7. Trading on Bitcoin Exchanges

Now that you’ve decided to enter the Bitcoin scene, you need to get yourself some Bitcoin. Although there are many ways to buy and sell Bitcoin, the most common is to use a Bitcoin exchange. What exactly is a Bitcoin exchange, how does it work, and where can you find a good one? That’s what we cover in this chapter.

By the way, if you’re interested in checking out the Bitcoin thing but scared off by prices in the $600/BTC range, keep cool. Bitcoin exchanges don’t make you purchase whole Bitcoins. You can purchase in much smaller increments, which lets you experiment by making only a tiny initial purchase.

How Bitcoin Exchanges Work

Put simply, a Bitcoin exchange is where people buy and sell Bitcoin. In operation, ...

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