Searching for a Bitcoin Buying Guide? Wondering where to start? People have a lot of myths about bitcoin - the very first widely known and accepted cryptocurrency worldwide.

A lot of people think for example that only hackers and questionable people use it. However bitcoin is actually going mainstream together with everyone from TigerDirect to Expedia. com to Dell and even Subway accepting payments in bitcoin now.

The reason why so popular?

Well, bitcoin has a lot of benefits over other foreign currencies. For example , you can send bitcoins to someone as transaction without having to go through the bank middleman (and get hit using extra fees). It's also much faster than sending money by using a bank wire or transfer. You can send bitcoins in order to someone and have them receiving the coins in seconds.

Effortlessly this, it's no surprise that many people are now trying to buy bitcoin for the first time. However it's not as easy as going to your bank and pulling out bitcoins - or going to a store and plunking straight down some hard-earned cash for bitcoin.

The system works a little differently than that. This Bitcoin Buying Guide will go over the few things you need to know before you buy - so you can buy as well as securely.

First of all, while the price might be over $2000 all of us per coin, you don't have to buy an entire bitcoin. Most locations will let you buy portions of a bitcoin for as little as 20 dollar. So you can start off small and go from there as you get more more comfortable with the way things work.

Secondly, this article is for general reasons only and not to be taken as financial advice. Bitcoin can be dangerous and before making any purchase you should consult with your financial consultant to see if it's right for you.

So here are 3 easy steps to purchasing Bitcoins:

#1 Get a Bitcoin Wallet

The first thing to do any kind of your coins is to get a virtual wallet to store your current coins. This wallet is a string of text that individuals can use to send you bitcoins.

There are a number of different types of wallets and handbags including ones you download to your phone or personal computer, online wallets and even offline, cold storage wallets.

Many people prefer to get a wallet on their phone or computer. Well-known wallets include Blockchain, Armory, Bitgo MyCelium and Xapo.

Usually it's as simple as downloading the wallet for your phone as an app or downloading the software to your computer system from the wallet's main website.

#2 Decide Where to Purchase

There are several types of places to buy and each one is a bit various. There are online sellers that will sell you bitcoins straight for cash (or bank wire or credit card).

There are exchanges where you can buy and sell bitcoins from others -- similar to a stock market. There are also local exchanges that link a person up with sellers in your area looking to sell.

There are also ATMs to go to purchase with cash and get your coins sent to your wallet in minutes.

Each bitcoin seller has their good and bad points. For example ATMs are great for privacy, but they'll charge you as much as 20% on top of the current price, which is ridiculous. (On any BTC price of $2000, that $400! So you're having to pay $2400 instead of $2000).

No matter where you decide to buy, remember to seek information and go with a trusted seller with a good reputation and also strong customer service. First time buyers will especially have queries and may need the extra support to help them with their first deal.

Take your time and research the different places to buy before you decide. Things to consider include coin prices, extra fees, method of payment along with customer service.

#3 Buy Bitcoin and Move It For your Wallet

Once you've found a place to buy, get your funds prepared (i. e. you may send a wire transfer or even use your Visa to fund your account). Then wait for a great price. (Bitcoin prices are always fluctuating 24 hours, 7 days some sort of week). Then place your order when you're ready.

Once your own personal order is filled and you have your coins, you'll want to send these to your wallet. Simply enter your bitcoin address and obtain the seller to send you your bitcoins. You should see all of them show up in your wallet within minutes to an hour (depending about how fast the seller sends them out).

Voila, you are right now a bitcoin owner. You can now send coins to pay for some other goods and services, or hang on to them for a rainy day.
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