Thank you for all of the replies, guys.
I was looking into Kraken, but I am not very comfortable with having to give them my social security number. I will check out a few of the others mentioned.
There are several exchanges where you can get bitcoin. I use exchanges like Localbitcoin, Unocoin.
Localbitcoin is a best way to purchase and sell bitcoins i guess.
I have also kept a personal dealer in contact with me. Whenever i require small amount bitcoins, i purchase from him.
I would like to use Localbitcoin, but I am not familiar with many of the payment methods one can use; WebMoney, advcash, Payeer, and so on. I see some people except Paypal, but their prices tend to be much higher, for some reason (currently all Paypal prices (in USD) are well over $3000/BTC, aside from one guy).
Which payment method do you prefer?