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Everything You Need to Know About Bitcoin Buying and Selling

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Everything You Need to Know About Bitcoin Buying and Selling

You’ve done your due diligence of reading about and asking experts regarding their take on bitcoins. Why all the hype, and what’s behind the genuine and valid reason of hopping onto the bandwagon of buying and selling bitcoin?

So, how do you get starting with bitcoin buy-and-sell?

How Bitcoin Works (User-Perspective)

1. Select Your Bitcoin Exchange 

A cryptocurrency exchange is a medium, others refer to them as actual “companies” (and they are because they operate using the same business frameworks of traditional financial institutions… to some degree), whose services you can utilize to exchange fiat currencies to bitcoins.

Money, “hard” money as many like to refer to financial assets, whose worth are based on what a government’s economic standing against the global economy is, can be deposited into these cryptocurrency exchanges. 

These exchange platforms act as your money-converter, if we may call them that. They will convert your money into their bitcoin equivalent. Try to recall how you “exchange” your currency to that of another country’s, via your bank, or a third party financial institution (or even the black market). 

The same process takes place with cryptocurrency exchanges. Only, instead of converting your cash into another currency, you will basically be converting them into their worth in bitcoins. You can link your bank account to the account you are to create on the exchange platform.

2. Your Bitcoin Wallet 

Bitcoin wallets are similar to a “bank account”. But we are careful not to use the two terms synonymously because, in function, each one is different from the other. A cryptocurrency wallet works specifically for bitcoin investing. It will be your multi-function “assistant” in buying, selling, and storing bitcoins. This exactly what a bitcoin wallet app does. 

It stores and/or holds public, as well as private “keys” which you can easily access for your personal cryptocurrency transactions. These cryptocurrency keys are the stronghold of your wallet app. In simpler terms, the security of every user, as well as that of each user’s wallet, is safeguarded by these keys. Among many other variables. 

But to focus on these two, public keys are codes to identify the location of users (don’t be alarmed by the word “location”. It merely indicates how the system identifies where users are, to facilitate better, more secure transactions). On the other hand, private keys allow you sole and private access to your wallet. 

Once you’ve downloaded your bitcoin wallet app, fill in the necessary information required and sign up. After all, this is the wallet in which you will be transferring funds from the cryptocurrency platform to facilitate buying and selling on bitcoins. 

Next, verify your account and voila! Just like that, you have a bitcoin wallet. As our way of telling you to take precaution, ensure that the wallet you are to download is accredited. Check on its ratings and reviews. 

3. Buy (and Later, Sell) Bitcoins!

What you can do is take a glimpse of the current prices. Do not fret if you log in one moment as see a certain price, then log in again later during the day and watch it fluctuate. This is normal in the world of cryptocurrency. 

The prices of bitcoins can change dramatically, and not even overnight, but sooner! Additionally, these price fluctuations do not have a trend. They are not like traditional stocks, whose trends can be observed, studied, and later on predicted. 

Therefore, it will be totally up to you. If you ask us, that’s a win! Because it will be “fair” competition and fair game. Once you set your eyes on a price you like, hit the button for “Buy”. When buying or selling, always check if there’s an exchange fee (and there usually is) and how much the amount required will be. 

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    Total 11 comments
    • Anonymous

      bitcoin is like buying fresh air in a can…the scam,illusion works until the day is doesn’t-someday the gooooovermint will take over all the “coins” and issue their own .or maybe it will say all competing “coins” are illegal like they did with currency in the usa,there used to be many different “dollars” in the usa-each bank issued its own and then the treasury said only a usa goooovermint issued dollar is legal tender-bitcoin is like holding a burning match and passing it to somebody else–the last person gets burned…


        Bitcoin is an illusion just like currency has been. Physical silver and gold.

        • Anonymous

          i am a gold and silver guy,BUT there is no alternate to the usa dollar,none,zero–my company does about 800 billion in world trade each year,only in usa dollar..the dollar represents every person in the usa,good or bad,every aircraft carrier,army,air force,all of it,every piece of real estate,our rule of law,court system,even our presently screwed up(in happens in cycles) polictical process–there is no place like the usa even on its worse days…

          • Anonymous

            bitcoin represents nothing,it is a trading game–i have made big bucks in it but it is bs–people say how about the usa debt? the debt is an illusion also–does not exist-will never be paid back-bond holders will get wiped out–pensions in the toilet-the usa debt is only a operating expense,nothing more-as long as the expense can be met this can go on forever but someday the usa will not be able to float its game then look out!! got gold,sliver?

      • Fake News = The False Prophet

        In the final understanding ALL forms of money are an a illusion, including silver and gold IMO.

        Once everything was free. Then some fool invented money. Slavery, control and destruction was the ‘intended’ result.

        Whether someone is paid to build a road or not paid to build a road the ‘same people’ have nevertheless built a road.
        People do not work for money. They work for the things money can buy.
        How many needs that are currently being paid for could actually be provided for in other ways?
        If everyone had all the money they ever needed the effect would be the same as if everyone had none.
        Is everything alive, even rock, gold and silver etc. until we kill it by blasting it out of its natural environment?
        Are words like Busy ness, In dust ry, Corporeal ation and Current cy clues to the reality?
        What if so called ‘precious’ resources were able to be created?
        If we desire, are we free?
        What is selfish and what is unselfish?
        What do we really need and what could we do without.
        How much could be achieved by treating our neighbours as ourselves.
        People are forced to work in jobs they don’t really wish to do. What if that was no longer the case?
        Why do people identify their (self) worth with their job? What are they without that job? What would they have done?
        What would happen if free energy, healing, replication, manifestation technologies became a reality?

        It seems possible to me that what we have called progress and civilisation is actually a…

        • Fake News = The False Prophet

          a criminal and destructive endeavour and is in no small way part and parcel of the problem we face today. We have been duped into pride, greed, lust, wrath, gluttony, envy, and sloth and everything to do with money seems like one big ode to Lucifer.

          I don’t know. But it seems to me that a lot of what we assume is necessary, such as government, democracy, business, towns, cities, borders and a 1001 other possible products of brainwashing need to be carefully re-evaluated because from what I can see many of these and other concepts are not naturally derived at all. So it is a conversation that at some point needs to be had.

          And don’t give me the communism rollocks response. We have never seen communism in this world. It’s a label given to tyranny to dupe idiots into supporting their emperor ambitions and at the same time derides the very real possibilities that might arise from genuine community endeavour. Plus we are where we are.

    • Fake News = The False Prophet

      “Because it will be “fair” competition and fair game.”

      You Crypto guru type people are ridiculous. “Price everything in satoshis”. You are having a laugh.

      Here’s the truth:

      The 1 % that own all the money own most of the BTC, and can buy any amount of any crypto whenever they wish to.
      Because every crypto is priced behind the scenes in BTC the whole market can be rigged, and is rigged, by manipulating BTC.
      All exchanges that I have seen are involved in the racket.

      What this means in practise is that any actual fiat put into the crypto market can be reduced to a net worth of zero, or whatever, by the large BTC holders manipulating the price. Of course they cannot make it too obvious and people can get rich. But many more lose their shirt. It’s another funnel for wealth transfer from the little guy to the big guy and has many sneaky tricks going on across the industry.

      I have never been hacked. But I have lost money. KYC information has been hacked from those who ask for it. Developers introduce time limited swaps. Developers believe the investor should bear the cost of their alterations. Some developers are just outright criminals. The promise of cheaper than bank transaction costs couldn’t be more wrong in many cryptos. Exchanges delist coins into oblivion. Exchanges are up to all sorts of shenanigans in reality. Even the pairings are a racket. The SEC are a mafia type shakedown organisation. If they get involved you will lose money. Government…

    • Fake News = The False Prophet

      Government can suddenly decide they don’t like a particular venture and shut it down. Official staking solutions run off with your funds. At any point any government can shut down any aspect of these systems. Derivatives, shorts etc. all create the same problems in crypto as they do with fiat. Behind the scenes everything is priced against Bitcoin which is why the whole market fluctuates in sync. So they only have to rig BTC to control the whole market. If they were priced against the dollar that couldn’t happen, at least not so easily. Then there’s Tether and the known pedos running it. Scarcity is an illusion. You can fork anything as many times as you want. Introduce any amount of coin. The difference exists only in people’s heads. Robot trading. advanced information for special interest groups, insider trading. These are just a few hidden ways that crypto is akin to a criminal venture at present. They like to use apps like telegram and discord. This allows for censorship of information they do not like (such as this). It gives a great platform to scammers. It means answering the same questions over and over. You will need to be constantly watching every piece of news about every crypto you hold. Promotions abound that require twitter, facebook, mobile phones and a seemingly endless verification process. It’s all absolute rollocks. A superb example of supposedly clever people who have very little common sense. Can you make money? Yes. But most people will be…

    • Fake News = The False Prophet

      But most people will be swimming with sharks and it is not a pleasant experience at all. Crypto is a trojan horse.

      The question everyone should ask themselves is what happens when fiat no longer exists?
      Because that is where the great danger will finally be realised, by the crypto gurus promoting the great ‘decentralisation scam.
      They will take everything off you like taking candy from a baby.

      The truth is, its the most centralised system the world has ever seen and is intended to control every resource, every action, every movement, every breath, all life, all health etc. and actually marks the changing of the guard from human controllers to AI controllers and emotion will be deemed obsolete.

      The best thing that could happen to the crypto market is Bitcoin disappearing into oblivion.

    • Fake News = The False Prophet

      Kryptonite was the achilles heel of Superman and its colour is green.

      People are telling us stuff left, right and centre once you start to look.

      Who and what is superman really?

    • fryfg

      I believe that when buying or selling bitcoins, it is important to use the converter satoshi to usd in order to calculate the exact amount you need. To use this calculator, simply select your currency and enter the numbers in the field to find out the value of Satoshi in the desired currency, or vice versa.

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