How to Buy Bitcoin with Your Local Fiat Currency (Plus an Awesome Guide for Many Crypto Wallets)

in #bitcoin7 years ago

Screen Shot 2017-12-11 at 8_Fotor.jpg

As the crypto space grows, so does the information you can find about it.

For many years, those who could see the real potential of Bitcoin, cryptocurrency and blockchain tech, the innovators who were interested in learning more about this space were more or less left to their own devices in regards to figuring out how to purchase and store their cryptocurrencies safely.
Now, after 8 years, there are resources available that allow you to easily find valuable information, especially for newcomers to this space.

So here are some great websites that I’ve found that will help when it comes to purchasing your first bitcoin or cryptocurrencies and how to store them.

I first want to show you how to find an exchange that allows you to purchase bitcoin or other cryptocurrencies with your local fiat currency.

This one is called Buy Bitcoin Worldwide. you can search for your country and then select the payment method that you’d like to use to purchase your Bitcoin.

Options include:

  • Bank transfer
  • Cash
  • Credit card
  • Debit card
  • M-Pesa
  • PayPal
  • Swift
  • Many other options.
    Once you find an exchange that facilitates these options you’ll get the chance to review which exchange best fits your needs in regards to ease of use, privacy, speed, fees, reputation and limits. Within this criteria I myself would value privacy and reputation highest, but again, that’s just me. For those who are brand new to this technology I’m sure ease of use would also be high up on your list.
    It’s also worth noting that if you are purchasing with a debit, credit card, or bank transfer, it’s safe to say that your “privacy” or anonymity is essentially compromised.

Now that you’ve successfully purchased your first bitcoin, I hope that you’d want to keep that puppy safe, or any cryptocurrency for that matter.

Most likely, you’ve purchased this bitcoin on an exchange.

Here’s a tip on exchanges:

They are designed for individuals who want to exchange cryptos at a fairly rapid rate. They are not designed for secure storage of your investments.
I’ve published a few videos that explain why this is so if your interested in learning more on that go ahead and check out the link up above in the corner. In the meantime here’s a great guide you can use when it comes to downloading and accessing wallets for your cryptos

There are a couple different types of wallets you can use to store your cryptos, I’ve also published a video that spotlights these categories and how you can decided which option is best for you. I suggest watching that video if you aren’t sure which type of wallet will best suit your needs.

Once you’ve decided which type of wallet is best for you, I found a really helpful website called Coin Wallet Guide that gives you tutorials on over 50 different wallets.

They cover desktop wallets, multi-currency wallets, online or “hot” wallets, paper wallets and mobile wallets, which as a side note are great for spending your cryptos at physical stores, but again I do not reccommend using mobile wallets as long term storage for any amount of crypto that you don’t want to lose.
These tutorials show you how to find these wallets, how to download them, they walk you through the setup process, and how to use the wallets.
So if you’re ready to take your valuable crypto investment off of the exchanges and onto a wallet that is designed for safer keeping, this site is great. If you’re looking for a guide on how to set up a hardware wallet called the Ledger, check out my past video for that in depth tutorial.

Additional Reading/Sources:

Buy Bitcoin Worldwide Website
Coin Wallet Guide Website
Video that Explains Vulnerabilities of Popular Exchanges
Video that Explains Wallet Options
Video Tutorial for Ledger Nano S

Sort:  

I have this feeling like if I could just easily convert all the little pennies and dimes I have laying around the house into crypto that I'd have enough money by now to not be the sort of person that has pennies and dimes laying around the house.

Well, your feeling is about to become a reality next year. This startup ICO is a game-changer! They are planing to integrate Visa and MasterCard into their own cryptocurrency bank.

The token distribution will last until January next year but in order to avail of the coin bonus, you will have to buy it as early as possible because the bonus percentage is diminishing by the passage of time.

Key features of this coin are as follow:

  • Tor Network Integration
  • Ring Signature
  • Multi-Signature
  • Zero-Knowledge Proof
  • Dual-Key Stealth Address

That's right: as of this moment it is official that bitcoin is now the biggest bubble in history, having surpassed the Tulip Mania of 1634-1637.

Blah blah blah bubbles blah tulip mania dot com blah blah blah. pubkic opinion: predicting 20 of the last 3 bubbles

Will check it out thanks @introvertspeaks

I would be really careful with this ICO, my SCAM-alarm is ringing.

YW! You shouldn't miss out this very innovative coin. This is going to be the next big thing in the crypto space.

@heiditravels Thanks for spending your time to educate everyone!
I really appreciate your thorough explanations and have made links on my blog regarding your posts.

Please have a look at:
https://steemit.com/bitcoin/@zen-analyst/pt-3-what-is-a-cryptocurrency-wallet

I believe us Steemians are not here to compete or anything, but to work together as a proper decentralised community that Steemit has provided =]
Together sky is the limit!!

I find your articles very useful and have already referred a lot of my local friends to check out!

Please guide me as I'm still new here.
Give me some feedback about my blog please.

Thanks again for your time and what you do.

CryptoZen

:-) nice idea to put all the pennys into crypto ... then I wouldn't have to carry this heavy coins with me ... and I would have a smaller purse (what's better for my pocket)

I have this feeling like if I could just easily convert all the little pennies and dimes I have laying around the house into crypto that I'd have enough money by now to be the sort of person that has nickles and quarters laying around the house.

That takes some nuts & patience.

One good thing to mention. Watch out for fake wallets that steal your coins.

That's a great guide!

Great content for people just getting in

Indeed, i joined today without having any esperience with cryptocurrencies. I have a lot of reading to do XD

keep reading, and then read some more. This technology rapidly progresses. Best luck.

Thanks for sharing

very powerful @heiditravels...but i have a question, can you also share about how to sell bitcoin and cryptos for fiat from the best exchanges and lowest fees? sometimes it is easy to buy bitcoin but not so easy to get out of it..thx

Thanks for sharing.

thank u for info, u got new fan here

Woohoo! Glad you found this helpful :)