Anyone interested in buying Bitcoin

Digital lifestyle

Many people have heard of Bitcoins as an alternative currency, but they rarely use it. And yet you can pay for more and more goods and services with bitcoins, and in times of the uncertain euro, you could also imagine bitcoins as an investment.

The best-known German platform for buying bitcoins is bitcoin.de, which works with Fidor Bank. You can see the current rate of the cryptocurrency on bitcoin.de, the trend is still increasing.

Register at Bitcoin.de

To buy bitcoins, open an account at bitcoin.de - this is done within a few minutes. You register with a user name, an email address and a password. bitcoin.de confirms the registration and sends you a login TAN. Then enter your personal data and have to verify your identity in order to gain access to the marketplace. The safest way to do this is with Post-Ident. This takes a few days and costs a few euros, but it ensures that nobody has access to your banking data.

On bitcoin.de you will also find an easy-to-understand tutorial on the registration procedure.

If you want to deal with Bitcoins in the long term, you should opt for an account at Fidor Bank that works much better with the platform than other bank accounts. A current account is free of charge at Fidor Bank. You can also manage this account online and save on fees when buying bitcoins. Important to know: Only your money that you have in an account at Fidor Bank is protected by the deposit protection fund at Fidor Bank, but not the bitcoins. In general, the verification process when opening an account is much easier and faster if you go through a Fidor account.

  1. Ethereum
    Another cryptocurrency based on the blockchain principle. Provides a platform for programmable smart contracts. The "ethers" are seen by fans as the legitimate successors of the Bitcoins (see also the picture above).
  2. Cryptlet
    Service developed by Microsoft for the Azure cloud, with the help of which users can enter external data into a blockchain without destroying its security and integrity. As individualized middleware, cryptlets can also be developed by Azure users themselves - in any programming language - and are intended to bridge the gap from the blockchain to new business services in the cloud.
  3. Cryptocurrency
    Digital money, without coins and bills. With the help of cryptography, a distributed, secure and decentralized payment system is built. Does not need banks, but computing power and technical aids such as the blockchain.
  4. Blockchain
    A blockchain is a decentralized database that keeps a constantly growing list of transaction data records. The database is expanded linearly in chronological order, comparable to a chain, to which new elements are constantly being added at the lower end (hence the term "blockchain"). When a block is complete, the next is created. Each block contains a checksum of the previous block.

    The technical model of the blockchain was developed in the context of the cryptocurrency Bitcoin - as a web-based, decentralized, public accounting system for all Bitcoin transactions that have ever been made.
  5. Bitcoin Core
    The open source software validates the entire blockchain and was approved at the beginning of 2009 by a certain " Satoshi Nakamoto " published under the name" Bitcoin ". Bitcoin Core was initially programmed in C ++ primarily for Windows systems. Porting to GNU / Linux followed a little later. Because the developers fell out, there are now some derivatives of Bitcoin software, including Bitcoin XT, Bitcoin Unlimited or Bitcoin Classic.
  6. BigchainDB
    The "scalable blockchain database" can manage up to a million write operations per second, store petabytes of data and still have a latency of less than a second - all of this managed in a decentralized manner and with the highest data integrity. The technical basis is blockchain technology.
  7. Distributed ledger
    Financial term for "distributed account management". Bitcoin is a completely new technical approach to distribute information about certain mappings. There is no longer a classic account that is managed centrally at a bank, but "account management" is based on a network of communicating systems.
  8. Smart contract
    A computer protocol that can map or check contracts or provide technical support for the negotiation of a contract. Could replace the written contract in the future.
  9. R3CEV
    The startup R3 CEV is building the blockchain-based "Global Fabric for Finance". The world's largest blockchain is to be developed with around 50 financial partners - a first test run with eleven major banks, including Barclays, Credit Suisse, HSBC, UBS and UniCredit, has already been successfully completed. R3CEV has entered into a strategic partnership with Microsoft to develop blockchain infrastructure and technology in the Azure cloud.
  10. Ripple
    An open source protocol for a payment network - currently still in development. P2P payment method and foreign exchange market in one, based on the crypto currency "XRP". However, Ripple users are not limited to this one currency, but can use any currency - for example euros, dollars or yen.

Buy bitcoins

You buy the cryptocurrency from other users on the marketplace at bitcoin.de. With every seller you can see how many Bitcoins they are offering and at what price. You can buy in any denomination. Check whether the seller is fully registered and verified at bitcoin.de. You shouldn't buy bitcoins from other providers.

You transfer the purchase price for the bitcoins to the seller's bank account. The data is displayed during the transaction, similar to Ebay. Make sure to write all the data for the purchase, including the ID, in the transfer. As soon as the money has been received by the seller, the bitcoins will be credited to your Bitcoin.de account. Buyer and seller each bear half the fees for the purchase.

Sell ​​bitcoins

As a seller, you have to deposit bitcoins into your user account at bitcoin.de. These bitcoins are blocked as credit and cannot be used for further sales - this prevents double sales and slows down fraudsters.

You can also transfer bitcoins to a vault. These bitcoins can then not be used to buy products. A provider of Bitcoin Vaults is, for example, Xapo. Xapo also offers a credit card - with which you can then pay with Bitcoins via a credit card - as well as suitable apps for iPhones and Android smartphones.

Use and manage bitcoins

You manage purchased bitcoins in a so-called wallet, a virtual purse. This is the same for all providers. If you have bought bitcoins on several portals, you can combine them all into one bitcoin wallet. Or you can use smartphone or desktop apps such as the "Bither" app, which is available for Windows, iPhone and Android.

You can find more wallets on the bitcoin.org website. As soon as you have decided on a wallet, you can quickly and easily transfer your Bitcoins to your new wallet and pay later with this wallet as well.

Websites like bitcoin.de

Of course, you can also buy bitcoins from other providers than bitcoin.de. However, most of the companies are not based in Germany. AnyCoin Direct is an alternative. The advantage lies in the quick and easy registration and the various payment options. You can buy your first bitcoins within an hour of registering - albeit somewhat limited: until the account is verified, you can only buy small amounts. You can work relatively quickly with Sofort-Überweisung and Giropay right from the start.

Another alternative is bit4coin. There you can also pay bitcoins with PayPal. (Macworld)