How Can I Buy Bitcoin?

How can I buy bitcoin?

Bitcoin can be bought an exchange, or directly from other people via marketplaces.

You can pay for them in a variety of ways, ranging from hard cash to credit debit to wire transfers or even with other cryptocurrencies, depending on who you are buying them from and where you live.

1. Set up a wallet

The first step is to set up a wallet to store your bitcoin. You will need one, whatever your preferred method of purchase. This could be an online wallet, a desktop wallet, a mobile wallet or an offline one.
The most important part of any wallet is keeping your keys and/or passwords safe. If you lose them, you lose access to the Bitcoin stored there.

2. Open an account at an exchange

Cryptocurrency exchange will buy and sell Bitcoin on your behalf. As with wallets, it is advisable to do some research before choosing.

3. Choose a purchase mathod

Platforms such as localbitcoins will help you to find individuals near you who are willing to exchange Bitcoin for cash. Also, Libertyx lists retail outlets across the United States at which you can exchange cash for Bitcoin. And wallofcoins, paxful and bitquick will direct you to a bank branch near you that will allow you to make a cash deposit and receive Bitcoin a few hours later.

ATMs are machines that will send Bitcoin to your wallet in exchange for cash. They operate in a similar way to bank ATMs - you feed in the bills. Hold your wallet's QR code up to a screen, and the corresponding amount of Bitcoin are beamed to your account. COINATMRADAR can help you to find a Bitcoin ATM near you.

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