How to invest in bitcoins

So you're thinking of investing in bitcoins? OK, that's fine but before you do there are a few things you need to know. We’ll tell you the basics about investing in bitcoins, how you buy them, how to protect and secure your bitcoin investment and why you need to take your investment seriously if you’d like to make serious money from them.

Why invest in bitcoins?

Bitcoins are rare and useful. They’ve been set up to act akin to gold when you trade them, that’s because they’re limited. There are only 21 million bitcoins, and now they’re harder than ever to mine. They’re convenient because they can be sent from anywhere in the globe and no bank can stop payments or close accounts. This makes them a sound currency. You can easily make cross border payments. The impact that the internet had on communication and accessing information worldwide, is the sort of impact that bitcoins are already having on the global financial markets.

Where to buy them

You’ll need to find a bitcoin exchange if you want to pile your cash in them. The country you’re based in makes a difference to the way you buy bitcoins. We’d recommend using Coinbase, who are the largest bitcoin broker. You’ll need to be based in the UK, the US, most European nations, Singapore or Canada to use their service.

How to secure your bitcoins

As you'd expect from a currency that's traded online, you'll need to get it secured from hackers. We recommend that you invest in Bitcoin wallets. Ledger Nano S offer a service that should be checked out. We also recommend that you take a look into using a hardware wallet, which can be supplied by a firm like TREZOR.

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