How to Start with Buying and Trading in Bitcoins - Quick Start Guide

Are you in search of a Bitcoin quick start guide or wondering where to begin? It is true that the public, in general, have plenty of misconceptions regarding Bitcoin - which is the most accepted and widely known cryptocurrency across the globe.

With the help of https://profitedge.org/ quick start guide, you can find out about a few important things that must be known before safe and secure purchase of this virtual currency.

Get a Bitcoin wallet first

First and foremost, before the purchase of Bitcoins, you need to get a virtual wallet where you should store your cryptocurrency. A Bitcoin wallet is nothing but a string of text which can be used by people to send you Bitcoins; just like an email ID is used to send emails.

There are various kinds of wallets, including those you can download to your computer or phone, online wallets and also cold storage wallets or offline wallets.

Although, it is a fact that most of the users prefer to get a wallet on the PC or the phone. Some of the popular wallets include Xapo, Bitgo MyCelium, Armory and Blockchain.

The process is generally very simple. You just need to download the wallet as an application in your phone. You can download the program to your PC from the primary website of the wallet as well.

Think about where to buy Bitcoins from

You can purchase Bitcoins from various places and each one is slightly different from the other. You can find many online sellers ready to sell Bitcoins directly to you for cash or credit card / Bank wire.

It is possible to find exchanges where you can sell and purchase Bitcoin from others, just like in case of the stock market. Local exchanges are also there, which can connect you with sellers in your region who are ready to sell Bitcoins.

You can also find ATMs where you can purchase Bitcoins from, with the help of cash, and have your cryptocurrency delivered in a no time to your crypto wallet.

Keep in mind that every Bitcoin seller has its pros and cons. For instance, ATMs are excellent if you are looking for a private purchase, but you will get charged as much as 20% atop the existing price - which is of course ridiculous. That means, for the purchase of Bitcoins worth 2000 dollars, you have to pay 400 dollars as charge. In total, you have to pay 2400 dollars rather than 2000 dollars.

Regardless of where you decide to purchase Bitcoins from, you need to do your research properly and opt for a reliable seller with a strong customer service and good reputation. Bitcoin buyers, especially those who are buying for the first time, will be filled with many questions and might require additional support or assistance with the first transaction.

Before you take a decision, take your time and research about the various places to purchase from. There are many important factors that you need to consider - such as customer service, payment method, additional fees, coin prices etc.

Purchase and move BTC to your wallet

After you have found a source to purchase BTC from, you might fund your account with Visa or send a wire transfer. Then you have to wait for a good price offer. The prices of BTC are fluctuating constantly. Therefore, when you are absolutely ready, you should place your order.

After your order is fulfilled, and you get your Bitcoins, you would like to send them to your crypto wallet. Just type in your Bitcoin address and have your Bitcoins sent to you by the seller. Then, you can expect your coins to show up in your crypto wallet in just a few minutes or within an hour, based on how quickly they are sent to you by the seller.

That is how you can become a Bitcoin owner. You can send BTC to pay for other services and goods or keep them in store to use for a rainy day when you are in dire need of funds.

It is important to remember a vital point before you purchase this cryptocurrency. Bitcoin often experiences huge fluctuations in its prices, and it can be quite risky to buy this currency if you are looking for short term profits. It is always a good idea to purchase this digital currency considering the risk factor involved.