Everyone is curious about what bitcoin is and how one can earn and spend it. Bitcoin is the most famous and largest digital currency in the world by market capitalization and market share as there are no intermediaries to handle transactions. Microsoft co-founder Bill Gates believes so much in Bitcoin that “Bitcoin is a powerful technology game.”
According to Leon Louw, Nobel Peace Prize nominee, every knowledgeable person needs to know at least Bitcoin due to its potential to become one of the most important developments in the world.
One can buy bitcoins directly from other Bitcoin users via the markets or through exchanges, and one pays them through fixed cash, credit or debit cards, electronic bank transfers, other cryptocurrencies, PayPal, and more.
How, then, can I buy bitcoins?
Get a Bitcoin wallet
This is the first step when purchasing Bitcoins because you will need a place to store, receive and send your Bitcoins. Different bitcoin wallets provide different levels of security, and you can choose the level of security that works best for your transactions. The most popular wallet options are
• The wallet program stored on your computer’s hard drive
• A web-based service that is an online wallet
A multi-signature wallet that includes the use of many different keys to protect the account and keeps your Bitcoins safe and offline
The next step is to fund your Bitcoin wallet and start placing orders.
Where to buy Bitcoins
• Localbitcoins: – This is the primary site for arranging face-to-face transactions and negotiating prices. Its escrow service has made the site popular because it adds an extra layer of buyer and seller protection with a confidence score of A. You can pay for bitcoins via PayPal, cash or bank transfers.
• Coinbase: – This is one of the popular bitcoin wallets with one of the simplest ways to buy bitcoin. Upon registration, one gets a bonus of $ 5. It has a confidence grade of A +. Use your card or bank transfers to buy Bitcoins.
• Wesellcrypto: – This is a highly ranked website, which is beginner friendly. It has a B + trust rating, and you can purchase bitcoins via your PayPal account.
Bitquick: This site is also handy for beginners allowing users to buy and accept payments for bitcoins via hard currency as well as bank transfers. It has a confidence rating of B.
With Bitcoin, you can buy goods anonymously. It is cheaper to make international payments because bitcoins are not regulated by any country. The bitcoin market is very volatile and more people are buying it hoping to make a profit when the price rises.