How to Buy Bitcoin – Latest Guide for 2022
So you want to buy Bitcoin, but you have a lot of questions: Where is the best platform to buy and where do I store them? And can I just buy a small amount?
This is BTCC academy, and we’re going to go over how to buy Bitcoin (BTC) in today’s 2 minute tutorial.
Buying Bitcoin can be broken down into three simple steps:
Step 1: Get a crypto wallet
Step 2: Find your Bitcoin address
Step 3: Buy your Bitcoins
The first step is to get your own Bitcoin wallet, which is a program used to send, receive and store Bitcoins.
Bitcoin wallets can be broadly divided into two types – software wallets and hardware wallets. Software wallets are programs or applications that run on your computer or mobile device. Hardware wallets, on the other hand, are small physical devices that connect to your computer to send and receive Bitcoin, and store it more securely.
If you’re buying a small amount, then a free software wallet will work just fine. But if you’re planning to accumulate larger amounts of Bitcoins, it is safer to store them in a hardware wallet.
Once you have your wallet, make sure to find your Bitcoin address. A Bitcoin address is what you give out when you want someone to send you Bitcoins. It’s a long string of numbers and letters starting with either a “1” or a “3”.
Okay, now that you have where to put it, you need to know where to get it from. We recommend you buy your Bitcoins on an exchange.
Exchanges can also be divided into two kinds – brokers and crypto trading platforms.
Brokers sell Bitcoins directly to you through a quick and easy process, but with higher fees. They are perfect for beginners.
Trading platforms connect you with sellers in an anonymous way and offer more trading options. Trading platforms charge much lower fees than brokers, but are better suited for more experienced users.
For your first purchase, we recommend that you buy with a reputable broker.
And finally, while some exchanges will store the coins for you on their site, you need to make sure to withdraw them to your own wallet by sending them the Bitcoin address you create in step 2. This way you will have full control over your Bitcoins.
That’s today’s 2-minute bitcoin purchase tutorial, thanks for watching.