Ultimate Guide On How To Buy Bitcoins
Do you want to buy Bitcoins but do not know how? No worries! We’ll teach you how.
Bitcoin has become the world’s most popular cryptocurrency today. Surprisingly, people are becoming more open and acceptable about digital currencies today compared to Bitcoin’s early years. Countries who are experiencing economic crisis have been leaning towards Bitcoin as well because the people believe it’s the best option they have at the moment. Developing and developed countries have been using Bitcoin for years now.
Digital payment methods have become commonplace in today’s data-driven world. Credit cards, debit cards, PayPal and many others like them give people the flexibility to purchase goods and services online in a variety of ways.
There is, however, just one problem with the vast majority of digital payment methods: they leave a trail governments and banks in 2017 can track.
Even if you pay with PayPal, it’s possible to trace your payment back to you. But what if you wanted to pay for goods or services without feeling like big brother is looking over your shoulder?
Worse yet, what if you wanted to purchase a VPN service, but were too scared to do so because there’s a chance that your government would retaliate with fines or jail time?
If you take privacy and anonymity seriously, there is some great news: you can start using Bitcoins as an online payment method.
If you don’t know what cryptocurrency is, don’t worry. We’ll take a step-by-step approach, starting with all the things you’ll need to follow this guide.
What You’ll Need to Follow This Tutorial
You don’t need much to start using Bitcoins. Obviously, since it’s a digital form of currency, you’re at least going to need a computer and some money.
In addition, an Internet connection is absolutely necessary, although it doesn’t even need to be a fast one. You will also need to get a Bitcoin address and an online wallet, as I’ll show you in this step-by-step guide.
Since Bitcoins are a form of currency, having some money is required. The good news is that you don’t even need a bank account or credit card. If you really want to fly under the radar, it’s possible to purchase Bitcoins with a PayPal account.
In summary, the following items are required to follow this guide regarding how to buy Bitcoins:
- Access to a computer, tablet or mobile device
- An Internet connection
- A Bitcoin address and online wallet (discussed in step 2)
- Money to exchange for Bitcoins
One last thing you need to keep in mind before we go any further is that Bitcoins aren’t legal everywhere, some countries have banned their use outright, while others take a more ambivalent stance toward the cryptocurrency. Make sure that owning and using Bitcoins is legal in your country of residence before you get started.
Following is an abbreviated list where, as of January 2017, Bitcoins have been outlawed:
If you find yourself in one of these countries, consider using a VPN to buy Bitcoins.
Step 1: Understand What Bitcoins Are and How They Work
Before we get into how to purchase Bitcoins, there’s a few things you need to understand. First of all, understand that Bitcoins are a type of cryptocurrency and aren’t backed by any central bank.
Bitcoins exist independently outside of traditional currencies like the British pound, U.S. dollar or euro. They first surfaced in 2008, making them just shy of a decade old, and there is still very little known about where they came from and who invented them.