Bitcoin is the most popular cryptocurrency, and you can buy it online or through exchanges. You will need to set up a bitcoin wallet if you don’t already have one. You can store your bitcoins on your computer or an online service like Coinbase or Blockchain.com
Bitcoin has been around since 2009, but it only came into public awareness in 2013 when the price per coin spiked dramatically and the number of people who became aware of bitcoin increased exponentially. The main reasons for this are probably Bitcoin’s rapidly increasing value, more trading volumes from exchanges (especially MtGox), and the increase in users of Bitcoin-related services such as Silk Road (a dark web market).
To buy bitcoin fast, you need to set up your wallet.
This will involve downloading and installing a bitcoin client (an application for your computer). Some clients are only for Bitcoin, but some applications work with many other cryptocurrencies (such as Litecoin, NXT, and Ripple).
Bitcoin wallets are created using a unique address that identifies the owner of the wallet. This address is sent to you by a seller of bitcoins, or you can create an address yourself. Once you have received bitcoins at your address (you can check the balance on blockchain.info or blockr.io), you can send them to an exchange where they will be bought and deposited into your wallet.
Some things to consider, before you buy bitcoin fast:
- Does the Bitcoin code meet your requirements?
Some users of cryptocurrencies are attracted to the fact that they do not have a central authority and are not owned or controlled by governments. Others, however, have security concerns when it comes to dealing with an unregulated currency.
- How do you intend to spend your Bitcoins?
Bitcoin is often compared with gold, as it serves as a store of value and is used as a hedge against inflation. If you intend to use your bitcoins to buy goods and services, it makes sense to have a wallet online where you will receive your payments (some services allow you to sell Bitcoins on the Internet). The advantage of this type of service is that it is very easy to trade bitcoins. The disadvantage is that you will not be able to easily use coins in shops or invest them in other digital currencies.
- How to buy bitcoin fast and safely?
Among the advantages of bitcoin, there is a significant disadvantage (although it depends on how you look at it). Bitcoin can be very volatile; the value of a coin may change rapidly and with no prior warning. This does not affect the beginning investor, but it can be worth taking into account if you are a more experienced cryptocurrency user.
Bitcoin is becoming more popular, and therefore it is being subjected to more scrutiny by regulators. The price of bitcoins is also dependent on supply and demand in various countries. For this reason, it may not always be correct to talk about how much a specific price per bitcoin coin is.