Understanding Bitcoin – 4 Videos

Buy Bitcoin Instantly,

After gaining an understanding of bitcoin.

The following videos may be helpful in learning to buy bitcoin instantly, what bitcoin is, and how bitcoin works.

If you are looking to buy your first digital currency, have a look at Coinbase using this link. Buy $100 of digital currency or more, we will both get $10 of free bitcoin. $10 of free bitcoin in the future could be worth a lot more than $10 today.

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What is the difference between Bitcoin and Litecoin?

What is the difference between Bitcoin and Litecoin?

giphy-downsized-bitcoinWhile bitcoin and litecoin are both forms of cryptocurrency, they are not the same. Some say bitcoin is like “gold” and litecoin is more like “silver”. Other difference between bitcoin and litecoin include:

  • Bitcoin is currently more accepted as a form of payment over litecoin given many more merchants accept bitcoin
  • Litecoin is very similar to bitcoin, but some feel litecoin has a technically superior algorithm

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  • Another difference is how each are mined. Learn more here.
  • The value of bitcoin and litecoin currently differ greatly. With litecoin’s price currently much lower than bitcoin it is much easier for most first time investors to purchase litecoin rather than bitcoin. To learn more about making your first digital currency investment, see Buying My First Cryptocurrency or Where to Buy Cryptocurrency.

Know of other reasons why how the two forms of digital currency differ? Comment below.

Litecoin Price

Current Litecoin Price – Litecoin to USD

litecoin price

How to buy Litecoin

You can buy Litecoin after quickly setting up an account with an exchange. Popular exchanges include: xCoinsCoinbase, cex.io, or LocalBitcoins. Click on the exchanges mentioned and see which one might be best for you. Each allow you to buy Litecoin and other forms of digital currency.

To learn more about each exchange, read our post on Buying My First Cryptocurrency.

Can I buy Litecoin with a debit card?

Yes, you can buy Litecoin with a debit card. Other forms of payment often include credit card and bank transfer. Some even allow buying Bitcoin with Paypal. Acceptable payment types depend on the exchange.

To learn more about buying Litecoin, read our post on How to Buy Bitcoin Instantly.

What is Litecoin?

To understand Litecoin, we recommend the following book: Litecoin: An Introduction to Litcoin Cryptocurrency and Litecoin Mining – A Beginner’s Guide by Jeff Reed – August 2017

Reed’s book about Litecoin discusses:

  • Benefits and risks involved with Litecoin
  • Litecoin Wallets (for more about wallets, see What Bitcoin Wallet Should I Use?
  • Buying Litecoin
  • Litecoin Mining
  • Mining Litecoin
  • Tips for Investing in Litecoin

The price of LiteCoin changes often. Check back to see the current price.

litecoin price

What Bitcoin Wallet Should I Use?

Depending where and how you buy your cryptocurrencies like Bitcoin or Litecoin, you have different options for a Bitcoin wallet.

One option is to leave them on the exchange where you purchased them. Some feel this is very safe while others feel there are safer ways. For example, purchasing a coin wallet.

What is a Coin Wallet?

A cryptocurrency wallet is a secure digital wallet used to store, send, and receive digital currency like Bitcoin. Think of a thumb drive that holds your coins instead of files.

What Bitcoin Wallet Should I use?

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How to Buy Bitcoin Instantly

Here are ways to buy bitcoin instantly:

how to buy bitcoin instantlyCoinbase allows you to create an account and buy bitcoin instantly with a credit card, debit card or bank transfer. When you set up your account with Coinbase, you will need to provide some personal information but I have found this site to safe and secure. Use our affiliate link to receive $10.00 after you buy at least $100 of digital currency.

xCoinsBitcoins for everyone. xCoins allows you to purchase Bitcoin very quickly, it takes just a few minutes to get started. With xCoins you give money to a lender and the lender provides Bitcoins to your xCoins wallet. You can also obtain Bitcoins with a credit card, eCheck, bank account (ACH), and PayPal.

crypto wallet

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Buying My First Cryptocurrency

For some, getting started buying your first cryptocurrency is exciting, while for others it may be confusing. Here is a list of safe options to help you get started buying your first cryptocurrency:

Coinbase – Located in the US. One of the most popular ways to buy cryptocurrency.

Payments Accepted: Credit Card, Debit Card, or bank transfer.

Cryptocurrency Options: Coinbase allows you to buy and sell Bitcoin, Ethereum, and Litecoin.

Bonus: $10 free after you buy $100 of digital currency. Continue reading