How To Buy Your First Bitcoin!

How To Buy Your First Bitcoin!

You have heard all of the good news about bitcoins – how its value keeps on rising, and how it will become the future of currency. Now, you wanted a fair share and wondering how to get your hands on these cryptocurrencies that are currently shaping the financial world. You worry that $5600 per bitcoin is too heavy for you, so you search Google how you can start. Well, this post is made for those who wanted to buy bitcoins, and it will explain how to obtain bitcoin and where can you possibly get them to start investing for your future. How to buy bitcoin?

Here are your options:

Buying Bitcoin from Miners

Mining is the first phase in obtaining a bitcoin, and as of today, there are hundreds of bitcoin mines across the world. To get your first bitcoin, you should go where bitcoin is being mined. Search for the nearest bitcoin mine in your area and talk to the person in charge or the owner. Ask them if they can sell their bitcoins to you. Sometimes, it should work, especially if you offered them a fair deal. Bitcoins coming straight from bitcoin mines have lower pricing, because there are no third party applications involved, and the contract is only between you and the mine operators. Buying bitcoin directly from miners is possible, but you have to remember that there is also a chance that this option will fail.

Buying Bitcoin from Traders

Traders are those who own shops that accept bitcoin as a form of exchange. You could visit a nearby store which takes bitcoin as a form of payment and asks them if they wanted to sell their bitcoins for a price. Some shops would accept the offer, but some would not. You just have to be patient to find the perfect store that is willing to trade their bitcoins for cash. However, the exchange might require you to pay higher than that of the mine operators, because the shops also need to profit from selling their bitcoins. You can negotiate for the price, and see if the store will agree.

Buying Bitcoin from ICO Applications

There are applications uploaded online which allows users to deposit their cash and convert it to an electrical wallet and exchange it for bitcoin. This is by far the easiest way to get hold of these cryptocurrencies, and it does pays off. All you have to do is to read online reviews about these applications and choose the best one for you. After you have downloaded the app, just visit a bank or a convenience store where you can deposit your money and have it translated into electrical money.

Once the amount shows up in your e-wallet, you could have the option to exchange it with bitcoins, and wait for its value to rise. Despite its accessibility to everyone, buying bitcoin from ICO applications is also the most expensive way to obtain bitcoin. Companies running these ICO applications need to gain profit, so the selling price of bitcoin is lower than average, and the buying price of bitcoin is higher than usual.