Is there an easier way on how to buy Bitcoins? Whether you’re a newbie or an expert, there are ways on how to get Bitcoins which include Bitcoin mining and, of course, buying. But before making any purchase, it is important to know and understand where to buy and if buying is the better option for you.
Although there is a variety of ways on how to buy Bitcoins, it may not be easy to purchase with the use of PayPal or your credit cards. Most exchanges as well as private sellers avoid using these because transactions can be easily reversed since there is no way of proving that the purchased Bitcoins have reached the buyer. However, there are some companies in other countries that still allow the use of credit cards for purchases. Some also make use of personal checks, cash, money orders, as well as money transfers.
The first step on how to buy Bitcoins
The first step on how to buy Bitcoins is to first purchase yourself a Bitcoin wallet. This wallet serves as a sort of bank account where you can store your Bitcoins. It is important to choose a good Bitcoin wallet as this ensures the safety of your Bitcoins. Different levels of security and privacy are provided by different types of wallets and you can choose one depending on how you intend to use and how much you are going to store in it. Some wallets provide little security and privacy features while others offer advanced security and privacy features.
Bitcoin wallets also come in different types depending on their purpose. Hardware Bitcoin wallets are ideal for storing a significant amount of Bitcoins although this type of wallet must be backed up regularly in case it gets corrupted. Online or mobile Bitcoin wallets are ideal for frequent purchase and payments online. These are also good for sending and receiving payments or in making other transactions. While online wallets may be easier to use for some they provide little security against hackers. There are also ‘vault’ services which are also perfect for protecting and securing Bitcoins offline.
You can get to know how to buy Bitcoins by looking through different available exchanges all over the world. Of course, your location is also one of the major factors that can affect your choice. Look for local exchanges and see if that provides better offers and allow a variety of payment types.
How to buy Bitcoins from exchanges?
One of the easiest ways on how to buy Bitcoins is through legitimate exchanges although you can also directly buy from people that offer Bitcoins in certain marketplaces. In some exchanges, all that you have to do is register and create an account on that site. After registering, the exchange will provide an online Bitcoin wallet for you to use and they will require you to link your bank account.
Different exchanges make use of different types of payment so you have to choose one where the mode of payment is easier for you although sometimes this is also determined by your location and their allowed payment option. Some sellers only allow payments made through credit or debit cards, while there are some that ask buyers to deposit the payment or make wire transfers, or even pay in cash before the Bitcoins are released.
It is also vital that you look for trusted exchanges and you can find a lot online. However, for you to check whether an exchange is legitimate or not, you can always seek help from sites that give reviews on which exchanges are good or not. Of course, you should look for one that is in your location as that is still the best possible option for you. A lot of websites give an overview about the different exchanges all over the world and they can easily link you to these exchanges as soon as you decide which to get Bitcoins from.
One of the most popular exchange service and wallet is Coinbase. This exchange is available for browser and mobile use and they also allow US dollars and Euros to be traded for Bitcoins.
However you choose to get Bitcoins, it is important to make sure that your wallet is secure and you are able to keep your anonymity. Choose exchanges wisely and make transactions only with legitimate institutions. If you are a beginner, seeking help from someone who’s knowledgeable about Bitcoins or from sites that provide useful information about it especially on how to buy Bitcoins would be of great help.