Buying a Bitcoin Buying Guide? Wondering the place to start? Folks have a lot of misconceptions about bitcoin - the initial widely known and accepted cryptocurrency worldwide.

Lots of people think like that only hackers and shady people use it. However bitcoin is clearly going mainstream with everyone from TigerDirect to Expedia.com to Dell and even Subway accepting payments in bitcoin now.

Why so popular?

Well, bitcoin has plenty of benefits over other currencies. For example, you can send bitcoins to someone as payment and never having to go through the bank middleman (and get hit with extra fees). It's also faster than sending money via a bank wire or transfer. You are able to send bitcoins to someone and keep these things receiving the coins in seconds.

With this, it's not surprising that lots of people are actually trying to buy bitcoin for the initial time. However it's not as easy as going to your bank and withdrawing bitcoins - or planning to a shop and plunking down some hard-earned cash for bitcoin.

The system works a little differently than that. This Bitcoin Buying Guide will go over two things you have to know before you buy - so you can buy safely and securely.

First of all, while the purchase price may be over us per coin, you don't have to get a complete bitcoin. Most places allow you to buy portions of a bitcoin for as little as So you can start off small and go from there as you obtain more confident with the way things work.

Secondly, this article is for general purposes only and not to be used as financial advice. Bitcoin can be risky and before making any purchase you must consult together with your financial advisor to see if it's right for you.

So listed here are 3 easy steps to buying Bitcoins:

First thing to complete before you buy your coins is to acquire a virtual wallet to store your coins. This wallet is a line of text that people Bitcoin ATM can use to send you bitcoins.

You will find several different types of wallets including ones you download to your phone or computer, online wallets and even offline, cold storage wallets.

A lot of people prefer to obtain a wallet on the phone or computer. Popular wallets include Blockchain, Armory, Bitgo MyCelium and Xapo.

Usually it's as simple as downloading the wallet to your phone as an app or downloading the application to your personal computer from the wallet's main website.

There are several kinds of places to buy and each one of these is just a bit different. There are online sellers that will sell you bitcoins directly for money (or bank wire or credit card).

You will find exchanges where you could buy and sell bitcoins from others - similar to a stock market. Additionally there are local exchanges that link you up with sellers in your town trying to sell. There's also ATMs where you go to get with cash and get your coins brought to your wallet in minutes.

Each bitcoin seller has their benefits and drawbacks. For instance ATMs are great for privacy, but they'll charge you around 20% on the top of current price, that will be ridiculous. ! So you're paying.

Irrespective of where you decide to buy, remember to accomplish your research and opt for a respected seller with a great reputation and strong customer service. First time buyers will especially have questions and might need the additional support to help them using their first transaction. Invest some time and research the different places to buy when you decide. Factors to think about include coin prices, extra fees, way of payment and customer service.