The process of buying crypto, from choosing a platform and your payment method to receiving the tokens in your wallet can range from a few minutes to several hours. But of course, speed is a determining factor when choosing where to make transactions, so if you’re keen to know what is the fastest way to buy Bitcoin (BTC) and other crypto, this article is for you.
7 Factors That May Affect the Speed of Buying Crypto
Before anything else, let’s flesh out the main factors influencing the speed of buying crypto:
1. The Platform
The platform you choose plays a significant role in how quickly you can buy small amounts of BTC or other rypto. Some crypto exchanges and payment platforms, such as Ka.app, offer various features and payment methods that can expedite the buying process—sometimes as fast as under a minute. Crypto automated teller machines (ATMs) also have quick purchase options, although the speed may still vary depending on the provider’s responsiveness and the machine's availability.
2. Your Payment Method
Each payment method that a platform offers has their own turnaround/processing times. Credit and debit cards, for instance, process transactions almost instantly, while, bank transfers, especially international ones, can take anywhere from a few hours to several days to complete.
3. Transaction Volume
High transaction volumes on a platform can affect the speed of processing your purchase. During peak times, such as market booms or significant news events, platforms might experience slowdowns due to increased user activity. Choosing a platform known for handling high volumes efficiently can mitigate this concern.
4. Network Congestion
Some payment methods, particularly those involving blockchain transactions, can be affected by network congestion. BTC and Ethereum (ETH), for instance, can experience slower transaction times during periods of high demand. It’s good to know though that some platforms offer the option to pay higher transaction fees to prioritize your transaction and speed up the process.
5. Account Verification
Most reputable platforms require Know Your Customer (KYC) checks to comply with regulatory standards. This process usually involves submitting a photo ID and proof of address. While some platforms offer instant verification, others might take a few hours to a few days. Completing this step early can save you time when you’re ready to buy.
6. The User Interface
Platforms with intuitive, intuitive interfaces can make the buying process quicker and much more simple. Features like instant buy options and clear, concise instructions can save you time.
7. Location and Regional Restrictions
Your geographic location can impact the speed of buying crypto. In some regions, clear and supportive regulations enable quick and seamless crypto purchases. On the other hand, areas with stricter rules or even outright bans may require additional verification steps, which can slow down the buying process as well.
So What Is the Fastest Way to Buy BTC and Other Crypto?
With lots of platforms and payment methods to choose from, the truth is, it’s hard to tell which exactly is the fastest way to buy crypto or specifically, buy BTC with EUR. What we can do though is provide you several options through Ka.app.
Ka.app allows you to buy crypto with card, buy crypto with IBAN (by depositing euros into the app from your IBAN account then converting them into crypto), and buy crypto with wire transfer. With a card, it can take five minutes or less, with IBAN a day or more, while with a wire transfer, it can take as fast as two minutes only.
Final Thoughts
The speed at which you can buy crypto can range from a few minutes to days. This depends on various factors, with the right platform and payment method being the most crucial parts. However, it’s good to note that deciding what payment method or platform to use shouldn’t just depend on speed, but other considerations as well, such as security, reliability, and customer support.
Disclaimer: This article was written for educational purposes only and should not be taken as financial, investment, or legal advice. Buying crypto carries considerable risks due to market volatility, including the possible loss of your funds. Please conduct research, evaluate your financial circumstances, and understand your risk tolerance before making any investment decisions.
FAQs
How fast can I buy BTC?
As mentioned above, how fast you can buy BTC depends on several factors, including the platform you use, the payment method you choose, and more. Generally, if you use a credit or debit card on a crypto platform, you can complete your purchase almost instantly. On the other hand, if you opt for bank transfers, the process can take anywhere from a few hours to several days, depending on your bank and the type of transfer.
What is the fastest way to withdraw BTC?
One of the fastest ways to withdraw BTC is to convert your coins to EUR on Ka.app and then cash out funds using the Ka. Debit Card.
Can I buy BTC instantly with my bank account?
Buying BTC instantly with your bank account is possible, but it depends on the bank and the platform you are using. On Ka.app, buying crypto with IBAN may range from a day to three days.
