Buying Bitcoin is easy; however, you need to have some essentials before actual buying. For instance, you need a wallet for this purpose. Wallet is a way to store your Bitcoins; you can make it in your personal computer and at the same time you can get it from some reliable source. This is software that has been designed to store Bitcoin.
It is also important to know that when you are buying Bitcoin, you need to know that these must be stored in a safe wallet as there have been a lot of cases where these have been stolen by hackers. Therefore, you need safe and secure wallets which are being offered by renowned wallet services providers. Your personal computer is unsafe comparatively; therefore, make sure that you get it from a third party.
Some Popular Wallets:
Armory is a popular Bitcoin wallet; it runs on top of Bitcoin Qt, so it has all of the same syncing requirements. Allowing Bitcoin owners to back up, encrypt, and store their Bitcoins off line. Another good option is Bitcoin Qt which in fact is the original wallet with complete features e.g. here you can create multiple addresses to receive Bitcoins, send Bitcoins easily, track transactions, and back up your wallet.
You may also look for Multibit which is a lightweight wallet that syncs quickly and considered excellent option for new users.
How Not to Buy Bitcoin?
You know how to buy Bitcoin but it is equally important for you to know that there are some sources that you should avoid when buying them. The obscure sources of Bitcoin should be seen skeptically and avoided like the plague as there are not one but several fraudulent sources that may cheat you when you go to buy Bitcoin from them.
Moreover, when you buy Bitcoin you cannot reverse the process. Whereas credit cards and PayPal have strong buyer protection policies that make them relatively easy for people to request a chargeback, there is no such provision or scope when you are buying Bitcoin. Therefore, for pragmatic reasons you should avoid buying Bitcoin from such obscure sources.
It is also important to know that when you are buying Bitcoin, you need to know that these must be stored in a safe wallet as there have been a lot of cases where these have been stolen by hackers. Therefore, you need safe and secure wallets which are being offered by renowned wallet services providers. Your personal computer is unsafe comparatively; therefore, make sure that you get it from a third party.
Some Popular Wallets:
Armory is a popular Bitcoin wallet; it runs on top of Bitcoin Qt, so it has all of the same syncing requirements. Allowing Bitcoin owners to back up, encrypt, and store their Bitcoins off line. Another good option is Bitcoin Qt which in fact is the original wallet with complete features e.g. here you can create multiple addresses to receive Bitcoins, send Bitcoins easily, track transactions, and back up your wallet.
You may also look for Multibit which is a lightweight wallet that syncs quickly and considered excellent option for new users.
How Not to Buy Bitcoin?
You know how to buy Bitcoin but it is equally important for you to know that there are some sources that you should avoid when buying them. The obscure sources of Bitcoin should be seen skeptically and avoided like the plague as there are not one but several fraudulent sources that may cheat you when you go to buy Bitcoin from them.
Moreover, when you buy Bitcoin you cannot reverse the process. Whereas credit cards and PayPal have strong buyer protection policies that make them relatively easy for people to request a chargeback, there is no such provision or scope when you are buying Bitcoin. Therefore, for pragmatic reasons you should avoid buying Bitcoin from such obscure sources.
