Simple Guide To Buying Your First Bitcoin

Are you looking for a guideline to buy bitcoin? Are you having a problem finding out where you can start? If this is the case, there are simple steps you can use to purchase this cryptocurrency.

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Get A Wallet

Getting a wallet to store your coins is the first thing to do. Take note this is not like traditional wallets. Instead, it is a string of text where people can send you bitcoins. There are many wallets available in the market today.

Some of these wallets can be downloaded on your computer or phone. Some are online while others are offline. Find a wallet that best suits your needs. Think of the ways you plan on using bitcoin before you decide regarding a specific wallet. This way, you will not have problems should you want to use your coins to buy something online or offline. Additionally, make sure the wallet you choose is from a reputable source.

Decide Where To Buy

There are several places you can use to buy bitcoin. Each one will have its pros and cons. Online sellers usually sell the coins directly to your wallet in exchange for payment options such as credit card, bank transfer, cash, or online wallets like PayPal or Skrill. At the same time, there are exchanges you can use to buy bitcoin. These exchanges are like stock markets where you can buy and sell from others. An example of a bitcoin exchange is Bitcoin Loophole which you can check to see if it works for you.

You may also opt to go the ATM way and purchase from an ATM. These ATMs take the cash equivalent of the coins you want. They then submit the coins to your wallet in a few minutes. Each seller has their own drawbacks and benefits. It does not matter where you decide to buy. All that matters are due diligence to find a trusted seller. They should have a strong customer service and good reputation.

Buy And Move To The Wallet

Once you are sure you have found the best place to buy you bitcoin, get your finances in order. You may need to fund your account using various methods such as credit cards or wire transfer. Make sure you wait for a good price before you make a purchase. The volatility of bitcoin allows them to fluctuate at any time. Try and find the best time to buy. You can check online rates to determine the best time to buy. Keep in mind you should not wait for long as the price changes may steadily increase.

After you complete your order, you will receive your coins. Send them to your wallet as soon as possible. Send the seller the bitcoin address of your wallet. You should see them reflected in your wallet within a few minutes or hours depending on the wallet you chose. That is the easiest and simplest way to purchase bitcoins. Remember to be careful since the wrong text address may cost you your coins.

If you are interested in even more business-related articles and information from us here at Bit Rebels then we have a lot to choose from.

Author Bio: Jim Bevin is a passionate writer, guest blogger, and a social media enthusiast. The primary focus is writing high-quality articles after in-depth research and make sure it is a readers delight. Information is key and he abides by the rule of writing articles that will appeal to a broader audience. He has published various articles on authoritative magazines like TripOnTechSocial Media ExplorerThriveGlobal etc. 

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