WANT TO KNOW HOW TO BUY BITCOIN
Well I can tell you about Coinbase. Coinbase makes it easy to convert dollars and any currency really right into and out of bitcoin (BTC) any time any day of the week 24/7……
You’ll need to learn about how to buy bitcoin and store it securely in a wallet but it’s not that hard…
Sign up for Coinbase here
So what’s the first step to get signed up??
First step is to sign up for a Coinbase.com account. When you start with $100 you’ll receive $10 FREE in Bitcoin and who doesn’t like FREE Bitcoin…….This account is similar to a stock trading account, it gives a secure place to store your bitcoin (BTC), and easy payment methods to convert your USD into or out of bitcoin.
Buy and Sell Bitcoin
Once you start your first purchase, the fine folks over at Coinbase.com will complete your buy and will deliver your bitcoin (BTC). When you’re ready to sell it works the same way but in reverse. The price of bitcoin or BTC as it’s called on the streets changes over time all the time 24/7….the markets never close. Your account will show you the current exchange rate before you buy or sell….
Have fun and buy the dip if you are so compelled because I’m not a finical adviser and offer no stock or cryptocurrency advice in any way.
What the heck is Bitcoin?
Bitcoin or as mentioned earlier “BTC” is a decentralized digital currency……what the heck is that??
That would be money that doesn’t belong to or controlled by any governments or central banks….
Bitcoin was invented in 2008 and since then has gained a huge market cap that jumps up and down every day. Today it’s estimated that millions of people around the world are using Bitcoin as a store of wealth, investment vehicle and an actual currency for exchange.
Where can I store Bitcoins?
Bitcoins can be stored inside of a Bitcoin wallet…….Just like you use a stock trading account (i.e. TDAmeritrade or your favorite stock hosting company), you will also need a Bitcoin wallet to help manage your Bitcoins……
A bitcoin wallet can help you send, receive and store Bitcoins as you choose.
Bitcoin wallets can come in many forms…..such as mobile wallets, desktop wallets, web wallets and hardware wallets.
Where ever the wallet is installed (e.g. your mobile phone) that’s were your Bitcoins are stored.
What can you buy with Bitcoins?
Anything….There are many uses for Bitcoin currently. For example, Bitcoin could be used to pay for shopping online at some of the biggest and smallest sites. For example Overstock just announced they would be the first major online retailer to accept BTC, some other sites like Expedia and Microsoft and more every day!
As Bitcoin becomes even more mainstream and more and more companies continue adopting Bitcoin as a optional payment method to the standard conventional currencies.
There are several countries around the world like Venezuela that are experiencing financial turmoil and in most of the cases the citizens end up getting hurt the most…..
Bitcoin can be alternative to the current banking system and allows a person to be in more full control of their money without a need for a physical brink and mortar bank building.
Do you receive change for less than 1 Bitcoin?
On any given day, each Bitcoin can be worth a lot and lot of money. Thankfully Bitcoin can be divided up to 8 decimal points…..this is something you don’t hear a lot of people discussing in detail just how many decimal points BTC can be divided up to….
Meaning you can buy 0.75 Bitcoins, 0.03 Bitcoins or as small of a transaction you can have: 0.00000001 Bitcoin also sometimes referred to as a Satoshi. Which we will discuss in a later post….
Check back each week for more Bitcoin Blockchain Cryptocurrency news and information.
We are constantly reviewing Bitcoin products and will update this list with other top rated Bitcoin products in 2018.
Want to figure out what Bitcoin all about?
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