Bitcoin is a paradigm shift that's changing the way we perceive money. It allows individuals to have full control over their finances without needing to go through a bank. Many investors are starting to use bitcoin as a long term store of value and hedge against financial uncertainty.
If you're new to Bitcoin and feel overwhelmed with all the information then here are three easy steps to get you started.
Step #1: Secure your Private Keys
Your public key is like your email address, you share it to receive coins and your private key is like a password that allows you to send coins. If you lose your private keys or if someone steals them your coins will be lost forever. This is why it's important to keep them safe.
You have two options to keep your keys safe; invest time to learn how to secure your computer properly or invest a bit of money on a hardware wall to make it easy. Trezor is an easy to use hardware wallet that will keep your keys isolated from any viruses.
Step #2: Buy Coins
You can purchase coins by sending money from your bank to the exchange. If you don't want to use a bank then you can also meet up locally with someone to buy them directly with cash. Direct peer-to-peer purchases usually charge a 5-10% premium over the spot markets.
Step #3: Transfer the Coins Over to your Wallet
Once the bitcoins are in your possession you can use them for all kinds of things such as storing value, sending cheap payments, tipping, electronic cash, making purchases and trading. Bitcoin is a really efficient form of money that can be accessed 24/7 without spending limits or restrictions.