Is Bitcoin the most exciting place to put your money – but don’t do it before you read this

Ready to invest in Bitcoin?

It’s one of the most exciting places to put your money, and the charts show it on a stratospheric rise in value. But you can’t get started with Bitcoin investment until you know exactly how to buy Bitcoin. In this article, you’ll learn exactly how to get started.

We’ll cover the method you’ll need for getting Bitcoins, the truth behind the Bitcoin exchanges you’ve heard about, and the best way to get Bitcoin for a fraction of their value. You’ll also learn how to store your Bitcoins, since there isn’t a “Bitcoin bank” so to speak where you can keep your money.

Let’s dive in!

How Bitcoin exchanges work

Considering how Bitcoin is a currency, you might think that you can trade it through a typical currency exchange.

While Bitcoin does have an exchange symbol, BTC, the reality is a little bit more complicated.

You actually can’t trade the currency through a normal exchange like you would for euros, pesos, or yen.

Instead, you’ll need to go through a Bitcoin-only exchange. A number of these exist, and they allow you to buy Bitcoins for the going market rate.

This works just like a currency exchanger would if you needed euros for a trip to Italy.

One question that people often have regarding buying Bitcoins is how to afford them when they’re so expensive. If a Bitcoin costs thousands of dollars, how can you afford one?

The answer is simple. Instead of buying an entire Bitcoin, you’ll buy a fraction of it. Bitcoins are divided into decimals all the way down to one one-hundred-millionths.

(This 0.00000001 BTC is known as a Satoshi, named after the creator of the Bitcoin technology.)

The truth about Bitcoin exchanges

When it comes to choosing an exchange for your Bitcoins, you need to be careful.

Just like you should do research on a bank where you keep your money, the exchange you choose should have the security and reliability you expect for your finances.

It may surprise you to learn my recommendations. It’s probably different than what you’ve read elsewhere, but if you choose the wrong exchange you’ll end up regretting it.

Perhaps the biggest exchange you’ll find in your research is Coinbase. This is where most people buy and sell their Bitcoins.