Everyone is wondering what bitcoin is and how to earn and spend it. Bitcoin is the most well-known and largest digital currency in the world in terms of market capitalization and market share, where there are no intermediaries involved in transactions. Microsoft co-founder Bill Gates strongly believes in bitcoin and says, “Bitcoin is a technological force.”
According to Leon Lou, a Nobel Peace Prize nominee, every informed person needs to know at least about bitcoin, as it could become one of the most significant events in the world.
You can buy bitcoins directly from other users of bitcoins through markets or exchanges, and you can pay for them through cash, credit or debit cards, electronic bank transfers, other cryptocurrencies, PayPal and others.
How then can you buy bitcoin?
Get a bitcoin wallet
This is the very first step when buying bitcoins, as you will need a place to store, receive and send your bitcoins. Different bitcoin wallets provide different levels of security and you can choose the level of security that is best for your transactions. The most popular wallet options
• Wallet software that is stored on your computer’s hard drive
• An online service that is an online wallet
• Multisig wallet that involves the use of many different keys to protect your account and keeps your bitcoins secure and offline
The next step is to top up your Bitcoin wallet and start placing orders.
Where to buy bitcoin
• Localbitcoins: – is the main site for organizing personal transactions and negotiating prices. Its deposit service has made the site popular as it adds an extra level of protection to buyer and seller with a trust rating of A. You can pay for bitcoin through PayPal, cash or bank transfers.
• Coinbase: – This is another popular bitcoin wallet with one of the easiest ways to buy bitcoins. After registration you get a bonus of 5 dollars. It has an A + confidence rating. Use your card or bank transfers to buy bitcoins.
• Wesellcrypto: – This site ranks high and is easy for beginners. It has a trust rating of B + and you can buy bitcoin through your PayPal account.
• Bitquick: – This site is also convenient for beginners, allowing users to buy and accept bitcoin payments using hard currency as well as bank transfers. It has a confidence rating of B.
With bitcoins you can buy goods anonymously; make cheaper international payments because bitcoins are not regulated from any country. The bitcoin market is very volatile, and more and more people are buying them in hopes of making a profit when the price rises.