I’ve updated the beginners’ guide for buying bitcoins in 2017. What are your thoughts?


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In September 2016 I wrote up a guide for friends and family asking me how to buy bitcoins: https://howtobuybitcoin.io/ especially with a credit card, or PayPal, bank transfer, and cash (since this was what most people use). I got some good feedback, notably from the community here on reddit and bitcointalk. People also gave some good advice for future modifications. Here is what I've now added & updated:

  • added emphasis that you can also work for bitcoins (instead of buying them) on places like xbtfreelancer or subs like Jobs4Bitcoins
  • placed special attention on informing new users how to spot indicators showing that a bitcoin exchange is following security best practices
  • similar tips are included for spotting out an exchange that might be showing signs of compromise (past/potential) – my lessons learned from MtGox and Bitfinex
  • repeated warning that users should never store their coins on exchanges
  • with so many sites & services going full-KYC and account flagging/freezing happening more often, I have included a section explaining this for beginners.
  • extra tips for methods/services/places to buy bitcoin with no id verification
  • reminding newcomers that exchanges who do not interact, assist, and give back to the community are ultimately not worth using.

I would appreciate your thoughts on the improvements and updates. Is there anything I should add or take out?

From a beginner's perspective searching how to buy bitcoin, what do I need to explain further?

submitted by /u/cesmous
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