Buying Bitcoin is as natural as any purchase can be. However, with various predictions showing that Bitcoin rates are likely to surge upwards to over $10,000 by Dec 2018, there are still problems with buying. Regardless of the developments in the Bitcoin and Cryptocurrency industry, buying Bitcoin is not very easy! Challenges to buying are mostly associated with commercial banks making it difficult. Nonetheless, many options are available for anyone who would want to buy Bitcoin.
But the best option is buying directly from your wallet! Getting a wallet is currently not a problem with the many Bitcoin wallet providers, you only need to find the best one that suits your needs. Your needs could be sending, receiving and storing some coins in your wallet for later use.
It could be confusing to choose the best wallet provider, but they are mainly similar to bank accounts where you store encrypted currencies from a blockchain. A wallet is highly favored than any other type of wallet because it carries a unique ID that makes it challenging to get corrupted. Bitcoin wallets are. However, it is important to note that once they are compromised, the value of stored coins is compromised as well.
This makes it essential to consider the type of Bitcoin wallet provider that you choose. Different devices are available ranging from mobile apps, hard drives, ledgers, or desktop computers. Your choice for the will, however, be influenced by what you want to do with your Bitcoin.
Your choice of Bitcoin wallet is likely to be influenced further by the seller, or what’s commonly referred to as a Bitcoin Exchange. An exchange is merely a platform from where you can buy BTCs with physical currency or mobile money transfer and transfer an equal value to your wallet. It is crucial that the best Bitcoin wallet that you choose is user-friendly, instant and has a responsive customer care support.
The reason why it is crucial to buy Bitcoin directly from your wallet is the fact that you have the opportunity to raise a claim if you encounter any irregularity. There are many cases of fraud, and con artists are rising each day. Thus, it is important to buy directly from your wallet provider as opposed to buying from another peer who could have a different wallet provider as yours.
Once you have bought your Bitcoins, it is not safe leaving them in the Exchange. The best solution is associating the acquired BTCs with your user wallet or account. At the exchange, they are prone to be compromised and therefore transferring them to your user account gives you excellent control of your Bitcoins.
Depending on your needs, you can either store BTCs in your wallet, send as payment for services or buy goods, or still, you can accept more Bitcoins from your customers. Buying Bitcoin does not guarantee a safe transaction environment. However, they are higher chances of secure peer to peer payments with BTCs. But to be safe, buy directly from your Bitcoin wallet!