Where how and why Bitcoin ( investing , using , store of wealth ) wallets and security .
Ive been using bitcoin now for 2 years and slowly building up the amount of coins i own .
Now im no expert at this or investing so do you own research there is no such thing as a sure bet
and learning is the best way to avoid financial stress .
Ok so where do you buy bitcoin from in the UK , i tried many sites to begin with and even lost some money early on , i looked searched for a company with at least 2-4 years operating experience and
a good record with good chat or support access .
2-4 years and you know they have the staff and site to operate and handle most situations and that they are established .
good record is obvious and chat support give peace of mind , saying that i joined 4 or 5 companys till i found the best , and they are Coin Corner open since 2014 , now this company only currently buy and sell bitcoins which is a pain as i like other altcoins too but its easy to send your bit coins to an exchange and trade for other altcoins as you wish so its only a minor issue imo .
and at least you know Coin corner is not over stretching itself buy trying to operate in all coins and is expert and reliable in Bitcoin .
So how do you go about buying bit coin why and what is it .
Basically its digital currency bitcoin is the first and largest market cap of these and so far has passed every test thrown at it and recovered to be now very valuable .
it is very early in it adoption and only a fraction of the worlds population have a bitcoin account meaning there is the potential for massive growth .
why would you buy it , its still early so may go up 10x 100x you never now , its a limited digital (21 million bitcoin but can be divisible ) currency meaning our politicians cannot print any and inflate it away .
its a good store of wealth as compared to money / cash with inflation always destroying its value when you look at prices today compared to early last century you can see the destruction done to our
it is a currency and is accepted widely online and more and more in the high street .
there are many other positives but like i say im not an expert these are the reasons i bought , you may find others .
are there negatives , yes , it can go down in value as with all investments you need to take educated risks and compared to cash imo its a winner .
its digital and open to attacks , these have been attempted some succeded but over time bitcoin has grown stronger .
there may be other issues but i believe the positives out way the risk .
I have a lot ( to me but nothing major ) of money in bitcoin and some other altcoins
i also have silver and gold as well so diversify as they always say .
I dont touch stocks ( although some make a lot of money via stocks ) and shed cash as soon as possible .
Top be continued
Join Coin corner now to buy bitcoins they even give you a free online or mobile phone downloaded wallet to use and store bitcoins
Next to follow
How to open account and buy - sell bitcoin via CoinCorner
First go to register page its similar process to the thousands of other sites we have joined before only with a little bit more info .
You will then be required as usual to comfirm email to access site .
You then need to upload copies ( make sure they are colour ) of you passport for your ID and drivers licence for address.
or a bank / bill statement will do for address.
you then need to wait for confirmation which was fast , im still waiting for others weeks after joining on some sites .
depositing is easy too you can withdraw from bank or credit card with netseller and sepa as 2 alternative payment types .
Bank transfer is free but takes 2 days to clear , you need to be able to set up payments in your
bank as well but all information is given.
credit - debit card payments are limited to begin with starting at £50 with 2 transactions daily only and also a massive 2.50 per transaction fee which at £50 a time soon mounts . This is due to the large amount of fraud directed at these companies at the minute so you cannot blame them from wanting bank transfer for safety .
Once you join as above to CoinCorner you get a freec online wallet to store bitcoins and ability to send and receive them
sending and receiving is very easy just add address to send to or receive from and the amount of bit coin you need , you then need to wait it can take 30 minutes for other on the network to confirm the transaction .
How to send video
How to receive video
How to protect your Bitcoins
The truth is wallets are very easy to use and convenient but are not protected against loss
so when you start to get a good amount of Bitcoin id say 1 bitcoin £2000 plus id look into cold storage which is basically like a hdd or usb stick where you can store your bitcoins safe offline and they usually have back up protection and online protection inlcuded . Read more about hardware cold storage wallets here
So there you go its very easy to get started and more and more reasons to buy into bitcoins