Would you like to learn how to buy Bitcoin? The most popular cryptocurrency accepted from all over the world has a growing number of applications allowing you to acquire it. We will, therefore, explain how to buy BTC and store it.
First step: find a good wallet dedicated to Bitcoin
Digital wallets exist to store Bitcoin until you want to spend it, exchange it for other cryptocurrencies…
Once you have chosen a wallet that includes all the features you value, upload it to the appropriate platform. For beginners, we recommend that you start with a simple wallet that will allow you to transfer Bitcoins.
These wallets can be downloaded for free, but some transaction fees may apply when you move bitcoins or crypto in general, from one account/wallet to another.
You will find below some good options listed below!
The Coinbase wallet is particularly suitable for beginners since it is linked to the Coinbase trading platform and is very easy to use… Which makes it the most popular trading platform in the United States. Once registered you have visibility on your wallet, and you can quickly and from any computer or mobile, modify, resell or exchange your resources directly from the platform.
Step 2: Choose the right trading platform
If you want to know how to buy bitcoin without going through a reseller, then you need to know how to use an exchange platform… Also called trading platforms.
There are many trading platforms with very different performances… Make no mistake… We will quickly write an article about blacklisted platforms.
Don’t forget to look also at the fees charged by the different exchanges when buying Bitcoin for example, and the payment methods available also.
Here is a small list of secure trading platforms:
Coinbase is undoubtedly the first suggestion we can make if you have never bought Bitcoins before. This platform is particularly suitable for beginners. Very easy to use, Coinbase also has excellent customer support. You will be able to access your wallet from both the desktop and mobile versions.
CEX is even easier for those who are already used to using trading and exchange platforms. CEX gives you immediate rates with the possibility to buy and resell easily… but their payment methods are a little limited.
If you want to take a shortcut to buy Bitcoins, you can choose LocalBitcoin or Bitquick. They will allow you to buy Bitcoin quickly without trading platforms in the middle.
However, be sure of yourself if you choose this option… Overall, it is quite easy to get screwed by buying BTC from individuals.
Step 3: Select your payment method.
The different trading platforms accept different payment options. Exchanges accepting bank transfers or credit cards are numerous, but with a certain limit.
BTC purchases via Paypal, on the other hand, are very complicated. Coinbase offers a wide choice of payment options for achat bitcoin via paypal! Which makes it the ideal platform to buy Bitcoin when you start.
Step 4: Buy your Bitcoins and store them in your Wallet.
You will quickly realize that the different trading platforms tell you how much you can buy from Bitcoin (BTC) with a specific fiat amount (EUR or USD). The volatile nature of Bitcoin can cause the price to change drastically from one moment to another.
It means that even if you have a lot of money to invest, you will probably only buy a “fraction” of bitcoin. The trading platform will probably charge you for the transfer… They all do.
Important: your Bitcoin exchange, purchase or shipment may take time. Indeed, each transaction is verified by the blockchain. It often takes more than an hour for a trade to arrive on the target wallet.
Step Five: Be ready to use your Bitcoins
Whether you plan to sell your Bitcoin (hoping it will be profitable) or use it to buy something. Be prepared whatever happens and plan in advance what you want to do… indeed the BTC course moves so fast that you have to be ready.