How To Buy Bitcoin

As bitcoin continues to be adopted many people will have a lot of questions. One of the main questions is probably “How do I buy Bitcoin?”

Here is the quickest and likely one of the safest ways to buy bitcoin, 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 Cashapp for starting.
Companies like Robinhood, Coinbase and others sell Bitcoin (BTC) but also sell others like Bitcoin Cash (BCH), Bitcoin Satoshi Vision (BSV), Ethereum (ETH) and thousands of other cryptocurrencies. You want to buy Bitcoin (BTC) only. 

Now you can start learning about bitcoin. Luckily Cashapp 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. One of the best podcasts I have heard about Bitcoin is “The Saylor Series” By Robert Breedlove on the “What is Money Show”. 

Now, owning bitcoin and holding it on the Cashapp 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 a hot wallet to your phone like Muun Wallet, or GreenWallet (from the company Blockstream),  also from the google play store. You can then transfer your bitcoin from Cashapp to your hot wallet, if you want. You don’t have to do this. You can keep your money on Cashapp. It’s like keeping money at a bank. Using Muun wallet is like keeping cash in a safe at your home. I would suggest learning more about wallets before you transfer your bitcoin to a wallet. I also wouldn’t buy thousands and thousands of dollars in bitcoin until you understand it more. 

Continue to learn more about Bitcoin through various articles. Don’t buy more Bitcoin than you need. You only need as much as you’ll never sell. Bitcoin is not a thing to sell. Bitcoin is a thing to buy, regardless of price.
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!