Purchase Bitcoin For The First Time

crypto wallet

So, you want to purchase Bitcoin, and you don’t know where to start. Don’t worry; this is your complete guide to buying Bitcoin. You may already know that bitcoin is the most popular cryptocurrency and it currently dominates the market. It’s no wonder it is now widely accepted as a form of payment around the world. But before you start thinking of spending it, you need to purchase Bitcoin.

How To Purchase Bitcoin

  • Find A Wallet

The first step to buying Bitcoin is getting a digital wallet that you will use to store your Bitcoin till you’re ready to exchange it or spend it. Different platforms offer different wallets with unique features. Look for a simple and secure wallet with good reviews and download it. Some good wallets can be gotten from Coinbase, Exodus or Mycelium among other top companies.

  • Find a Bitcoin Trader

If you want to buy your Bitcoin without a broker, then you need to use an exchange. There are many exchanges out there and finding the right one might appear tricky. These exchanges have fees so make sure you compare the fees before you choose. Again, Coinbase comes as a recommended exchange since it’s one of the most trustworthy companies in the industry. Others include CEX, and, Binance.

  • Pick A Payment Method

Some exchanges allow you to buy Bitcoin with credit card while some don’t. If you want to buy Bitcoin with credit card, Coinbase should be your first choice. Others allow PayPal transactions and direct debit.

  • Purchase Bitcoin And Start Using It

Most exchanges provide users with information about the Bitcoin to fiat currency exchange. However, note that cryptocurrencies are volatile so there is no fixed exchange rate. It varies from time to time.

There are many stores that accept Bitcoin all over the world. You can use your Bitcoin to purchase virtually anything. If you like, you can start trading it. Anytime you run out; you can buy Bitcoin with credit card again.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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