How To Buy Bitcoin
Are you looking for a bitcoin buying guide? Wonder no more and follow the below mentioned steps for buying bitcoin.
The first thing you have to do before buying coins is to obtain a virtual wallet in order to stock your coins. This wallet will function as a string of text which people can utilize to transfer you bitcoins. You can opt for both online wallets and offline wallets as per your preference. You can easily get a wallet on your PC or mobile phone. To get started with it, it is as convenient as downloading the app on your smartphone or the software to your PC for the official website of the wallet.
Before wondering how to buy bitcoin, you need to determine where to buy bitcoin. You have different types of options when deciding on a place to buy bitcoin. You will find online sellers from whom you can directly purchase bitcoin by paying in cash or through your credit card. On the other hand, you can choose to go for bitcoin exchange, such as bittrex.com, where bitcoin is traded among other currencies. This works similar to the functionality of a stock market, where one can buy and sell bitcoin or other currency from each other. You can use coinbase.com to both buy and store bitcoin under secured channels.
Before buying bitcoin from any seller, you have to consider the coin prices, the method of payment, additional fees and of course, the customer service you are being offered. As a first time buyer, you might questions for which customer service can go a long way to get through with the initial transaction.
Once you have decided on a place to buy bitcoin, it’s time to get the funds ready. You can pay via bank wire transfer or you can fund your account using Visa card. As bitcoin prices keep fluctuating 24/7, you must wait and keep an eye on price alerts for securing a good price. Place your bitcoin order when you are ready to invest in the quoted price. Once the order is processed, you will then need to send the coins to your wallet. For this, you will need to provide your bitcoin address and the seller will send the purchased bitcoins. Your wallet will be synchronised shortly after the seller transfers it. Now you are ready to make your preferable purchase with bitcoin or hang around for an economical deal!