bitcoin05

Trading Bitcoins has never been easier

Companies like Dasset, Coinbase, Xapo and Coinjar allow users to transfer money from their bank accounts to buy bitcoins or even buy them directly with a credit card. These companies offer a full suite of bitcoin services; from purchase, storage, and payment, making it easy for the average joe to pay for anything in bitcoin! 

ATM's

Bitcoin ATMs have also been created to allow people to buy & sell bitcoins via these machines. They can be found in cafes, malls and airports across the globe, with multiple ATM manufacturers such as Lamassu, Skyhook, and Robocoin.

Bitcoin ATM

Exchanges

Exchanges are another place where people can buy and sell bitcoins, however this is only one of their functions. Exchanges are also marketplaces where traders can speculate on bitcoin’s price and exchange bitcoin for other cryptocurrencies (altcoins). Exchanges such as Bitfinex even offer a selection of financial instruments for bitcoin, such as margin trading and liquidity swaps.

Bitcoin Exchange

 In the past, exchanges have had considerable difficulty maintaining the security of customer funds, the horror story being that of Mt. Gox, a Japanese bitcoin exchange which went from being the largest bitcoin exchange in the world to insolvent in under a year. Other exchanges have also had problems, but these are usually resolved quickly and without customers losing their money. 

Individuals

For anyone living in a city, sometimes the easiest way to buy Bitcoins is to find someone who wants to sell theirs. This kind of direct trading is called “Over the Counter”. LocalBitcoins is the place to go for this, helping you find someone selling bitcoin near you. Another place to try is the local Bitcoin community in your city, try finding them on meetup.com.

Always remember to exercise caution when buying anything from strangers. All the same precautions should be taken when you’re buying bitcoin to maintain your own safety and make sure you don’t get scammed.

Bitcoin Wallets

Bitcoins are kept in a bitcoin wallet. This is where the “keys” which allow you to spend your bitcoin are stored, and since the security of your bitcoins is so important, these wallets must be strong enough to stop attackers. Many different types of wallet exist, each offer their advantages and disadvantages. For more information on Bitcoin Wallets view our page:  Bitcoin Wallets