So you are aware about the basics on bitcoin, now you are excited about its potential and you would like to buy a few bitcoin. But don’t know how? Bitcoin can easily be bought on the exchanges, or straight from the people through marketplaces. If you need complete details on how the process works visit howtobuyabitcoin now. You may pay them in various ways, which will range from the hard cash to debit and credit cards to the wire transfers, and even with some other cryptocurrencies, which depends upon who you buy from or where you stay.
Set up your wallet
First step will be setting up the wallet for storing bitcoin – you require one, and whatever the most preferred method for purchase. It can be the online wallet (part of exchange platform or through independent provider), desktop wallet, mobile wallet or offline one (like hardware device or paper wallet). Even within all these wallets categories there is the wide range of the services to select from, thus you need to do a little research before you decide over which version suits your requirements. You will find a lot of information on the wallets, and tips of using them. One important part of wallet is to keep your keys (string of characters) or passwords totally safe. Suppose you lose it, you will lose an access to your bitcoin that are stored there.
Open your account at any exchange
The cryptocurrency exchanges can buy or sell bitcoin for you. There are many operating at present, with different degrees of security and liquidity, and the new ones emerge whereas others end up in closing down. Since with the wallets, it’s advisable you do a little research before selecting– you might be lucky to have many reputable exchanges to select from, and your access will be limited to a few, depending on the geographical area. Most exchanges accept the payment through bank transfer and credit card; also some are keen to work with the PayPal transfers too. Most of the exchanges charge certain fees (that normally include fees for using this bitcoin network).
Every exchange has got the different process for transaction and setup, and must give you enough detail to execute your purchase. Suppose not, you must consider changing your service provider. When exchange has got the payment, it can buy the remaining amount of BTC for you, and deposit it in the automatically generated wallet.