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Drug Enforcement Administration (DEA) agent Victor Vazquez on Wednesday shed light into how the operation to capture the notorious drug lord Joaquin “El Chapo” Guzman began.
There’s a good chance you’ve talked to a friend about Bitcoin. Or maybe heard about this “crazy digital currency” in the news, but haven’t tried to obtain any because you think it might be difficult. These days, acquiring cryptocurrency is actually very easy, with various avenues you can take to purchase your first coins.
The Most Straightforward Methods to Buy Cryptocurrencies
In the early days, acquiring bitcoins wasn’t so easy and people jumped through all kinds of hoops in order to get some. Nowadays, the crypto ecosystem is vast, with multiple exchanges and various digital assets sold for fiat currencies. People can purchase cryptocurrency using methods like credit and debit cards, cash, Paypal, money orders, and even basic barter arrangements. If you’ve been looking for ways to buy a cryptocurrency like bitcoin cash (BCH) – or any other digital asset – then this article is for you.
The Non-Custodial Wallet
The first thing you should do is study the digital currency you want to buy so you can understand what you are purchasing. After choosing a cryptocurrency to invest in, like BCH or ETH, you should get a noncustodial wallet so you can store the assets in a safe place. An ethereum (ETH) wallet will not work with BCH and vice versa. The reason for getting a noncustodial wallet prior to buying coins is because you probably don’t want to leave your assets with a central exchange. Storing cryptocurrencies on an exchange, unless you are trading them, leaves your coins vulnerable to the risk of theft.
Bitcoin.com has a dedicated list of wallets that you can review. There’s also the noncustodial Bitcoin.com Wallet, which allows users to store, send, and receive both bitcoin cash and bitcoin core (BTC). After obtaining a wallet on your mobile phone or desktop, you can choose how to purchase some digital currency. There are three primary ways of doing so — via an exchange, a cryptocurrency ATM, or a peer-to-peer service.
Exchanges are trading platforms that let you buy and sell cryptocurrencies for other digital assets or fiat. An exchange is a pretty quick way to obtain bitcoins as long as you are comfortable with the process. For instance, you will need a means of payment, because you are online and can’t use cash. Trading platforms allow customers to purchase cryptocurrencies in their local currency and you can usually pay using a credit card, Paypal, and bank wire depending on the exchange in question.
Exchanges will also require identification and will want to verify your identity in some fashion. The trading platform may require a picture ID or some proof of residence. Two things you will typically have to wait for before actually purchasing coins on an exchange is a verified identity and a validated payment system. Once those are in order, the platform will let you purchase cryptocurrencies and from there you can send them to your noncustodial wallet. Check out Bitcoin.com’s extensive list of cryptocurrency exchanges.
The Automated Teller Machine (ATM)
Yes, even cryptocurrencies use automated teller machines (ATMs) and you might be able to find one in your local area. At the moment there are more than 4,100 digital asset dispensing devices across the globe and more being installed every day. In order to locate a machine in your local area, Coinatmradar.com is a great resource. There are a ton of bitcoin core (BTC) ATMs (sometimes called BTMs) that sell the coin for a fee of between 6-10 percent per transaction.
There’s also a growing amount of bitcoin cash (BCH), dash (DASH), and ethereum (ETH) teller machines. Crypto ATMs are not like bank ATMs because instead of getting cash, you give the machine some paper bills and the device will send digital assets to your wallet, after you’ve given the ATM a valid public address. Some cryptocurrency ATMs don’t require identification, but there are some providers that do oblige the ATM user to supply picture ID.
The last method for acquiring cryptocurrency is in a peer-to-peer fashion. In other words, you can buy coins from a friend who already has digital currencies or you can opt to use a service like Openbazaar.org, Localbitcoincash.org, Bitquick, Paxful, or Localbitcoins.com. These services allow anyone to buy from a person selling coins either in person or online by using an escrow system to keep the trades fair. Each peer-to-peer marketplace operates a little differently and depending on the service you can pay for your digital currency with things like cash, Paypal, Moneygram, Vanilla, gift cards, or a cashiers check.
After conducting trade with a seller you, can receive coins in relatively little time, but it’s a good idea to research the platform you are using and make sure the vendor has a trustworthy reputation. Typically, these traders have conducted a lot of trades and most platforms, like Localbitcoins, have a reputation system.
Learning the Basic Steps and Getting Comfortable
Buying a digital currency is pretty straightforward, and after doing it once you’ll get an understanding of some of the concepts involved like sending and receiving coins. It’s a good idea to read up on how to send bitcoins from one wallet to another and the basic foundations of the digital currency you decide to buy. Lastly, one last thing to remember is that you don’t have to buy a whole coin when purchasing currencies like ETH, BCH, or BTC. People can buy a fraction of the digital currency they want and can even set up recurring purchases of very small amounts of crypto. After doing it a few times, you’ll quickly get the hang of buying and using digital assets.
Do you think purchasing cryptocurrencies is easy? How would you recommend people buy their first digital coins? Let us know what you think about this subject in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. This editorial is for informational purposes only.
Image credits: Shutterstock, Bitcoin.com, Openbazaar, and Localbitcoincash.org.
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The post Acquiring Crypto: Simple Steps to Buying Your First Bitcoin appeared first on Bitcoin News.
CBS said Sunday that its news division president, David Rhodes, is stepping down following a troubled year that saw morning anchor Charlie Rose and the top executive at 60 Minutes lose their jobs following misconduct reports. He is being replaced by veteran producer Susan Zirinsky. Zirinsky, who started work at…
Comments about immigrants that Tucker Carlson made on his Fox News show Thursday have just caused a major advertiser to give pause. The Hill reports that insurance company Pacific Life is, at least for “the coming weeks,” yanking its ads from Tucker Carlson Tonight as it “[reevaluates] our relationship with…
More than half of the members of Switzerland’s Crypto Valley Association (CVA) board have announced their decision to step down in January. The news comes after reports about governance issues and allegations of conflicts of interest in the leadership of the growing organization.
Four CVA Board Members to Step Down
In a joint statement sent to CVA members, the board’s president Oliver Bussmann and three other members – vice-president Vasiliy Suvorov, the board’s secretary and treasurer René Hüssler, and Nicolas Schobinger – announced they will not be standing for re-election next month, Swissinfo reported. All of them have been in the governing body since the establishment of the association in January of last year. The statement reads:
After a rewarding two years, we feel it is best that the Association’s next phase of development is led with a renewed perspective. Having that in mind, we have made a decision several weeks ago not to seek re-election for our seats in the upcoming board elections scheduled for January 2019.
The announcement comes amid concerns about the future direction of development of the crypto sector in Switzerland. According to Swissinfo, the main challenge is to find the right balance between promoting the potential social impact of crypto and blockchain technology and its commercial exploitation.
The CVA board will be reshuffled after it was recently expanded to seven members. In September, the association elected two female board members in order to diversify its male-dominated leadership. The decision came in response to accusations that it had become an “old boys’ club.” The two women, María Gomez and Jenna Zenk, are not stepping down.
Independent Governance Review Conducted
The now sole remaining male member of the current board, Soren Fog, raised questions about the governance of the association during the CVA General Assembly meeting in June. He warned about what he described as a “conflict of interest in the leadership”, calling for more accountability and an independent audit.
The CVA enlisted Hans Kuhn, a lawyer and former general counsel at the Swiss National Bank, to conduct a review of the association’s articles. He told Swissinfo they were no longer adequate. “This type of housekeeping is done in any kind of association with this growth and scope,” Kuhn commented.
According to the CVA board president, the independent governance review was proposed to address a need to adapt the structure of the association. CVA, which was established in January of 2017, has seen a rapid growth and now has over 1,200 members, Oliver Bussmann noted.
“The CVA has recently consulted the association members regarding the governance review report. We will present the result and proposed changes in the General Assembly at the end of January 2019,” the official added.
What do you think about the change of leadership in the CVA? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock, Smartmockups.
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The post Swiss Crypto Valley Association Leadership Steps Down After Governance Review appeared first on Bitcoin News.
The Camp Fire in northern California has killed at least 83 people, with the number rising daily, and has displaced tens of thousands of others. Hundreds are unaccounted for. It won’t be a normal Thanksgiving for any of those families, but businesses and hundreds of volunteers have stepped up to…
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CNN.com – RSS Channel – Regions – Americas
The nation’s leading e-cigarette maker is halting store sales of some flavors to deter use by kids, the AP reports. The move by Juul Labs Inc. comes ahead of an expected US government crackdown on underage sales of flavored e-cigarettes. Juul said it stopped filling store orders Tuesday for mango,…