Buy Bitcoins

How to Buy Bitcoins

“Each bitcoin is divisible by eight decimals.To avoid the use of so many decimals, some applications allow you to choose to name the bitcoins in smaller units (run the comma to the right).” Thus new denominations arose, including bits and the satoshis

1 bitcoin = 1,000,000 bits = 100,000,000 satoshis

To get bitcoins you can choose to mine them, that is, generate them with computers and specialized equipment. Although today is an activity that is not profitable, except for large mining farms.

The other option is to buy them in exchange houses or directly to people who sell them on their own.

In case of opting for this last alternative, extreme precautions should be taken to avoid being the victim of a scam.

The most known place for this type of operations is Local Bitcoins, a digital buying and selling platform that operates in 248 countries.

In the case of choosing to operate through an exchange, it is necessary to analyze the reputation and evaluate whether at some point it was hacked or had an incident that may have affected its security.

To buy or sell bitcoins, you can make bank transfers or do so through Pago Fácil or Rapipago.

Places of Purchase

One point to consider is the administration of the private key, which is what is needed to make transactions (buy or sell) with bitcoins. If this is lost, then the user is left with nothing.

The exchange houses have in their possession the private keys of the accounts. If the user wants to recover access to them, then he has to make a withdrawal and pass those keys to a bitcoin wallet or purse.

There are different options and you can consult the Buy Bitcoin Worldwide site. Where the results are filtered by country and the payment method you want to use. Some of the most internationally recognized exchange houses are the following:

Coinbase

It is a web of the most popular that you can find, fast and easy to use. You can buy bitcoins by bank transfer or with your credit card with a commission of 3.5%. It’s so popular that it’s the one we’re going to use today to guide you through the buying process.

Kraken

Another of the largest portals in terms of the sale of cryptocurrencies. On your website you can register, after which it may take a while until you are verified. Once verified, you can make free transfers throughout Europe, and when buying Bitcoins you are asked for a commission between 0.16 and 0.26%.

LocalBitcoins

A platform somewhat different from the others, since it focuses on the purchase of person to person (P2P). That means that they do not charge you any commission unless you want to create an ad, although it can also be a bit more complicated for new users.

Bitstamp

Is another of the main pages in which to buy Bitcoins and other cryptocurrencies, exchanging dollars and euros for them. Your commissions depend on the volume of your purchase, and they promise total transparency.

Additional Information.

What is Bitcoin? Everything you need to know

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Albert Einstein, 7 Things You Didn’t Know

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