Are you looking for the Bitcoin Buying Guide? Wondering where to start? People have a lot of misconceptions about bitcoin – the first widely known and recognized cryptocurrency worldwide.
Many people think, for example, that only hackers and shady people use it. However, bitcoin is generally going from everyone from TigerDirect to Hotels.com to Dell and even Subway to accept payments in bitcoin now.
Why so popular?
Well, bitcoin has a lot of benefits over other currencies. For example, you can send bitcoins to someone for payment without having to go through the intermediary of the bank (and get hit with extra charges). It's also much faster than sending money through wire or wire transfer. You can send bitcoins to someone and get those who receive the money in seconds.
With all this, it is not surprising that many people now try to buy a bitcoin for the first time. However, it's not as easy to go to your bank and pull bitcoins – or go to the store and plunge down some hard money for the bitcoin.
The system works a little differently than that. This Bitcoin Buying Guide will cover some things you need to know before you buy – so you can buy safely and securely.
First of all, but the price could be over $ 2000 on us on coins, you do not have to buy all the bitcoin. Most places allow you to buy a bit of bitcoin for up to $ 20. So you can start a little and get out of here as you get used to how things work.
Secondly, this article is for general use only and is not taken as financial advice. Bitcoin can be risky and before you buy any purchase, consult your financial advisor to see if it is right for you.
So here are 3 simple steps to buy Bitcoins:
# 19459003 # 1 Get a bitcoin wallet
The first thing you need to do before But you buy your coin is to get a real wallet to store your money. This wallet is a string of text that people can use to send you bitcoins.
There are many different types of wallet including those you download to your phone or computer, online wallet and even offline, cold wallet.
Most people prefer to get wallets on your phone or computer. Popular wallets include Blockchain, Armory, Bitgo MyCelium and Xapo.
Usually it's as simple as downloading the wallet on your phone as an application or downloading the software on your computer from the main wallet.
# 2 Determine Where to Buy
There are some types of places to buy and each one is a little different. There are online dealers who want to sell you bitcoins directly for money (or bank wire or credit card).
There are exchanges where you can buy and sell bitcoins from others – a similar stock market.
There are also ATMs where you go shopping with cash and get your money delivered to your wallet in a matter of minutes.
Each bitcoin vendor has its benefit and drawback. For example, ATMs are great for privacy, but they charge you up to 20% on the current price, which is absurd. (At the BTC price of $ 2000, $ 400! So you're paying $ 2400 instead of $ 2000).
No matter where you decide to buy, you should do your research and go with a reliable seller with good reputation and strong customer service. The first buyers will especially have questions and may need extra help to help them with their first business.
Take a break and check different places to buy before deciding. Factors that need to be considered include the price of money, additional costs, payment methods and customer service.
# 3 Buy a bitcoin and take your wallet
Once you've found a place to buy, get your money ready (ie you can send a transfer or Use Visa to fund your account). Then wait for a good price. (Bitcoin price is always swinging 24 hours, 7 days a week). Then place your order when you are ready.
When your order is filled and you have a coin, send it to your wallet. Simply enter your bitcoin address and get a seller to send you your bitcoin. You should see them appear in your wallet within a few hours an hour (depending on how fast the seller sends them out).
Voila, you are now a bitcoin owner. You can now send coins to pay for other goods and services, or hang them up for a rainy day.
One last thing to remember: bitcoin is still in birth. There are high price fluctuations and the currency can be risky. Never buy more bitcoins than you can afford to lose.
Source by Eric Summers