5 mistakes most bitcoin buyers make

Nowadays, it is not easy to buy Bitcoin. Some buyers make some costly mistakes when trying to earn some return on their investment for the first time. Therefore, you may want to be careful when making this purchase. Here are 5 common mistakes Bitcoin buyers make. Make sure to avoid these mistakes.

Wrong address

Make sure to enter the correct address when purchasing Bitcoin. If the address is wrong, the transaction cannot be reversed, and your money will be lost forever. Unfortunately, you cannot correct this error if the address you entered is wrong.

So, don’t forget to check your address three times to make sure it is free from any errors. It won’t take hours to verify the details. It is best to ask a friend or family member to review your details.

Confirmations

It is a great idea to personally purchase Bitcoin. You should only hand over your hard-earned money when the transaction is completed. It is even better to have multiple confirmations. Therefore, you might want to be patient to make sure there are no problems later on. This is more important if you are going to be investing a large amount of money.

payment methods

One of the most popular ways to make payments online is to use PayPal or a credit card. The reason is that these methods are very convenient. In addition, they can save a lot of money. However, keep in mind that you will have to pay a higher fee to enjoy this convenience. For example, you will have to face chargeback issues.

Therefore, it is better to choose a less expensive method of payment. For example, you can make a bank transfer. This is even more important if you are going to be spending a large amount of money on a regular basis. In the long run, it can save you a lot of money.

Missed opportunity

We know that people are making a lot of money buying and selling bitcoins. However, if you are only going to make this purchase because you don’t want to miss this money-making opportunity, then think again.

Buying Bitcoin without a solid strategy is a bad idea. As with any other purchase, you need to do your homework before investing in Bitcoin. Therefore, having a solid strategy in mind is of prime importance.

Research

Nowadays, the process of buying Bitcoin and other currencies is crystal clear. The reason is that there are so many exchanges and so many payment methods to choose from. The problem is, however, that we all tend to make mistakes especially when we buy something for the first time. Therefore, you may want to take your time before making this purchase.

In short, if you avoid the errors described above, you can buy Bitcoin safely and without any worries. Just make sure you have basic knowledge of cryptocurrencies. Hope this helps you make well-informed decisions.

The best bitcoin trading platforms

Cryptocurrency not only provided the fastest way to transfer money, but it also gave a new entity to trade and make money away from stocks and other commodities. While you can buy and sell Bitcoin directly, you can also use Bitcoin trading exchanges to continue your cryptocurrency trades. There are a lot of exchanges where trading Bitcoin is safe and secure, and clients are facilitated by many extended services. As an investor or trader in cryptocurrencies, you can choose any of the exchanges for your convenience. However, it is recommended that you peek at some of the reviews before canceling the subscription. Here is a brief review of the most important bitcoin exchanges around the world.

CoinBase: It is possibly one of the most popular and largest bitcoin exchange with the possibility of dual trading directly and through the wallet. CoinBase was founded in 2012 by researching the Y-Combinator project and has since grown rapidly. It has many lucrative services like multiple cash deposit and withdrawal options, instant money transfers between two CoinBase, wallet facilities with multiple signature options for more secure transfers, Bitcoin deposits insured against any loss etc. CoinBase has a wide range of payment partners Europe and the United States, which allow for seamless transaction execution through them. It has relatively low transaction fees and offers Bitcoin trading along with a large number of Altcoin trading as well.

CEX.IO: One of the oldest and reputable exchanges started in 2013, London as Bitcoin Trading Exchange and also as a cloud mining facilitator. Later its mining power grew so much that it took up nearly half of the network’s mining capabilities; However, it is now closed. CEX.IO allows clients to expand into a much larger amount of Bitcoin transactions, and has the ability to make Bitcoin available at the requested price instantly. However, for this exchange, it charges a somewhat high exchange amount, yet this is compensated for by the security and facilities that allow multi-currency transactions (dollars, euros, and rubles) to buy bitcoin.

Bitfinex is one of the most advanced trading platforms and is especially suitable for experienced cryptocurrency traders. With the high liquidity of Ethereum as well as Bitcoin, this exchange has better options such as leverage, margin funding, and multiple order trading. Apart from this, Bitfinex offers customizable GUI features, and many types of orders, such as limit, stop, trailing stop, market etc. This exchange also provides about 50 currency pairs that can be easily traded and withdrawn for everyone. One of the largest exchanges in terms of volume on Bitfinex offers pseudonyms for trades and only for some services that require identification. The only drawback to this exchange is that it does not support the purchase of Bitcoin or any other alternative currency through fiat transactions.

Bitstamp: Founded in 2011 and is the oldest exchange offering cryptocurrency and bitcoin trading. Most respected because although he is the oldest, he has not experienced a security threat until recently. Bitstamp currently supports four Bitcoin, Ethereum, Litecoin and Ripple, and is also available with the mobile app, regardless of the website for trading. It has great support for European users or traders who have Euro Banks accounts. The security is advanced and cold storage type, which means coins are stored offline, so you can say that it is not completely possible for any hacker to sneak. Finally, the complex user interface indicates that it is not for a novice user but for professionals and offers relatively low transaction fees.

Kraken: It is one of the largest bitcoin exchanges in terms of liquidity, trading volumes in euro cryptocurrencies, and trading figures in Canadian dollars, US dollars and yen. Kraken is the most respected exchange that is being routed by disruptions in cryptocurrency trading and has managed to maintain client volumes safely regardless of other exchanges being hacked at the same time. With more than 14 cryptocurrency trading methods, the user can deposit fiat currency as well as cryptocurrency along with the similar ability to withdraw operations. However, it is not suitable for beginners but it has better security features and lower transaction fees compared to CoinBase. The most important factor about Kraken is that they are reliable in the community and were the first to display volumes and prices on the Bloomberg Terminal.

Bitcoin Buying Guide – An easy 3-step guide to buying your first Bitcoin

Are you looking for a Bitcoin buying guide? Wondering where to start? People have a lot of misconceptions about Bitcoin – the first known and widely accepted digital currency around the world.

For example, many people think that only hackers and suspicious people are using them. However, Bitcoin is actually becoming mainstream with everyone from TigerDirect to Expedia to Dell and even Subway is accepting bitcoin payments now.

Why is it so popular?

Well, Bitcoin has a lot of benefits compared to other currencies. For example, you can send Bitcoins to someone as a payment without having to go through a bank broker (and get additional fees). It’s also much faster than sending money via bank transfer or transfer. You can send bitcoins to someone and have them receive the coins in seconds.

With all this, it is not surprising 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 withdrawing bitcoins – or going to the store and extracting some hard-earned cash for bitcoins.

The system works a little differently than this. This Bitcoin Buying Guide will go over a few things you need to know before purchasing – so you can buy safely and securely.

First of all, while the price may be in excess of $ 2,000 per coin, you do not have to buy a whole Bitcoin. Most places will allow you to buy bitcoins for as little as $ 20. So you can start small and go from there where you feel most comfortable with the way things work.

Second, this article is for general purpose only and should not be considered financial advice. Bitcoin can be risky, and before making any purchase, you should consult with your financial advisor to see if this is right for you.

So here are 3 easy steps to buy bitcoins:

# 1 Get a Bitcoin wallet

The first thing that you must do before purchasing your coins is to have a virtual wallet to store your coins. This wallet is a text string that people can use to send you bitcoins.

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

Most people prefer to have a wallet on their phone or computer. Popular wallets include Blockchain, Armory, Bitgo MyCelium, and Xapo.

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

# 2 Decide where to buy

There are several types of places you can buy and each varies slightly. There are online sellers who sell you Bitcoins directly for cash (or bank transfer or credit card).

There are exchanges where you can buy and sell bitcoins from others – similar to the stock market. There are also local exchanges that connect you with sellers in your area looking to sell.

There are also ATMs where you can buy with cash and have your coins in your wallet in minutes.

Every Bitcoin seller has its own benefits and drawbacks. For example, ATMs are great for privacy, but they’ll charge you up to 20% on top of the current rate, which is ridiculous. (At $ 2,000 BTC, that’s $ 400! So you’re paying $ 2,400 instead of $ 2,000).

No matter where you decide to buy from, remember to do your research and go with a trusted seller with a good reputation and solid customer service. First-time buyers will have special questions and may require additional support to assist them with their first transaction.

Take your time and research the different places to buy before you decide. Factors to consider include coin rates, surcharges, method of payment, and customer service.

# 3 Buy Bitcoin and transfer it to your wallet

Once you find a place to buy, get your money ready (for example, you can send an electronic transfer or use Visa to fund your account). Then wait for a good price. (Bitcoin prices always fluctuate 24 hours, 7 days a week.) Then place your order when you are ready.

Once you fulfill your order and get your coins, you’ll want to send them to your wallet. Simply enter your bitcoin address and ask the seller to send you your bitcoins. You should see it appear in your wallet in minutes to an hour (depending on how quickly the seller sends it).

Voila, you are now the owner of Bitcoin. You can now send in coins to pay for other goods and services, or stick to them on a rainy day.

The last thing to remember: Bitcoin is still in its infancy. There are large fluctuations in prices and the currency can be quite risky. Never buy more Bitcoins than you can afford to lose.

How to buy Bitcoin

There is no doubt about the fact that bitcoin trading is slowly taking the trading world by storm. There is some hype that trading Bitcoin can be dangerous and difficult but honestly, it is a lot easier to get bitcoins, even easier than you think.

Here are some simple steps to buy Bitcoin:

· I am looking for a wallet

First of all, you have to find an e-wallet. It is basically a store or provider that offers software in which bitcoins can be purchased, stored and traded. You can easily operate it on desktop, laptop, and even smartphones.

· Record

After that, you have to register using the e-wallet. You will create an account that will allow you to store your Bitcoins. The e-wallet merchant will offer you an opportunity to convert your local currency into Bitcoin. Therefore, the more local currency you have, the more Bitcoins you can buy.

· Connect your bank account

After registration, the trader must link his bank account to his trading account. For this purpose, some verification steps must be performed. Once the verifications are done, you can start buying bitcoins and get started.

· Buying and selling

Once you complete your first purchase, your bank account will be debited and you will receive the Bitcoins. Selling is done in the same way as buying. Keep in mind that the bitcoin price changes over and over again. The online wallet in which you are working will show you the current exchange rate. You must be aware of the price before purchasing.

Bitcoin mining

There is another way in which you can buy Bitcoins. This process is known as mining. Bitcoin mining is like discovering gold from a mine. However, since mining gold is time consuming and requires a lot of effort, the same applies to Bitcoin mining. You have to solve a series of calculations designed by computer algorithms to earn Bitcoin for free. This is almost impossible for a novice. Traders must open a series of locks in order to solve math operations. In this procedure, you do not have to use any kind of money to win Bitcoins, as it is simply a work of mind that allows you to win Bitcoins for free. Miners have to run software in order to earn bitcoins through mining.

Bitcoin is a digital currency that has been around for a long time. Since it was introduced, Bitcoin trading has increased and is on the rise today. Bitcoin’s value has also increased with its popularity. It is a new type of currency, which many traders find attractive simply for its earning potential. In some places, bitcoins are used to purchase goods. Many online retailers accept bitcoin for real-time purchases as well. There is a lot of room for Bitcoin in the coming era, so buying Bitcoins wouldn’t be a bad option.