Hey guys! Everyone has been hearing about Bitcoin lately and this guide is about how to easily buy your first Bitcoin safely, quickly and easily.
This guide isn’t about how great Bitcoin is (which I could talk about for hours) but just a practical quick guide on how to buy some.
Over the past year Bitcoin has increased in value over 1600% and if you had of put in $100 5 years ago it would be worth over $50 million today.
The important thing to remember is you don’t need to buy a whole Bitcoin, you just choose how much you want to spend and you will get the relevant fraction of a coin, for example when I first bought Bitcoin, I purchased 0.10 of a Bitcoin (a tenth of a coin) for $390 USD (now worth $1500 USD).
The good news is that it isn’t too late and there are prominent names in the space like John McCafee (the guy who started the antivirus software) who are predicting Bitcoin to go to $1 million per coin by 2020. There are only 16 million coins in existence and will only ever be 21 million. It’s currently sitting at a Market Cap (amount of money in it) of over $200 billion, with predictions from many experts it will at least double in the next year.
How to buy Bitcoin
To buy Bitcoin you need to sign up to an exchange so you are able to turn normal money in crypto currency like Bitcoin.
The biggest and safest one in the world is Coinbase which is the easiest and fastest exchange. It’s a company based in California that is listed on the US Stock Exchange, and it’s the first place I bought Bitcoin as well.
This guide will show you step by step how to buy Bitcoin using Coinbase in Australia. [Read more…]