This easy-to-understand guide will walk you through on how to get started with bitcoin.
Step 1: Get Yourself the Basic Information About Bitcoin and Cryptocurrency. This step basically tells you to do a simple research about bitcoin, thus start typing the keywords: what is bitcoin, how bitcoin trading works, or bitcoin in the Philippines in Google, Bing, or Yahoo. You can also watch bitcoin videos for beginners.
Step 2: Clarificatory Questions. Now that you have the basic understanding about the bitcoin, it is indubitable that you have so many questions running through your mind. List down these questions and try asking around – whether from a reliable friend, or online sources such as blogs and forums. Make sure you only pick the information you need; do not indulge in too many details to avoid confusion. Also, do not go much into the complexities and technicalities of bitcoin. Yet.
It is advised that you do not proceed directly into asking around without first having the basic understanding, especially from Facebook Groups, about bitcoin. Most guys will either sell you something, possibly through a referral link or will confuse you, if not give you irrelevant details. Be wise if you want to succeed.
Step 3: Bitcoin Exchanges Platform-Hopping. This step tells you to look for the right platform that will not only suit your preferences but also determine whether you are using a legitimate and secured bitcoin exchanges website. Bitcoin platform refers to websites such as coins.ph, buybitcoin.ph, rebit.ph among others.
Step 4: Sign Up Process. It is suggested to sign up for all the platforms available in the Philippines in order to check the basic features of each and every system. In doing so, consider the following: (a) Sign up and do email validation or whatever is required by the bitcoin platform; (b) Examine the features, especially the security function of the system; (c) If the platform takes some time to load, do not continue trading therein because it is a sign of poor security and you may end up your money and time both wasted; and (d) Make sure it is a user-friendly system, that is easy to navigate, no complicated names of menus, and understandable to man of common knowledge.
Step 5: Decision Making Process. After checking and testing procedures you’ve made with the bitcoin platforms you’ve signed up to, decide to use only one of these platforms. Remember, you are a beginner in this venture; it is wise to try the atmosphere first. Do not throw all the seeds you have and expect that each and every one of it will grow like a healthy sunflower. In other words, do not make big investments without first testing how bitcoin and cryptocurrency work. Caveat, use only the bitcoin exchanges website that is registered in Bangko Sentral ng Pilipinas.
If you have decided to continue in investing to bitcoin in the Philippines, read the next guide on how to invest in bitcoin which will give you wise and concise ‘how to’.