Many people have this misconception that a Bitcoin can only be bought by a tech-savvy enthusiast, who has a deep knowledge of what is happening with the electronic devices. Wrong! You do not necessarily need to be a tech guru or a technologist. Below are few of the simple steps that can help you in assuring that you have invested correctly in Bitcoins.
But before that one simple tip for you would be to build up a library of your research on Bitcoins. Have all the important YouTube videos and PDFs in place so that you have a better understanding of the market and where exactly the boom lies in the cryptocurrency field.
Learn the language
Have you ever thought of buying a house without researching on which location will be the best suitable to your needs, and which one is in your budget? Or have you ever thought of buying a car without understanding its motor or engine or having an idea of its tire? This is exactly how a Bitcoin is. Before purchasing, you should do a thorough research to garner as much knowledge as possible of the industry. Follow blogs and read press releases to be aware of the latest trends.
Many experts give their expert advice on social media for free. Thus, you do not necessarily have to take a subscription for consultation, wherein the consultation can also be obtained for free from the Free State Bitcoin Shoppe in the New Hemisphere. You can also check out the free tutorials which are mostly given on YouTube.
You can also go to free meet-ups – eventIRL, where you will be able to meet experts with years of experience and gather their insights face to face and ask them the questions to solve your queries. If you are a woman you can also join a Facebook group which are especially dedicated to female gender to limit any gross social media comment.
All these ways will help you in building an online resource of free mentorship and knowledge from which you will be able to take the financial decisions on your own and get prepared for all types of circumstances.
Get a cryptocurrency wallet
After researching and gaining knowledge of the cryptocurrency market, the second important step would be to get a wallet. The wallets are available for free and are in both software and hardware format. The most prominent mobile applications that you can download for free are Bread and Trezor, and on the other hand, Trezor and KeepKey work like a USB stick. It is of utmost importance to put your cryptocurrency in a wallet and note down all the account information so that you can be prepared in case of any hacks.
This is really important as there have been many cases wherein people have lost millions of Bitcoins due to misplacing of their account information.
Different ways to get Bitcoins
Getting a Bitcoin will test your patience. Some of the websites like bitFlyer or Coinbase have a very poor user interface, for which you have to go through a lot of paperwork beforehand for identity confirmation which will take a lot of time and going through their complex interface. To tackle these problems many users are now building websites to handle these issues and complains of the users.
This is not it, there have been numerous horror stories wherein the best crypto exchange was shut down or worse, hacked, due to which many people lose their millions of Bitcoins or tokens as these exchanges are not deemed to reimburse the users.
Take Coinbase for example, many users have complained about it not working and only receiving automated emails when contacting the customer support for help. Many users have also lost hundreds of dollars of the amount from Coinbase itself, and the platform alone has approximately 11.7 million users.
If we go a step further, many cryptocurrency exchanges do not even have a customer support service in the first place. All this can be an emotionally exhausting experience if we start to find a correct website of exchange to purchase the Bitcoin.
However, don’t worry, there are many alternative routes than the online websites. For instance, Ethereum creator Vitalik Buterin started by writing blog posts, or many other users swap Bitcoin stashes for a few tokens and food. All in all, you can opt for freelancing services in exchange of Bitcoins, and you have to do this only till you obtain a digital wallet, as post this process anyone can send you a Bitcoin.
The process becomes so easy that if you have a mobile app, a user just has to scan a QR code to swap the Bitcoin. Another way is to use Coinme machines or cryptocurrency ATMs when you do not have an exchange or a friend to help you with.
To summarize, there are three ways through which you can buy Bitcoins. One is engaging in a Bitcoin community. Second is trying your way through exchanges, and the third one which is the least complex of all is ATMs, which will help you to get a cryptocurrency on the go.