How to purchase Bitcoin

So you want to dive right in and start enjoying the blissful nature of owning your very own Bitcoin but you have no clue where to begin. Bitcoin can now easily be purchased several different ways:

 

  • Online
    Coinmama allows you to use credit card or cash via Western Union to easily buy Bitcoin.  Coinbase  another very popular website allows you to use your credit card for instant purchase or a bank account that takes a few days to purchase your Bitcoin, this method requires that your identity be verified but once you are setup it is very easy to buy and sell your precious Bitcoin.

 

  • In Person
    LocalBitcoins allows you to hook up with local individuals to buy and sell Bitcoin in person and also facilitates transactions over the internet using cash, credit card, gift cards, etc.

 

How to keep your Bitcoin safe.

It is very important that you understand that when you purchase Bitcoin it is your responsibility to keep them safe. When you purchase your Bitcoin you are the bank and therefor you must protect your Bitcoin yourself.

 

  • Paper Wallets
    by far the safest method is to control the private key with an offline paper wallet. This Youtube video will walk you through the steps of creating an offline paper wallet.

 

  • Online Wallets
    Usually the place you buy your bitcoin will offer a wallet to store your bitcoin.

 

 

Should I sell my Bitcoin?

There are those on the internet that would answer this quest with a firm NO! Although this is good advice,  if you do decide to sell some or all of your bitcoin, the same places that you purchased them will also allow you to sell them. The consensus on most of the popular Bitcoin message boards would advise you to “HODL” or in other words hold or keep your bitcoins and never sell them because some day the currency will be adapted by the mainstream and you would use it just like you would regular money.