Congratulations and welcome to the world of bitcoin. You have chosen to be in full control of your money. the following are the major things you need to get started.
- Bitcoin Wallet
Bitcoin has no physical representation so it is held electronically using what is called bitcoin wallet. The bitcoin wallet is similar to a bank account, but there are differences so I will further explain in below using their differences
Bank Account Bitcoin Wallet local currency (Naira) Bitcoin Bank Wallet Provide Account Number(usually one)
Wallet Address (unlimited)
the bitcoin wallet is free and easy to create, what you basically need is your email address and phone number if you want to tighten your security to your account. also unlike the bank, the wallet provider does not have access to your bitcoin. it is solely controlled and can only be accessed by you.
Now go ahead and open a Bitcoin wallet using Luno or Coinbase
- Funding your wallet
Once you have created a bitcoin wallet, the next thing is to fund it with bitcoin. To credit your bitcoin wallet you have to employ the services of a bitcoin exchange. The good thing is that most bitcoin exchanges also provide you with bitcoin wallet. You can buy bitcoin with naira on other currencies through your debit card, bank transfer, cash etc. You can also sell your bitcoin that easily. examples of sites where you can safely buy bitcoins are Ngexchanger, Remitano, Luno, etc. You can also read my review on top 10 exchanges to buy and sell bitcoin. Once you have funded your wallet, you can leave it there and watch as the value continues to increase. I recommend you save your money in bitcoin because no other currency appreciates in value like bitcoin. However, dont save all your money in bitcoin because it is still volatile and might depreciate. If you want to multiply your bitcoin or make a liking of it. even as the value increases, then to go step 3 below to learn how.
- Start investing an earning bitcoin.
I have highlighted some investment opportunities in Bitcoin. Click here to view the opportunities.