to banking hours or website maintenance windows.
Why Choose Pelicoin Cryptocurrency ATMs?
Pelicoin stands out as the best cryptocurrency ATM in the market for several reasons:
Lowest fees of any Bitcoin ATM in the region
30+ machines conveniently located throughout Louisiana, Mississippi, Alabama, Tennessee, and Texas
Easy-to-use interface designed for both beginners and experienced crypto users
24/7 availability at most locations
24/7 support available
How Do I Buy Cryptocurrency Using a Pelicoin ATM?
Purchasing cryptocurrency through a Pelicoin ATM is simple. Here's a step-by-step guide:
Step 1: Find Your Nearest Pelicoin ATM
Use the location finder on Pelicoin's website to locate an ATM near you. With nearly three dozen machines across the Gulf South, there's likely one conveniently located in your area.
Step 2: Prepare What You Need
Before visiting our crypto ATM, make sure you have:
Cash (minimum $20 for Bitcoin transactions)
Your mobile phone
Your cryptocurrency wallet address or QR code (optional if you want to create a paper wallet)
Step 3: Follow the ATM Instructions
Tap "Buy Coins" on the start screen
Select how much cash you want to convert
Enter your phone number
Input the verification code sent to your phone
Choose your cryptocurrency (Bitcoin, Litecoin, or Ethereum)
Select which crypto wallet will receive your cryptocurrency:
Scan a QR code from your existing wallet
Enter your wallet address manually
Create a paper wallet (for beginners without a digital wallet)
Insert your cash
Complete the transaction and decide whether to print a receipt
Benefits of Using Pelicoin ATMs for Cryptocurrency Purchases
When asking how do I buy cryptocurrency securely and conveniently, Pelicoin crypto ATMs offers notable advantages:
Security: Our ATMs are secure, so you can purchase cryptocurrencies without worrying about your bank closing your account
Familiar Interface: Because our ATMs are modeled after traditional cash ATMs, most users find them intuitive and easy to use
Convenience: No need to set up online accounts with unknown exchanges
Protection from Data Breaches: Bitcoin and other cryptocurrencies are inherently more secure and safe from theft because, by purchasing directly through an ATM, you would be unaffected by a bank data breach
Accessibility: Our machines are strategically placed in convenience stores, gas stations, and other establishments that are open late or 24 hours a day
Common Questions About Buying Cryptocurrency:
How long does it take to receive my cryptocurrency?
When you purchase Bitcoin from one of our Bitcoin ATMs, the Bitcoin is sent to you via a network called the Blockchain. While we send transactions instantly, it takes 30-60 minutes for the Bitcoin to be sent to your wallet via the Blockchain. You may see the transaction pending immediately; however, not all wallets have this function.
What do I need to purchase Bitcoin from a Pelicoin ATM?
You'll need the cash you're using to make your purchase, your mobile phone, and your driver's license (depending on the amount of bitcoin you'd like to purchase). You'll also need your Bitcoin wallet address, unless you intend to create a paper wallet. Scanning your wallet's QR code at the machine is the easiest way to receive your Bitcoin.
Which Bitcoin wallet should I use?
The only way to send and receive Bitcoin is through a Bitcoin wallet. Bitcoin wallets have unique wallet addresses that are specific to each wallet. For security purposes, some wallets generate a new receiving address after each transaction. We recommend using Bread's Bitcoin wallet (BRD), which can be found in your smartphone's app store.
What's the transaction limit?
Bitcoin transactions ranging from $10-$9,000 are available at Pelicoin's ATMs. Litecoin and Ethereum transactions range from $1-$9,000, and are available for purchase via a Pelicoin ATM.
Can I Sell My Cryptocurrency for Cash?
Yes! Pelicoin ATMs also allow you to convert your cryptocurrency back to cash. Here's how:
Tap the "Withdraw Cash" button on the start screen
Select your transaction size category
Enter your phone number and verification code
Choose which cryptocurrency you want to sell
Select the dollar amount to convert
Scan the QR code and send the exact amount of cryptocurrency
Receive a redemption code
When your cash is ready (after one blockchain confirmation), you'll get a text message
Return to the ATM, tap "Redeem," and follow the instructions to collect your cash
Ready to Start Your Cryptocurrency Journey?
If you've been wondering, “how do I buy cryptocurrency in the simplest way possible?”, Pelicoin has the answer. Pelicoin cryptocurrency ATMs are a user-friendly entry point into the world of digital assets. Buying cryptocurrency should be as simple as going to the store. No more online interactions with confusing platforms or putting your trust in outdated technology.
Find your nearest cryptocurrency ATM location and start your cryptocurrency journey today.