How to buy Bitcoin?
Bitcoin is in the news today more than ever. Thanks to skyrocketing prices and roller coaster dips, everyone and even their dog are interested in learning how to buy and sell Bitcoin. As the most popular form of cryptocurrency - Bitcoin is now widely accepted around the world and has a growing number of applications. But before that, you need to first know where to purchase BTC and how to store it.
There are a few steps you need to take to make your first purchase of Bitcoin, but if you’re ready and willing to follow along, we’ll teach you how to buy Bitcoin in no time.
Although each step does take some consideration, these are the main points you need to think over when it comes to making your first Bitcoin purchase:
- Get online or offline Bitcoin wallet and set up a strong password to protect it.
- Set up an account on Coinbase or any other exchange you like.
- Choose your preferred payment method.
- Buy some Bitcoin!
So How to Buy Cryptocurrency?
The process of buying and selling cryptocurrency has been made a lot simpler over the last few months. There are 5 important factors that you must think about before buying cryptocurrency:
To find out how and where you can buy cryptocurrency, it is important for you check your country’s regulations.
2. Payment Method
The most common and accepted payment methods to buy cryptocurrency include: credit card, bank transfer or even cash. Different websites accept different payment methods, so you’ll need to choose a website that accepts the payment method you want to use.
3. Type of Cryptocurrency
Not all cryptocurrencies are available for purchase on every website. You will have to find a website that sells the cryptocurrency that you want to buy.
4. Cost of Fees
Each website has different fees. Some are cheap, some are not so cheap. Make sure you know how much the fees cost before setting up an account on any website. You don’t want to waste your time verifying yourself and then find out the fees are too high!
How much you can afford
As with any investment, you should never invest more than you can afford. I recommend speaking to a financial adviser first.
With those 5 factors in mind, we can move on. When you buy your cryptocurrency, though, where are you going to store it? I’ll give you a hint: it’s not your bank account.