Read our complete guide to buying Bitcoins, we'll explain where to do it safely and if it's really the best time to make this type of investment.
In order to buy Bitcoins, the first thing to do is open a free account at one of the various sites that provide this service. Amongst the plethora of available sites, CoinBase is one of the safest and most reliable. If you want to learn more about the sites that allow you to buy BTC, we discuss them in this article.
Before even buying Bitcoin, it is very important to confirm and validate your account, otherwise you will not be able to withdraw what you bought (for security reasons).
Some exchanges even block the possibility of making purchases for accounts that have not had prior verification.
In order to proceed, you usually need an ID (driving license, passport, identity card), which must be scanned or photographed and sent to the exchange.
The duration for approval varies depending on the service you choose and goes from a few hours to a few days.
After verifying your virtual wallet you can buy Bitcoins, and to do so you have to pay using a "real" currency: CoinBase accepts payments in EUR, pounds and US dollars.
After making your purchase, you will find the newly purchased Bitcoins in your wallet and at this point, you can decide whether to keep them waiting for them to grow in value or to spend them in some other way.
How to buy Bitcoins anonymously and without registration Among the advantages of Bitcoins, there is the possibility of being anonymous even while you are buying. Read our study on how to buy Bitcoin anonymously and without registration.
Wallets (or coin holders) are places where to store your purchased BTC.
Knowing where to leave your virtual coins deposited is essential, for obvious reasons (you do not want to lose them, right?).
The fourth and final step is, therefore, to deposit your Bitcoins in a safe place.
For Italians who want to buy BTC, there are several means of payment, from Postepay to Paypal, as well as of course the classic credit cards or bank transfer.
Let's analyse the pros and cons of each method:
To date, it is difficult to buy Bitcoins in a bank, as not all credit institutions are equipped and also because BTCs are not officially recognised as a currency yet.
No bank guarantees the purchase of Bitcoins, therefore it is necessary to opt for alternative solutions, such as in cash or on the exchanges.
It seems strange given that we are talking about the internet and a virtual currency, but you can also buy Bitcoins by paying in cash, here's how:
Before deciding to buy Bitcoins you shouldhave chosen a Wallet, i.e. a virtual wallet where you can deposit your purchased currency.
A wallet is nothing more than your bank account in Bitcoins, where you receive payments and shop in Bitcoins.
There are innumerable ways to fill this wallet, from earning Bitcoins by playing up to using it as a deposit for purchased Bitcoins.
There are various types that we will discuss in our in-depth analysis of the best Bitcoin wallets.
It is the most obvious question of all: why should I buy Bitcoins today? The goal is only one: to aim for an increase in the cryptocurrency's share price in order to earn money. So, let's say that the main objective of buying Bitcoin is to invest "real" money (such as euros, or dollars, or pounds) in the cryptocurrency.
It's true that Bitcoins can also be spent on the internet or even in bricks and mortar stores without any problem, but if you consider that the value of the currency will rise in the future, it may not be the ideal time to use them.
This is the reason that the question "why buyBitcoins" has three possible answers: