Is it a good idea to buy bitcoins? Can you make money from bitcoins?
If you have the spare cash – the answer to the two above questions is: yes.
For those that don’t know already, bitcoins are a form of digital currency that has rocketed in popularity recently.
At the time of writing the value of a single bitcoin is over $4,000.
There is no set price for bitcoins, though you can find the latest average price of bitcoins traded at exchanges.
One website if you are in the UK is BTCtoGBP.co.uk.
You can find the latest price of bitcoins or buying coins in the UK at BTC exchange LocalBitcoins.com here.
Buying and Selling Bitcoins for GBP
The price of bitcoins can vary, and goes up and down frequently over short periods of time. This makes it possible to buy low and sell high, or to hold onto bitcoins for long enough to make a profit – then cash them back in.
You can buy or sell bitcoins in the UK using your bank account on LocalBitcoins.com.
Watch the video below for a quick guide to bitcoins.