You can either buy bitcoins for using these in transaction payments. Another option is that you can invest in them. Once their value appreciates after some time, you can sell and gain a huge amount. Here comes the complete guide for buying and investing in bitcoin:
You require the following two things to buy bitcoin:
- You have to select an exchange from where you want to buy bitcoins
- A digital wallet where you can store the bought bitcoins.
Only in very few countries, bitcoin exchanges are non-functional. These are popular all over the world. Name any country, you can find a bitcoin exchange there. But take care to find the right exchange which is safe and genuine. For example, coinspot is the best cryptocurrency in Australia. In case you sign up with fraudulent exchanges, you are under risk.
In case you live in a country where you cannot directly buy bitcoins, use the P2P exchanges which help in the buying process. You can use your debit/credit card or other modes like online transfer, gift card etc.
You can either store your coins in your own digital wallet or with the exchange itself. But the former option is safe. You have full control over the coins when you store them in your own wallet. You will be given a seed word equivalent to passcode for this purpose.
In the case of physical money, when we lose our wallet, we lose all the money kept in it. But in the case of bitcoins, you can recover those, even if the wallet is lost. All you need is the seed word.
Wallets come in all forms. You can have a desktop wallet, mobile wallet, web wallet or a paper wallet.
Bitcoins are great tools of investment. These appreciate rapidly. The USP about bitcoins is that there can exist on 21 million bitcoins. This makes them more precious. So use the above tips and invest in bitcoins.