I hope you watch the three videos on getting started with bitcoin. Now that you have a better idea of what bitcoin is and how it works, now you can look at acquiring your first bitcoin.
At this point depending on the country you live in, there are only so many ways to buy a bitcoin.
The two most commonly used options are:
#1: A web-based bitcoin wallet
#2: Local bitcoin reseller or website
TRUST Bitcoin Sources (again Do You Own Research on these)
#1: CoinBase.com – The#1 source for bitcoin purchasing worldwide (Based in the US)
Let’s start of with the most important conversation about bitcoin and digital assets – they are not protected by a bank.
UNDERSTAND THIS POINT: NO BANK IS PROTECTING YOUR BITCOIN
What does that mean for you? You need to think about security and you need to build trust with anyone you plan on dealing with when it comes to your crypto-currencies.
Don’t just download the first bitcoin wallet and purchase some coins. You will lose them or have them hacked from you in 12 months.
It’s important to only put your bitcoin where it is safe and you have trust with the party you are dealing with.
Now do some local search in your country for:
buy bitcoins with credit card
Once you get some options, do another Google search for each provider/app you found:
<provider/app name> customer reviews
ie. coinbase reviews
So you can find out what the average person is experiencing with this provider/app, before you stuck downloading and providing all your information.
I can’t stress enough, there is no safety net here. No bank to complain too when things go wrong or takes hours, days or weeks to fix. So don’t send your money to anyone you don’t fully trust.
Now that also works in reverse, which leads to me to explain KYC – know your customer – laws and what they are used for.