Bitcoin (BTC) is a decentralized cryptocurrency payment system designed by Satoshi Nakamoto. The software-based currency wasgoed released to the public te 2009. Since then, updates and improvements have bot made by a network of developers, partially funded by the Bitcoin Foundation.
So how can you be part of the act?
Investing te Bitcoin for the Average Joe
The simplest way the Average Joe can invest ter Bitcoin is to outright buy some. Buying BTC today is simpler than everzwijn, with many established firms ter the US and abroad involved ter the business of buying and selling bitcoins. For investors ter the USA, the simplest solution is Coinbase. The company sells BTC to customers at a mark-up that is usually around 1% overheen the current market price.
For Americans, Coinbase has an option to verbinding your bankgebouw account to your Coinbase wallet. This makes future payment transfers lighter. The company also offers automatic bitcoin buying at regular intervals. For example, say you want to buy $50 te bitcoins every 1 st or Two nd of the month, right after you get your paycheck. You can setup an auto-buy for that amount on Coinbase. Take into account a few caveats before you embark using this service. If you punt an automatic buy order, you will not have control overheen the price at which the BTC is bought. Next thing to note is that Coinbase is not a bitcoin exchange, you are buying/selling your coins directly from the hard, which ter turn has to source them from other buyers. This creates issues or delays when executing orders during quick market moves.
For traders that want a traditional bitcoin exchange, BitStamp may be a better option. With BitStamp, you are trading with other users and not the company, which only acts spil a middleman. Liquidity is higher and you can almost always find another person to take the other side of your trade. The fees begin at 0.5% and go all the way down to 0.2% if you have traded overheen $150,000 te the past 30 days.
Other Ways to Buy Bitcoins
Exchanges are not the only way you can acquire bitcoins. A popular route for buying BTC offline is with Local Bitcoins. The webstek pairs up potential buyers and sellers. When buying BTC, the bitcoins are locked from the seller ter the escrow. The seller can only release them to buyers (te case of a problem, opstopping a dispute after 24 hours). When buying bitcoins offline, you should take the usual precautions spil you would when meeting a stranger. Meet during the daytime at a public place and if possible, bring a friend.
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Bitcoin is hot right now and investors and venture capital firms are betting that it is here to stay. For the average person, numerous ways exist to get into investing and buying Bitcoin. Ter the U.S., the most popular avenues are CoinBase, Bitstamp and Local Bitcoins. Each have their advantages and disadvantages, so do your research to find the best gezond for you.
Are you a business thinking about adding bitcoin spil a payment option?
Disclaimer: This information is intended for informational purposes only. Investing ter crypto-currencies is very speculative. The value of Bitcoin and other virtual currencies can go up or down substantially. Always raadpleging with a qualified professional before making any investment decisions.
About the Author -Petar Koteveski is a forex trader and writer with 9 years of practice ter financial markets. He has bot following bitcoin since 2010. Last year, Petar began getting more involved by writing articles for Forex News, on bitcoin and other alternative currencies. Fresh to bitcoin? Check out his Bitcoin Trading Guide.