Bitcoin has really made online transaction easy and drama free. Bitcoin is now accepted as a form of payment by most of the people who do business on-line. All you need to do is send Bitcoin to the seller, and you will receive your item. Bitcoin is software that allows people to make an online exchange. The number of Bitcoin I circulation is 21 million. This is ahuge number compared to the first-time Bitcoin was introduced to the market. The tricky part is How Can I Buy Bitcoin. If you are a new to Bitcoin, you might get a few challenges, but you will make in the end. First thing you need to understand that all this is virtual, do not expect to keep your Bitcoin in your shoebox or safe in the house. Bitcoin is used on the Internet only and not any other place.

Ensure the Wallet Is Safe

What you need is to get yourself a virtual wallet. Like the real-world wallet, this is where data about your Bitcoin is stored. You can store the data on your computer using Bitcoin client software or find an online wallet. You need to ensure that wherever your virtual wallet is, it must be a safe place or else hackers will get access and wipe out your account.

There are two main ways, which you can use to buy Bitcoin. The first one is through online banking or cash deposit with an Exchange Company. This is a good way to purchase your first Bitcoin but there are people who do not want information traced back to your bank account. The second way is through a Bitcoin broker. You can find various brokers online and others you can meet face to face. Once you have transferred funds to the broker. You should receive Bitcoin in your wallet.

Tags: , ,
Author's gravatar

Crypto is cool, I believe in its bright future, however it could be daunting trying to figure out how the whole buying process works. For me so far I had found an optimal option in trading for litecoins with this guy – https://www.litecoinlocal.net/user/1201 Please do not consider as spam, just trying to share my personal experience

Author's gravatar

I have nearly 20 years of studying cryptography. Part of me wants everyone to get involved in cryptocurrency. Part of me hopes for more scandals such as Mt Gox. It is the latter that drives us cryptographers to strengthen crypto and that will make this all better for everyone else. I hope millions of people become adept at the mathematics involved and the protective measures. I think the crypto folks are getting the first payoffs and rightly so, by being knowledgable about this (revenge of the nerds). When it gets down to it, there really is nothing complicated about elliptic curves and Diffie Hellman. It’s not calculus. For the layman I recommend reading at Bitcoin.org and follow their suggestions. I recommend “Mastering Bitcoin” and to get in slow. You will want an online wallet tied to a Bitcoin debit card and your fiat money bank so that you can feed in fiat and buy Bitcoin as often as you wNt and spend Bitcoin as often as you want. You will want to learn how to make cold storage wallets for most of your holdings. I don’t trust third party online wallets that much, but they are necessary for now to spend. I just designed software to be “in between “cold storage” and “third party”. I want to combine this with some hardware (won’t go into details) and market this.

Leave a Reply

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.