(UPDATE: – If you are going to purchase more than 125 USD of Bitcoins you will need a passport and may have to wait for 1 – 7 hours to process payment)
As inflation presses on in our country and tax increases to be expected, more of your wealth will be taken away from you. The purchasing of Bitcoin is one out of the many solutions that can be used to protect oneself from the theft of financial manipulation (taxes, inflation). Here is one way you can obtain them:
1) Get a debit card (much preferred unless you have financial discipline) /credit card that has at least 60 – 70 USD available (always good to have extra cash “in the event of”).
2) Download the Jaxx wallet for the platform(s) that work best for you
3) Backup your Jaxx wallet by selecting menu > Tools > Display Backup Phrase
4) Wait 10 seconds for it to generate your 12-word password backup.
5) Write down and save this 12-word password as this will allow you to link Jaxx wallets on different platforms (PC/mac/android/etc) and retrieve your bitcoins/digital currencies that you have lost if you deleted your wallet by accident (or on purpose if your computer of the phone was stolen).
6) Enter the 12-word password as proof that you remember it
7) Go to the home screen and copy your bitcoin address
8) Got to buy.bitcoin.com, paste your bitcoin address and enter 50 USD (or how much you can afford) of bitcoins you wish to purchase.
9) Fill in your details and go through the two-step verification process (email and text message)
10) Input your debit master card/ credit card information and verify the information given
11) Wait 45 mins – 1 hour and you will receive your bitcoins.
It is also wise if you set a four-digit pin security code on your wallet (Menu > Settings > Setup security pin). Please remember your 4-digit pin and 12-word password!
There are websites that sell bitcoin cheaper, in my experience however, it can be a bit more time consuming or your credit card provider may block the transaction. I will keep you posted on sites that sell bitcoins cheaper or have a faster delivery time for them. If you did perform the following actions successfully, you would have taken a small proactive step in protecting yourself from inflation.