Skip to main content

How to Buy Bitcoins

Everyone is curious as to what bitcoin is and how one gets to earn it and spend it. Bitcoin is the most famous and biggest digital currency in the world regarding market capitalization and the market share where there are no intermediaries to handle the transactions. Microsoft Co-founder, Bill Gates has a lot of faith in Bitcoin to the point of saying, "Bitcoin is a technological tour de force."

According to Leon Louw, a Nobel Peace Prize nominee, every informed person needs to know at least about bitcoin since it has the potential to become one of the world's most significant developments.

One can buy bitcoins directly from other bitcoin users via marketplaces or through exchanges, and one pays for them through hard cash, credit or debit cards, electronic wire transfers, other cryptocurrencies, PayPal, et al.

How Then Can One Buy Bitcoins?

Get a Bitcoin Wallet

This is the very first step when buying bitcoins since you will require a place to store, receive, and send your bitcoins. Different bitcoin wallets provide varying levels of security, and you can choose the security level that works best for your transactions. The most popular wallet options are

• A wallet software stored on the hard drive of your computer

• A web-based service that is an online wallet

• A multisig wallet that incorporates the use of many different keys to protect the account and keeps your bitcoins safe and offline

The next step is to fund your Bitcoin wallet and start placing orders.

Where to Buy Bitcoins

• Localbitcoins: - This is the primary site for arranging face-to-face transactions and prices negotiated. Its escrow service has made the site popular since it adds an added layer of protection for the buyer and the seller with a trust score of A. you can pay for bitcoins via PayPal, cash, or bank transfers.

• Coinbase: - This is another of the popular bitcoin wallets with one of the simplest ways of buying bitcoin. Upon sign up, one gets a $5 bonus. It has a trust score of A+. Use your card or bank transfers to buy bitcoins.

• Wesellcrypto: - This site ranks high, and it is beginner friendly. It has a trust rating of B+, and you can buy bitcoins via your PayPal account.

• Bitquick: - This site is also beginner friendly allowing users to buy and accept payments for bitcoins via hard currency as well as bank transfers. It has a trust rating of B.

With bitcoins, you can anonymously buy merchandise; make cheaper international payments since the Bitcoins are not subject to regulation from any country. The bitcoin market is very volatile and more people are buying them hoping to make a profit when the price goes up.




Source by Borgbau Baus

Popular posts from this blog

Commoditizing the world

Let's discuss commodities; With the latest Enron situation, it is important to understand the way things work. A commodity is anything useful, especially a transportable agricultural product or mining product. This comes from the Latin word "commoditas" meaning roughly advantage, convenience. So then what is a commodity? Well we consider Gold, Silver, wheat, corn, pork bellies, coffee, etc all commodities. If you look in the back of the WSJ or Investors Business Daily you will see a listing of all the commodities traded on the commodities exchange. Enron made some errors no doubt, but let's not judge all commodity markets in haste. Commodity trading works best when there is a stable instrument of trade. Sometimes the instrument of trade is actually the commodity. If you looked most countries of the world today you would find that there are three basic instruments of trade; money, as in currency, precious metals and gems, drugs; like cocaine, opium, and

6 Incredible Benefits Of the Cryptocurrency

Over the past few years, people have been talking a lot about cryptocurrency. At first, this business sounded scary but people started developing trust in it. You may have heard of Ether and Bitcoin. They both are crypto currencies and use the Blockchain Technology for highest security possible. Nowadays, these currencies are available in several types. Let's know more about it. How Can cryptocurrency help you? As far as fraud is concerned, this type of currency can't be faked as it's in digital form and can't be reversed or counterfeited unlike the credit cards. Immediate settlement Buying real property involves third parties, such as lawyers and notary. So, delays can occur and extra costs may incur. On the other hand, Bitcoin contracts are designed and enforced in order to include or exclude third parties. The transactions are quick and settlements can be made instantly. Lower fees Typically, there is no transaction fee if you want to exchange Bitcoin or any other cu

Combining Forex Trading With Gold Trading

Combining forex trading with gold trading can be highly lucrative. If you have been following gold prices, you must know that gold prices have reached their historical peak in the recent times. Gold prices recently broke the historical barrier of $ 1,000 per ounce and now hovering around $ 1,150 per ounce. Market is anticipating a US Dollar depreciation. Whenever, the markets become jittery, investors start buying gold as a hedge against the US Dollar. Last year, after the stock market crash, many investors started investing in gold as a safe haven against the turmoil in the financial markets. Gold and US Dollar have an inverse correlation relationship. Gold and US Dollar are almost near perfect mirror image of each other. US Dollar depreciation during the global financial uncertainty has been the primary reason for the gold appreciation as it is viewed as the ultimate form of money. Gold is also seen as the primary safe haven commodity. Countries like China, Russia and I