Despite the recent volatility in cryptocurrency prices, many investors continue seeing opportunities in digital currencies. As a result, the market for these types of assets continues to expand for search How to Buy Bitcoin. In fact, as of October 2018, more than 1600 digital tokens are available on marketplaces like CoinmarketCap. Even though most people don’t know precisely how they work or why they’re helpful, the concept of  blockchain based digital tokens has undoubtedly caught the attention of many investors. Suppose you’ve been researching different ways to invest in Bitcoin, Ethereum or other similar cryptocurrencies. In that case, this guide will help you understand everything you need to know about buying and safely storing them. Keep reading…
Table of Contents
What is a Cryptocurrency?
A cryptocurrency is a form of digital asset that uses cryptography to ensure it is secure and to control the creation of additional currency units. Think of it like a digital version of gold: a valuable resource you can own. Cryptocurrencies are decentralized, meaning they aren’t controlled by one central government. Instead, they’re maintained by a network of computers around the world that verify transactions and produce additional currency units, known as mining. There are a few different types of cryptocurrencies. The most popular ones are Bitcoin, Ethereum, and Litecoin. You can find the price of each of these currencies on sites like CoinMarketCap.
How to Buy Bitcoin
If you’ve decided that Bitcoin is the best investment for you, there are a few different ways to buy it. The easiest way is to sign up for an online exchange like Coinbase. These marketplaces make it very easy to buy, sell and store cryptocurrencies, which is why they’ve grown in popularity in recent years. Once you’ve signed up, follow these steps to make your first purchase: First, you’ll need to transfer money from your bank account to your Coinbase wallet. This process can take a few days, and you’ll also need to pay a small fee. Once you have the funds in your Coinbase account, you can easily buy Bitcoin. This process is similar to how you’d buy stocks online. Simply select the amount of Bitcoin you want to purchase, and you’ll be able to make the trade. The entire process should take less than 10 minutes. You can also buy Bitcoin with cash through a service like Local Bitcoins. This is a peer-to-peer marketplace where you can trade cash for Bitcoin, which means you’re not protected by consumer protections like those offered by Coinbase.
How to Store Bitcoin
Once you’ve purchased your Bitcoin, you’ll need to store it securely. This can be a bit of a challenge, but there are a few different ways you can do this. If your goal is to hold onto your Bitcoin for the long term and not spend it, you can store it on a hardware wallet. This is the most secure way to store your Bitcoin, but it can be inconvenient if you’re planning to buy and sell it regularly. If you’re planning to buy and sell Bitcoin regularly, consider storing it in a wallet like Coinbase. This online wallet is very secure, and you can easily access your funds when needed. It can take up to a few days for Coinbase to verify your identity and link your bank account, so make sure you give yourself enough time to set this up before buying more Bitcoin.
How to Buy Ethereum
If Bitcoin isn’t your cup of tea, you can also buy Ethereum. Ethereum has become a trendy alternative to Bitcoin. There are many similarities between the two cryptocurrencies, but there is also one key difference. Ethereum is a platform for decentralized applications, which makes it very flexible for new uses and applications that aren’t necessarily related to money. If you’re interested in buying Ethereum, we recommend using the same online exchange you used to buy Bitcoin. This way, you’ll be able to transfer your funds between different digital currencies quickly. Just make sure to research the exchange before making your decision. You’ll want to make sure it is secure and easy to use. You can also buy Ethereum using a peer-to-peer marketplace like Local Bitcoins. This is a bit riskier than using an online exchange, but it can be an excellent way to purchase Ethereum if you’re new to the world of cryptocurrencies.
Coinbase
Coinbase is an excellent option for buying your first coins if you’re just getting started buying cryptocurrencies. It’s one of the most well-known exchanges, and it’s straightforward to use. Coinbase makes it easy to link your bank account and purchase Bitcoin, Ethereum or Litecoin. It’s important to note, though, that, unlike other exchanges that let you store your cryptocurrencies in a personal wallet, Coinbase keeps your funds in their digital wallet. If you want full control of your coins, you want to purchase them through an exchange that allows you to store them in a digital wallet. Coinbase is a great way to buy your first coins, but it’s not the best option for long-term investors who want to store their coins in a wallet they control.
How to Buy Litecoin
If you want to diversify your cryptocurrency portfolio, you can also consider buying Litecoin. You can similarly buy Litecoin as you purchase Bitcoin or Ethereum. You can either sign up for an online exchange like Coinbase, or you can use a peer-to-peer marketplace like Local Bitcoins. Make sure to do your research before making your decision. Like Bitcoin, the price of Litecoin has been very volatile in recent months, making it a risky investment for long-term investors. If you’re looking for a less risky investment, it may be best to hold off on buying Litecoin and stick to Bitcoin or Ethereum.
Summing up
If you’re interested in getting in on the cryptocurrency craze, you’ll need to buy Bitcoin or Ethereum first. Be careful when you’re buying these coins, though. There are a few different places where you can buy them, and they don’t all offer the same level of security. Once you’ve purchased your coins, you’ll need to find a secure place to store them. There are many options here, so choose carefully depending on your investment goals. And don’t forget: cryptocurrencies are very risky investments, so don’t put all of your savings into them.
