Your Go-To Guide to Buying Bitcoin Online
As strange as it may sound, we have 2009’s Global Financial Crisis to thank for bitcoin. This cryptocurrency quietly got deployed, and ignored, against a background of banking failures and governmental bailouts. Just a short while later, we seem to have come full circle. Quantitative easing, some of the lowest interest rates ever seen, and further salvaging of well-established companies is again the norm.
There’s now an increasing awareness of the unique position that BTC holds when it comes value proposition and this cryptocurrency’s situation in this macro environment. Some people are likening it to the role that gold enjoyed back in the 1970s.
If you’re brand-new to the world of bitcoin, it can be a bit overwhelming. In fact, it can be intimidating even if you know a little bit about it! That’s why Buy Bitcoin Instantly exists. We are a team of experts here to break the process of buying and storing this cryptocurrency down into easy-to-digest nuggets of information.
Join the new gold rush. Buy bitcoin.
What You Need to Start
The preparation stage of your entry into the world of bitcoin requires that you have certain things. The first is a cryptocurrency exchange account, the second is the appropriate personal identification documents. The third is a secure internet connection, and the fourth a method of payment.
We also recommend that you open a personal wallet outside of the exchange account you’ll be using. Our reviews and articles will help you with all aspects of purchasing and securely storing BTC.
Choosing an Exchange
When you have opened an account at a cryptocurrency exchange, you’ll be able to buy, store, and sell bitcoin with ease. We advise that you select an exchange that allows you to withdrawal your bitcoin to your own personal wallet for added security. Check out the reviews we’ve got available on these exchanges for this information, as there are many at which it’s not possible.
Connecting a Banking Method
When you’ve found an exchange that fits your needs, you’ll need to gather your ID documents together. Depending on the exchange, this could include your driver’s license, national identification or social security number, who you work for, and proof of a source of funds.
Placing an Order
With all the preparatory work done, now you can start buying BTC!
Digital wallets are places to store your digital assets properly. Although the majority of exchanges also provide their users with wallets, they’re not in the business of securing them, so can be somewhat lacking in this department. This is why we recommend that you don’t use these spaces for long-term storage.
We’re here to help you choose between these options and counsel our readers to set up their wallets to have three things:
An exchange account for buying and selling.
The Buy Bitcoin Instantly team brings many years of experience to the table and does all the research, investigation, and checks required before signing up and transacting with real money at a website. Reading the reviews we’ve put together will help you choose the exchange that best suits your needs and you’ll be able to relax in the knowledge that you’re dealing with a licensed entity that won’t defraud you.
We check KYC and AML, ensuring that the exchanges we recommend are compliant with the laws and regulations pertinent to their location. We assess its reputation, double-check its security and can give you accurate information on fiat exchange rates, insurance funds, leverage trading, prices, and volume, to name just a few aspects.
A cold hardware wallet to store bigger holdings for longer periods.
The best way to describe a cold hardware wallet is that it’s not connected to the ‘net, so you don’t have to worry about hacking. They store your private keys on a device not connected to the internet and can be found with software that works along these lines. So you’ll be able to view your portfolio without putting your private key in danger.
Paper wallets are probably the most secure way to store your bitcoin offline. These can be generated off certain sites and produce two keys, one private and one public, which you can print out and store safely. It’s not possible to access the bitcoin in these addresses without the private key so you’ll find that some people laminate the paper wallet and keep them in a safe at home or in safety deposit boxes at the bank.
These wallets are very high-security and are perfect for long-term investments because you won’t be able to instantly access your BTC for selling or trade.
A hot wallet to keep small-to-medium amounts of bitcoin that you’re going to be trading with or selling.
Hot wallets rely on the internet and you’ll access them via desktops, smartphones, and tablets. This practice is innately more vulnerable because the wallets create private keys to your coins on these devices. As convenient as they are when it comes to accessing and transacting quickly, keeping your private key on a device connected to the internet does make it more likely to be hacked.
Hot wallets can be likened to a chequing account. Standard financial wisdom says that you should only keep the money you’re going to be spending in your cheque account, putting the rest in investment and savings accounts.
Popular Ways to Buy Bitcoin
There are many ways that you can safely purchase bitcoin before you get started at the exchanges we recommend. Some of the methods our readers prefer include:
- Bank transfer
- Credit cards like MasterCard and Visa
- Debit cards like Maestro
- Single Euro Payments Area
- Ewallets like NETELLER, PayPal, Skrill
We’ve got data on all these methods and so much more, so make sure to bookmark our site.
At the end of the day, bitcoin is not just the most widely adopted cryptocurrency in the world. It is also a very dependable value store and an excellent asset as an investment with a much more long-term appreciation potential than cash holdings. And we’re here to ensure that you have all the support you need to get active – and get rich.