Bitcoins are the most modern currency unit which is increasing its rate with each passing day. Now purchasing a bitcoin is not so easy because the price of one bitcoin has reached to several thousands of dollars. Hence a normal person especially a non-American cannot purchase this currency easily. However, due to an increase in currency trends, people are now more interested in purchasing this crypto coin for easy online transactions.
If you are also one of those and want to buy bitcoin, here is the step by step guide:
Creating Storage to Store Bitcoins:
Although bitcoin is an untouchable entity still, you need to have a personalized storage before thinking about purchasing a bitcoin. This storage is mostly referred to as your digital wallet. What this wallet actually is? Well, it is a destination file in your computer that lets you record your bitcoins. To create this file there are many software available online, and some of them are also powered by the official bitcoin owners. There are three types of bitcoin wallets that you can choose from:
- Online Wallets that’s personally yours.
- Using a third party online storage to store your bitcoins.
- Using paper chipped wallet for bitcoin storage.
Getting the Bitcoins:
Once you have created this wallet, now move to step 2 i.e. obtaining the bitcoins. Now as I have said earlier that bitcoin is much expensive to purchase directly, hence you can purchase this currency through the exchange. For this, you will buy one registered online cryptocurrency and then convert it into bitcoins, to get your bitcoins. There are many currencies in the market available on lesser rates that allow bitcoin exchange.
Purchasing Coins to Exchange:
Before making an exchange you need coins hence to purchase the coins, the coin holder will call you to meet up. Make sure to meet him at a place that you know in the best way. Also, the place should not be the lonely one because, in case of any mishap, you will not be able to call for help. There are lots of scammers in the market.
The third thing you need to do is providing your credentials to an exchange service. Make sure that you provide genuinely and to the point information to the exchange portal otherwise, on verification, if any info would prove to be wrong, then your complete hard work will be wasted and the exchange portal will reject your request right away. After the exchange, your bitcoins will be stored in the wallet.
These are some of the most basic steps that you can opt to purchase bitcoins however before making an investment in the bitcoin currency, you will have to understand the legal issues, digital issues, and benefits attached to this currency. Also, make sure that you know the online world better and do not get indulged with some criminal group as there are lots of scammers and hackers are behind bitcoin exchangers. Last but not the least, make short investment at start if this is your first time so that in case of loss, you still have something remained for your bread and butter.
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