How To Buy Bitcoin

Bitcoin is quietly becoming the new standard payment. $20 of bitcoin in 2008 would be worth over $20,000,000 today. It’s here and probably to stay. Bitcoin is digital currency. Presently over 100,000 merchants accept bitcoin. To spend bitcoin you need to have some bitcoin. But how do you buy bitcoin?
Buying bitcoin is done in a series of steps. You need a wallet. This is a virtual wallet or place your bitcoin will be stored. Some places like Coinbase have everything in one place. You can buy bitcoin, store bitcoin and send bitcoin to vendors in one place. All transactions for all bitcoin is done through a QRCode or those funny looking letter/number codes that are completely encrypted for privacy. No one knows who these addresses are related to. And that’s the magic of cryptotechnology where transactions are encrypted and not transparent.
Another way to get bitcoin is through peer to peer exchanges. Sites like Paxful will hook buyers up with sellers and have a meeting of the minds to make an exchange. First you have to have an account with your wallet. There are various ways to buy at Paxful including person to person. This is way is using a service like Western Union. The seller agrees to go to Western Union and send bitcoins to the person interested in buying them for an agreed price. The buyer goes to Western Union to send the money.
The fastest transaction at Paxful is through the gift card. No information is sent other than the receipt and picture of the physical card. After checking the card that it’s not been used previously and that it’s exact amount, the money is released in the seller’s wallet at Paxful. And the bitcoin is released to the buyers wallet. No names, ids, or anything else is exchanged. For those looking for anonymity, this is the way to go.
Check out Coinbase and Paxful for other ways to buy bitcoin too. Mastercard, Paypay and bank transfer are also ways to buy bitcoin as well.
Bitcoin is changing the way we do business.

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