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Friday, June 2, 2017

Here are 3 things you should do if you want to start buying bitcoin

Here are 3 things you should do if you want to start buying bitcoin

We’ve received a lot of feedback from our last few write-ups on the bitcoin and cryptocurrency market.

And because a many readers have said they are going to roll up their sleeves and enter the market themselves, we thought we’d offer three simple pieces of advice to bitcoin beginners.

Speaking from personal experience, I highly recommend that folks looking to buy some bitcoin start with an extremely small amount… no more than a bitcoins worth, which today is the equivalent of a couple thousand U.S. dollars. (You can use less money and buy a fraction of a bitcoin also if you prefer).

The process of buying, moving and storing bitcoin is not like traditional online banking or investing. If you send bitcoin to the wrong location, for example, you can’t just call up your bank and cancel your transaction. So it’s critical to familiarise yourself with the mechanics of buying and moving bitcoin around first with a relatively small sum, before moving on to larger dollar amounts.

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