How to Easily Buy Bitcoin and Ethereum

So What’s All The Buzz?

Bitcoins? Ethereum? Words that were barely mentioned last year (2016) by most of the major financial news sites such Forbes, Fortune, Wall Street Journal, Nasdaq, financial sections of the New York Times and Washington Post, etc. This year they’re all reporting it constantly. The meteoric rise of cryptocurrencies such as Bitcoin which was up more than 180% this year. And even more impressive was Ethereum which was up by 2000%! Most analysts believe this is just the beginning of what they see as the financial opportunity of a lifetime.

This site has been receiving tremendous number of requests from our readers for a ‘how to’ on getting into this lucrative crytocurrency market. Here’s our humble attempt to provide an easy ‘how to’ guide for buying your first bitcoin. Hope it helps! 👍

#1) First, Find an Exchange

The first step is to find an exchange that will accept your fiat currency (USD/EUR/GBP…) with a transfer method that is available to you. There are several such exchanges, some regulated some not, all over the world and it is highly advised that you check for yourself which one you trust with your money. Two of the most popular and convenient-to-use options that you can look into are Coinbase and

COINBASE – Simply Put, The Easiest To Set Up & Use
Whether you’re purchasing bitcoins, ethereum, or litecoins, pretty much everyone who buys and sells crypto coins online on a regular basis will tell you that Coinbase is the most convenient and ‘easy to setup and use’ option available. Currently there are over 8 million users from over 30 countries that utilize the service, including the US, Canada, most of Europe, Australia, Singapore, etc. And that number is still exploding. Payment methods such as credit card, debit card, and bank transfers (ACH) are available. Purchases made via credit/debit cards are usually instantaneous, while bank tranfers (ACH) could take anywhere from 3 to 5 days. Once a purchase goes thru, the coins are deposited into your online wallet at Coinbase. Visit their site for more details.. – The Next Best Thing
Another option is to buy bitcoins with cash using Depending on the seller/provider, the options vary from a direct person-to-person exchange or making cash deposits at a local bank branch that the seller specifies. Sellers all have customer reviews and ratings so can check to see which seller you feel comfortable working with. Payment methods such as cash, Neteller, Webmoney, Skrill, Moneybookers, PayPal, Western Union and more are available.Like Coinbase, you’ll have an online wallet thru your account that you’d open at Localbitcoins. Visit

#2) Next, Get an Offline Wallet As Your Main Storage & Backup

Security: Online vs Offline Wallets:
Although you’ll have an online wallet at exchanges such as Coinbase and Localbitcoins, most people prefer to download and store most of their coins to an offline wallet. The reason being that online exchanges have had their share of hacker break-ins in the past. (Mt Gox and Bitfinex for example, were hacked a few years back and most of the coins in these exchanges vanished.). So most bitcoiners feel it’s best not to have all their coins sitting at an online exchange for too long. Just in case something like a ‘Mt Gox’ were to occur again.

Accesibility: Online vs Offline Wallets:
Online wallets that are under exchanges can also have access issues from time to time. Even trusted online exchanges such as Coinbase have had serious ‘growing pains’ this year in trying to keep up with the growing demand for bitcoins. This created a order ‘bottleneck’ which briefly crashed the site, making it inaccessible for a short while. And this has happened a few times.). So it’s another reason why it makes sense to set up an offline wallet that you have complete access to 100%.

Types of Offline Wallets:
Software Wallet (Desktop or Mobile):
You can easily download the software from trusted sites such as For your mobile phone, you can download Blockchain’s Bitcoin Wallet for iOS or Bitcoin Wallet for Android. Making transactions via mobile is a snap. These are all free btw. (You should always click on the option to encrypt your wallet once installed. This is very easy to do. It’s just an option you’ll see on your wallet’s control panel.).

Hardware Wallet:
This is hands down the best way to go about storing your bitcoins long term. It is definitely the most secure way to keep it. If, heaven forbid, a hacker ever broke into your PC looking for bitcoins, it could mean adios to your coins. But this becomes impossible with a dedicated hardware crypto wallet. The 3 most popular options for this are Ledger Nano, TREZOR, and KeepKey. The size of a hardware wallet is pretty small. Usually the size of a USB thumb drive or flash drive.

Ledger supports Bitcoin, Ethereum, Litecoin, Ethereum Classic, Dogecoin, Zcash, Dash, Ripple, Stratis, Komodo
KeepKey supports Bitcoin, Ethereum, Litecoin, Dogecoin, Dash and Namecoin.
TREZOR supports Bitcoin, Ethereum, Litecoin, Dash, Ethereum Classic and ZCash.

Hope This Helps! 👍

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What Are BitCoins?

Bitcoins are a decentralized, open-source, worldwide digital currency. It is not controlled by any bank or owned by any government.

Unlike other currencies (which can be easily manipulated and controlled) Bitcoin transactions are transparent and can be verified on the global Bitcoin spreadsheet – referred to as the “BlockChain”.

The BlockChain is made up of thousands of computers around the world, all verifying transactions within the Bitcoin network.

The spreadsheet (BlockChain) is actually duplicated and synced live around the world through thousands of computers. This process is very similar to a peer-to-peer system which has no focused centralization, thereby not allowing any single person or organization to manipulate the BlockChain data.

The only essential component that you need to perform Bitcoin transactions is a Bitcoin wallet. Bitcoin wallets are free – you should never have to pay to use a Bitcoin wallet. You can download and install Bitcoin wallet software on your computer (or mobile device) or you can sign up of an online wallet service.

Bitcoin transaction fees are either at 0% or a tiny fraction compared to the cost of a credit card transaction or a bank transfer fees. Also, when compared to other international online transactions, the time taken for verification is dramatically reduced – on average; a transaction is verified within 20 to 30 minutes.

Why Are Bitcoins Better Than Traditional Currencies?

Unlike traditional currencies, Bitcoins are not printed. There is simply no need to do such a thing – it is completely unnecessary.

Banks around the world simply print out more and more money in a vain attempt to cover their national debt. This constant “money printing” floods the market – thereby reducing the actual value of the currency.

Bitcoins however are created digitally by many people around the world. Do you have a good working computer? If you do, then you can create (mine) Bitcoins. Bitcoins are “mined” using computing power in the distributed worldwide network. “Bitcoin Mining” is the task of processing and securing each transaction to verify and lock them into the “BlockChain” ledger.

So is there an upper limit to the total amount of Bitcoins that are in use around the world? Yes there is. The Bitcoin protocol – the code and mathematical rules that Bitcoins are based on state that there will only ever be a total of 21 million Bitcoins created by miners.

This finite number means that Bitcoins are deflationary, rather than inflationary like all other national currencies; i.e. because the banks are constantly printing more money to cover debt and to fill new loans, the value of the other currencies as a whole falls – thus we have inflation.

However with Bitcoins, only 21 million can ever be created, so this currency is deflationary. As the demand for Bitcoins rise, so will its price, since there is a fixed, definite, limited supply of Bitcoins to trade.

Now you’re probably asking yourself “Well if there are only 21 million Bitcoins to trade, how can this be all shared with billions of people”? Well here’s the answer. Every individual Bitcoin is broken up into 8 decimal places (0.00000000) so there are 210 trillion units of Bitcoin in use. There are more than enough Bitcoin units (also known as satoshi) to share with everyone around the world many times over.

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Bitcoin Analysis for Profit Generating Trading

When you are trading the digital currency Bitcoin, it is quite important for you to not just have access to the latest Bitcoin news but also to comprehensive analysis so that you are able to make informed decisions. There are basically two different ways to analyze the Bitcoin market e.g. fundamental analysis and technical analysis.

Thus, out of the two Bitcoin analysis available, you should try to know more about them and determine whether you should use both or one of them. Needless to say fundamental Bitcoin analysis which is a type of market analysis where you study the economic situation of different countries, you can get better idea using this.

Comfortable Trading with the Bitcoin Analysis from Experts

The Bitcoin analysis done by the experts comes with several rich features and a new perspective. Here you try determining the present and the future value of the digital currency by social, economic, and political variables. Fundamental analysis is suited for forecasting long-term movements; however, it requires a basic understanding of supply and demand.

Nonetheless, fundamental Bitcoin analysis in usually broken down into two different categories that include capital flow analysis and trade flow analysis. The digital currency is different from the other currencies that are vogue these days and issued by the governments and their central banking agencies. Therefore, you must be careful while doing all this exercise.

Generating Profits from the Bitcoin Analysis

Generally, in Bitcoin market the most important fundamental things to watch for are economic calendar. Similarly, you should also have access to the various central banks and the companies that are producing the digital currency. The political situations matter a lot for any currency pairs and so do they with Bitcoin.

Some portals providing the latest and updated reviews and news from around the world also guide you through with Bitcoin analysis. Nonetheless, the analysis is a sort of data that you can use while trading. The most important thing to keep in mind is that you actually follow the data! Look the economic calendar and don’t trade if there are some stats coming.

The experts believe that traders should know which indicator is rising / falling and is there any difference between the expected and actual results. Popular one is interest rates and inflation indicators. Other traders will watch those, so they have an impact to the prices. Also pay attention to any news during the day, this currency markets can move fast.

Read more the latest Bitcoin News and Analysis for advanced and profitable trading.

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Opt For Bitcoin Services With Magento E-commerce Development

Magento has gained its popularity as the most plausible e-commerce platform since its inception. It incorporates variant payment options facilitating the shoppers a secure pay. In case, the customers are not given the preference of their payment method, there is every chance for the businessmen to lose profit, and even the customer convert. Consumers today seek novel ways and seek for payment through digital currency which is fast, borderless, and free of cost when compared to visa and MasterCard. Traditional card networks require respective networks, gateways, etc., and each demands transaction fees, which is waived off with bitcoin.

It is necessary for the stores to embrace the evolving technology in order to reap benefits. Bitcoin integration services with Magento makes one achieve one percent or less transaction fee with zero risk of fraudulence. Bitcoin is a digital currency that could be used worldwide in seconds through a computer, smartphone or the memory stick. Adding ChainPay facilitates the customers to pay in bitcoin, and further it converts the bitcoins into local currency and accumulates directly into the admin’s bank account.

Bitcoin could be compared to the banknotes of any person’s wallet and it is a decentralized digital currency. It is transacted over the Internet through cryptographic principles and a lot of mathematics. It uses the industry standard encryption and verifies with the mechanism used to secure SSL and SSH.

A few of the benefits of bitcoin payment gateway integration are mentioned below.
Currency supports in Magento
Updates conversion rate
Configure the confirmation note
Bitcoin parameters are configurable
Http/Https access to bitcoin
Generate new address from anywhere

Henceforth, Bitcoin payment gateway with Magento is currently used by thousands of businessmen. Its flat rate plans demonstrate the savings potential that ranges from 30 to 3000 dollars/month. It provides direct checkout integration and seamless payment for customers. Further, if the businessmen feel that the expected number of people is small, one may post a sign or a note stating ‘we accept bitcoin’, creating an awareness about bitcoin and its benefits.

Though it has advantages, there occurs fluctuation in the coin’s worth due to which it could not be used as mainstream (like PayPal or the CC). Thus, it alone could not be made as the sole payment option. One may make it as a stand-alone service if he turns out to be a huge supporter and it is better to use as additional service.

The author is a writing professional. In addition, she is associated with a Magento company which incorporates Bitcoin development for their client’s website in India, and across the globe.

More about Bitcoin and Bitcoin trade

Ever heard of it? I hadn’t either till an astute reader talked about it in a remark recently. In researching this new forex, a digital one, I grew to become intrigued, then astounded. Initially I used the instance of the Borg from Star Trek, however more recently I’ve come to believe that one key to describing it is to start out from normal currency, and to then describe Bitcoin in relation to that, somewhat than trying to explain it as a standalone phenomenon. He said: Even for the police to find something, they want a workforce of 15 guys, two diggers, and all the personal protection tools.
Bitcoin is a consensus network that allows a new payment system and a very digital cash. It is the first decentralized peer-to-peer payment network that’s powered by its customers with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Web. Bitcoin can also be seen as the most distinguished triple entry bookkeeping system in existence. Bitcoin is cash, and cash has all the time been used both for legal and illegal purposes. Money, bank cards and current banking systems extensively surpass Bitcoin when it comes to their use to finance crime.
Presently the Bitcoin seems a great option because its growing its value, nonetheless can alter down the road. Another alternative would be to invest your cash on something productive similar to a businessland that will increase in value or put money into gold. Shopping for Bitcoins from individuals with Paypal is feasible, but requires the seller to have some trust that the buyer is not going to file a claim with PayPal to reverse the cost.
Inside four years of coming into existence, Bitcoin has change into the world’s most costly forex and its per unit value soared past $ 1,200 level or about Rs. sixty three,000 just lately, though the costs have now slipped below $ 750 a piece Rs. 45,000. After RBI and other central banks internationally warned financial intermediaries about coping with digital currencies via conventional channels, the buzz round such denationalised currencies, which are not backed by any assets, had diminished for a while.
The proof of labor scheme utilized by Bitcoin makes use of a special algorithm known as a ‘cryptographic hash perform’, which takes any quantity of knowledge as an input and creates an output of a regular size the ‘hash worth’. The operate is cryptographic as a result of the hash value produced is different for any change in the enter even of a single character, and it is nearly unattainable to know upfront what hash value shall be produced for a given input. This is called ‘mining’.

Sukenik does see a future within the digital currency. “Just as folks have belief in the physical qualities of gold, a lot of people are beginning to have belief in bitcoin’s mathematical qualities,” he said. Sukenik says the way wherein bitcoin could be transferred peer to see, and normally without charges, offers it a one-up on almost all other forms of forex. It is unlikely that Bitcoin would replace the dollar or different government-managed currencies.

Ways of playing Bitcoin on the Public Markets

Using Bitcoins has become very popular in the casino industry and even in trading. As the Bitcoin economy expands, so do the number of ways to gain exposure to the all-conquering currency. Casinos are now allowing the use of Bitcoins instead of cash. To play with Bitcoins in casinos, you have to trade them online. Bitcoin Casinos are in high demand these days because of the increase in popularity of Bitcoins. There are many ways to play with Bitcoins online in the public markets. Gambling with Bitcoins has also become popular because of the convenience provided by this online currency. You can easily use Bitcoin in the online environment and gamble for as long as you please.

Those of you who would like to use Bitcoins in the public markets should become familiar with h the BTX trader. This application is a product of WPCS International. BTX Trader is believed to be the first trading platform to allow users to carry out orders on five of the most popular Bitcoin exchanges. These exchanges include Mt. Gox, BTC, China and BitStamp. The application also allows users to place stop-loss orders on trades and to use various charting tools. Gambling with Bitcoins is easier than gambling with money and you shouldn’t have any hesitations when it comes to using this currency. Another way of playing Bitcoins online is to use SmartTrans, also known as ASX. This is a mining exploration company that has ventured into Bitcoin mining. The company signed its first Bitcoin mining contract in November 2013 and gave Bitcoin miners a chance to trade online.

Another way to use Bitcoins online is on Overstock. This is an online retailer company that announced its decision to start accepting Bitcoin payments. . This online platform made a lot of sales in the first twenty four hours of Bitcoin sale. A Bitcoin Casino would benefit heavily from such online sales. The manager of Overstock announced that they are happy with the results they received from the first sale and will continue to support the adoption of Bitcoins in their business. Gambling with Bitcoins will continue to be popular in the future because of the increased growth rate of the adoption and use of Bitcoins online in trade platforms and gambling sites.

You can also use Bitcoin in the Bitcoin Investment Trust. This market is not a publicly listed security. The target market of this investment trust is sophisticated investors. The Bitcoin Investment Trust has become very popular by raising a capital of more than a million dollars. A Bitcoin Casino can benefit from such a market because of its high returns. Zynga is another public market where you can play Bitcoins. It is easier to play and trade Bitcoins as compared to currency. This also applies to gambling.

A Bitcoin Casino will benefit from the increased popularity of Bitcoins. Gambling with Bitcoins is easier than with currency.

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