How To Buy Bitcoins
A Quick Way to Get Bitcoins
A Bitcoin exchange is the fastest and most secure method to obtain Bitcoins. It connects the buyers with the sellers in a secure manner.
There are many different exchanges online, each with varying amount of users, trading volume and fees.
Step 1 – Create an Account
The first step is to select a Bitcoin exchange that is right for you, this may require some homework on your part as everyone’s situation is unique. Each exchange charges different fees for deposits, withdrawals, trading commissions and make use of different funding options. It is recommended that you take the necessary steps to secure your online account as much as possible.
Step 2 – Sending Funds
There are a variety of payment options that you can use to buy Bitcoins with. Much like choosing an exchange, selecting a funding option depends on your unique circumstances.
Step 4 – Place Bid to Buy Bitcoins
Now comes the fun part, engaging in trading. There are two techniques used when it comes to trading. The first one is for people who want to get Bitcoins in their possetion as quickly as possible. If this sounds like you, simply check the Market Order box which will automatically place the bid at the lowest possible selling price. Type in the amount you wish to purchase or the total amount you are willing to spend, the system will do the math for you.
The second option is for people who are into speculation. You can use various Bitcoin charting tools to look at market trends to help predict the direction the price is moving in. If you are able to accurately predict the direction the price is moving in, then you would be able to purchase and sell Bitcoins at the most optimal price. Just remember, they call it speculation for a reason, its never a sure thing.
Step 5 – Transfer Bitcoins to Wallet (Optional)
The final step is to transfer your acquired Bitcoins to your secured wallet. This step is option however it is recommended as there have been cases of breaches online, there is also some instances where exchanges go offline for a while in which accessing your Bitcoins is impossible.