The Complete Guide For Buying And Selling Bitcoin

The Complete Guide For Buying And Selling Bitcoin

In the last few years, the concept of Blockchain has received a tremendous amount of press and analyst attention. This is primarily because Blockchain, as a whole, holds significant potential. We can feel out that blockchain all of a sudden is everywhere around us — what started off initially as an academic idea is now the backbone and foundation of cryptocurrencies worth hundreds and thousands of billions.

The significance of Blockchain can be evaluated from the fact that the United States Senate had a public discussion recently about cryptocurrency, the most prominent application of blockchain. Furthermore, the search requests of Google for the keyword “blockchain” have increased exponentially by as much as 250 percent.

In this guide from Bitcoin LVX, we will be accessing every possible detail about buying and selling Bitcoins.

How To Buy Bitcoins

You will be required to set up a bitcoin wallet before you can purchase bitcoins. This wallet can be referred to as a virtual storage center, similar to your cash and credit cards.

You can choose from a wide range of wallets such as Coinbase that is characterized by an easy-to-use application. This free and widely used online bitcoin wallet helps you buy, exchange, sell, and trade bitcoin. Coinbase is one of the first choices of bitcoin investors across the world. This is primarily because the entire process is simple and user-friendly and Coinbase has the venture backing and the largest volume of trading. Alternatively, you can try out Electrum that is considered as one of the best bitcoin wallets and ideal storage options for investors. It provides an extra layer of security as it is software based, and not online. You can even try out the Cold Storage wallet that permits you to store bitcoins in an offline mode.

It is worthwhile to note here that some bitcoin investors prefer to keep their information about bitcoins on a USB locked that finds a place in a safe and secure deposit box. On the other hand, some bitcoin investors prefer a paper wallet that can be classified as a document including all of the required data for generating limitless Bitcoin private keys. You can even purchase Bitcoins with cash, debit and credit cards, or even wire transfers. You may even decide to accept bitcoin as a payment for products and services offered by you. It is important to mention here that the largest derivatives exchange in the world, CME Group, has now made it possible to trade in bitcoin futures. It was also recently reported by Bloomberg that a bitcoin trading desk is expected to be launched very soon by Goldman Sachs.

If you want to trade in bitcoins, you can seek the assistance and services of exchanges such as Bitfinex, Bitstamp, Kraken, etc. Alternatively, you may trade bitcoins directly with other bitcoin investors and enthusiasts.

It is highly recommended that you read and understand the complete terms and conditions associated with bitcoin purchase and sale on a website so that you always make an informed decision.

Note: There is No “ How to Sell Bitcoin” section