Bitcoin Buying Guide – An easy 3-step guide to buying your first bitcoin

Looking for a Bitcoin buying guide? Wondering where to start? People have a lot of misconceptions about bitcoin, the first widely known cryptocurrency in the world.

Many people think, for example, that it is used only by hackers and shadow people. However, bitcoin is actually passed on to everyone from TigerDirect to Expedia.com to Dell and even Subway, who now accept bitcoin payments.

Why so famous?

Well, bitcoin has many advantages over other currencies. For example, you can send bitcoins to someone as a payment without going through a bank broker (դեպքում if you receive additional payments). It is also much faster than sending money by bank wire or transfer. You can send bitcoins to someone և get them to get coins in seconds.

However, it is not surprising that many are now trying to buy bitcoin for the first time. However, it is not as easy as going to your bank, withdrawing bitcoins, or going to the store, taking hard-earned cash for bitcoins.

The system works a little differently. This Bitcoin buying guide will introduce you to a few things you need to know before you buy to be able to buy safely.

First of all, even if the price of one coin can exceed $ 2000, you do not need to buy the whole bitcoin. Most sites will allow you to buy bitcoin for $ 20. So you can start from scratch, because you feel more comfortable working things.

Second, this article is for general purposes only and should not be construed as financial advice. Bitcoin can be risky, so before making a purchase, you should consult with your financial advisor to find out if it is right for you.

So, here are 3 easy steps to buying bitcoins.

# 1 Get a Bitcoin wallet

The first thing to do before buying your coins is to get a virtual wallet to store your coins. This wallet is a string of text that people can use to send you bitcoins.

There are many different types of wallets, including the ones you download to your phone or computer, online wallets, and even offline, cold storage wallets.

Most people prefer to get a wallet over their phone or computer. Popular wallets include Blockchain, Armory, Bitgo MyCelium և Xapo.

This is usually as simple as downloading a wallet to your phone as an application or downloading software to your computer from the wallet’s main site.

# 2 Decide where to buy

There are several types of shopping, and each one is a little different. There are online merchants who will sell you bitcoins directly for cash (either by bank wire or credit card).

There are exchanges where you can buy or sell bitcoins from others, like the stock market. There are also local exchanges that connect you with sellers in your area who want to sell.

There are also ATMs where you go shopping for cash, your coins are delivered to your wallet in minutes.

Every bitcoin trader has his advantages and disadvantages. ATMs, for example, are great for privacy, but they will charge you up to 20% of the current price, which is ridiculous. (That $ 400 for BTC $ 2,000. So you pay $ 2400 instead of $ 2000).

No matter where you decide to buy, remember to do your research և go with a reputable seller who has a good reputation և strong customer service. First time buyers will especially have questions: may need additional support to assist them in their first transaction.

Take your time և Explore different places to buy before making a decision. Factors to consider include coin prices, surcharges, payment methods և customer service.

# 3 Buy Bitcoin և Transfer it to your wallet

When you make a purchase, find a way to prepare your funds (that is, you can transfer money or use your Visa to fund your account). Then wait for the good price. (Bitcoin prices always fluctuate 24 hours a day, 7 days a week). Then order when you are ready.

Once your order is completed, you have your coins, you will want to send them to your wallet. Just enter your bitcoin address և ask the seller to send you your bitcoins. You should see them appear in your wallet in minutes to an hour (depending on how fast the seller sends them).

Voila, you now own bitcoin. You can now send coins to pay for other goods և services, or hang them for a rainy day.

The last thing to remember is that bitcoin is still in its infancy. There are huge price fluctuations, և currency can be risky. Never buy more bitcoins than you can afford to lose.