Bitcoins are the craze all around theglobe at this point. It is a digital currency that does not exist in physicalform and is created and held electronically. Bitcoin came into existence in2009 and was created by software developer Satoshi Nakamoto. The best partabout Bitcoin is that you don’t need anything but an email address to set up a Bitcoin account means that buying and selling Bitcoin is completely anonymous.
Bitcoin mining was one of the mostpopular ways of getting bitcoins until a couple of years back. But as more andmore bitcoins were mined, the total number of bitcoins was restricted to 21 million.
The other major way to buy bitcoinsis to buy them off exchanges. There are many bitcoin exchanges all around theworld. People can buy bitcoins from such exchanges using fiat currencies like the dollar or the euro or by using other cryptocurrencies as well.
There is also a bitcoinmachine that has been launched in a few parts of the world, and peoplecan buy bitcoins.
- The
most common method to buy Bitcoinis Bitcoin exchange. This is one of the most convenient ways to buy and sellBitcoins for any traders. You have to follow these steps:
Open a Digital Wallet: A digital wallet is where you hold your cryptocurrencies and interact with others via blockchain technology.
- Register & Open an Account: Once you enter any bitcoin exchange, you have to open an account that can provide you with their service.
- V
erification: When your account is opened, you have to verify your account to avoid any kind of fraud. You have to provide the required documentation to activate your account.
- Pu
rchase Bitcoins: After your registration, you can easily buy Bitcoins and other cryptocurrencies. You can also choose the payment option which is more convenient for you.
- When
looking to buy Bitcoin, it isstrongly recommended that the Bitcoins purchased are not stored on the exchangeonce purchased and that the Bitcoins are kept in a wallet created by the buyer.A wallet is essentially and allows the owner of the wallet to send, receive andhold Bitcoins.
Bottom Line
Buying and selling Bitcoins is not an uphill task. You only have to finda reliable exchange for you so that you can easily buy and sell Bitcoins orother cryptocurrencies.