1. Set up a bitcoin wallet. You need somewhere to store the private keys that allow you to spend or exchange bitcoin. Security is vital, so check how your money is protected – otherwise you could lose all of it. Otherwise, this is similar to opening an ordinary bank account.
Choose and sign up for your bitcoin wallet below.
2.Get your bitcoin address. Once you have signed up and accepted the user agreement you will get a bitcoin address, a unique identifier of 26-35 numbers and letters, beginning with the number 1 or 3, which is the destination for a bitcoin payment.
3.Buy bitcoin. You can make your purchase through your wallet or a range of brokers and platforms. These are digital rather than physical coins. Input your bitcoin address, the amount of money you want to convert, how you plan to pay, and so on. You typically have to pay a fee of between 0.2% and 1%, depending on the site, plus a small bank transfer fee.
Where to buy Bitcoins? Simply choose below, where you can trust and find cheap bitcoin deals.
4. Make a payment. Once you have bitcoin in your account you can start making payments. You will need the bitcoin address of the recipient.
5. Sell bitcoin. If you want to cash in your bitcoin, or bank a profit, selling is pretty straightforward. You can register to sell direct on sites through an online exchange or platforms such as Coinbase, Coinfloor, BitBargain or Bittylicious. Again, there are transaction fees up to about 1% of your trade.