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Bitcoin Buying Guide - Easy Step Guide

 

Buying a Bitcoin Buying Guide? Wondering where to start? Folks have a lot of misconceptions about bitcoin - the 1st widely known and accepted cryptocurrency worldwide.

Plenty of people think for example that only hackers and shady people use it. However bitcoin is actually going mainstream with everyone from TigerDirect to Dell and even Subway accepting payments in bitcoin now.

Why so popular?

Well, bitcoin has a lot of benefits over other currencies. Like, you can send bitcoins to someone as payment without having to have the bank middleman (and get hit with extra fees). It's also considerably faster than sending money using a bank wire or transfer. You can send bitcoins to someone and keep these things receiving the coins in seconds.

With all this, it's no surprise that lots of people are now trying to buy bitcoin for the very first time. However it's never as easy as going to your bank and withdrawing bitcoins - or likely to a shop and plunking down some hard-earned cash for bitcoin.

The machine works somewhat differently than that. This Bitcoin Buying Guide should go over a couple of things you have to know before you decide - so you should buy safely and securely.

To start with, while the purchase price might be over  us per coin, you don't have to buy a whole bitcoin. Most places allow you to buy portions of a bitcoin for as little as So you can begin off small and go from there as you get more more comfortable with just how things work.

Secondly, this information is for general purposes only and never to be studied as financial advice. Bitcoin could be risky and prior to making any purchase you must consult with your financial advisor to see if it's right for you.

So listed here are 3 easy steps to purchasing Bitcoins:

The very first thing to do before you buy your coins is to acquire a virtual wallet to store your coins. This wallet is a chain of text that people may use to give you bitcoins.

You can find a number of different types of wallets including ones you download to your phone or computer, online wallets and even offline, cold storage wallets.

Most people prefer to acquire a wallet on their 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 computer from the wallet's main website.

There are numerous forms of places to buy and every   Bitcoin Machine Near Me  one is a bit different. There are online sellers that will sell you bitcoins directly for money (or bank wire or credit card).

There are exchanges where you could buy and sell bitcoins from others - similar to a stock market. Additionally, there are local exchanges that link you up with sellers in your town seeking to sell. Additionally there are ATMs where you go to buy with cash and get your coins delivered to your wallet in minutes.

Each bitcoin seller has their benefits and drawbacks. As an example ATMs are great for privacy, but they'll charge you up to 20% on the surface of the current price, which is ridiculous. ! So you're paying.

Wherever you decide to buy, remember to complete your research and choose a respected seller with a great reputation and strong customer service. First time buyers will especially have questions and may need the additional support to simply help them with their first transaction. Spend some time and research different places to purchase when you decide. Factors to take into account include coin prices, extra fees, method of payment and customer service.

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