How To Buy Bitcoin
Buying Bitcoin has never been easier than it is today.
I have been buying Bitcoin since 2010 before it was the in thing to do, and when it was relatively cheap. Look at how things have changed. There are many sites and ways to buy Bitcoin nowadays but keep reading so you don’t end up like someone I know.
A friend of mine lost about 3 million dollars worth of Bitcoin
A friend of mine first introduced me to Bitcoin, he said that it was the way of the future. I looked into it and before you know it I was buying like crazy. At the time neither of us had kids we were just 2 guys trying to get rich. I always made sure that the coins I bought were kept in a secure virtual wallet to prevent anything from happening to my investments. My friend, on the other hand, wasn’t as thorough as I was with keeping his investments safe. To make a long story short my friend had some jackleg virtual wallet and got robbed for what would be 3 Million Dollars worth of Bitcoin today.
What Is a Bitcoin Wallet?
A Bitcoin wallet is a software program where Bitcoins are stored. To be technically accurate, Bitcoins are not stored anywhere; there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the person who owns the balance. Bitcoin wallets facilitate sending and receiving Bitcoins and give ownership of the Bitcoin balance to the user. The Bitcoin wallet comes in many forms; desktop, mobile, web, and hardware are the four main types of wallets.
If you go to a store to buy your mother a purse and you notice that every single purse there has a gigantic hole in the bottom are you going to buy her one from there?
The Answer Is No.
Why?
Because you don’t want her to lose all of her hard earned money.
So the same goes with your virtual wallet, you want it to be Safe & Secure. Trust me you don’t want to be like my friend and lose all of your money because you put it in the wrong wallet.
Where you buy and sell your bitcoin is the next step. Most major sites like Coinbase offer 3 payment methods to purchase Bitcoin: debit card, bank account, and wire transfer. PayPal can usually only be used to sell or withdraw.
Coinbase is the world's largest Bitcoin broker, and also offers an exchange, wallet, and developer API.
Paxful is another great place to buy Bitcoin. I use Paxful because they actually over 300 different payment options to buy and sell Bitcoin. I get gift cards every year for Christmas, can you guess what I do with them?
That's right I usually buy Bitcoin with them on Paxful.
Where you buy and sell your Bitcoin is totally up to you just do a little research and you’ll be buying in no time. The most important thing is having a secure wallet. Paxful and Coinbase both give you a free wallet when you sign up.
Good Luck & Happy Investing
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