how to buy bitcoin
Everyone is curious about what bitcoin is and how it is earned and spent. Bitcoin is the most famous and largest digital currency in the world in terms of market capitalization and market share where there are no middlemen to handle the transactions. Microsoft co-founder Bill Gates has a lot of faith in Bitcoin to the point of saying, “Bitcoin is a technological tour de force.”
According to Leon Louw, a Nobel Peace Prize nominee, every informed person should at least know about bitcoin, as it has the potential to become one of the most important developments in the world.
Bitcoins can be purchased directly from other bitcoin users through marketplaces or exchanges, and paid for in cash, credit or debit cards, wire transfers, other cryptocurrencies, PayPal, etc.
So how can you buy bitcoins?
Get a Bitcoin wallet
This is the first step when buying bitcoins as you will need a place to store, receive and send your bitcoins. Different bitcoin wallets provide different levels of security, and you can choose the level of security that works best for your transactions. The most popular wallet options are
• A wallet software stored on your computer’s hard drive
• A web-based service that is an online wallet
• A multisig wallet that incorporates the use of many different keys to protect the account and keeps your bitcoins safe and offline
The next step is to fund your Bitcoin wallet and start placing orders.
where to buy bitcoins
• Localbitcoins: – This is the main site for organizing face-to-face transactions and negotiated prices. Their escrow service has made the site popular as it adds an extra layer of buyer and seller protection with a trust score of A. You can pay bitcoins via PayPal, cash, or bank transfers.
• Coinbase: – This is another popular bitcoin wallet with one of the easiest ways to buy bitcoin. Upon signing up, one receives a bonus of $5. It has an A+ trust score. Use your card or bank transfers to buy bitcoins.
• Wesellcrypto: – This site is highly ranked and beginner friendly. It has a trust rating of B+ and you can buy bitcoins through your PayPal account.
• Bitquick: – This site is also beginner friendly, allowing users to buy and accept bitcoin payments via hard currency and wire transfers. It has a trust rating of B.
With bitcoins, you can buy merchandise anonymously; make cheaper international payments since Bitcoins are not subject to regulation by any country. The bitcoin market is very volatile and more people buy bitcoins hoping to make a profit when the price rises.