1 subscription and 0 subscribers

Grandmas guide to buying bitcoin

Grandmas guide to buying bitcoin
Here is grandma’s guide to buying her first bitcoin. Also if you're like grandma, this article is for you. For that reason, it will be very simple and straightforward. Maybe you learned the US presidential election will affect the price of bitcoin and wondered how to buy. Next, a million-dollar question: what could be the easiest way to buy bitcoin.
What is Bitcoin? 
Before then, let’s assume you are alien to the word “bitcoin”. Bitcoin is a digital currency that allows pseudo-anonymous and peer to peer transactions without the need for trust. Contrary to other digital currencies, bitcoin is built on a trustless system called the blockchain.  
Simply put, Bitcoin allows you to pay for bills in a peer-to-peer system without the need for a third party.
Now that you know what bitcoin is, it is not enough.  Another is about a bitcoin wallet. Concurrently, a bitcoin wallet is what stores your bitcoin private and public keys. Wallets can be hardware or software, otherwise called cold or hot wallets respectively. By implication, you can secure your keys offline or online, as you so desire.
Steps to buying bitcoin
Having satisfied the prerequisites, below are step by step guide on buying bitcoin;
Sign up on a cryptocurrency exchange
Similar to fiat where you need merchants or exchangers to obtain, you need cryptocurrency exchanges or merchants to own bitcoin.

Read the full article