People around the world are asking this question “How to buy Bitcoin Online”?. THE cryptocurrency Bitcoin continues to dominate the news as the volatile currency keeps breaking records. Everyone you need to know if you’re thinking of investing in Bitcoin.
How do I buy Bitcoin?
The most common way to buy the currency is to download a broker app such as Coinbase and Blockchain.
These allow users to use a credit or debit card to exchange pounds for Bitcoin.
Users do not have to buy whole Bitcoins and can purchase a small percentage that matches the value of their cash investment.
Once a request is apply, online “miners” will decide whether to approve the transaction.
If get approval, the money will be taken from a user’s account in exchange for Bitcoin.
When selling, users can use the same app to sell their Bitcoin in return for its cash value.
It is also possible to buy Bitcoin directly from sellers on other websites – bypassing the need for a broker.
There are fewer transaction fees in this case, but the process is a bit riskier and more complicate – especially for a beginner.
Investors can also buy Bitcoins by depositing cash at a nearby Bitcoin ATM.
These have been popping up in newsagents and can be found by Googling them or visiting Coin ATM Radar.
Is it safe to buy Bitcoin?
Anyone thinking of investing in Bitcoin or another Cryptocurrency should be very careful.
Their values are volatile, with the ability to plummet as quickly as they shoot up. Every moment the values are changing and New users might lose the money quickly.
And investors are frequently get target by hackers and other criminals who seek to steal their crypto-cash online.
Be especially careful if you are using direct, peer-to-peer platforms to sell and buy Cryptocurrencies.
These are the equivalent of something like Gumtree for Bitcoin – you never know who you might be dealing with.