There is a slight difference between how to buy bitcoins and where to buy them. How to is all about the wallet and exchanges and the typical sources. Where to buy bitcoins digs a little deeper into some of the alternatives to exchanges and setting up your own shop that takes bitcoins.
My favorite place to purchase Bitcoin is a place that I have a lot of trust in and that is using a service called Coinbase. This is an American based company and follows every rule and law in this country to the letter. They have always been very trustworthy along with being one of the best names in the business. I simply cannot recommend them enough.
Some larger areas have bitcoin ATMs. The prices are comparable to exchanges. This is a convenient process. Looking at the prices for the middle of November 2017, these are the prices at a bitcoin ATM in the United States. The dollars are US dollars. 0.01 costs $90.80. 0.001 costs $9.08.
Another source for bitcoins is eBay. A typical posting reads something like this, “0.001 bitcoin to your wallet. Pay with Paypal.” The seller wants a selfie of you holding your passport or driver’s license so they can compare your face to the ID and your name with the Paypal account. This 0.01 bitcoin costs $19.99. This is on a day when a bitcoin is selling for $8.
Another eBay seller is offering 0.01 bitcoin for $95. This seller has the same rule about the selfie with ID and matching the name with the Paypal account. On the market, 0.01 bitcoin is selling for $80.
If you are at the beginning of understanding bitcoins, be careful. Another seller is selling a gold plated physical bitcoin in a protective acrylic case for $11. The seller makes it clear that it is a commemorative coin. That’s a good thing because there is no such thing as a real physical bitcoin. However, someone not very knowledgeable about bitcoins might think that they are actual coins.
If you start accepting bitcoin for a service you offer or when you sell your car, you will become part of the movement toward having people become more familiar with using bitcoin.
When it comes to spending bitcoin, more stores are accepting them. Overstock, Intuit, Microsoft, and DISH network accept bitcoin as a payment method. eGifter sells more than 200 different gift cards accepting bitcoin as payment for the card. There is no additional fee for paying with bitcoin.
One of the reasons for brick and mortar store to be slow in adopting bitcoin as a payment type is the volatility of bitcoin. There were fears of selling an item one day and having bitcoin plummet the next day. This could cut into the store’s profit margin. Another factor is that every transaction requires verification and this can take up to 30 minutes.
If you purchase bitcoin and keep it in your wallet, it is very easy to convert it into cash or withdraw it to your bank account. An exchange such as Coinbase is connected to your bank account and that is one way to withdraw money into your bank account. This is a way of using your bitcoin currency while you wait for more businesses to accept it as payment.
If you would like a step by step guide of how to create a Plug-N-Play Cryptocurrency portfolio built from Bitcoin, Ethereum, Litecoin and many other quality coins (some of which that pay you just to own them!), click the banner below:
Dan Watson and Arkham Industries provide an informational service only and are not responsible for any investments made applying this information. The results described are not typical and are not guarantees of future income. Any investment contains risk and is 100% the responsibility of the investor to assess the risks/rewards involved. It is possible to lose some or all of your investment. We assume no liability assumed or implied for your application of the information shared from the training programs.
I am not a financial adviser and for that reason, nothing I say or write should be taken as financial advice. This information is for informational and entertainment purposes only. I am not the owner of any of the programs mentioned on this website. I am also not connected to the presented websites in any way, shape or form. There is risk involved in trading, mining, lending, staking and investing in cryptocurrency. So any previous payments made by any website or an investment fund do not guarantee that payments will be steady and regular in the future. I am not responsible if a website does not pay out or shut down at anytime. So Join at your own risk. This information is created as per my personal experience. I do not take any responsibility for any losses that may occur. I do not give any financial advise.
Earnings and Income Disclaimer. We make every effort to ensure that we accurately represent these products and services and their potential for income. Earning and Income statements made by its’ customers and/or I are only estimates of what we think you can possibly earn. There is no guarantee that you will make these levels of income and you accept the risk that the earnings and income statements differ by individual. As with any business, your results may vary, and will be based on your individual capacity, business experience, expertise, and level of desire.