I’m not going to go into too much depth here. There’s plenty of articles and videos that will more fully explain the technology and utility. The basics are that it’s a virtual coin built on top of a secure, decentralized ledger system called the “blockchain”. Bitcoin is the most visible of the digital coins, usually called cryptocurrencies. Bitcoin has a limited supply and is also the primary cryptocurrency used on most ‘crypto’ exchanges. Because of this, demand has driven the price up and will most likely continue to - especially with larger financial institutions getting interested.
It’s getting easier everyday to buy Bitcoin with USD, with more new options becoming available all the time.
Coinbase is easily the most popular method to buy crypto, currently giving the buyer the option to buy Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. There’s been talk of adding new coins to their platform soon.
Coinbase has an easy to use iPhone app and makes it easy to set up an account and add funds. You can connect Coinbase to your bank accounts or credit card. Credit card purchases are almost instant but also have a transaction fee to do so.
When you create a new account with Coinbase, use this link to thank me for writing this!
https://www.coinbase.com/join/593c1d771291e9145b799089
Many cryptocurrency exchanges will also let you deposit US funds. Besides Coinbase, here’s the next top four. You can read more about these exchanges from this article.
Gemini
Kraken
Coinmama
Bitstamp
These two platforms are unique in that they allow you to buy, trade, and convert stocks and cryptocurrency. They both have mobile apps and are quickly adding cryptos to their offerings. At the time of this writing, Robinhood is just now starting to sell Bitcoin and Ethereum in a few states with 14 more cryptos to be added soon. They have a waiting list of 1.4 million users. Uphold on the other hand, is already trading in 7 cryptos.
Sign up for Robinhood using this link to get a free stock for yourself (and me) but also to get on the waiting list. https://share.robinhood.com/aarond700
Both of these websites allow you to buy Bitcoin and quickly convert to other cryptocurrencies without have to go to different exchanges. It will cost you a little more but it may be worth it to you for the convenience factor. Here’s a great article that compares these two.
Depending on where you live, you may have a Bitcoin ATM in your area where you can purchase Bitcoin directly. You will pay more at these ATMs but it is instant, easy, and anonymous. Find one near you at CoinATMRadar.com
