You are ready to get started investing your savings in bitcoins, but the first step is to obviously get some bitcoins. There are numerous ways to acquire them but, to the beginning investor it is always a good idea to buy a few bitcoins. There are numerous ways you can go about this. The first is by credit card. A place called the virtual world exchange is able to transfer bitcoins for money. This is by far the easiest way to get your savings started. Now I do want to warn you from the start that PayPal is not the proper way to buy them. It is against their terms of service and can often end up bad for both parties. I recommend making investments through a bank account or a credit card.
However, if you find a local seller of bitcoins you may be able to buy them with cash. This is a wonderful way to save money on the transaction fees that often burden currency exchanges. Since this is an internet business it is important to always verify who you are buying from. Any time money is transferred in the world a scammer is looking for a way to get it. Now you don’t need to worry but, instead research any places you are interested in buying from. Once you find a good place I would recommend sticking with it. As long as you are happy that is all that matters.
If you have been reading the bitcoin news you may have found that the bitcoin value has changed a lot. You probably will find various prices on the bitcoin forum as well. The reason for this is that the value is constantly changing with supply and demand. One other thing to note is that the production rate of the bitcoin is going down as times moves on and this will lead to a dwindling supply of bitcoins to be mined. Like stocks, they will have a general rise in value overtime but, trying to perfectly time a purchase to save a few bucks isn’t worth it. Just make a small purchase after each payday and you will begin growing your savings. Essentially they will rise in value over time. Once you have the bitcoins you can safely store them in your account to later trade on the market or use for purchases from other vendors who accept them as payment.
İmage source: themerkle.com/wp-content/uploads/2017/01/bitcoin-price-rises.jpg
Congratulations @johntingley! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP