How to buy Bitcoin (BTC)
Purchase Bitcoin from the source
Bitcoin is an open-source software that has enabled the exchange of a completely new form of money (BTC) over the internet since 2009. You can actually buy bitcoin directly from the source simply by going to the bitcoin website.
Bitcoin was created by an unknown individual or group operating under the pseudonym Satoshi Nakamoto with the goal of providing a “peer-to-peer digital cash system” that eliminated middlemen from online commerce by utilizing public key cryptography and peer-to-peer networking.
As a result, for the first time, money could be introduced into an economy on a schedule independent of any central bank or operator. According to the software’s rules, only 21 million bitcoins, divisible into many smaller units, can ever be created.
Ever.
It is this hard-wired scarcity that makes bitcoin so valuable.
Bitcoin continues to enthrall a new generation of traders who see it as a viable alternative to gold and traditional monies by creating true digital scarcity that can’t be compromised.
Why should you consider buying Bitcoin?
Bitcoin supporters now see the software as an alternative money system that allows users to exit the government economy and reclaim control over their financial assets.
BTC investors, likewise, see it as an alternative to hard assets with limited supply, such as gold, silver, and other commodities.
Where can you purchase BTC?
Purchase Direct
- You can buy it directly from another person, either in person or online
ATM for cryptocurrency
- You can try to find a Bitcoin-accepting crypto ATM near you (not recommended)
Exchange
- Many people find it easiest to buy it through an exchange, such as
If buying from an exchange, find one such as Kraken or Coinbase. Both are rated among the most secure and trusted crypto exchanges in the world.
Both also provide a simple interface and low fees. However, Coinbase is more expensive than Kraken.
Obviously, fees wane in comparison to security. This is significant because it is nearly impossible to recover crypto once it has been lost.
Where should you store your Bitcoin?
When you’ve finished purchasing bitcoin, you should look for a way to secure it. This is best accomplished with a wallet. A wallet is a device or software application that not only stores but also allows you to spend your cryptocurrency.
To keep your digital assets safe, you can use a variety of wallets. Mobile and web-based wallets facilitate frequent transactions. Hardware wallets are best suited for long-term, secure storage. Consider what you intend to do with your tokens when selecting a crypto wallet. A wallet that is best suited to your needs is always the best option.
Final thoughts
This is only a quick guide to how one could quickly buy bitcoin. And we’re not financial analysts and this isn’t financial advice. Do your research and never invest more than you can afford to lose.
The good news is that you have all the tools in the world (most of them free) to help you along the way to financial freedom.
Jay Speakman is a technology writer based in San Francisco, California. He writes on the topics of blockchain, cryptocurrency, DeFi and other disruptive technologies. Clients include Avalanche, Be[in]Crypto, Trust Machines and several blogs devoted to blockchain gaming. He will not rest until fiat currency is defeated.
