Since the last couple of years, virtual currencies like bitcoin are gaining popularity. It has many advantages over traditional currencies, including lower transaction fees and faster transfer times. One of the biggest advantages is that it can be used by anyone in any country with access to an Internet connection or mobile phone.
This means that you don’t need a credit card to make purchases online, which is especially useful for people who cannot use them due to their location or missing bank account information. If you want to buy bitcoins directly from another person without using an exchange, then what you need is the right place to find bitcoin traders, just like LocalBitcoins.
Bitcoin is a digital currency and a peer-to-peer payment system and is classified as a cryptocurrency.
Bitcoin was invented by developer Satoshi Nakamoto and it was released as open-source software in 2009.
First of all, we need to create an account on Coinbase (a US-based exchange).
We also need to verify our email address and make sure we link our phone number to the account for two-factor authentication.
So now that you have the steps to follow, we’ll need to add some funds from either your bank account or credit card. If you don’t have either one of these, that’s OK! We’ll be able to do it another way (like connecting your debit card and linking your checking account).
When you’ve added some money, we can start buying and selling bitcoins. Simply go to the “Buy/Sell Bitcoin” tab and choose your payment method and what amount of bitcoins (or fraction of a bitcoin) you would like to buy.
You’ll need to confirm the purchase details with two-factor authentication as well as all of the account information for validation.
Once those steps are complete, you’ll be able to see your pending order in your “My Wallet”. All that’s left is to wait for it to be filled! How simple was that? As easy as doing anything else on Coinbase.