Cryptocurrency Blog

There is a slight difference between how to buy bitcoin and where to buy them. How to is all about the wallet and exchanges and the typical sources. Where to buy bitcoin digs a little deeper into some of the alternatives to exchanges and setting up your own shop that takes bitcoin. 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 bitcoin 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 f...

The first step in buying bitcoins is acquiring a wallet. This is what the software that contains your bitcoins is called – a wallet. It is this wallet that allows you to join the bitcoin world. Think of it like getting a bank account. You need it to participate in the money world. Even if you stash your cash under your mattress, usually it comes to you in checks and money orders or direct deposit. You need to have someplace where you can access this cash. Once you have your bitcoin wallet, you are ready to receive bitcoins. You used to be able to use PayPal to buy bitcoins but a potential problem arose. Bitcoin buy and sell transactions are completely tracked and protected so it is not possible to say that you paid for bitcoins and never received them. It’s a done deal when you buy bitcoins. No chargebacks. No denial of receipt. Paypal has developed a high level of trust because it offers protection to buyers and sellers. There is a little loophole here that caused a pro...