What Is The Best Site To Buy Bitcoins
Are you interested in Bitcoins and want to start investing in them? Yes?
So, what is the best site to buy Bitcoins?
Find out everything you need to know here!
What Are Bitcoins?
My article is focused on where to buy and store Bitcoins.
However, I want to give you a quick overview of what Bitcoins are:
Bitcoins are a rather new type of money.
They are the first realization of a concept that Wei Dai described in 1998.
While this concept existed since 1998, the Bitcoins came to life between 2009 and 2010.
Bitcoins are a sort of virtual money which can be used to pay for many services and products worldwide.
What Are The Advantages Of Bitcoins?
1. Bitcoins are not controlled by any government or organization.
It is impossible to manipulate its course.
That makes it the most stable currency.
2. Transactions are fast and can be done anytime
You don’t need to worry about bank holidays and weekends. Your transfer will be fast and easy
3. You can send Bitcoins without revealing any private information
Identity theft is impossible when using Bitcoins
4. Bitcoins are safe for businesses
Once you have sent Bitcoins, you can’t take them back yourself.
The receiver of the Bitcoins can be sure that the payment was successful and doesn’t need to fear fraud.
If you want to know more about the nature of Bitcoins, I’d highly recommend reading about them on this site here.
The explanations there are the best I could find online.
What Are The Disadvantages Of Bitcoins?
1. Bitcoins are not accepted everywhere
This is the biggest disadvantage of Bitcoins. You can’t use them wherever you go.
You always need to check first, before relying on them.
2. Bitcoins are still in their baby shoes
Bitcoins have been around for a few years, but they are still in a Beta phase.
There are still many functions and tools that need to be added to them before they can be used by everyone.
What Is The Best Site To Buy Bitcoins?
There are, of course, many sites that offer Bitcoins.
You have to make sure that it is legit and safe.
I highly recommend using Coinbase to get started with Bitcoins.
They are a trusted source for Bitcoins and very easy and comfortable to use.
When you go to their page you can immediately see the current course of the Bitcoins.
Just add your favorite payment methods and you are ready to go.
If you want to make payments in a store or receive money, you need to know the address of your Bitcoins wallet.
For that, just go to tools and copy that long string of numbers and letters.
Before you get started, though, make sure that Coinbase is available in your country.
You can sign up for it from anywhere, but you can’t buy or sell Bitcoins through Coinbase from every country.
You can find a link to the supported countries on the bottom of their homepage.
Are Bitcoins Safe And Widely Accepted?
Bitcoins are very safe.
But, they are not as widely accepted as I would hope.
If you are in the USA or Europe, chances are high that you can make use of Bitcoins.
Other parts of the world often don’t offer Bitcoins as a payment option.
So, if you want to use Bitcoins while traveling or shopping, check in advance whether you can use them there.
For now, I would always rely mostly on traditional money, cash or credit/debit cards.
Bitcoins are great and I love the idea behind them, but I think it will take a few more years before they can replace the money as we know it.
Where Can I Store My Bitcoins?
There are actually savings accounts for Bitcoins that pay interest.
So, it is up to you whether you just leave them in the wallet where you bought it, or transfer it into a savings account.
A really nice site to store your Bitcoins is Magnr.
At the moment the interest rate there is 1.28%. This is not bad compared to what some banks are offering at the moment.
Transferring Bitcoins to and from Magnr is easy and fast.
It is my #1 choice to store bitcoins
Can I Trade With Bitcoins?
Magnr Trading Platform
Yes, you can also trade with bitcoins.
Just be aware that you can lose money (Bitcoins) when you are unlucky.
Do this at your own risk.
Magnr has a trading platform. If you really want to get into Bitcoins trading, just do it with them.
It is super convenient, as you can also store them in the savings account there.
There is a lot of information about the course development available on Magnr.
You won’t really need any other source before you get started with trading.
Again, do this at your own risk!
If you have no experience with trading currencies, you might lose a lot of money.
An Alternative To BitCoins?
There are other virtual currencies, but BitCoins is the best by far.
If you are just looking for a virtual wallet, which uses “normal” money from your bank account, check out Google Wallet.
I wrote an article about it just yesterday.
You can find this article here.
My Personal Opinion About Bitcoins
I am a big fan of Bitcoins and used them while I was living in Europe.
At the moment I am in Southeast Asia and can hardly use them.
I really hope that Bitcoins become popular all around the world.
If you are living in a country that supports Bitcoins, just try them.
You can pay with them in many shop and restaurants already.
Business owners love them for the advantages I listed above.
They might even offer a small discount if you pay with Bitcoins.
What Do You Think About Bitcoins?
I would like to know your thoughts about Bitcoins!
Have you started using them already?
Or do you think it is still too early?
Are they a real alternative to traditional money as we know it?
I hope I was able to answer the questions “What Is The Best Site To Buy Bitcoins” for you.
Also, let me know what you think about Coinbase and Magnr.
I am looking forward to reading your comments below and will answer them as fast as I can.
Have a great day,
Moritz