Excited about Bitcoin, and want to purchase some of the famed cryptocurrency? Welcome aboard, crypto-supporter!
Let’s get you started in three easy steps.
Step 1: Set up a Wallet
You need to sign-up for a digital wallet to store bitcoins. With numerous options available as of now in terms of features, platforms, security and convenience, the best wallet service is dependent upon your requirements and usage. It is advisable to do a little homework beforehand.
You could opt for a ‘core’ wallet as provided by the Bitcoin Client. Or, as is common these days, you could use an online wallet (via an exchange or an independent provider), or download an app on your mobile or desktop. You can even store bitcoins offline using a paper or a hardware wallet.
Whatever wallet you do select, make sure to keep your private access key safe and sound.
Step 2: Select a method to buy bitcoin
METHOD 1: Via Exchanges
Cryptocurrency exchanges are a popular and easy way of buying and selling cryptocurrencies such as bitcoin. There are various exchanges operating, each with its own attributable liquidity, security, verification requirements, exchange rates and fees and geographical restrictions. It isn’t easy to find a suitable exchange, so likewise a bit of R&D would go a long way.
METHOD 2: Via Transfer by Local People/Payment centers
You can buy bitcoins from individuals willing to trade it for fiat money. You can use this link to search people nearby you. There are also several outlets and banks that enable you to exchange cash for bitcoins, and so here’s another link to help you out.
METHOD 3: Via Bitcoin ATMs
Bitcoin ATMs/ BTMs serve as another great way of buying bitcoins. Simply, feed in the cash, scan your wallet QR code, and voilà- Your bitcoins are successfully transferred. Coin ATM Radar can help you browse BTM locations.
Step 3: Choose a payment option
Accordingly to the method of your choice, you can purchase bitcoins through traditional hard cash, cards (credit/debit), online payment services, wire transfers, or even other digital currencies themselves.