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How to Buy Bitcoins

Before buying bitcoins, you must first secure a Bitcoin wallet. This is a program that you can use to store your bitcoins and make transactions. Blockchain is the most popular site for this since it provides free wallet service. All you have to do is sign up with your username, password, and email address. After getting this done, for only few minutes, your Bitcoin wallet address will be generated.

In learning how to buy bitcoins, you have to check out different marketplaces like Bitcoin exchanges, local trading arena, and over-the-counter marketplaces as each of these have distinct features that may apply to your preferences.

Bitcoin exchanges let you buy and sell bitcoins with fellow users all over the world. Local trading arena, on the other hand, lets you to trade bitcoins with users in your area or region. Meanwhile, over-the-counter marketplace is where you can transact directly with other Bitcoin users without any mediating party.

Steps on How to Buy Bitcoins:

1.)    Open an account in the trading market of your preference. For worldwide users, the most popular is Coinbase. To make an account, you have to fill up the required details of the registration form given.

2.)    Once you have successfully make an account, go to the buy/sell page and enter the amount of bitcoins you wish to buy. Take note that its price is based on the current exchange rate.

3.)    If everything is set, transfer the payment directly to the exchanges’ bank account.

4.)    Several days are needed for the transaction to get done.

5.)    After the transaction is finished, your bitcoins will be credited to your account and you can have them transferred in your personal wallet address.

Should you wish to buy bitcoins from exchange markets, you will need to create an account in the trading market of your preference. Once you’ve set up your account, you will need to link an existing bank account to move funds between it and your new exchange account via wire transfer. This usually entails a fee, so better check the transaction fees first before proceeding to the next step.

After getting this done, proceed to the buy/sell page and enter the amount of bitcoins you wish to buy. Take note that its value is based on the current exchange rate.

Once this is done, you can transfer the payment directly to the trading exchange’s bank account. The process usually takes a few days for the transaction to get done. Once the transaction is finished, bitcoins will be credited to your account and you can have them transferred in your Bitcoin wallet address.

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