Bitcoin is the undisputed heavy hitter of cryptocurrency and it’s no surprise that people are clamoring to purchase or invest in the currency. The good news is that you don’t need to know all the technical details to make a purchase of Bitcoin. However, it can be overwhelming the first time you buy Bitcoin in Los Angeles, so we wanted to offer some insight into the process.
First You Need a Bitcoin Wallet
Just like you require a wallet to store your cards and cash, you also need a wallet for Bitcoin and other cryptocurrencies. The wallet is used to send, receive and store your Bitcoin. Before you purchase Bitcoin, you should go ahead and set up a wallet for storage. This will make the entire process much easier. Many wallets are largely automated, so you can sign up and run with it without needing extra knowledge about Bitcoin.
How to Purchase Your Bitcoin
There are a few options when you want to buy Bitcoin in Los Angeles. If you wish to use your credit or debit card, you can sign up for an online cryptocurrency exchange. Be aware that some credit card companies and banks do not allow the purchase of Bitcoin using their services. It’s an excellent idea to determine what the case is before you attempt a purchase that may or may not go through. Some exchanges also allow you to link a bank account and pay directly out of that. If this is the case, the fees are often lower.
You can also buy Bitcoin with cash by visiting a cryptocurrency ATM in Los Angeles. This is often a convenient option for those who prefer to visit a physical location. It’s also an alternate route to purchase Bitcoin for those whose banks or cards do not allow it. While ATMs used to be few and far between, that is changing in recent years. There are several ATMs available in and near LA.
What to Do Next
Once you have the Bitcoin you want, you can take any path you would like. You can hold onto it until you want to sell or trade it. You could use it for purchases. You can also choose to donate it.
If you are looking for a place to buy bitcoin in Los Angeles, consider a RockItCoin Bitcoin ATM. You can learn more about the process by visiting us online.