You can purchase bitcoins from either exchange or other individuals through marketplaces.
You can pay for them in various ways, going from cash to credit and debit cards to wire exchanges, or even with different cryptographic forms of money, depending on the person you are buying them from and the where you live.
How To Buy Bitcoin Online?
The fastest and easiest way to buy bitcoin online is buying it through credit or debit card. SpectroCoin is one of the renowned names that provide this feature. Through SpectroCoin, you can buy worth of $50 bitcoins jut within 10 minutes. And as you proved to be a reliable customer, the limit is raised to $200 and then $500 within a few days.
Paxful and Cryponit are two of the best platforms to buy Bitcoin with PayPal. The process of buying Bitcoin with Paypal through Paxful and Cryptonit is almost similar to buying from LocalBitcoins. LocalBitcoins is a platform for purchasing/selling bitcoins with the lowest exchange rates and reliable users.
The sellers have to pay a 1% commission fees to the platform that facilitates this exchange.
Like other P2P platforms, it follows a set of sales rules as well but, if you have a good user reputation, these requirements are lower.
Before you purchase anything, it’s better to make sure that the user has good reviews from other buyers.
The process of buying Paxful bitcoins is simple:
Create an account
Choose your amount and a payment method
Select your seller- You can choose one yourself or let Paxfuldecide the best one for you.
Next, you’ll be sent to an online chat room with the seller to finalize your deal. The seller’s bitcoins are sent to Escrow and soon after you mark that the payment has been made, the bitcoins are released into your account. However, you must seal the deal within the time limit given or it is auto-canceled.
Buy Bitcoins With PayPal Through Cryptonit:
Cryptonit is another platform that enables you to buy Bitcoin with PayPal instantly. Cryptonit is a UK-based company and was founded in 2012. It is a cryptocurrency exchange that allows you to deposit money using PayPal, Visa/MasterCard, Skrill Western Union, MoneyGram, and many other options.
Bitcoin’s back at it again with a major boost crossing $4,000.
Image credits: Bitcoin.com
It’s really become a routine for bitcoin owners to wake up to a different price almost every day.
The price of bitcoin has been a bit stationery ever since China regulators announced a ban on ICOs and shut down of BTCChina by October. It tumbled down to $3,700 from $4,000 and remained in that range for the past two weeks.
But, now with the price coming around $4,050 and rising, it’s not too early to say that Bitcoin is back in the game. There hasn’t been an instance where bitcoin has failed to make a come-back and this was definitely one of those times.
So, what’s prompted this latest rally? It’s possible that the speculation of China’s exchange shut down is just temporary, especially since it was never formally announced. But regardless, this just proves that Bitcoin can survive without China and is resistant to the activities of a country.
Next stop, $5,000?
The bitcoin rally we experienced on Wednesday has assured several Bitcoin analysts and traders that if the current upward descent is maintained, we might see a $5,000 hit soon.
A well-known bitcoin trader and investor, Tuur Demeester, also distinguished that if the trading volume in Japan, South Korea, Europe and the US sustains, we could be in for another strong rally in the near future.
It is a fact that with the passage of time the uses of blockchain technology have witnessed a tremendous increase. China is on the top of the list in this regard. Main reason behind it being that China is the hub of tech startups. Due to so much importance of China several companies have been trying to launch setups for their upcoming blockchain technology chains in China. Recently JD.com announced plans to launch its accelerator program for artificial intelligence and blockchain startups in Beijing this February. And now the launch of a Chinese Blockchain Industrial Park is in the news. This project will be backed by a 10 bln yuan fund which will be partially backed by the Government.It is also being reported that well-known Bitcoin (BTC) investor Li Xiaolai and Blockchain “celebrity” Lao Mao, will be two of the managers of the fund.
According to latest blockchain news the above mentioned fund was announced on April 9, during the opening of the Hangzhou Blockchain Industrial Park China. This fund is named as Xiongan Global Blockchain Innovation Fund financed by the Yuhang District Government. Thirty percent of these funds would be government-guided. The fund will be managed by the Hangzhou Haoyu Investment Management Co. and the Future Science & Technology City Administrative Committee. Hangzhou city in Zhejiang province, home to e-commerce giant Alibaba. This industrial park will also serve as an incubation center for the startups.
History of Hangzhou Haoyu Investment Management
Hangzhou Haoyu Investment Management is mainly comprised of two big names, the Handan Investment and INBlockchain. The previous projects of these two companies included:
The fund’s announcement and the opening of the blockchain industrial park has played vital role in further establishing the position of Hangzhou. The government in Hangzhou has already portrayed the blockchain technology as the most advanced innovation. Even it has been ranked just behind artificial intelligence and virtual reality in most cases.
The announcement of that fund has hit the news just weeks after the plans for an international Chinese Blockchain Center were cancelled over legal technicalities. Despite a wave of enthusiasm, all those companies must deal with the regulatory uncertainty in China with respect to blockchain technology and crypto industry. No doubt these restrictions a part of the Chinese Government strategy to control capital outflow and corruption. This is the sole reason behind China’s strict actions against cryptocurrencies and initial coin offerings.
One of the concerns every Bitcoin user has is how to keep their bitcoins safe from criminals. Well, the answer to that is to store them in a paper wallet, completely away from the internet in an offline environment.
If you do it right, you’ve just initiated one of the safest ways to store your bitcoin. Although, if you mess up in between, it’s still more secure than storing coins in any Bitcoin exchange platform.
Creating a Simple PapeWallet
Start off with a desktop that is clear from all virus.
If you’re having doubts about this, install a copy of the OS on a USB. This is just for safety purposes, you don’t have to do this step. Although, make sure your computer is completely free from all sorts of malicious and nasty viruses. We don’t want your operating system wiping out on you.
Use incognito mode on your browser, and go on to a bitcoin paper wallet creation site
The most well-known paper wallet creation site is said to be bitadress.org, so use your incognito mode to log on to the site.
Turn off your internet connection once bitaddress.org loads
After the site has loaded, turn off your Wi-Fi or unplug your ethernet cable. This will completely remove any leads for your private keys to leak through the internet without your knowledge.
Don’t worry, bitaddress.org was programmed to function perfectly fine even without an internet connection.
Follow the instructions given to the side and move your cursor randomly across the screen
This is the fun part. You’re required to randomly move your cursor around the screen to generate a seed that will be used by BitAddress to generate your personal wallet.
You have now created two QR codes with a combination of random letters and numbers
Congratulations! You’ve officially created your first paper wallet.
The two QR codes are:
Bitcoin Address- It will be a long string of letters and numbers jumbled together. This is what you’re going to be sharing with others in order to send and receive Bitcoins.
Private Key- This too is a lengthy combination of alphanumeric, but you’re supposed to keep this secret. You CANNOT share your private key with anyone nor can you store it on a computer and, definitely not on the web.
Remember this. If you lose your key, your bitcoins are lost forever and if someone else gets a hold of your private key, they can easily empty your wallet.
Keep your paper wallet safe
The next step is having an offline copy of your Bitcoin Address. While you’re still disconnected from the internet, print the address (make sure your printer is not connected through wi-fi either). Now you have created a hard copy of your Bitcoin address, which you can later add Bitcoin to for a final cold storage solution.
Always keep a backup of your wallet in another location and make sure it is completely secure. If someone gets their hands on it, you’ve lost everything.
Adding funds to your cold storage wallet
You need to use your online wallet for this. Scan the bitcoin address on the paper wallet or just copy it, then send your fund to your cold storage.
Make sure to store your wallet someplace away from moisture, because you don’t want it getting damaged. Try storing it in a Ziploc bag or laminate it, in order to avoid it from coming in contact with any liquid.
Use an Operating System that never goes online, to prevent your PC from leaking out your private keys. Print your wallet offline and never go online from that computer in the future.
You can store large sums of bitcoins in your cold storage rather than carrying it with you in an online wallet. Keep small amounts of bitcoin in your online wallet for daily transactions and the rest offline, in a secure spot.