How to Buy Bitcoin
How to Buy Bitcoin?:
You have seen that all holders of bitcoin and other cryptocurrencies increase in value. You may want to enter the game. But how do you start? We will show you.
However, before doing this, you should keep in mind that bitcoin is not universally accepted as the regular currency. My colleague Seema Mody recently posted an excellent video in which he tried to live a week with the coin, and it was not easy. You can use Bitcoin online and at some retailers, but for the most part, it is better that you only pay in cash or with a credit / debit card.
You should also keep in mind that Bitcoin is more like a speculative investment than a normal currency, and can fluctuate greatly in value. Although the general trend has increased in recent months, shocks of 20 percent or more in a few days historically are not uncommon.
Still interested? Here we show you how to start:
Download the application “Coinbase“.
It is available for Android and iPhone.
Create a Coinbase account.
You must accept the terms and enter the state in which you live.
Now you are connected. Look at that daily volatility!
Again, the price of a single bitcoin tends to be quite volatile, soars one day and another collapses. It is a speculative investment.
Add a payment account
Touch the “buy” button at the bottom of the screen to add a payment account. Credit and debit cards allow instant purchases, but only allow you to buy $ 150 in Bitcoin per week. Linking a bank account may take 4-5 days to operate, but it has higher purchase limits.
You are ready to buy. Touch the Buy button again.
This time you will see a screen that shows your account information. Since I am using a credit card, I can only buy $ 150 per week. If I buy $ 100 right now at the current price of $ 2708.51, I will get $ 0.03692073 Bitcoin. There is a fee of $ 3.99. Now I just press the Buy button again.
You can also buy Ethereum:
A phone that shows an ethereum price chart on the Coinbase exchange platform.
You can use the same application to buy Ethereum, another cryptocurrency. At the time of writing, Ether, the currency associated with Ethereum, is available from $ 327 per pop. As with Bitcoin, it is limited to how much you can buy per week.
Prepare for the fraud prevention call
My bank called me in 5 minutes to verify my attempt to buy Bitcoin. You can face the same situation, just approve purchases and you should be ready to start.