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Looking for a Bitcoin Buying Guide? Wondering how to start? People have plenty of misconceptions about bitcoin - the 1st widely known and accepted cryptocurrency worldwide.

A lot of people think for instance that only hackers and shady people use it. However bitcoin is actually going mainstream with everyone from TigerDirect to Expedia.com to Dell and even Subway accepting payments in bitcoin now.

Why so popular?

Well, bitcoin has a lot of benefits over other currencies. For example, you are able to send bitcoins to someone as payment without having to feel the bank middleman (and get hit with extra fees). It's also much faster than sending money with a bank wire or transfer. You can send bitcoins to someone and keep these things receiving the coins in seconds.

With this, it's no surprise that lots of people are now trying to purchase bitcoin for the first time. However it's never as easy as planning to your bank and withdrawing bitcoins - or going to a store and plunking down some hard-earned cash for bitcoin.

The system works a bit differently than that. This Bitcoin Buying Guide should go over two things you have to know before you buy - so you can get safely and securely.

To start with, while the price might be over us per coin, you don't have to buy a whole bitcoin. Most places allow you to buy portions of a bitcoin for as little as So you can start off small and go from there as Bitcoin ATM  you obtain more confident with the way things work.

Secondly, this short article is for general purposes only and not to be studied as financial advice. Bitcoin may be risky and prior to making any purchase you must consult with your financial advisor to see if it's right for you.

So listed below are 3 easy steps to buying Bitcoins:

The very first thing to accomplish before you decide your coins is to obtain a virtual wallet to store your coins. This wallet is a string of text that people can use to give you bitcoins.

There are a number of various kinds of wallets including ones you download to your phone or computer, online wallets and even offline, cold storage wallets.

A lot of people prefer to get a wallet on their phone or computer. Popular wallets include Blockchain, Armory, Bitgo MyCelium and Xapo.

Usually it's as simple as downloading the wallet to your phone as an app or downloading the software to your computer from the wallet's main website.

There are several forms of places to get and each one is just a bit different. You will find online sellers that will sell you bitcoins directly for cash (or bank wire or credit card).

There are exchanges where you could buy and sell bitcoins from others - similar to an inventory market. There are also local exchanges that link you up with sellers in your area looking to sell. There's also ATMs where you go to purchase with cash and get your coins brought to your wallet in minutes.

Each bitcoin seller has their benefits and drawbacks. As an example ATMs are good for privacy, but they'll charge you as much as 20% on the top of current price, that will be ridiculous. ! So you're paying.

Irrespective of where you determine to buy, remember to complete your research and opt for a dependable seller with a good reputation and strong customer service. First time buyers will especially have questions and may need the additional support to greatly help them with their first transaction. Invest some time and research the various places to buy when you decide. Factors to take into account include coin prices, extra fees, method of payment and customer service.