CRYPTO-CURRENCIES NEWS: 3 Steps Before Buying Bitcoins
Start small
From personal experience, I strongly recommend those wishing to buy bitkoy begin with a small investment ... no more than the cost of one bitkoy, which today is almost $ 3 thousand (If you want, you can buy less than one bitkoyna).
The process of buying, sending and storing bitcoins is different from traditional online banking and investing. If, for example, you send bitcoins to the wrong address, you can not just call the bank and cancel the transaction. Therefore, it is critical to first get acquainted with the mechanism of buying and sending bitcoins on a relatively small amount, and only then raise it.
Record everything
Paradoxically, although Bitcoin is a state-of-the-art technology, you should record all information about your bitcoins offline. That is, you will have to use a pen and paper or at least a Microsoft Word document that can be printed.
To store and send / receive bitskonov need to get an electronic wallet. It is here that you will "hold" your bitkoyny.
The purse has a public key (which can have the following form: 1GwV7fPX97hmavc6iNrUZUogmjpLPrPFoE), where bitcoins are sent. This is something like the name of the account.
In addition, there is also a private key. This can be either an alphanumeric series, similar to the above public key example, or a long sequence of random words generated by the wallet. This is the "password" that is used to access the wallet.
In any case, trustworthy purses do not have the option "Remember Password". If you lose or forget the private key, you will lose access to the wallet. And lose your investment.
Do not store money on the exchange
In order to convert cash into bitcoins, you need to open an account on the exchange.
This usually takes several days, because the exchange will need to carry out the procedure " know your customer" (KYC). That is, the exchange will conduct a standard verification of the person to know who you are, and make sure that you are not wanted.
After opening an account, it can be replenished by bank transfer - or in some cases by credit card - and then bought by bikkoy.
If the exchange on which you bought (and left) bitcoins, hacked, you can lose money. This happened in several resonant cases.
For example, in 2014 bitcoin-exchange Mt. Gox, which at that time accounted for almost 70% of the total trading volume of BTC, declared bankruptcy due to the loss of 750 thousand client bitocons . At current prices, this is $ 1.5 billion.
The safest place to store bitkoynov - personal wallet. Example: Blockchain and Coinbase
