How to Buy Bitcoin with Your Local Fiat Currency (Plus an Awesome Guide for Many Crypto Wallets)
As the crypto space grows, so does the information you can find about it.
For many years, those who could see the real potential of Bitcoin, cryptocurrency and blockchain tech, the innovators who were interested in learning more about this space were more or less left to their own devices in regards to figuring out how to purchase and store their cryptocurrencies safely.
Now, after 8 years, there are resources available that allow you to easily find valuable information, especially for newcomers to this space.
So here are some great websites that I’ve found that will help when it comes to purchasing your first bitcoin or cryptocurrencies and how to store them.
I first want to show you how to find an exchange that allows you to purchase bitcoin or other cryptocurrencies with your local fiat currency.
This one is called Buy Bitcoin Worldwide. you can search for your country and then select the payment method that you’d like to use to purchase your Bitcoin.
- Bank transfer
- Credit card
- Debit card
- Many other options.
Once you find an exchange that facilitates these options you’ll get the chance to review which exchange best fits your needs in regards to ease of use, privacy, speed, fees, reputation and limits. Within this criteria I myself would value privacy and reputation highest, but again, that’s just me. For those who are brand new to this technology I’m sure ease of use would also be high up on your list.
It’s also worth noting that if you are purchasing with a debit, credit card, or bank transfer, it’s safe to say that your “privacy” or anonymity is essentially compromised.
Now that you’ve successfully purchased your first bitcoin, I hope that you’d want to keep that puppy safe, or any cryptocurrency for that matter.
Most likely, you’ve purchased this bitcoin on an exchange.
Here’s a tip on exchanges:
They are designed for individuals who want to exchange cryptos at a fairly rapid rate. They are not designed for secure storage of your investments.
I’ve published a few videos that explain why this is so if your interested in learning more on that go ahead and check out the link up above in the corner. In the meantime here’s a great guide you can use when it comes to downloading and accessing wallets for your cryptos
There are a couple different types of wallets you can use to store your cryptos, I’ve also published a video that spotlights these categories and how you can decided which option is best for you. I suggest watching that video if you aren’t sure which type of wallet will best suit your needs.
Once you’ve decided which type of wallet is best for you, I found a really helpful website called Coin Wallet Guide that gives you tutorials on over 50 different wallets.
They cover desktop wallets, multi-currency wallets, online or “hot” wallets, paper wallets and mobile wallets, which as a side note are great for spending your cryptos at physical stores, but again I do not reccommend using mobile wallets as long term storage for any amount of crypto that you don’t want to lose.
These tutorials show you how to find these wallets, how to download them, they walk you through the setup process, and how to use the wallets.
So if you’re ready to take your valuable crypto investment off of the exchanges and onto a wallet that is designed for safer keeping, this site is great. If you’re looking for a guide on how to set up a hardware wallet called the Ledger, check out my past video for that in depth tutorial.