The benefits of bitcoin, decentralized currency, peer-to-peer transactions, fast & secure cross border transactions, are vast. However, since it is a digital, universal currency; to buy bitcoin first requires what country you reside in. To buy Bitcoin, each country (and exchange) has it’s own rules & regulations. To read more about country-specific regulations click here.
Now we established what country you’re in, we need to find an exchange.
Exchanges are the fastest and easiest way to buy Bitcoin.
Let’s say you’re in the US and located in New York. You will need to open a Coinbase exchange account <link and follow their procedure. (Coinbase is one of the few exchanges in new york that is licensed <link to glossary bitlicense>, to sell new york residents cryptocurrency.)
After you’ve purchased your crypto, the funds can be stored on the exchange itself or inside a wallet of your choice. (Wallet storage is highly recommended.)
In the case of Coinbase also acts as hot wallet so you have the option of storing your bitcoins there. For alternative storage options, click here. (<Link to types of storage article).
Disclaimer: BitcoinGlossary.org is not giving investment advice. This is purely educational information. With any investing, please take extreme caution and understand your money is never safe.
