5 Steps to Safely Buying Bitcoin – Motley Fool

5 Steps to Safely Buying Bitcoin – Motley Fool

If you’re ready to buy your first Bitcoin, make sure you do it safely.

Ready to buy your first Bitcoin? You might be buying because you believe in its original ideology or think it’s a solid investment. Or perhaps you want to put some Bitcoin aside for your children. Whatever your reason, it’s important to keep your investment safe.

What is Bitcoin? And what are the risks?

Bitcoin is a digital currency that was launched in 2009. It’s stored using something called blockchain technology — essentially a chain of decentralized data blocks. There are now thousands of cryptocurrencies, but Bitcoin was the first and remains the largest.

If you want to buy Bitcoin safely, you’ll need to consider the risks.

Cryptocurrency is extremely volatile. This year alone, Bitcoin has gained over 200% but has seen its fair share of crashes. And even though a reputable exchange or brokerage can help protect your investment, you’re still going to want to pay attention to how you can safely buy and store your Bitcoin.

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