HOW DO I BUY BITCOIN?

The best way to buy bitcoin is to open an account on your local exchange. There are new bitcoin exchanges popping up around the world so it’s usually a good idea to find one that can work with your local currency. Make sure to conduct proper due diligence on any exchange before sending them your money. I personally use a Canadian exchange called Quadrigacx when I need to cash out or pay bills. This exchange will also work internationally via bank wire for anyone who’s not in the U.S.

U.S. residents can use an exchange service like Coinbase and link up their bank accounts to it. Most fiat exchanges will ask you to verify your ID due to KYC regulations. This generally requires submitting a copy of your ID and proof of address. The verification processes can sometimes take longer when exchanges get a flood of new market participants.

Make sure that you use 2FA (2-Factor Authentication) on all your exchange accounts. This is a secondary password generated from a smart phone application such as Google Authenticator or Authy.

2FA is extremely important because without it someone can easily hack into your account. If someone manages to crack your password they still won’t be able to access your account unless they have your physical phone. Make sure you write down and save the secret key in case you lose your phone.

Once your account is fully secure you can purchase your first bitcoin. This is often done by making the purchase on the exchange order book. Each side of the book has buyer and sellers, the market price is determined by whatever orders are available. If you don’t like the market price you can always set a lower order but there’s no guarantee you’ll get a fill.

Unless you are actively trading, exchanges should not be treated like a bank. There is counterparty risk by leaving money on an exchange and if they get hacked you could lose it all. I hope this help you #Let's steemit together!!! #positive vibe!!!