When evaluating potentially profitable currencies of the future, bitcoin will come up time and time again. The digital currency is increasing in popularity year on year, but many are still wondering about how to buy bitcoins. If you are one of these people, then fear not, as this quick guide is on hand to help.
You can trade bitcoins with Accendo Markets using your trading platform (spread bets or CFDs), or you could purchase them in a conventional sense.
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Your free guide will help you to decide:
- When should you buy bitcoins?
- When should you sell bitcoins?
- When should you enter the market?
- What pitfalls should you watch out for?
- The strategy you should follow
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Before you can purchase conventional bitcoins and have the currency registered to your name, you will need to have a bank like account in the form of a bitcoin wallet. You have two wallet options to choose from, either a software wallet that will be a feature within your computer system, or an online web-based option. What you need to remember is that even though a wallet is an essential part of the bitcoin buying process, neither option is fool proof from a security perspective. Take care when choosing an ID and password, while you should try to find a wallet that operates with multi-factor authentication.
The easiest way to buy conventional bitcoins is to do so by credit card via an exchange. There are several virtual world exchanges available that can be accessed easily. VirWox leads the way, as it accepts all major credit cards via Skrill and Paypal. You can then buy SSL, which can be traded into bitcoins. Coin Mama operates in a similar fashion by using credit card payments through Western Union transfers, but such service is not available in the United States. Brawker is considered an alternative to the aforementioned, as even though you still use a credit card, you will be buying bitcoins from brokers using escrow.
Traditional in many ways, if you live in the United States you can buy conventional bitcoins via bank transfer from a US based account. All you need is an account number and a routing number to get started. You can also use a linked credit card to fund any transactions via such means. Companies that allow you to buy bitcoins via bank transfer include ExpressCoin, Coinbase, Bittylicious, BitBrothers, Kraken, BitQuick, Bit4Coin, Belgacoim, Bitalo, and Asia Nexgen.
Some people don’t like the idea of putting all their eggs in one basket by buying large amounts of conventional bitcoin on their own. If this is you then you can use an investment trust to alleviate some of the pressure involved when parting with your money. Bitcoin Investment Trust is the leading name in such field, as it uses the very latest protocols to protect their shareholders investments. Bitcoin Superfund is another option, but is only available to those based within the United Kingdom.
Are you looking to jump on the bitcoin bandwagon? Wondering how to get involved with currency of the digital age? Then you will want to speak to the team at Accendo Markets. We make buying bitcoins as easy as buying any other currency using CFDs and spread bets, through our top of the line and technologically advanced trading platform.