There are so many Bitcoin exchanges and sources like BitPay, BitInstant, SatoshiDice, Butterfly Labs, Blockchain, Bitstamp, Coinabul, etc. you need to finalize on the one that is the most reliable. These are some leading names in the Bitcoin economy that have made their special place for their services to customers; however, it is your personal decision that should be dependent on your information and scrutiny.
Nonetheless, available for people who want to invest or trade in BTC, there are a few things you should know before you get started and want to buy Bitcoin. Additionally, transferring your money over to an exchange can be an arduous process at times; therefore, it will get easier in the future. However, for now, you need to select a Bitcoin exchange or brokerage firm that brings you Bitcoins without much hassle.
Bitcoin Exchanges and Bitcoin Brokerage Firms
Bitcoin may not be easily available as there are certain restrictions in the US and several other countries on the amount you can buy. Thus, if you are able to objectively evaluate a few things before deciding on one, it will be better for you. You may visit the websites that provide you easy process and user-friendly Bitcoin buying and selling. Here you can pay in your currency and buy Bitcoin.
You need to consider the liquidity that Bitcoin exchange has as Bitcoin is traded on a market where people are both looking to purchase or sell the currency, and it is important for you to know this. Additionally, it is liquidity that helps you understand about the genuineness of the Bitcoin exchange i.e. the more buyers and sellers there are the more liquidity that Bitcoin exchange has. Thus, look for a Bitcoin exchange that has a large number of customers.
For instance, you can also buy Bitcoin from Coinbase, a popular Bitcoin exchange that offers services for only US customers. Thus, if you are in the US, you can definitely benefit from this organization as it has several rich features e.g. it provides an easy process of Bitcoin buying which is quite important for first timers.
Originally posted on Oct 4, 2014 @ 2:59 am