Finance

4 Steps to Getting Bitcoin

Steps to getting bitcoin from bitcoindealers.com.au in Melbourne Australia
Image by MichaelWuensch via pixabay
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Are you looking forward to getting bitcoin? If yes, then you need to pay rapt attention to this amazing guide where we will show you the 4 steps you can take to buy bitcoin today.

Each day, bitcoin grows in popularity. So, we thought we would look at some of the ways you could get bitcoins to help you on your way to investing.

How to Buy Bitcoins

You may want to start by buying bitcoins directly from other people via online marketplaces. It’s the same way you’d buy a product or service online. Or, you can use a digital currency exchange or broker. If you happen to be in Australia, you can safely buy bitcoin at the Melbourne office of Bitcoin Dealers.

Your Bitcoin Wallet

You are going to need a wallet in which to store your digital currency, regardless of which exchange you choose to use. The wallet stores a private key, which is a secret 256-bit string number. The key provides access to your cryptocurrency. It also lets you move across the different marketplaces.

Just because you decide to get bitcoin on a certain cryptocurrency exchange does not mean you have to stick with it. The private key ensures you always have access to your wallet, no matter which marketplace you use.

There are several different kinds of wallets, including hardware and software wallets. The software wallets are really apps that connect with your regular bank account, and there is a number to choose from online.

Hardware wallets, however, store your private key on a safe and secure physical device that looks very similar to a memory stick. Many people consider hardware wallets to be more secure as you can literally disconnect from the internet.

Now It’s Time to Get Bitcoins

Once you’ve chosen your wallet and marketplace, you are ready to start getting your bitcoins.

1. Get Your Wallet

The first step is to create your wallet. The quickest and simplest way to do this is online. Go to the wallet provider’s site and enter your name, email address and a password.

2. Download the App

Once you’ve picked a software wallet, you will need to download the app. You can do this either through Google Play Store or the iStore, depending on whether your system is Android or iOS. There are also some wallets that are designed for desktops.

3. Head Over to the Exchange

Now that you have figured out how to buy cryptocurrency, visit the exchange of your choice and register with it. You will once again need to enter your password, name and email address. Many exchanges need you to connect with your bank account in order to pay for your bitcoins.

Some exchanges offer an app that actually acts like an exchange and a wallet in one. Via the app, you both trade and buy bitcoins and securely store them. But, do remember that you don’t have to use an exchange’s digital wallet if you prefer not to. There are plenty of options out there.

4. Buy Your Bitcoin

Finally, head over to the “buy” section on the exchange and select the amount of cryptocurrency you want to buy. Since the price of bitcoin is rather exorbitant, most exchanges allow you to buy less than one bitcoin. In fact, the crypto can be divided into no less than 8 decimal points, so you can buy enough to suit your budget.

That’s all there is to it!

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Emenike Emmanuel
I am a multiple Award-winning blogger, CEO of Entrepreneur Business Blog, Chief Evangelist of Ebusinessroom Ventures, Lead Coach of The Excellent Entrepreneurs' Network (TEEN) and Convenor of #NaijaSitUp. My business is to help you start, manage and grow a profitable and sustainable business using digital marketing strategies. I have been featured and mentioned on platforms like, BloggingTips, StarterStory, StatusBrew, Realty Times, Emerald TV, SmartBCamp, Blogging from Paradise, Write Worldwide, Enterprise Boom, Atang Magazine, etc. In 2019, my blog won the Best Digital Media Award from AB Afrikpreneur. When you want to hire a professional to handle your online marketing, I'm your go-to-expert you can speak to. In 2019, I won the Blogger of the Year from the Global Excellence in Marketing Awards, USA and my brainchild, EBB won the Best Digital Media Award at the AB Afrikpreneur Awards. You can connect with me on Facebook, Twitter, Instagram, Pinterest and LinkedIn with this handle, @EmenikeNg

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5 Comments

  1. Hi Emenike,

    Good post with very good information. I must admit I didn’t knew much about Bitcoins till I landed on your page.

    Thanks for sharing this post. Have a good day. 🙂

  2. now time is bitcoin nice info sir thank you so much for sharing this article

  3. Hi, thank you for sharing such a nice and informative post! keep up the good work.

  4. Hii
    Mr. Emenike Emmanuel
    Thanks for providing us this information, Now I will definitely invest in bitcoin by your suggested methods !

  5. Bitcoin is the future of the online market and its going to boom the market soon.

    Well thanks for sharing this intro to bitcoin.

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