How To Buy Bitcoin
In Person with Cash, Debit, Credit Card or Wire.
If you want to learn how to buy Bitcoin, Coin Nerds is the place for you. You can buy Bitcoin by registering with us online or come visit Coin Nerds in person. Below is some insight into what Bitcoin is, and how you can safely purchase and store your Bitcoin.
What Is Bitcoin?
Bitcoin is the original cryptocurrency, the granddaddy that started it all, created by Satoshi Nakamoto in 2008. Bitcoin is not owned by a government or bank, and it can not be counterfeited or destroyed. It is a means of exchanging value from peer-to-peer, and the entire system lives on a decentralized public ledger secured by a network of computers that anyone can join, called blockchain.
The blockchain allows for the validation and storage of all transaction data on a public ledger that cannot be hacked while at the same time providing a level of anonymity.
Transactions between addresses are confirmed by computers securing the blockchain that solve complex math problems to validate transactions. These participants are called miners.
Bitcoin Exists Free of Inflation
Only 21 million bitcoins will ever enter circulation. That number is permanently programmed into the network, meaning Bitcoin is free of inflation, unlike traditional government-backed money, whose value can be manipulated.
How Do I Store My Bitcoin?
Storing Bitcoin is so safe and convenient. It is literally at the tip of your fingertips.
Essentially you will need a digital wallet that has a bitcoin address and a private key associated with it.
There are several different ways that you can store Bitcoin, including: a paper wallet, an app or online wallet connected to a cryptocurrency exchange, or a hardware wallet (resembles a USB), like Trezor or Ledger Nano S.
How to Store Bitcoin On Hardware Wallet
You can keep your Bitcoin safe and secure by keeping it on a hardware wallet which is a physical USB key like a Trezor or Ledger Nano S. You can protect your Bitcoin using a 12 or 24-word password that acts as your private key, and also have a separate PIN for the device itself.
How To Store Bitcoin on a Paper Wallet
You can also use a paper wallet that is one single key printed on a piece of paper. A paper wallet usually contains a QR code you can scan using the camera on a mobile device that will take you straight to your wallet. It also contains your 12 or 24-word passphrase that protects your private key.
A paper wallet is great for storing Bitcoin offline. Just be sure not to lose the piece of paper.
How To Store Bitcoin on an Crypto Exchange or App
Another option you have is to keep your Bitcoin on an exchange or a mobile app.
Whichever option you choose, remember to keep any PIN numbers, passwords and 12 or 24-word seed phrases private and secure. Storing Bitcoin on a website or mobile app is very convenient.
Just remember there is always a risk involved with storing Bitcoin or any other cryptocurrency on a wallet that is connected to the internet or a server at all times.
How to Buy Bitcoin at Coin Nerds
Coin Nerds is capable and ready to guide you through your first Bitcoin purchase.
Registering as a Coin Nerds customer is free and can be done online or in person. decide how much Bitcoin you’d like to purchase and confirm your desired payment method.
After your Bitcoin has been purchased you can go to a blockchain explorer and see your very first transaction confirmed on the blockchain!
Coin Nerds Is Your One-Stop Crypto Shop
Coin Nerds is located at 848 Burnhamthorpe Road West Unit #3A. Our staff would be glad to help you buy Bitcoin, whether you’re an experienced crypto enthusiast or buying Bitcoin for the very first time.
Now you know the basics of how to buy Bitcoin. The next step is to sign up now as a customer online or come in and see us. We’re open from Monday to Friday at 10am-6pm and Saturdays from 10am-4pm.
We’re happy to serve you.