Investing in Bitcoin can be a little confusing, but it does not have to be that way. It’s a lot easier than you may think, and with the help of this quick guide, you’ll know exactly how to buy Bitcoin and how simple it can be!
Can You Tell Me More About What Bitcoin Is Exactly?
Bitcoin began as the first cryptocurrency established. It is a decentralized digital currency that can be exchanged like currency, but through cryptography.
Owners of Bitcoin are anonymous, as no social security numbers, account numbers, or other identifiers are connected to owners.
So, if Bitcoin Owners Are Anonymous, How Does It Work?
When you invest in Bitcoin, you are given an encrypted, private key. This key serves the same purpose as an account number, so you’ll want to go to great lengths to protect it!
I’m Ready to Learn About How to Buy Bitcoin! What Do I Do First?
Before you can purchase Bitcoin, you need to first set up a digital wallet. There are a few types available:
- Hosted is the easiest to set up, and it means a third party holds your crypto for you.
- Self-hosting gives you complete control of your cryptocurrency.
- Hardware wallets are an actual physical device sort of like a thumb drive that stores all of your Bitcoin information offline.
Before you make your decision, be sure to do your research. Each type of digital wallet has its pros and cons.
Next, Make Sure Your ID Is Valid
To buy or sell Bitcoin, you need a current license or government issued ID. If you purchase large amounts of Bitcoin, you’ll very likely need to verify your identity.
You Will Also Need a Cell Phone
You need to be able to verify your account through your cell phone. You’ll also need to scan your wallet code at an ATM.
Last Step – Have Cash!
If you are using an ATM, you may not want to use your bank account or credit card to buy Bitcoin, so have cash readily available.
Blackswan Bitcoin is Here to Help You!
We are committed to making the process of buying Bitcoin easy and have many convenient kiosk locations for you to do so. Don’t wait any longer to make this investment into yourself and your future!