Bitcoins have become a staple of internet commerce, and are accepted at a very wide variety of merchant sites. As both a favorite of people who prefer anonymous online transactions as well as buyers who are sick of dealing with the ups and downs of foreign exchange issues, having a Bitcoin or two can prove to be a wise decision. In fact, Bitcoins are now being used as an investment, too! Though it was once a method of payment only hackers and computer whiz kids would use, Bitcoins are now becoming more popular with mainstream individuals. Don’t know how to buy Bitcoins? Don’t worry, it’s really quite simple. Here’s how to buy Bitcoins safely.
The first thing that you will need to do in order to buy Bitcoins is decide upon the payment method that you’ll use, since some methods are safer than others. Many online sites which specialize in buying and selling Bitcoins use direct bank transfers for money exchanges, as well as the use of credit cards, money orders, money wires, SEPA transfers, and even through the use of gift cards. If you are going to be meeting up with a Bitcoin vendor in person, you can also use regular cold, hard cash. Paypal and checks are normally not accepted.
Next, you need to decide which method you want to use in order to receive your Bitcoins. Most people choose to go through Bitcoin exchanges when they first buy Bitcoins. Many online vendors do the entire process online, sometimes even using a Bitcoin escrow account to ensure a smaller probability of fraud. In fact, you can often find Bitcoin direct sellers online offering the currency at a reasonable price. You can also do the entire exchange in person, however there is a lot of risk to this kind of exchange. Ebay has also been known to carry Bitcoins once in a while, as have other online auction sites. There’s even a program by the name of BitcoinByMobile that allows users to buy Bitcoins through their mobile phone.
After you send in the money, you should receive the Bitcoin number that you wanted to get. It’s also possible to get physical Bitcoins, but they are not as common, and really, it’s the number linking to the Bitcoin address that you should be concerned with. The entire process, in many cases, is almost instant. Users who cash them in can use the money within 10 minutes or so.
If you are new to purchasing Bitcoins, then it’s absolutely crucial that you read multiple in-depth reviews of sellers who are offering the currency before you put down any money. It is possible to end up with fraudulent or copied Bitcoins which become useless in trading. Because of the fact that it is easy to get scammed, Bitcoin buyers should look for a seller or an exchange with lots of positive reviews. You can never be too careful!