HOW TO BUY BITCOINS

HOW TO BUY BITCOINS

Step One: Get a Bitcoin wallet

A bitcoin wallet is where you will store any of the digital currency you purchase.

There are a number of options available, with different levels of security provided.

The main options include using your hard drive, for more advanced users, or an online service like Blockchain, which also offers its own app to simplify the process.

Step Two: Find a Bitcoin broker

As the popularity of Bitcoin has grown, so too have the number of websites specialising in trading the cryptocurrency.

Some, like Coinbase, also offer their own app.

Different brokers will vary on their exchange rates and the fees they charge.

Step Three: You're ready to buy

Each Bitcoin broker will require your bitcoin address, which is a unique identifier used to make your transaction.

If you have used an app to set up your Bitcoin wallet, they will normally have a record of this, but it is not the same as your wallet number.

Once you provide your broker with this number, you can then pay them via a credit or debit card, or bank transfer, for the desired number of Bitcoins.

Step Four: Sell, spend or wait for the market to rise

Once you have bought your Bitcoins, you can then spend them online at shops that will accept them.

Alternatively, you can wait until they rise in value and try and make a profit.

The Bitcoin market is notoriously unstable, so there is no guarantee when or if this will happen.



Source: Bitcoin Profits blog

Share this: