Bitcoin Buyers

Tips to Buy the Leading Cryptocurrency - Bitcoin!



Bitcoin Cryptocurrency


Bitcoin is the leading Cryptocurency and has the largest share in the digitial currencies trading. Developed as an alternative to the real world currency, Bitcoin is a peer-to-peer transaction system in which transactions are verified through the members in the network.

The unique aspect of Bitcoin is that it is decentralized and is independent of any one country or financial body. All transactions in Bitcoin network are anonymous but are stored in a public ledger called the Blockchain.

As per the inventors of the system, the total Bitcoin issued are limited to 21 million and is determined by the network. The value is increasing at an unimaginable pace from zero dollars at its inception in 2009 to $8000 and growing in 2017. Bitcoin investment are liquid but are not tangible. Although other currencies exist, Bitcoin Buyers must ensure the stability of the systems before investing.

Bitcoin Pros and Cons

Bitcoin Pros and Cons

Bitcoin can be used internationally for purchasing goods and services without any additional charges. Some countries allow Bitcoin transactions while some have made Bitcoin as official currency. The rules of how Bitcoin is accepted or taxed are changing every day. The network is seeing billions of trading and is growing at a rapid pace. Any Bitcoin investment is taxable and the IRS issued guidelines for investment.

Bitcoin is the largest and leading Cryptocurrency and is now recognized as official currency in some countries

Bitcoin Exchanges

Bitcoin Network

Bitcoin Exchanges

Bitcoin is usually mined or bought from the exchanges. Bitcoin Buyers can create the accounts in the exchanges and buy Bitcoin through normal currency. The exchanges follow Know-your-Customer and anti-money laundering policies and hence your investment is safe. Exchanges operate on their algorithms and have Bitcoin matching systems.

Bitcoin is also traded through the Over-The-Counter markets under different ticker symbols such as GBTC. Bitcoin Buyers also buy from different local sellers or vending machines. Bitcoin exchanges are the safe way to buy the Bitcoin as the wallets can be tracked using smart phone applications.

However, the exchanges charge fees for every transaction which may add up significantly and without the buyer being aware of it. The exchanges also lock the transactions during a software update in the Bitcoin system or during the SegWit forks. The overall network is also splitting due to the differences among the users. New currencies are being formed and the Bitcoin Buyers are getting confused.

Bitcoin Buyers must notice that the new crypto currencies rely a lot on the original network and the changes are interdependent. As an established network, Bitcoin has a lot of future and is the most trending in the Cryptocurrency world.

Bitcoin exchanges do not encourage illicit operations and criminal activities

Bitcoin is taxable as a property as per the Internal Revenue Service (IRS)

Bitcoin Buyers: Tips

  • Buy Bitcoins using exchanges that are established
  • Do not keep more money in the wallet
  • Keep a track of all purchases and trading
  • Do not buy Bitcoin with cash
  • Use bank transfer, PayPal, or credit card

  • Keep track of the charges by the exchange
  • Keep the public and private key in a safe place
  • Monitor the buying and selling trends
  • Check for any crashes or lost amounts
  • Have a diverse portfolio and verify before buying

Bitcoin Buyers must keep a track of all wallets, pins, and transactions