I have tried bringing up bitcoin to quite a few people over the last year (2022) and haven’t had much interest. I have finally realized that 99.9% of people won’t have any interest in Bitcoin until the price starts going up dramatically, perhaps around $100k people will start being interested again. I have decided that is fine. I am going to write this for people whenever they start becoming interested and wonder “How do I buy bitcoin?”
If you have recently seen Bitcoins price rise from $30,000 to $100,000 or more and are now having FOMO (fear of missing out) and you need to buy bitcoin NOW! Here is what you should do.
Go to the google play store (or apple store) on your phone and download “Cash App”.
Link your bank account.
Click “Buy bitcoin”.
Boom, you now own some bitcoin!
I recommend Cash App because they are a Bitcoin only company. There are many copies of Bitcoin like Bitcoin Cash (BCH), Bitcoin Satoshi Vision (BSV) and many others. Don’t be fooled. Only buy Bitcoin (BTC ticker symbol). Since Cash App only sells Bitcoin (BTC) this is not a problem. That is why I recommend Cash App for starting.
Now you can start learning about bitcoin. Luckily Cashapp also has news articles about bitcoin linked in it’s app so you can read there.
You can also follow Michael Saylor on Twitter. He has a lot of great information about bitcoin.
Now, owning bitcoin and holding it on the Cash App app isn’t the safest way to hold bitcoin. While Cashapp is relatively safe, there is still risk that Cashapp goes under.
An option now is to download Muun Wallet, also from the google play store. You can then transfer your bitcoin from Cashapp to Muun, if you want. You don’t have to do this. You can keep your money on Cash App. It’s like keeping money at a bank. Using Muun wallet is like keeping cash in a safe at your home.
Continue to learn more about Bitcoin through various articles.
Don’t panic sell your Bitcoin if the price goes down from $100k to $50k or even $30k again! This is the nature of bitcoin, it is volatile.
Don’t FOMO into thousands and thousands of dollars of Bitcoin unless you are ready to temporarily lose 50% or more.
Don’t invest any more into Bitcoin than you are willing to lose. While I think it will be fine, it’s always possible something wild could happen and it could go to $0 (I doubt this but keeping all possibilities open).
Welcome to Bitcoin!
Oh, and you can always contact me with Bitcoin questions!