![]() ![]() There are many cryptocurrency exchanges you can use, but some charge higher transaction fees, others have limits on how you withdraw funds and a few may even be scam sites rather than legitimate exchanges. Choosing a Bitcoin Exchangeīefore you buy any bitcoin, you also need to find an exchange. As long as your cryptocurrency wallet can hold it, you can trade it. Most bitcoin exchanges will let you trade in cryptocurrencies like ethereum, bitcoin cash, litecoin, dogecoin, ripple XRP, NEO, IOTA and more. You should also understand that bitcoin isn’t the only cryptocurrency available. Most of the top VPNs and organizations - even Wikipedia and Microsoft - now accept it. Of course, not everyone takes bitcoin, but it’s becoming more common. So, if you’re big on privacy and want to hide as much of your life as possible, buying bitcoin for your digital purchases might be worthwhile. ![]() However, that also makes it harder to control, leading to its volatility and security issues. The lack of any middlemen is great for privacy, as there’s no bank scanning each of your transactions. Unlike traditional government-issued fiat currencies, cryptocurrencies aren’t controlled by a government or organization, but are traded directly in decentralized exchanges. One thing you should learn before you start trading is what bitcoin is. Luckily, you don’t need to know the details about where it came from, how “mining” works, or what the “ bitcoin blockchain” is in order to trade with it. This isn’t something that you need to rush, but after you’ve got the right exchange and wallet, you can start trading.Ĭ updated this article to add information on the most common payment methods for buying bitcoin and added images to the full step-by-step guide.īitcoin - as with all cryptocurrencies - can be difficult to understand. These are important, so be sure to look at many options before you start creating accounts and begin buying bitcoin. Once you’ve decided how much you want to buy, you can start looking for an exchange and a crypto wallet. However, you can trade in small fractions of bitcoin, so there isn’t too much at risk while you’re learning the ropes. Like any investment, bitcoin carries a lot of risk, but unlike traditional savings accounts that go up at a slow and steady pace, bitcoin prices can vary wildly within a short span of time. You can purchase bitcoin with any payment method you want, as long as you find an exchange that supports it.Most bitcoin transactions come with a small fee, so check these before buying anything.Picking a good exchange and cryptocurrency wallet is vital to your privacy and the security of your investment.It’s easy to buy and sell bitcoin if you have the right tools.So read on and learn the easy steps for how to buy bitcoin. ![]() Last Updated: 27 Mar'23 T18:43:12+00:00Īlthough we’re not exactly investment gurus who can tell you precisely when and where to invest your money, investment advice for cryptocurrencies is useless if you don’t know how to purchase bitcoin in the first place.
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