How Do I Buy Bitcoin?

As a result of your research on Bitcoin, you now realize how effective it will play in online payment systems and money transfers in the coming years. The next step is to answer the question “How can I buy Bitcoins?"

We believe our guide can help you a lot about how you can get Bitcoin.

To buy Bitcoin, you can exchange your existing money at a certain rate or buy it directly from someone who sells Bitcoin. You can use Bitcoin in many ways, such as cash or money transfer, to make payments. These paths may vary depending on who you are receiving or where you live.

First, get yourself an et online wallet!!

First of all, you must have a wallet where you can put your Bitcoins. In the Bitcoin world, this is called a et wallet da, but you can think of it as your online wallet (online wallet) or a bank account. Here are two options:

A software wallet where you can store Bitcoin on your hard drive

An online, web-based wallet service

Both options may have security vulnerabilities. (Do not be afraid of the vulnerability, we mean problems caused by user error.)

If you store your Bitcoins on your hard drive, we recommend that you make a continuous backup in case your hard drive crashes.

Security protocols in online wallet or web-based wallet services may also be very well protected or low protected, depending on which you choose. The choice is all about which one you trust more.

Bitcoin Exchange and Online Wallet

The options available for exchanging platforms are constantly increasing, because there are many new initiatives to enter this market. Some offer exchange with all digital currencies and fiat currencies (non-equivalent for precious metals such as gold and silver), while some are only platforms with limited Bitcoin exchange.

Online wallets are the best option to trade and store Bitcoin on the Bitcoin exchange. The best option for exchange and online wallet varies depending on where you live.

other major exchange sites are: Bitstamp (UK), BTC-e (Bulgaria), Cryptsy (USA), BTC China and Huobi (China).

Once you've created your account, you'll want to connect your bank account to your wallet and transfer money to your wallet to use the money in your bank account. You will be charged a low fee during this transfer.

When people in most countries want to transfer funds to their overseas accounts, they generally pay more processing fees and longer processing delays. With this exchange platform you can only use the banks of the country where the platform is located.

Alerts about exchange, wallet and bank accounts!

Despite the credentials requirements, exchanges and wallets are not organized as in banks. So your account is stolen by hackers do not have any insurance against. As Bitcoin is not currently regarded as a legal currency in most countries, authorities have not been able to determine exactly how to implement these theft. Once the thieves have stolen your wallet password once and changed your password, you have no guarantees to get your account back.

Some banks think that the digital currency is opposed to business models, and therefore differentiate it from other businesses in Bitcoin-related applications. In fact, these banks unilaterally terminate accounts with links to Bitcoin without explanation.

Face-to-face or “Over-the-counter” (OTC) trades

If you live in a city, care about anonymity and don't want to deal with bank transactions, one way to get Bitcoin is through face-to-face trade with local vendors. B LocalBitcoins ana is the main site that regulates such transactions and offers quotes.

If the trade involves large sums of money, the site has relevant security considerations. For example, the place of trade should be a crowded public place; should not be a special place. In addition, the seller and the buyer should take all necessary measures in return for the amount of cash they carry.

It is worth remembering that; if you are going to do a face-to-face trade, you should have a smartphone or tablet with which you can access your Bitcoin wallet. Of course internet access is also necessary for this trade.

If one-on-one meetings are not suitable for you, you can find a platform for meeting Bitcoin on “meetup.com s. In these meetings, we talk about a lot of topics from Bitcoin trading to learning how to make Bitcoin transactions. Such meetings became more frequent since the second half of 2013. Even in some big cities, “Satoshi Squares” (Satoshi Square) events are organized and you can enter the event area on foot, buy Bitcoin and continue on your way. These group meetings are safer than others, but not as anonymous.

Depending on the vendor, you can get easier shopping and more privacy with an additional fee of 5-10% when purchasing Bitcoin. Most reputable traders predetermine the price of the Bitcoin purchase before the meeting, but most prefer to shop at the current Bitcoin price to avoid being affected by the instant drops and upgrades of Bitcoin.

Some vendors agree to trade Bitcoin with PayPal money, but most prefer platforms where their information is not visible.

In addition, in cities where such trade is carried out, it is recommended that you check whether the trade is legal in that city before shopping. Cash payments you make in places may attract the attention of the police and you may be fined for doing illegal work.

About the word “Mining” (Bitcoin production)

Bitcoin Mining

What is this "mining" thing? I have heard that we can produce our own Bitcoins…

I'm sure you've heard the word “mining de on websites and in places where Bitcoin talks. This word actually means producing your own Bitcoin with your own computer and powerful display (graphic) cards. Although “Mining etme is a very logical way of obtaining Bitcoin for a short period of time, the value of the Bitcoins you produce on your own computer, despite the much bitcoin liquidity on the market, unfortunately only saves the money you spend on your computer's hardware and electricity.

As we mentioned before, if your computer came from the air and you don't pay for the electricity, you can leave the computer on for weeks and continue to produce Bitcoin. J It is possible to produce Bitcoin on a large scale with products made for mining, called ASIC.

Most of the “mining” is carried out by the guilds that gathered to produce Bitcoin during these periods.

If you read articles on the Internet suggesting that you are able to produce Bitcoin with your own personal computer and that you will profit from it, they are probably old-time shipments or people who are trying to sell you hardware. Be alert, don't be fooled!

Use as an Investment Tool

If you don't mind taking large amounts of Bitcoin and keeping them safe for yourself, you can invest your money in Bitcoin as an investment tool. The Bitcoin Investment Trust (BIT), established for this purpose, allows you to deposit your money in Bitcoin and secure your Bitcoins with the existing security protocols used by banks.

Bitcoin ATMs

Bitcoin ATMs are a new concept and a very rare entity, but since its inception it has proved to be a very popular and very simple one. You can compare ATMs to merchants you shop face-to-face. In this shopping with machine instead of people, you put the cash into the ATM and you receive a code in which you can load Bitcoin into your wallet.

Again, it is worth mentioning that you must have an online and local wallet to use ATMs.



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