Bitcoin is rapidly expanding in value, barely a day goes by right now without someone bringing up the subject of Bitcoin, and it is easy to understand why so many people are asking about the cryptocurrency.
The value of Bitcoin climbing faster and faster than anyone had anticipated, and the cryptocurrency has had a history of huge highs and deep lows, which has troubled traditional investors. While Bitcoin is so popular and, importantly, so valuable, there will always be people looking to get in on the ground floor and see what all the buzz is about. However, an upcoming Bitcoin features contrast will make it possible for investors to bet on the future price of the currency, solidifying the currency as a legitimate investment opportunity. Thankfully, that is fairly easy to do, and it can all be done from your phone.
Now is a great time to get on board the bitcoin train, as long as you’re not afraid of some risk. Here’s a step-by-step guide on how to buy Bitcoin from your smartphone, using the number one app, Coinbase.
Whether you are using an iPhone or an Android device, Coinbase is an app and service that will make it as easy as possible to get started with Bitcoin. Taking things to the next level? Coinbase should have what you need. Here is what you need to do right now.
First and foremost.
Step 1: Launch Safari or Chrome and sign up for Coinbase using the link here. Verify your identity. Admit that Bitcoin is supposed to be all private and such, but if you want an easy way in, this is the price you pay. And the process will differ depending on your country of origin, too.
Step 2: Download the Coinbase app from either the Google Play Store or the iOS App Store.
Step 3: Once all done, you will need to connect your bank account to Coinbase to verify. Again, the process will be different depending on where you live, but if you’d prefer to use a credit card or debit card, you can – just be aware the limits may be lower. This is the longest part of the process, which would take a couple of days for Coinbase to recognize the connection.
In no time, you’ll be up and running and ready to buy bitcoin from your phone.
Step 4: Buy your first Bitcoin. As mentioned, it may take awhile for your identify to be confirmed. Once that happened, going to the Coinbase home screen will show you the current price. Tapping the Buy button leads to entering the amount of Bitcoin you want to buy. Now just select the wallet you want the Bitcoins dumped into and away you go.
* Choose which wallet you’d like to deposit the Bitcoins into.
* Choose your payment method.
* Go through the authentication process to finish the transaction.
How To Sell Bitcoin On Your Phone
This is an optional step. Whether you feel the price has reached its limit, or like to cash out before a crash goes too low, eventually it will be time to sell. This procedure is as simple as the process to buy.
Step 1: Launch Coinbase on your phone, and tap the button that says Buy/Sell Bitcoin.
Step 2: Tap on Sell. If your app isn’t connected to your bank account, you’ll now be asked to complete the process in order to withdraw your cash, but once you tell the app how much you want to sell, you’re all done.
Enter the amount of Bitcoin you’d like to sell in your local currency, and then choose the bank account to which you’d like to withdraw the sale money. Authenticate just as you did with the buying process.
Just remember folks, Bitcoin can go down in value as well as up; there really is no such thing as a free lunch. As you can see, learning how to buy bitcoin from your phone is as easy as following a few simple steps. Whether you’re on iPhone or Android, the process is far similar, just down the app, and you’ll be trading Bitcoin in no time.