Before one buys their first piece of cryptocurrency, some things need to be known. Here are five things all buyers need to know before they buy Bitcoin in Tucson, AZ.
Bitcoin Is Divisible
Most people assume they have to buy an entire Bitcoin, but that’s not the case. Bitcoin is a divisible currency meaning people can buy a fractional amount. First-time Bitcoin buyers that want to get their feet wet in the cryptocurrency market benefit from this divisibility.
Bitcoin Is Sold for Profit
Even if an ATM kiosk says there isn’t a transaction fee, buyers need to know better. Most cryptocurrency exchanges charge a 1%-2% fee to cover the spread, which is the difference of what they bought the Bitcoin for and what they sold it for.
Take Security Seriously
Bitcoin buyers must secure their passwords. While exchanges are highly secure, if someone would hack into a person’s digital wallet, there’s no way of getting that money back. Once Bitcoin has been removed from one’s account, it’s gone.
Storage Options
Cryptocurrency wallets are a great option for storing Bitcoin. They’re secure and offer varying degrees of protection. Buyers who want to store their cryptocurrency offline choose to use a hardware wallet. This option is ideal for serious buyers with thousands of dollars’ worth of Bitcoin they need to store.
Investing vs. Trading
Bitcoin traders don’t hold onto their currency for long. They sell to make a quick profit. Investing in Bitcoin means one is planning to hold onto it for a long time.
Want to buy Bitcoin in Tucson, AZ, from a kiosk? Check out RockItCoin Bitcoin ATM online to find a kiosk location.
