Bitcoin Guide

Bitcoin Guide

Bitcoin (BTC)

Current Price: $7960.44995334

Change Last 24h: -1.49%

RankMarket Cap24h VolumeTotal Supply
114328093475515166835415.117999100.0

bitcoin

What is Bitcoin?

Bitcoin is the first and most popular decentralized cryptocurrency. Bitcoin is open-source, which means any one can access it to see exactly how it works, and everyone who participates in the network has a stake in its future.

Bitcoin was created in 2009 by an anonymous developer who went by Satoshi Nakamoto.

On the surface, Bitcoin transactions work just like a typical credit or debit card transactions. The difference is that instead of a bank at the center confirming and tracking transactions, bitcoin transactions are confirmed and recored on a decentralized digital ledger that’s open to the public. This is known as the blockchain.

How to Buy Bitcoin

The easiest way to buy bitcoin is through a cryptocurrency/bitcoin exchange. You’ll just need to find an exchange that accepts your local fiat currency, set up an account, verify your identity, and transfer in some funds.

Check out some of these popular bitcoin exchanges. And find other cryptocurrency exchanges and trading platforms here.

Coinbase

coinbase

Supported Countries:

  • United States
  • United Kingdom
  • Italy
  • Australia
  • Canada
  • Singapore
  • and more.

Payment Methods

  • Bank Account transfer
  • Credit/Debit card
  • Paypal

Other Features:

  • Mobile application
  • Price alerts
  • Litecoin & Ethereum available

 

Paxful

paxful

Supported Countries:

  • United States
  • China
  • Nigeria
  • India
  • Russia

Payment Methods

  • Cash
  • Credit/Debit Cards
  • Paypal
  • Giftcards
  • and more.

EXMO

exmo

Supported Countries:

  • Worldwide

Supported Currencies:

  • USD
  • EUR
  • RUB
  • PLN

Payment Methods

  • Wire transfer
  • Credit/debit cards

Other Features:

  • Advanced trading functionalities

 

How to Store Bitcoin

Storing bitcoins is easy, and you’ve got a number of options. Depending on how you plan to use your bitcoins and how much bitcoin you have, certain storage options may be better than others.

E-Wallet/Exchange Storage

Most convenient option for short-term bitcoin trading, but the least secure bitcoin storage option.

For e-storage, there are no extra steps you need to take other than signing up for a bitcoin exchange. Your assets are managed on the exchange and the exchange has control of the private keys.

Hot Wallet Storage

A hot wallet is a form of bitcoin storage that is connected to the internet. The private keys are stored on your own device, meaning you have total control of your bitcoin assets.

The downside is that your device is connected to the internet so your wallet is vulnerable to hack, viruses, and malware.

You can download the official bitcoin core to serve as a hot wallet and to support the bitcoin blockchain network.

Cold Wallet Storage

A cold wallet refers to a bitcoin wallet that is not connected to the internet. This includes paper wallets and hardware wallets. You have control of your private keys and your bitcoins are safe from viruses and hacks.

The Ledger Nano S is a relatively inexpensive hardware wallet you can use to store and manage your bitcoins.

Check out some other bitcoin hardware wallets here.