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HOW TO BUY AND SELL BITCOIN?

There has been talk in other publications about bitcoin wallets and storage. Once you know how to create bitcoin wallets. And you have some basic notions of how to manage your storage securely. You will see what ways we find to operate with them. That is, how you can buy and sell Bitcoins.

Where and How to Buy and Sell Bitcoin?

Exchanges:

First we find the Exchanges. Once you've created a wallet. You can go to one of the many existing exchanges, such as BitXchange. After you create and verify your account, you'll need to link it to a bank account before you can transfer funds between it and the exchange. Thus be able to carry out bitcoin buying/selling operations.

Cashiers:

On the other hand we have Bitcoin Cashiers. Although it is a relatively recent concept there are several companies that manufacture ATMs from which Bitcoins can be bought and sold. Like BitAccess or Robocoin. In Spain there are not many but in cities such as Barcelona or Madrid have already become widespread. Gradually they are appearing, in the rest of the cities

Buy/Direct Sell:

We may also resort to direct purchase/sale between users. If you prefer to buy or sell Bitcoins between users, without an intermediary. You can contact a buyer/seller and make the transaction personally. LocalBitcoins is the main website for buying and selling Bitcoins in this way. It puts in touch people who offer people they want. The one offering Bitcoins puts the price you want and you can see the conditions it sets to carry out the operation and the ratings of other people who have already dealt with it. Each user can put the price they consider. There is no official or standard price. This site offers a escrow system (intermediary or arbitrator), as a layer of protection to make transactions more secure.

Typically such trades are usually more expensive because the seller uses their reputation as a guarantee of the transaction. In addition to that you will have to adhere to the previously established conditions of sale to get your Bitcoins.

Investment Trust:

For large Bitcoin operations, you will need to resort to Investment Trusts such as the Bitcoin Investment Trust or the Winklevoss Brothers ETF. Where large transactions can be made. This is usually more common among large investors or funds that trade cryptocurrencies.

Security in the purchase/sale of Bitcoins:

When trading with such tools there are things to keep in mind about Exchanges, Wallets and Banks.

Despite the identification processes required, keep in mind that exchanges and wallet providers do not offer the same protections as banks.

For example, the coverage your account has in an exchange is usually limited or does not exist if the company goes bankrupt or is attacked by pirates, as happened in the case of Mt. Gox.

Bitcoin is not yet regulated as a currency in many countries and the authorities do not know how to approach these cases.

Some large exchanges have covered the Bitcoin losses of their users after theft or attacks, but so far they are not legally obliged to do so.

Also, if someone steals you directly from your wallet for not protecting it properly, you are not guaranteed to recover your Bitcoins.

Evolution

The creation of Bitcoin evolved all the technology related to cryptoactives. The creation of blockchain allowed to increase the security of Bitcoin and its transfer between users, as it reduced the risk of attack of the order book.

The creator of the blockchain is the same as that of the first cryptocurrency, Bitcoin. His identity remains a mystery and, although numerous theories emerge every year, such identity may never be discovered.

These technological advances enabled the expansion of the sector and the increase in the number of cryptocurrencies available on the market.

If you are interested in the topic we recommend you also

What are cryptocurrencies and their main features

 

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