It doesn’t matter if you are eight years old or one-hundred-and-eighty-eight years old. There is no right or wrong age to learn how to get started with Bitcoin. If you want to learn about cryptocurrency, everything begins with the Bitcoin.
How to get started with Bitcoin – Before We Begin
If you want to know how to get started with Bitcoin, you should be aware of the following. First, Bitcoin is a digital currency, commonly referred to as cryptocurrency. Second, Bitcoin is able to exist because of a piece of technology called the blockchain, which is essentially a database that exists on every bitcoin-owners computer. It is safe because someone can’t just change the database, since it is on every computer. Third, there are different things you can do with a bitcoin. You can use it to buy things, like cars or other coins, and you can also use it as an investment or trading opportunity.
How to get started with Bitcoin – Step 1
People think it is hard to learn how to get started with Bitcoin. The reality is if you have ever bought something online with a credit card you already know how to get started with Bitcoin. You might not know every detail, but you know the basics, and you’ll learn the rest here.
The easiest way for most people is to go to an exchange like Coinmama or Coinbase. There, you will see how much each Bitcoin costs in your currency. You can buy whole Bitcoins or fractions of bitcoins. Many exchanges will only allow you to buy cryptocurrency if you live in the country where the exchange operates, and will only accept local credit cards, so it is best to find an exchange where you live. Exchanges charge fees for you to make this purchase, and you should read the fine print and compare exchanges.
Choose the amount of Bitcoin that you want to buy, choose your method of payment, and you will instantly see shares of Bitcoins transferred to you. Now you know how to get started with Bitcoin.
If you don’t have a credit card, there are other ways for how to get started with Bitcoin. For example, you can do a bank transfer to the exchange. This usually has a lower fee and is just as a good a way for how to get started with Bitcoin, but there is usually a delay which can range from a few days to several weeks. If you are looking to start now, this might not be the best option.
Once you have the Bitcoin, it will be stored in the Exchange where you bought it until you transfer it to your wallet. There are lots of different types of wallets, which offer different levels of ease of use contrasted by different levels of security. For example, you can have a wallet on your phone which is easy to use, but might be less secure, or a special hardware device which is highly secure, but not that easy to use since it needs to be connected to a computer to work.
Now that you know how to get started with Bitcoin, join our weekly webinar series and see how you can invest your Bitcoins.