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I am curious about buying some Bitcoins but I have no idea what it involves. What do I need to do in order to buy some Bitcoins?
Hi there,
In order to purchase Bitcoins, you need to have a Bitcoin wallet. Both software and hardware based wallets exists, and some software wallets are available free of charge. Hardware wallets are widely considered to be more secure. Web-based wallets are also available.
A Bitcoin wallet is secured by a private key, and all data is encrypted to prevent third-parties from accessing your Bitcoins.
Once you have set up a Bitcoin wallet, you can purchase Bitcoins and add them to your wallet. In Switzerland, Bitcoins can be purchased via smartphone at any SBB / CFF ticket vending machine. You can also purchase Bitcoins at Bitcoin ATMs such as those operated by Bitcoin Suisse.
While ATM purchases are relatively simple and convenient, purchasing Bitcoins online from brokers often works out cheaper.
You can also buy Bitcoins directly from a trusted seller. A number of online marketplaces and forums help you connect with people who are selling bitcoin. Buying directly from a seller cuts out the brokerage commissions and poor exchange spreads.
Best regards from Moneyguru
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