Once you have an account, you can buy crypto with your own local currency using your payment method of choice. Alternatively, you can exchange one crypto for another, for example Bitcoin for Litecoin. It can take a short while for the funds to appear in your wallet, depending which cryptocurrency you are buying and the speed of processing transactions in the blockchain.
If you want to trade smaller cryptocurrencies (altcoins) you may need to find an exchange where they are traded against larger cryptocurrencies. The coinmarketcap website will allow you to identify where you can trade altcoins: a Google search will reveal other results.
The current price of Bitcoin at the time of writing is around $13000 USD, because it is a digital currency you don’t have to buy a full Bitcoin – you can buy just a small fraction – this is the same for most other digital currencies. Named after Satoshi Nakamoto, a one hundred millionth of a Bitcoin is known as a “Satoshi”.
As mentioned before, it is important to protect mobile database your coins. Keeping a balance at an exchange, while convenient, may expose you to unnecessary risks from malicious activity. Wherever possible, store your coins in the most secure manner.
Getting paid in crypto
If you want to accept Bitcoin for products and services online, the process is quite simple. You will need to use a payment processing provider and open a Bitcoin account with them.
There are three main providers: BitPay, Coinify and BitcoinPay – each offer different services and have different fee structures, before you sign up to one of the services you should familiarise yourself with their terms and make sure they meet your requirements.
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