Bitcoin is a decentralized digital currency that can be bought and sold without the involvement of any third parties. This makes it ideal for money laundering and other illegal activities, but it also can be a risky investment.

Bitcoin hogyan kezdjem? Buying Bitcoin can be done through crypto exchanges or money apps like PayPal and Venmo. While both options require some know-how, exchanges often offer lower fees and more options.

How to buy

Buying bitcoin is one of the most popular ways to invest in cryptocurrency. It can be a great way to diversify your portfolio and add a high-value asset that can increase in value over time.

It also allows you to buy in a convenient and secure manner. Depending on the exchange you use, you can choose to buy with a credit card or bank transfer.

Many major crypto exchanges and wallets offer the option to buy with a credit card. If you’re planning to buy regularly, this is a good option because it will save you a lot of hassle and money.

Where to buy

If you’re interested in buying Bitcoin, there are a few different places to do it. One option is a peer-to-peer exchange, like Bybit https://www.bybit.com/en-US/  or LocalBitcoins.

Another way to buy is through a centralized crypto exchange, such as Coinbase or Binance. Here, you place a market order that tells the exchange to buy BTC at the best available price.

The exchange may then fill your order with BTC at the best price it can find, or you may have to wait for a seller to contact you. Regardless of how you choose to buy, the process should be easy and secure. Before you begin, make sure to verify your identity and use a secure method of payment. Some reputable exchanges require you to submit personal information and enable 2-factor authentication (2FA).

How to store your coins

Unlike traditional money in a bank or investments made through a broker, cryptocurrency doesn’t have any built-in protections against theft. That means storing it safely is the responsibility of the person who owns it.

Luckily, the digital nature of crypto means there are several ways to store it securely and protect your investment. Cold (offline) storage is one option, while hot (online) wallets are another.

For cold storage, you should choose a hardware wallet that has been specially designed to protect your private keys. These devices keep your crypto offline, so it can’t be accessed by anyone other than you.

You’ll also need a backup of your private keys. The most common way to do this is to write down a seed phrase, which is a set of random words that will allow you to restore access to your wallet if it’s ever lost.

Tax implications

Cryptocurrency is considered a property by the IRS, and you can have to pay taxes on gains whenever you sell it or earn it as income. That’s similar to how owning stocks or exchange-traded funds can trigger capital gains taxes.

You should also keep track of your transactions, including purchases and sales. The IRS advises keeping receipts and confirming the fair market value of each transaction.

Donating cryptocurrency is treated like a donation of cash, and you don’t have to pay tax on the price gain when you donate it to a nonprofit organization. However, you do have to report the cost basis of your gift.

When you receive new coins or tokens due to a hard fork, these are treated exactly the same way as any other crypto asset from a tax perspective. When you later dispose of these coins or tokens, you’ll have to pay Capital Gains Tax on your cost basis – the fair market value of your coins or tokens on the day they were received.