Looking for a Buyer Guide on Bitcoin? Where do you think I should start? People have a lot of misconceptions about bitcoin – the first widely accepted cryptocurrency in the world.
Many people think for example that they are the only predators and dark people who use them. However bitcoin is doing well with everyone from TigerDirect to Expedia.com to Dell even Subway is receiving payments in bitcoin now.
Why are they so popular?
Well, bitcoin has more advantages than other currencies. For example, you can send bitcoins to someone for payment via the bank account (and pay extra for you). It is much faster than sending money via bank wire or transfer. You can send bitcoins to someone to receive money in seconds.
With all this, it is not surprising that many people are now trying to buy bitcoin for the first time. However, it is not as easy as going to your bank and withdrawing bitcoins – or going to the store and withdrawing your hard-earned money.
This method works differently. The Bitcoin Buying Guide goes through a number of things you need to know before you buy – to make a good and safe purchase.
First of all, even if the price may be more than $ 2000 for one coin, you should not buy the whole piece. Most sites allow you to purchase $ 20 shares. So you can start small and get there when you are comfortable with the way things are going.
Second, the issue is more than just an economic issue. Bitcoin can be dangerous and before you buy anything you should consult with your financial advisor to see if it is right for you.
Here are three easy ways to buy Bitcoins:
# 1 Get Bitcoin Wallet
The first thing to do before buying your money is to find a wallet to save your money. This wallet is a cable that people can use to send you bitcoins.
There are several types of bags including those you download to your phone or computer, online and non-compatible wallets, cold storage bags.
Most people like to have a wallet on their phone or computer. Popular wallets include Blockchain, Armory, Bitgo MyCelium and Xapo.
It is usually easier to download the wallet to your phone as an app or to download the software to your computer on the main page of the wallet.
# 2 Choose Where to Buy
There are several types of shopping and each one is different. There are online merchants who can trade bitcoins directly for you to earn money (either wire bank or credit card).
There are exchanges where you can buy and sell bitcoins from others – similar to the stock market. There are also local exchanges that connect you with vendors in your area who want to sell.
There are also ATMs where you shop with cash and get your money in your wallet in a matter of minutes.
Every bitcoin trader has its advantages and disadvantages. ATMs for example are good for privacy, but they charge you up to 20% above the current price, which is ridiculous. (At a BTC price of $ 2000, that $ 400! So you pay $ 2400 instead of $ 2000).
No matter what you choose to buy, remember to do your research and go with a reputable seller with a good reputation and a strong customer base. First-time buyers have questions and may need additional help to help them do the first step.
Take your time and explore the various places to buy before making a decision. Factors to consider include costs, fees, payment methods and customer.
# 3 Buy Bitcoin and move it to Your Wallet
When you find a place to buy, save your money (for example, you can send a phone call or use your Visa to access your account). Then wait for a better price. (Bitcoin prices are always fluctuating 24 hours, 7 days a week). Then place your order when you are ready.
Once your order is complete and you have your money, you will want to send it to your wallet. Just enter your bitcoin address and let the seller send you your bitcoins. You should see them appear in your wallet within minutes to an hour (depending on how quickly the seller sends them).
Voila, you now own bitcoin. You can now send money to pay for other items and services, or continue with it on a rainy day.
One last thing to remember: bitcoin is still in its infancy. There is a big change in price and money can be risky. Don’t buy more bitcoins than you can afford.