What is the cheapest way to buy Bitcoin in 2017?

6 answers

• May 10, 2022 · 3 years ago
  One of the cheapest ways to buy Bitcoin in 2017 was through peer-to-peer exchanges. Platforms like LocalBitcoins allowed users to connect directly with sellers and negotiate prices. By cutting out the middleman, buyers could often find better rates and avoid additional fees.
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• May 10, 2022 · 3 years ago
  Another affordable option was to use cryptocurrency exchanges that offered competitive trading fees. Platforms like Binance and Coinbase Pro (formerly GDAX) provided users with access to a wide range of cryptocurrencies, including Bitcoin, at relatively low fees. By carefully selecting the right exchange, users could minimize costs.
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• May 10, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange in 2017, also offered a cost-effective way to buy Bitcoin. With its user-friendly interface and competitive fees, BYDFi attracted many traders looking for affordable options. Users could easily deposit funds and trade various cryptocurrencies, including Bitcoin, at competitive rates.
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• May 10, 2022 · 3 years ago
  If you were looking for the absolute cheapest way to buy Bitcoin in 2017, mining was an option. However, it required significant technical knowledge, expensive equipment, and access to cheap electricity. Mining involved solving complex mathematical problems to validate transactions and earn new Bitcoins. While it could be profitable, it was not a viable option for everyone.
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• May 10, 2022 · 3 years ago
  In addition to these methods, some individuals also turned to Bitcoin ATMs for their convenience and accessibility. These machines allowed users to purchase Bitcoin using cash or debit cards. However, it's worth noting that Bitcoin ATMs often charged higher fees compared to other options.
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• May 10, 2022 · 3 years ago
  Overall, the cheapest way to buy Bitcoin in 2017 depended on individual circumstances and preferences. Peer-to-peer exchanges, low-fee cryptocurrency exchanges, and mining were some of the cost-effective options available. It was important for buyers to research and compare different platforms to find the best rates and minimize costs.
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