These days, buying Bitcoins is as easy as buying a pair of jeans online. Cash in your credit card is all you need to make a purchase. Sometimes, however, the Bitcoin buying process can be frustrating than it appears. The chances of sending your cash to a scammer are high and getting accepted to trade in some countries is a lengthy process.

The fastest way to buy Bitcoins only asks for three requirements:

  • An account on an exchange that accepts cash or any quick money payment method
  • A Bitcoin wallet to secure your funds after purchasing them
  • Cash

There are more than five ways to buy Bitcoins. Some of them will help you buy Bitcoins instantly while with some methods will demand you wait for a week. With payment methods like PayPal, your trading partner could ask for a chargeback, and you could lose your Bitcoins. Wire transfers take longer to complete, but there is a low chance the transaction could be reversed.

Ways to buy Bitcoins based on Speed

Looking down at a man working on his laptop

1. Cash

Cash is one of the easiest Bitcoin payment methods. All you need is a trusted person with Bitcoins and your personal wallet. You can then meet up and initiate the trade. When trading, ensure you get Bitcoins worth your money and close the deal. No identification is needed. No hassles and long wait up periods. Cash is also considered a hard payment method, meaning the transaction cannot be reversed as long as you get your hands on the cash.


  • Quick and hassle free
  • Best payment method when dealing with close friends
  • Not possible to reverse the transaction


  • Inconvenient payment method when dealing with traders not physically close to you
  • Impossible to use cash when trading high amounts of Bitcoins
  • Possibility of dealing with criminals

2. Credit Cards

Using credit cards is the most common way to buy Bitcoins online despite the fact that credit card transactions can easily be charged back. Credit cards are common because Bitcoin trading websites deposit purchased Bitcoins in an online wallet they provide. If you claim bank your cash, they will easily take back their Bitcoins or show proof they delivered the services. You can purchase Bitcoins using your credit card in any of the following top exchanges:

Exchange Fee Type of Exchange 1% P2P
Coinmama 5% Regular
BitPanda 3% Regular
Coinbase 3.99% Regular 3.5% Regular

Pros of Credit Cards

  • Supported by multiple exchanges
  • It takes 1-2 days to receive Bitcoins
  • Easy to reverse a transaction


  • The fees can be as high as 10%
  • Often associated with low buying limits

3. Wire Transfers

Bank wire transfer is the preferred payment method for investors who want to purchase high amounts of Bitcoins. Trading platforms also love wire transfers because they are difficult to reverse. They take up to 5 business days to complete, but once done the chances of reversing the transaction are near zero. People in the Euro Zone can use SEPA to make a wire transfer with zero transaction fees.


  • Accepted by multiple cryptocurrency exchanges
  • Convenient when buying high amounts of Bitcoins


  • Slow payment method
  • Inconvenient when you need Bitcoins fast

4. Lava Pay

LavaPay is a UK-based startup that provides an electronic wallet that can be funded using real cash or Bitcoins. It’s a payment method supported by some of the top cryptocurrency exchanges, including Livecoin, Exmo, and BitPort. Creating a LavaPay account using any of the following payment methods is easy:

  • Wire transfers
  • Cryptocurrencies like Ethereum
  • Debit cards
  • Swift payment transfers

The payment method accepts 19 major currencies, including USD, Japanese Yen, and Russian rubles. The benefit of LavaPay is that it’s easily accepted by many merchants and converting between real cash and cryptocurrencies is painless.


  • Supports 19 currencies in the Americas, Europe, and Asia
  • Accepted as a payment method in more than 50 major merchants
  • Fast


  • No chargebacks when buying Bitcoins
  • The fees can be high

5. Perfect Money

This payment method works more or less in the same way as LavaPay. You create a free account and fund it using your credit card, SEPA or normal bank transfer. PayPal, Payeer, and OkPay are among other payment methods accepted to fund your account. You can then use your funds in Perfect money to purchase Bitcoins in an exchange that accept the payment method.

Perfect Money enforces anti-money laundering rules and, therefore, it may take several days to fund your account. But once done, you can purchase Bitcoins or other cryptocurrencies easily.


  • Accepted payment method by multiple exchanges
  • Fast
  • Can help buy multiple cryptocurrencies
  • Accepted as a payment method by top merchants


  • No chargebacks
  • Not accepted by many trading platforms

6. PayPal (Bonus)

There is hardly any cryptocurrency exchange that will allow you to purchase Bitcoins using PayPal. Asking for a chargeback is dead easy, and this makes it possible to be misused by scammers as well. However, there are several ways you can use your PayPal funds to buy Bitcoins fast and easy. Here are some of these ways:

  • Look for a Bitcoin seller who will accept PayPal as a payment method on the exchange is a P2P network, and you deal with Bitcoin owners directly.
  • Send your PayPal funds to PerfectMoney, LavaPay, BitcoinPay or OkPay- these methods are generally accepted on Bitcoin exchanges because they do not enable chargebacks
  • Buy Bitcoins directly on Virwox- an exchange that has been in operation since 2007
  • Buy Bitcoins on PaxFul, another P2P exchange that accepts Bitcoins

Pros of using PayPal

  • Fast payment method where accepted
  • Easy to ask for a chargeback in case of meeting a scammer
  • Easy to connect to other payment methods more accepted when buying Bitcoins


  • Generally not accepted by top exchanges
  • Funding other accounts before buying Bitcoins adds up your fees


There are a plethora of payment methods accepted when buying Bitcoins on different exchanges. Using credit card is, however, the most convenient payment method when purchasing a decent amount of Bitcoins in popular exchanges.

If you want to invest hugely in Bitcoins, wire transfer will likely be your ideal payment method. Whichever the case, ensure you have a secure, personal wallet and that you review any cryptocurrency exchange before trading coins with them.

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