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Did you know, right now so many people are buying and using Bitcoin that the network is actually experiencing unexpected delays? With mass adoption comes a surge in demand for a comprehensive wiki on how to buy Bitcoin and store it safely. A to Z of all you need to know before getting those first Bitcoins. I have the best tricks and tips to get you purchasing like a pro.
Know the pros and cons of each payment method. Credit cards allow for speedy purchases, while bank transfers offer the cheapest rates. Choose from the best sites to buy bitcoin. Exchanges are legally obliged to check your ID and location.
Having the required documents ready will speed up the time needed to validate your account. Investigate whether your exchange meets standards. I’ll show you how to diligently assess any crytpocurrency trading site. Select a wallet to safely store your cryptocurrency. Online and offline wallets offer their respective conveniences but differ vastly in terms of safety. As you have seen, it is relatively easy to learn by testing a couple of different places and then deciding the most appropriate service for your needs.
Once you have tried and tested your favorite site, then the process becomes more straightforward. The learning curve is not that steep anymore. For those interested in alternative cryptocurrencies to bitcoin: these can be very promising, but there are some elements to consider. Should you have some extra time, I highly advise taking a moment to read the history of bitcoin which is actually quite interesting indeed. You may also like to take a look at the price history charts to have an idea of the important exchange rate evolution since Satoshi Nakamoto created it in late 2008. As a final note, I really recommend taking an active interest in the technology behind cryptocurrency, being the single most important innovation since the internet was invented.