Looking for a Bitcoin Buyer Guide? Wondering where to start? People have many misconceptions about bitcoin – the world’s first known and accepted cryptocurrency.
For example, many people think that it is used only by hackers and shadowy people. However, bitcoin continues on the main road with everyone who accepts bitcoin payments from TigerDirect to Expedia.com, Dell and even Metro.
Why is it so popular?
Bitcoin has many benefits over other currencies. For example, you can send bitcoins as a payment to someone without going through a bank intermediary (and without being charged extra). It is also faster than sending money to a bank in cash or by transfer. You can send bitcoins to someone and get them in seconds.
With all this, it is not surprising that many people are now trying to buy bitcoin for the first time. However, it’s not as easy as going to your bank and withdrawing bitcoins – or going to a store and knocking down the cash you earn a lot for bitcoin.
The system works a little differently. This Bitcoin Buying Training will cover some things you need to know before making a purchase – so you can buy it safely and securely.
First of all, even if the price is more than $ 2,000 per coin, you don’t have to buy a bitcoin at all. Most places allow you to buy a bitcoin for $ 20. So as you get more comfortable with work, you can start small and go from there.
Second, this article is for general purposes only and should not be construed as financial advice. Bitcoin can be risky and you should consult with your financial advisor to see if it is right for you before making any purchases.
So, 3 easy steps to get Bitcoins:
Get the # 1 Bitcoin Wallet
The first thing you should do before buying your coins is to get a virtual wallet to save your money. This wallet is a text line that people can use to send bitcoin.
There are a number of different types of wallets that you can download to your phone or computer, online wallets, and even offline, cold storage wallets.
Most people prefer to have a wallet on their phone or computer. Popular wallets include Blockchain, Armory, Bitgo MyCelium and Xapo.
It’s usually as simple as downloading a wallet as a program to your phone or downloading software from your wallet’s main website to your computer.
# 2 Decide where to get it
There are several types of places to buy and each is a little different. There are online sellers who will sell you bitcoins directly for cash (or bank money or credit card).
There are exchanges where you can buy and sell bitcoin from others – it’s like an exchange market. There are also local stock exchanges that connect you to sellers in your area who want to sell.
There are also ATMs where you go shopping for cash and deliver your coins to your wallet in minutes.
Every Bitcoin seller has advantages and disadvantages. For example, ATMs are great for privacy, but will charge up to 20% of the current price, which is ridiculous. (BTC costs $ 400, which is $ 2,000! So you will pay $ 2,400 instead of $ 2,000).
No matter where you decide to buy, remember to do your research and go with a reputable seller with a good reputation and strong customer service. First-time buyers will have particular questions and may need additional support to help with their first transaction.
Take your time and research different places to buy before making a decision. Notable factors include coin prices, surcharges, payment methods, and customer service.
# 3 Buy Bitcoin and transfer it to your wallet
Once you find a place to buy, prepare your funds (ie you can send a money transfer or use Visa to fund your account). Then wait for a good price. (Bitcoin prices always fluctuate 24 hours a day, 7 days a week). Then place your order when you are ready.
Once your order is complete and you receive your money, you will want to send them to your wallet. Enter your Bitcoin address and make sure the seller sends your bitcoins. You should see them appear in your wallet in a few minutes to an hour (depending on how fast the seller sends them).
Voila, you now own a bitcoin. You can now send coins to pay for other goods and services or hang them for a rainy day.
One last thing to remember: bitcoin is still in its infancy. There is a very large price change and the currency can be risky. Don’t buy more bitcoin than you can ever lose.