Introduction: Bitcoin is a decentralized digital currency, which can be bought, sold or traded like a commodity through electronically. It is different from the US dollars because uses technology to operate. Bitcoin and cryptocurrency are actually powered by a technology called “ Block Chain” technology. It helps in the transaction of money from one place to another in the world.
Where to buy bitcoin? You can buy the bitcoin from the people directly or by using website, marketplaces, digital currency exchange or through the broker such as coin base, Bit stamp, Kraken and gate hub. Coin base is one of the best and biggest cryptocurrencies used as an exchange. You only need is wallet which can store your bitcoin currency safely learn more about it
There are two types of wallets, Hardware and Software wallet.
Software wallet: It is used to connect your bank account. Coin base offers you wallet, which is highly secured and convenient that connect directly to its exchange services. Some other wallets are in use like mycelium, as well as electrum.
Hardware wallets: It helps to store the user’s private keys on hardware devices, which looks like a flash memory stick. The private key which is nothing but a secret number, that gives access to your bitcoin account. People who use big considered that hardware wallets are secured because they are disconnected from the internet, so hackers cannot steal the bitcoin from internet connected computer or devices.
Steps to access bitcoin:
Step 1: open your account by creating a wallet, through a third party like coin base, mycelium, exodus or bitcoin. Go to the official site, sign in to your account using mail I’d and password.
Step 2: download the application, if you have chosen software wallet. Go to the App Store or google play, depending upon the IOS or Android devices. Few wallets are designed only for desktops, some of the others are better for mobile devices.
Step 3: register your account for an exchange only you need is a name, email address, password. You have to connect your bank account with your wallet for further bitcoin purchase. This app will help you to buy and trade bitcoin as well as to store them.
Step 4: next step is to buy section, you can choose the amount of bitcoin to buy. Bitcoin is divided into eight decimal points. Depending upon the exchange value, you can buy bitcoin by using credit or debit card, through bank transfer, or even through a cash.
Enjoy your trading!