Where to buy Bitcoins safely? Here’s a simple 1-step guide
I’m not going into the details of what Bitcoins is and why is it revolutionizing the financial world as we know it. I will instead get straight to the point and say that it is definitely not late to get on the train and buy yourself some Bitcoins or fractions (Satoshis) of the Bitcoin!
The price of a Bitcoin (at the time of writing) stands at a comfortable $US4377.89. A whopping 1900% gain in just 2-years!
Step 1 – It couldn’t be simpler
First of all, Cryptocurrency Exchanges are websites where you can buy, sell or exchange cryptocurrencies for other digital currency or traditional fiat currency like US dollars or Euro. And as you might have heard, not all of them are playing by the books…
Therefore we have picked the one that is most trusted by the larger community.
It is called www.coinbase.com and it was founded in late 2012.
Until today they have raised more than $US106 million in venture capital and we should think of it as a young veteran in this new paradigm. Coinbase is also considered as the leading Bitcoin exchange by the community of millions, currently serving a total of 32 countries.
What speaks loudly in the favor on Coinbase is its insurance and that, dear reader, is absolutely critical if you are looking for a safe place to buy your first Bitcoins.
The vast majority of exchanges are not insured and that makes your investment highly vulnerable to a variety of compromises (i.e Mt.Gox a few years ago).
Fortunately, that’s not the case with Coinbase.
They are insured and if anyone does hack into their infrastructure and steal everything they get their hands on you would still be safe as the insurance policy would pay out to cover any customer funds lost as a result.
And there you have it!
There is no reason to get more complex and you will find all the necessary instructions on their website. We have considered a very simple yet major factor for a safe exchange where you can accumulate your first Bitcoin.
Safety of your investment should be your first concern as it is for us.
The takeaway here is that you don’t need to be a millionaire or a financial mastermind to invest into Bitcoin successfully. All we recommend you to do is to start investing in small amounts (what you can afford to lose) and hold. We do not recommend you to get involved in day trading as cryptocurrency of any kind is an extremely volatile instrument.
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