Nahomat Suno Others Bitcoin Buying Guide – Easy 3-Step Guide to purchasing Your First Bitcoin

Bitcoin Buying Guide – Easy 3-Step Guide to purchasing Your First Bitcoin

Looking for a Bitcoin Buying Guide? Wondering the place to start? People have many misconceptions about bitcoin – the 1st widely known and accepted cryptocurrency worldwide.

Many people think for example that only hackers and shady people utilize it. However bitcoin is in fact going mainstream with everyone from TigerDirect to to Dell and also Subway accepting payments in bitcoin now.

Why so popular?

Well, bitcoin has a large amount of benefits over other currencies. For example, it is possible to send bitcoins to someone as payment without having to go through the bank middleman (and get hit with extra fees). It’s also much faster than sending money with a bank wire or transfer. It is possible to send bitcoins to someone and also have them receiving the coins in seconds.

With all of this, it’s no surprise that many people are now trying to buy bitcoin for the first time. However Wasabi Wallet ‘s not as easy as likely to your bank and withdrawing bitcoins – or likely to a store and plunking down some hard-earned cash for bitcoin.

The system works a bit differently than that. This Bitcoin Buying Guide will review a couple of things you need to know before you buy – to help you buy safely and securely.

First of all, as the price might be over $2000 us per coin, you don’t need to buy a whole bitcoin. Most places will let you buy portions of a bitcoin for as little as $20. To help you start off small and go from there as you get more comfortable with the way things work.

Secondly, this short article is for general purposes only and not to be studied as financial advice. Bitcoin can be risky and prior to making any purchase you need to consult with your financial advisor to see if it’s right for you.

So here are 3 easy steps to buying Bitcoins:

#1 Get yourself a Bitcoin Wallet

The first thing to accomplish before you buy your coins would be to get yourself a virtual wallet to store your coins. This wallet is a string of text that folks may use to send you bitcoins.

There are a variety of different types of wallets including ones you download to your phone or computer, online wallets and also offline, cold storage wallets.

Most people would rather get a wallet on the phone or computer. Popular wallets include Blockchain, Armory, Bitgo MyCelium and Xapo.

Usually it’s as simple as downloading the wallet to your phone as an app or downloading the program to your personal computer from the wallet’s main website.

#2 Decide Where you can Buy

There are several types of places to get and each is a bit different. There are online sellers which will sell you bitcoins directly for cash (or bank wire or charge card).

There are exchanges where one can buy and sell bitcoins from others – similar to a stock market. Additionally, there are local exchanges that link you up with sellers in your area looking to sell.

There are also ATMs where you go to purchase with cash and get your coins sent to your wallet in minutes.

Each bitcoin seller has their positives and negatives. For example ATMs are excellent for privacy, but they’ll charge you up to 20% on top of the current price, which is ridiculous. (On a BTC price of $2000, that $400! So you’re paying $2400 rather than $2000).

No matter where you choose to buy, remember to do your research and go with a reliable seller with an excellent reputation and strong customer service. First time buyers will especially have questions and could need the excess support to greatly help them making use of their first transaction.

Take your time and research the different places to get before you decide. Things to consider include coin prices, extra fees, method of payment and customer service.

#3 Buy Bitcoin and Move It To Your Wallet

Once you’ve found a place to get, get your funds ready (i.e. you might send a wire transfer or use your Visa to fund your account). Then await a good price. (Bitcoin prices are always fluctuating a day, 7 days weekly). Then place your order as you prepare.

Once your order is filled and you also have your coins, you need to send them to your wallet. Simply enter your bitcoin address and get the seller to send you your bitcoins. You should see them show up in your wallet within minutes to one hour (based on how fast owner sends them out).

Voila, you’re now a bitcoin owner. Now you can send coins to pay for other goods and services, or hold on in their mind for a rainy day.

One last thing to remember: bitcoin is still in its infancy. You can find huge price swings and the currency can be risky. Never buy more bitcoins than you can afford to lose.

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