Finance

Here’s how to get started with Bitcoin

Anyone who has been reading the news must have heard of crypto currencies and how Bitcoin has surged in value over the last few years. For someone who wishes to invest, it is needless to say that Bitcoin must have gotten him/her quite interested. You have done your research on Bitcoin and are now ready to buy it. But how to buy and use bitcoin remains unanswered. Well, if you have been wondering how you can buy Bitcoins then be assured that is isn’t some rocket science.  People often wonder how and where can I buy bitcoins but upon experiencing it once, they realize how simple and quick it can be.

One of the foremost steps is to create a digital wallet. This digital wallet is where the bitcoins you have purchased will be sold. The nature of this digital wallet can greatly vary. It can be an online wallet, a mobile wallet, an offline wallet or a desktop wallet. Within each step of the wallet too, there are a large number of varieties to choose from to finalise on which version of what wallet is best for you.

 where can I buy bitcoins

Next important step is to finalise an exchange and open an account with it.  It is these crypto currency exchange based markets that will do the buying and selling of bitcoins for you. Each day there are quite a few crypto exchanges that keep coming up while some shut down too. Hence it is extremely important that you open the account with the right exchange and complete the KYC process. Some of the most popular crypto currency exchanges include coinbase, primecrypto, bitstamp, Poloniex. These witness high volumes of trading so there is ample amount of liquidity in case you wish to buy and sell in large quantities too. Even if your trading volume is small, these exchanges should serve your purpose just fine.

Making the payment is a key step since it is something you have to be cautious and watchful about. Bank transfers and credit cards work fine for paying money to purchase bitcoins. In some cases, Paypal money too can be used to purchase Bitcoin, although through an indirect route. Purchasing bitcoin is a simple process but the payments and transfers can be time taking at times, so you need to be patient in case of any delays. Most exchanges have their own customer support service so you can be assured of timely assistance.

So now that you are aware of how to buy and use bitcoin it is time for you to spread the word to your friends and family who might be interested in it. Once you are into bitcoin trading, help them answer the question where can I buy bitcoins through your own experience and guidance.

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