There are many places to get some if you are wondering where to buy bitcoins, but it’s a scary thing for most people to embark upon because it’s just something that many regular people don’t understand.
Many people see this Bitcoin and other non Bitcoin coins (alt coins, names for “alternate coins”, as in “not Bitcoin”) as this shadowy thing that you can’t actually hold in your hand so it’s not real, but it is, and it has real value.
Let’s get familiar with this whole weird concept, shall we?
Bitcoin is being branded as the new gold, or digital gold, because it has real scarcity, probably much more than gold since gold can exist in many undiscovered places on Earth and elsewhere in the Universe.
You see all of these photos and art that looks like coins with the Bitcoin logo, but what most people need to understand is that they are just artistic depictions. Bitcoin is not a material thing, and exists only in computer code, known as the ledger, or blockchain that defines it.
So, if you are asking where to buy bitcoins, that is a pretty good question since you can’t just go to your bank or any regular place and by it.
It’s true that in some places there are these terminals, or ATM like machines that let you buy bitcoin, but I’ve only seen them in photos, and chances are you’ve only seen them that way too, if at all.
Pretty trippy, huh?
Honestly, I wouldn’t even know what to do with THAT thing. When I am dealing in Bitcoin, I want the best security and anonymity that I can get within certain limitations of convenience, and I am not sure that a machine that is controlled by someone else in some store or terminal is my best bet.
Where to Buy Bitcoins – The Best Choice for Most People
The best place where to buy bitcoins would be a place that:
- Makes it easy to get a free account.
- No maintenance fees.
- Reasonable transaction fees.
- Good security.
- All Bitcoin holdings insured.
- For U.S. residents, deposits insured by FDIC up to $250,000.
- Industry respect.
- Government blessing.
- Offline Cold Storage of cryptocurrency for added security.
Of course that is not everything that you can probably come up with, but it’s a pretty good start!
The greatest security that you can have for your Bitcoin holdings, if they are substantial, is to spread them around different Bitcoin exchanges and not keep them all in one place.
Of course, keeping all of your holdings in one place, even a place like we described above that has all of that security and industry respect, comes with the downside of possible government snooping, and tax liability.
Tax liability is there no matter what, especially if your country is trying to track where its citizens keep their holdings. This is a fact of life, and every citizen of any nation is subject to the tax laws of that nation.
Of course, in the cryptocurrency world, there is a culture of decentralization and distrust of governments that makes many have the idea that they want to hide their holdings and gains from the prying eyes of governments.
If you are into shady income producing activity, then you probably are better off using a hardware wallet where YOU control every aspect of it, and you also get the responsibility and stress of making sure that it’s secure, because if you lose your keys or your machine blows up then you can lose your holdings, but anyone into that sort of lifestyle probably has that sorted out.
For the rest of the people who want to get into the world of Bitcoin and cryptocurrency but aren’t looking to skirt tax laws or engage in illicit activities, there isn’t anything to worry about.
Just be prudent. If it looks like a government is going to ban Bitcoin, then get your stuff moved before that action is taken, but really, there is no feasible way to ban a decentralized cryptocurrency. It would be like banning the Internet itself.
So, it’s free to create an account, AND when you share it with friends through that link they provide to all members, if your friends sign up, you can get $10 in FREE Bitcoin.
How’s THAT for a great deal?
We’ve written more about this subject on where to buy bitcoins easily and safely, so you can check out that post as well to get even more great information about this whole thing.
Once you create the account and get verified, you can use a variety of sources to finally buy some Bitcoin and then you can say that you are TRULY taking part in this new economy that is being created as we speak, as we sleep, and just as we live out the minutes and seconds of our days in this wonderful world of technology that exists today.
There are other cryptocurrencies besides Bitcoin, like Ethereum (Ether) and Litecoin, and you can get either of them within the same exchange. You can convert between the three to move your interest around if you wish.
It’s easy to follow the cryptocurrency prices online with charts like this.
You can always know what is going on in the world of cryptocurrency.
Now that you know where to buy bitcoins safely and easily, you can act on that knowledge whenever you are ready.