Buying bitcoin for the first time

[extrabyte]

it depends how you want to buy. I mean what is your alternative payment source for buying bitcoin? if you have paypal or other e-currency like payza and Perfectmoney. then it is better to buy bitcoins from individual trader on this forum. and if you want to buy bitcoin through bank account or credit card then localbitcoin is best option for it.

[n0ne]

it depends how you want to buy. I mean what is your alternative payment source for buying bitcoin? if you have paypal or other e-currency like payza and Perfectmoney. then it is better to buy bitcoins from individual trader on this forum. and if you want to buy bitcoin through bank account or credit card then localbitcoin is best option for it.

Localbitcoins.com is the best option to make a buy. It has got the very simple interface and the best access than other bitcoin exchange websites.

[bitbaby]

Could you tell us more OP, which country are you from, what payment method you're looking to buy bitcoin with, it would be easier to provide right advice if we know these details.

[aardvark15]

You can also buy from a trusted seller on Bitcointalk.org.  Just make sure that the seller has a positive trust score.  But I haven't tried this and I assume it's risky.

[Supercrypt]

it depends how you want to buy. I mean what is your alternative payment source for buying bitcoin? if you have paypal or other e-currency like payza and Perfectmoney. then it is better to buy bitcoins from individual trader on this forum. and if you want to buy bitcoin through bank account or credit card then localbitcoin is best option for it.

Localbitcoin is an option but you need to be careful with whom you deal.

You can try virwox if fees is not an issue with you.

Coinbase, Xapo, Bit-x and Gemini are some trustworthy websites.

As well and you can even try buying bitcoins from forum members in the Currency Exchange section.

[romero121]

Buying is made simple with the localbitcoins.com. It gives you detailed information about traders. You can select the trader with whom you wish to buy based on trust, Volume, access.

[traitrkng]

Avoid localbitcoin, too much % on the price BTC/USD, i think it's best (and more secure and more fast) buy on coinbase and instant transfer to another more secure wallet

[maniator]

It's best to buy it on exchange - try bitfinex.com

[yhh66]

You can try at coinbase, poloniex.

[TommyBitcoin]

For first time buyers, I would avoid any online trade.  There is so much that can go wrong.

A lot of people say to avoid localbitcoins because it is too expensive.

While I agree that you won't get the best rate, I think it is a good starting point.  The reasons include: you can meet someone in person, which, if you meet in public, and you use common sense (like dealing with an established trader), you should be ok.  Also, you may be able to find a trader who will allow for small trades.

Buying btc from an exchange can be expensive too.  Although the rates may be lower, you will probably be paying bank transfer fees that can wipe out any savings you would get. 

Most of the exchanges also require you to hand over so much personal info, that reduce the anonymity.  Some people factor that in as an "expense" not worth paying for.

I would start off with a local trade, whether it be from localbitcoins, paxful, or from someone advertising elsewhere on the web.  LBC has a good escrow so you can reduce your risk of getting scammed.  Even if you don't use escrow with a local trade, at least you can agree face-to-face that when you hand over the $, the seller is going to send it to your wallet.  Check the blockchain to see if confirmations go thru.

Deal only with reputable traders!