Buy Bitcoin with Coinbase or using a Wallet?
One of the easiest methods of buying bitcoin is to use coinbase.
There are a lot of different ways to buy bitcoin but one of the easiest and safest methods is to use a trusted company like coinbase.
Coinbase is one of the largest exchanges in the USA.
You can open an account but you will need to jump through some hoops and you will need a bank account along with going through a verification process that
can be time consuming and a little aggravating.
You can find out more by visiting the main coinbase website. Coinbase.com
You can open an account but you will need to jump through some hoops and you will need a bank account along with going through a verification process that
can be time consuming and a little aggravating.
You can find out more by visiting the main coinbase website. Coinbase.com
There are also many other methods of buying and owning bitcoin but some of them can be expensive because of fees.
There are bitcoin ATM machines in a lot of stores (mostly convenience stores but also many others) but there is a down side.
Bitcoin ATMs can come with high fees and when it comes to value sometimes it can be better to use an exchange or a wallet service.
The best thing to do is to do research and find out which is the best fit for you.
Some people just want to buy a small amount of bitcoin just to say they have it.
If that is the case you might want to just use a machine but be careful to find out everything that might be expensive including how you store that bitcoin.
Wallets
Wallets can be both custodial or non custodial
Custodial is A custodial wallet is a type of cryptocurrency wallet that is managed by a third party. In this case, the third party takes custody of the user's cryptocurrency, and the user does not have control over their private keys.
Non Custodial is a wallet where you are in direct control of your cryptocurrency. This would seem to be the better choice but there are issues where you could end up losing your crypto because you control the passwords and if you lose your ability to access your wallet you could end up being unable to access your crypto money. Most people tend to want to remain in complete control so if you do choose to maintain your own wallet then make sure you secure your access to your wallet in more than just writing it down on a piece of paper.
A piece of paper can be lost!
So be sure to make sure you have more than just writing it down because you can read all about many people who have lost their bitcoin because they wrote it down on a piece of paper and then later lost it and could not remember
the pass codes!
Do not let that happen to you!
So be sure to make sure you have more than just writing it down because you can read all about many people who have lost their bitcoin because they wrote it down on a piece of paper and then later lost it and could not remember
the pass codes!
Do not let that happen to you!
Finding information
There are a lot of different places on the internet where you can find out information on bitcoin and crypto.
Literally hundreds of thousands of different websites and many of them can at times contain bad information.
You can find lots of information that is bad advice.
The best way to insure yourself against this kind of bad information is to use common sense. Never initiate a financial relationship with someone on one of these websites or forums, there are some good people on there but there are also some bad guys there too.
Don't take advice from someone who tells you about a coin that they like because it might not be a good coin at all.
Be careful about who you trust and do lots of research!
The main thing is to learn about crypto and how to buy it and sell it because the more you know about how it works with wallets, trading, buying selling...
Learn, study, grow your knowledge.