Are your friends getting rich trading cryptocurrency?
Do you want to get in on the trend but have no clue how to get started. Luckily for you we here at Coin Jolt have put together a definitive guide absolute beginners on everything you ever want to know about buying Bitcoin but were too embarrassed to ask. The first step on your journey to becoming a legendary Bitcoin trader is to open a Bitcoin wallet. A Bitcoin wallet is simply an app, website or device that manages your Bitcoin private keys and allows you to receive, store and spend Bitcoins. Wallets come in 2 forms, hardware wallets and software wallets. Also known as cold and hot wallets.
Hot wallets protect your private keys via web applications, apps on IOS and Android platforms and even desktop apps. Examples include Exodus, Jaxx and Electrum. Hot wallets are the most popular way to store and access Bitcoin but can be hacked. After you’ve chosen a Bitcoin wallet, make sure to store them in your Coin Jolt account. Choose a safe and secure password and make sure to fill out your personal information accurately to ensure account recovery.
Now that you’ve got a Bitcoin wallet your almost most ready to start buying. But first you’ve got to find someone willing to sell their Bitcoins in exchange for your money. Most people buy and sell Bitcoin on exchanges like Coin Jolt or Binance. In order to open a trading account on a major exchange. You’ll need to have a valid ID and a bank account. After you open your account, you need to find a good offer. You can buy the bitcoin using a credit card or debit card and by a wire transfer but some restrictions may apply.
Congratulations you’ve just completed your very first bitcoin purchase. You’re officially a crypto currency trader now. Well done! Wondering what you can do with these Bitcoin?. Try cashing out at Bitcoin ATM, buying other cryptocurrencies or even investing in initial coin offerings. Happy trading.