This guide will show you how to buy bitcoin.
Get a wallet To buy bitcoin, you must first get a bitcoin wallet i.e. a place where you will store your bitcoins. Bitcoin wallets are simply bank accounts for bitcoins. There are different kinds of wallets offering different security levels. Your main options include; a software wallet stored on your computer’s hard drive, an online web-based wallet and lastly, a “vault” service wallet which stores your bitcoins safely offline or in a multisig wallet which utilizes keys. It is important to note that all these wallets have their vulnerabilities although the third option is the safest. Online wallets are more vulnerable to hacking. Offline wallets may also lose your bitcoins if your hard drive becomes corrupt and you haven’t written down your secret key phrase.
Find a good bitcoin exchange There are many exchanges competing for business. Exchanges are simply marketplaces for bitcoins that allow people to buy and sell bitcoins, and other cryptocurrencies, using different currencies. Some exchanges are just for institutional bitcoin traders while others are simply wallet services with limited buying/selling capabilities. Many Exchanges have stopped taking US residents due to the US government cracking down on them. Exchanges are important when you are buying bitcoins for regular trading and speculations and also if you don’t require total anonymity.
Since there are many exchanges today most of which aren’t good, it’s important to choose wisely. The best exchange for you will depend on many factors including location. You should, however, stick to large renowned exchanges such as BitBay because they have been tested and proven and also because they offer the best and most flexible trading and payment options. Large exchanges are also the most liquid, so it’s easy to get your money back at any given time.
List of bitcoin exchanges:
Once you have made a bitcoin wallet. You are ready to buy bitcoin. For this example i will be using paxful.com. Once you have made an account on paxful, there will be a long list of different payment methods you can buy bitcoin with. Here are just some, Venmo, Cashapp, western union, gift cards, and bank transfer.
Once you have found the payment method you will be using. Search the amount you would like to buy and the way you will be paying. There will be a list of traders who most of the time are online. Once you have found a trader, you will send him any infomration regarding payment. Once trader has accepted your payment. Paxful will release your bitcoins into your paxful wallet. Once your bitcoins are in your wallet, you can send the amount to the desired address on your account page after order.
lthough it is advisable to buy bitcoins via exchanges, there are other options you can consider as well. These options include; Over-the-counter (OTC) or face-to-face trades This option is the easiest to follow when you prefer anonymity, live in a city, or you just want to avoid banking hassles. Using this option is easy. Such transactions are arranged as well as negotiated via LocalBitcoins. The website also offers escrow services to protect both parties. When using this method to buy bitcoins, it is however advisable to meet your local seller in a public place. Local Bitcoins: https://localbitcoins.com/ You should also take all the necessary precautions when carrying a lot of cash. It is also worth noting that you need to have access to your wallet and confirm the transaction. A laptop, tablet or Smartphone with Internet access will help you do that perfectly. In case you aren’t comfortable with one-on-one trades, you can use sites like meeetup.com to find bitcoin meetup groups within your area. It’s also worth noting you might pay a higher price than the current exchange price for OTC or face-to-face trades. It’s therefore advisable to negotiate beforehand to ensure you get the best price possible.
Buying via investment trusts You can also buy bitcoins through investment trusts like The Winklevoss ETF or Bitcoin Investment Trust. These trusts invest exclusively in bitcoins using high-tech protocols to store bitcoins on behalf of their shareholders. This option is however, open to serious investors only who want to invest a large amount of money.
Bitcoin ATMs You can also buy bitcoins from bitcoin ATMs. Although this option is relatively new, bitcoin ATMs are increasing in number. Using this option is easy. You just need to insert cash into the ATM and scan your Bitcoin mobile wallet QR code. You also have the option of receiving a receipt with codes that allow you to load bitcoins into your wallet. To use this option effectively, check the bitcoin ATM map periodically. You should also be on the lookout for the latest ATM updates/news. Find a Bitcoin ATM near you: https://coinatmradar.com/countries/
If this guide has helped you buy bitcoin, go ahead and purchase your fake ids.