bit coin mining-simple steps to buy and sell bit coins.

In this article I am going to discuss some really simple steps to follow bit coin mining while you are buying bit coins. First of all you need to find an e wallet which is basically a store or a provider that offers software from where bit coins can be bought, stored and traded. You can very easily run it on your desk top, laptop and even your smart phones.

After that you have to sign up with an e wallet and you will make an account that will let you store your bit coins. The e wallet trader then will offer you a chance to covert your local currency into bit coin. There fore the more local currency you have the more bit coins you can purchase.

Now after signing up the trader has to connect his bank account with his trading account. One can start purchasing bit coins and your bank account will be debited and you will get the bit coins you have purchased.

Selling is done in the same way as purchasing is done and all you need is to keep in mind that the price of bit coin changes after time. The e wallet you are working with will show you the current exchange rate and so you should be aware of the rate before you buy bit coins.

Again there is another way through which you can purchase bit coins. This process is called mining and mining of bit coins is similar to discovering gold from a mine. However as mining of bit coins is similar to discovering gold from a mine, and mining gold is time consuming and a lot of effort is required the same is the case with mining bit coins.

You are required to solve a series of mathematical calculation that are designed by computer algorithms to win bit coins for free. Now this is nearly impossible for a newbie and traders have to open a series of padlocks in order to solve the mathematical calculations.

In this procedure it does not involve any kind of money to win bit coins as it is simply brain work that lets us win bit coins for free. The miners have to run software in order to win bit coins with mining. In reality bit coin is a digital currency that is here to stay for a long time.

Now ever since it has been introduced the trading of bit coin has increased manifold and it is on the rise even today. The value of bit coin has also increased with it s popularity since it is a new type of currency which several traders are finding attractive just because of its earning potentials.

There are some places bit coins are even being used for purchasing commodities and these days many online retailers are accepting bit coins for the purpose of real time purchase. Yes, there is a lot of scope for bit coins and bit coin mining in the coming era and so buying bit coins will not be a bad option and if you believe in it then please visit here.