Looking for a Bitcoin purchase guide? Wonder where to start? People have many misunderstandings about Bitcoin – Cryptocurrency which is very famous and accepted throughout the world.
Many people think for example that only hackers and shade people use it. But Bitcoin will actually be mainstream with everyone from Tigerdirect to Expedia to Dell and even Subway receives payments in Bitcoin now.
Why is it so popular?
Well, Bitcoin has many benefits to other currencies. For example, you can send Bitcoin to someone as payment without having to go through the bank intermediary (and get hit at an additional cost). It’s also much faster than sending money through cables or bank transfers. You can send Bitcoin to someone and ask them to accept coins in seconds.
With all this, it is not surprising that many people are now trying to buy Bitcoin for the first time. But it’s not as easy as going to your bank and pulling Bitcoin – or go to the store and trace some of the cash obtained with difficulty for Bitcoin.
The system works a little different from that. This Bitcoin purchase guide will discuss some of the things you need to know before buying – so you can buy safely and securely.
First of all, while prices may be more than $ 2000 we per coin, you don’t need to buy all Bitcoin. Most places will let you buy the Bitcoin portion with only $ 20. So you can start small and leave there because you become more comfortable with things working.
Second, this article is only for general purposes and should not be considered financial advice. Bitcoin can be at risk and before making a purchase you should consult with your financial advisor to see if it’s right for you.
So here’s 3 easy steps to buy Bitcoin:
# 1 Get a Bitcoin wallet
The first thing to do before buying your coin is to get a virtual wallet to save your coin. This wallet is a series of text that can be used to send you Bitcoin.
There are a number of different types of wallets including what you download to your cellphone or computer, wallets online, and even offline, cold storage wallets.
Most people prefer to get wallets on their cellphones or computers. Popular wallets include Blockchain, Armory, Bitgo Miselium and Xapo.
It is usually as simple as downloading the wallet to your mobile as an application or downloading the software to your computer from the Wallet’s main website.
# 2 Decide where to buy
There are several types of places to buy and each is a little different. There is an online seller that will sell Bitcoin to you directly for cash (or bank wire or credit card).
There is an exchange where you can buy and sell Bitcoin from other people – similar to the stock market. There are also local exchanges that connect you with sellers in your area to be sold.
There is also an ATM where you go to buy with cash and get your coins sent to your wallet in minutes.
Every Bitcoin seller has their benefits and weaknesses. For example the ATM is very good for privacy, but they will charge you up to 20% above the current price, which is ridiculous. (With the price of BTC $ 2000, $ 400! So you pay $ 2400 instead of $ 2000).
Wherever you decide to buy, remember to do research and go with a trusted seller with a good reputation and strong customer service. The first buyer will have questions and may require extra support to help them with their first transaction.
Take your time and thorough different places to buy before you decide. The factors that need to be considered include coin prices, additional costs, payment methods and customer service.
# 3 Buy Bitcoin and move it to your wallet
After you find a place to buy, prepare your funds (eg you can send wire transfers or use your visa to fund your account). Then wait for a good price. (Bitcoin prices always fluctuate 24 hours, 7 days a week). Then make an order when you are ready.