How to Buy Your First Bitcoin

[smithd98@gmail.com]

One of the questions I get asked all the time is How do I buy my first bitcoin.

I put together a comprehensive guide to buy bitcoin for people who want to buy their first bitcoins.

The step-by-step post covers:

• Coinbase - the option most people want.
• LocalBitcoins - if you NEED bitcoins today.
• Buying bitcoin with a brokerage account (IRA, 401K, etc.)
• BitWage - how to get a portion - or all - of your salary in bitcoin.
• Exchanges - for bitcoin traders and experienced investors.
• Why Bitcoin Mining is a bad way to get bitcoins.

If you are a beginner looking to buy bitcoin, let me know what you think.

--dave

[Amph]

i don't agree on bitcoin mining being a bad way to earn bitcoin, it depend

if you have free electricity or at least very cheap, you can do it without thinking, you will have a very high chance to roi, without doing the trick of selling your miners after 3 months

with that trick you can actually take big profit and in a short time, if you invest big

[vendetahome]

though i wouldnt still recommend mining bitcoins if you have to buy all your hardware as its pretty risky also a guide seems to be pretty cool

[Mickeyb]

One of the questions I get asked all the time is How do I buy my first bitcoin.

I put together a comprehensive guide to buy bitcoin for people who want to buy their first bitcoins.

The step-by-step post covers:

• Coinbase - the option most people want.
• LocalBitcoins - if you NEED bitcoins today.
• Buying bitcoin with a brokerage account (IRA, 401K, etc.)
• BitWage - how to get a portion - or all - of your salary in bitcoin.
• Exchanges - for bitcoin traders and experienced investors.
• Why Bitcoin Mining is a bad way to get bitcoins.

If you are a beginner looking to buy bitcoin, let me know what you think.

--dave

Hey Dave, welcome and thanks for making this very nice guide! I will bookmark it and share with people who I introduce to Bitcoin and who might ask me the same questions as people have asked you!

Even though there are some things that I wouldn't do as a beginner, I think that these things are OK to slide for the beginners! They will get away with them.

[Possum577]

One of the questions I get asked all the time is How do I buy my first bitcoin.

I put together a comprehensive guide to buy bitcoin for people who want to buy their first bitcoins.

The step-by-step post covers:

• Coinbase - the option most people want.

This is a great guide. Calling  out Coinbase as the only online wallet is a bit misleading, no? How do you know it's the wallet that most people want? In  fact, most people here would tell you they don't want to use Coinbase for several specific reasons. What about Xapo? What about Circle? [/list]

[gentlemand]

Very good overall but it could do with an international rundown too. It's very different from country to country. It might be a giant pain up the arse to include but perhaps it could link to separate pages.

[smithd98@gmail.com]

i don't agree on bitcoin mining being a bad way to earn bitcoin, it depend

if you have free electricity or at least very cheap, you can do it without thinking, you will have a very high chance to roi, without doing the trick of selling your miners after 3 months

with that trick you can actually take big profit and in a short time, if you invest big

Yeah those are good points. I might reword what I said.

Thanks!

[smithd98@gmail.com]

Hey Dave, welcome and thanks for making this very nice guide! I will bookmark it and share with people who I introduce to Bitcoin and who might ask me the same questions as people have asked you!

Even though there are some things that I wouldn't do as a beginner, I think that these things are OK to slide for the beginners! They will get away with them.

Thanks Mickeyb!

If there is something you want to share privately re: things you wouldn't do as a beginner feel free to email me: dave@bitcoinbulls.net

Thanks again!

--dave

[smithd98@gmail.com]

This is a great guide. Calling  out Coinbase as the only online wallet is a bit misleading, no? How do you know it's the wallet that most people want? In  fact, most people here would tell you they don't want to use Coinbase for several specific reasons. What about Xapo? What about Circle? [/list]

Hmmm I did want to make one recommendation per Category to make it simple. I definitely didn't intend to mislead people.

Initially I used Circle for day to day purchases, but I went back to Coinbase for some reason (buy limits? habit?)

I haven't used Xapo, but I think I have an account there...

Thanks for the thoughts! I might reword some of the wallet section.

[smithd98@gmail.com]

Very good overall but it could do with an international rundown too. It's very different from country to country. It might be a giant pain up the arse to include but perhaps it could link to separate pages.

I had given a little though to internationalization you are right on it is VERY US centric - almost to the point of not being useful (or harmful) to other nationalities?

I wonder if I could do some type of switch based on language...

What do you think? I've only ever lived in the US so I'm not sure what expectations (or frustrations) are in other countries visiting US-centric pages.

Feel free to email if that is better for you: dave@bitcoinbulls.net

Thanks for the thoughts!

--dave

[gentlemand]

Yes. A lot of those services won't be accessible to other countries. Some countries have better set ups than the US. It's more of a grind to include it for you but there's no clue that it's a US only page when you arrive there.

[rkandrades]

It depends.

Here in Brazil, there is a fantastic site working as a exhange bitcoin/peercoin market.

www.mercadobitcoin.com.br

I'm buying bitcoins from them weekly.

Fully recommended.

[Anmol_Verma]

you can buy 1 bitcoin with the method that suits the most and by which you are more comfortable like you can buy online or deal with localbitcoins for offline buying,you can buy also with exchange services like btc-e.com which can accept deposit with bank wire.

[dothebeats]

i don't agree on bitcoin mining being a bad way to earn bitcoin, it depend

if you have free electricity or at least very cheap, you can do it without thinking, you will have a very high chance to roi, without doing the trick of selling your miners after 3 months

with that trick you can actually take big profit and in a short time, if you invest big

The fact is, the difficulty is insanely high and not all of us live in areas where electricity comes cheap. But, if you got plenty of cash in you, go to China, create a farm and see your sweet miners generating good income for you.

[Revelation Machine]

i don't agree on bitcoin mining being a bad way to earn bitcoin, it depend

if you have free electricity or at least very cheap, you can do it without thinking, you will have a very high chance to roi, without doing the trick of selling your miners after 3 months

with that trick you can actually take big profit and in a short time, if you invest big

The fact is, the difficulty is insanely high and not all of us live in areas where electricity comes cheap. But, if you got plenty of cash in you, go to China, create a farm and see your sweet miners generating good income for you.

If your looking to spend around half a million that would be a good idea.
IMO, waiting for next generation miners is a good plan.

[dellboygold]

Can buy Bitcoin using Paypal balance? Which site?

[avatar_kiyoshi]

Can buy Bitcoin using Paypal balance? Which site?

https://www.virwox.com/ but the fees is make your butt hurt

I don't know other trusted site to trade paypal to btc.

[gentlemand]

Can buy Bitcoin using Paypal balance? Which site?

Do yourself a favour and send your paypal balance to a real bank account. You'll get far more coins for your money. The most established method is buying Linden dollars with Paypal on virwox.com and then exchanging them for bitcoin but the fees are enormous.

[pooya87]

i don't agree on bitcoin mining being a bad way to earn bitcoin, it depend

if you have free electricity or at least very cheap, you can do it without thinking, you will have a very high chance to roi, without doing the trick of selling your miners after 3 months

with that trick you can actually take big profit and in a short time, if you invest big

but mining is not an act that can be done at home. even with cheep electricity, it still is going to produce a lot of noise and heat. besides you have to keep a system running for long hours which can be annoying.

maybe it is just me but i will never consider mining even if it gives me good ROI

[Laosai]

Can buy Bitcoin using Paypal balance? Which site?

I found this site somewhere in this forum before https://wesellcrypto.com/ where you can buy bitcoin (and some altcoins) with your paypal balance, I never tried it though, Feel free to check it out but make some research first about the site, and also check their customer's feedbacks