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Getting Started: How to Buy Bitcoin Easily

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Cryptocurrency is an exciting new form of digital money, and Bitcoin is the most popular and valuable. If you’re like many regular people or investors around the world, you are interested in getting your hands on some Bitcoin but you aren’t 100% on the easiest way to do it.

As a relatively new technology, naturally, there is a learning curve to using cryptocurrencies. Properties like being ‘decentralized’ mean that Bitcoin doesn’t act quite like real money. To store, buy or sell Bitcoins safely, you need a whole new set of tools and skills. Bitcoin technology is still in its infancy, but with the right knowledge and by taking the appropriate steps, the whole process of buying Bitcoin can be easy, safe, and potentially profitable too.

1. Buy From a Trusted Exchange

There are many ways to get Bitcoin. You can mine Bitcoin with your computer, earn it by playing games or exchange pretty much anything for Bitcoin with people in your community at special-purpose marketplaces.

However, the easiest way by far is to buy it straight from a trusted Bitcoin exchange like CEX.IO. This exchange processes millions of dollars of trades and transactions every day in Bitcoin and all sorts of other cryptocurrencies. With CEX.IO, you will be able to get off the ground and trade Bitcoin for fiat currency quite quickly. You’ll also get some level of protection (unlike with a local trader) and can even pay quickly with your credit/debit card issued by VISA or MasterCard.

Still, to make sure that buying Bitcoin stays easy, check whether the exchange:

  • Accepts your native currency (you don’t want to get hit with multiple conversion charges);
  • Supports your preferred payment method (e.g. card payment, bank transfer, cryptocurrency payment);
  • Is legal in your country and is likely to stay in the future;
  • Is compliant with all laws that might be relevant to your state.

2. Verify Your Account

Most cryptocurrency exchanges require you to verify your identity on your account. This is to make sure that they stay within the bounds of important regulations. These include Know Your Customer (KYC) and Anti Money Laundering (AML). To verify, you’ll need to send photos of your face, along with photos of your identification documents (like a passport or driver’s license) and your payment cards. Don’t worry, this is a standard procedure in the industry, and as long as you choose a reputable exchange, your information should be safe. Do, however, always be on the lookout for phishing scams and other types of scams pretending to be someone else to extract your information.

Once you have verified your account on, let’s say CEX.IO, you’ll be able to buy Bitcoin pretty much instantly. Sometimes without even entering your card information again. You can also upgrade your verification level with more documents to increase your daily and monthly buying limits and thus reduce your barriers to buying Bitcoin even further.

3. Choose An Exchange With Good Customer Support

Whether you’re just starting with Bitcoin or an experienced trader, customer support could be highly valuable down the road. Choose an exchange with a reputation for providing fast and helpful support to its users, especially in times of difficulty. The last thing you want is to be stuck waiting for a reply to your support ticket while your funds are frozen in your account. Do some googling and check out some independent review sites for real customer reviews before setting up an account with any exchange.

4. Secure Your Bitcoin

Buying from an exchange does still carry risks. One of the most dangerous is attackers accessing your account. It’s essential that you set up Two Factor Authentication on your account for whatever exchange you use. If an exchange doesn’t offer Two Factor Authentication, don’t use it!

Storing large amounts of Bitcoin in your exchange wallet is also dangerous. This has been proven multiple times in the past with big scandals like the Mt. Gox bankruptcy, where millions of Bitcoins were stolen from the Mt. Gox exchange servers. Most of the Bitcoins were owned by the users of the exchange, and they ended up losing all the money they had stored there.

There are a few steps to take to make storing your bought Bitcoin easy and to avoid losing your money. Only keep small amounts of Bitcoin on your exchange wallet. Once you’ve built up some savings, move them to your own Bitcoin wallet. If you have a lot of Bitcoin, you might want to consider a hardware wallet for the highest level of security. You also need to keep a safe backup of your private keys.

5. Check You Can Withdraw Your Funds

Don’t overlook how you’ll withdraw your funds in the future. Buying Bitcoin is just one part of the equation. It’s likely you’ll one day want to sell it or withdraw it back to your original currency. It’s essential to look into this before you buy. Some exchanges allow you to buy Bitcoin in many countries but only withdraw in one or a few of those. You don’t want to be in a position where you can easily buy Bitcoin but can’t get rid of. It doesn’t matter how much your Bitcoin grow in value if you can’t cash out.

6. Stay Well-Informed

The cryptocurrency industry is quickly growing and evolving. Make sure you stay informed with updates and changes to the Bitcoin technology, your Bitcoin exchange’s rules and terms, and all laws and regulations that might affect you.

7. Only Buy What You Can Afford

Most importantly, make buying Bitcoin easy for yourself by being smart with how much you invest. Many people have made fortunes with cryptocurrency, but many have also lost everything in seconds. Keep the process easy and manageable by starting off slowly and building your portfolio as you get more comfortable with how Bitcoin and cryptocurrency technology works.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Bitcoin

New Tendencies of Bitcoin Gambling

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Gambling has always been an integral part of human nature. Nothing is sweeter than the money you win, and that’s why wagering games have always captivated people throughout history. Last couple of decades saw the gamblers switch increasingly towards virtual gaming, instead of physically being inside a casino. The popularization of online casinos led to the integration of Bitcoin Gambling into the systems and today a very large share of the casino industry is based on the virtual currency.

Reasons behind the transition

The tendency to switch from classic casino environment was dictated by the fact of mobility and accessibility. But the new age has brought us cryptocurrencies like Bitcoin that revolutionized the gambling business. From now on, the gamblers of the world don’t have to rely on traditional banking transactions to be able to enjoy themselves online. A simple crypto-wallet and ownership of virtual currency is enough to engage in Bitcoin Gambling.

Bitcoin Gambling and Blockchain Technology

The big reason for the heavy shift towards Bitcoin Gambling is the fact that Bitcoin and other cryptocurrencies are based on the blockchain technology. This means that the process is decentralized, resulting in a much faster speed of transactions, when it comes to depositing or withdrawal of funds in or from the casino accounts. It also makes gambling incredibly secure,…

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Bitcoin

Bitcoin will return to the bear market? Bex500 senior investor teaches you how to get profit in the Bear market

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—— Don’t forget to join Bex500 bonus program at the bottom of the article.

Since September, the Bitcoin price has been decline from beyond $10000 to below the $8000, which 20% of the bitcoin value has been removed. The collapse of bitcoin price brings about the new panic in the bitcoin trading market. Many bitcoin investors are scared of the returning bear market as the early of this year. On the contrary, some of the bitcoin-believer, especially the investor who brought Bitcoin in the height of the price still thought that the bitcoin price will rebound very soon. However, it is no doubt that the early stage of the bear market has been shown up in the past month. Many crypto analysts start to predict the bottom price of this market movement.

However, as the market developed, crypto traders have detected more tools to safely pass through the bear market. They realized more ways to avoid the loss of the price decline; moreover, they began to earn profit from the bear market. The key to the tools is the bitcoin futures contracts. We are honored to make an interview with Bex500 senior investor Tom Beck and he introduces the details about bitcoin futures contracts. (Reporter=R, Tom Beck=T)

R: Hi, Tom, Thank you for accepting our interview, Could you introduce yourself?

T: Sure, My name is Tom, I have over…

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