Learning how to invest in bitcoin requires you to know how to buy some. And with the popularity of BTC, it’s not difficult to buy some for you to trade. You can also simply use them for buying commodities, instead of engaging with complicated trading and investing.
Bitcoin is certainly moving on a positive direction as an alternative currency. So, it’s wise to know how to get some for you to use.
How to Purchase Bitcoins today
There are several options in buying bitcoins. These options refer to the method you want to use to get bitcoins and other cryptocurrencies. These methods are:
- Bitcoin Exchange
This is the best and most regulated option in buying bitcoins. In fact, bitcoin exchange and broker platforms are used for trading and investing too. You only have to open an account on a reliable bitcoin exchange, then purchase bitcoins using your credit or debit cards.
LocalBitcoin is an online platform for selling bitcoins and other cryptocurrencies. But you don’t need to open and verify an account to use it up. All you need is to browse the site, and see a lot of people wanting to trade or sell their bitcoins. Communicate with one of them, then begin negotiating.
When a deal is closed, you can pay the seller through credit cards or debit cards. However, you can choose to meet with the seller, and pay them through cash. Another option is to pay them using bank transfer, PayPal or other payment methods suitable for both of you.
- Bitcoin ATM
Yes, there’s such as bitcoin ATM.
They operate in countries where they are permitted. Similar to traditional ATMs, they help you get currencies, in their case bitcoins, conveniently.
Assuming you’ve found one, you only have to use it by clicking on its menu to buy bitcoins. Most bitcoin ATM would ask for your mobile number for verification purposes as well. Once you’ve entered the verification code, it will ask for your bitcoin wallet address.
If you don’t have a bitcoin wallet yet, the machine would create one for you. It will print a small sheet of paper carrying your bitcoin wallet info, and it’s important for you to not lose it. Remember that’s where your bitcoins would go.
Next, place your cash into the ATM machine. Finalize the process by clicking send, and the machine would send bitcoins to your wallet right away.
What to do after buying your First Bitcoins
Say, you’ve already got your bitcoins in your bitcoin wallet. Be sure to take care of it to avoid losing your BTC. So, be sure to transact only on secured sites, and always keep your computer well-protected against malware and spyware. You wouldn’t want hackers to catch your BTC wallet credentials and open it up.
Moreover, consider using a hardware bitcoin wallet. These are portable storage devices which only goes online when plugged to a computer. Hackers won’t have access on it when offline, which keeps your bitcoin data much safer.
Using online security features are helpful too. 2-Factor Authentication is a popular example which you must use. This are those which requires you to enter a verification code sent through text before logging into an account. In fact, you must never use any bitcoin related accounts that doesn’t implement this security procedure.
These are the simple methods for you to buy bitcoin. Take note of them accordingly, so you can get your first bitcoin and use it up.