Bitcoin was the first cryptocurrency that came into existence. Following which many other digital coins were introduced such as Ethereum and Altcoins. Bitcoin was introduced in order to have a decentralized financial body which would provide transparency to the people hence establishing trust. You will also say “I love truly coins.” If you want to buy bitcoin here is what you can do
- First and foremost you need to choose a wallet and sigh up in it. Downloading a wallet of your choice is the first step. You can either download on your personal computer or on your mobile phones through the app store. Following which you will be asked to fill in your basic details in a form.
- Next step towards buying a bitcoin is to make use of the normal money to buy bitcoin. Upon signing up in a Bitcoin wallet make use of the conventional method of buying through credit card, internet banking or debit card to purchase Bitcoin. You can buy the bitcoins on an exchange that is dedicated to Bitcoin.
- The bitcoins are transferred to the wallet once they are purchased. The interface that helps you buy bitcoins will also have the option to sell them. Not only can you buy and sell Bitcoin, but also other types of cryptocurrencies as well.
- One thing to remember is that the Bitcoin wallet is different from Bitcoin exchange. A wallet is where bitcoin keys are stored whereas an exchange is where you buy the bitcoins and also sell them.
However, it is a common misconception that wallets are used to store bitcoin, but this is not true because the wallet is the place where public keys and private keys of Bitcoin are shored. These keys are nothing but a long series of number and alphabets which are linked with each other with a mathematically encrypted algorithm which will be used as needed to create bitcoins. Bitcoins are physically not stored anywhere.