The S&P 500 slumped 1.8% on Monday and Tuesday, thanks to China Evergrande, the Chinese property company that looks like it is ready to default on its more-than $300 billion in debt. Cries of the next Lehman Brothersβor maybe the next Silverado?βechoed through the canyons of Wall Street as investors prepared for the worst.
How to Buy Bitcoin?
Most people buy Bitcoin via exchanges, such as Coinbase. Exchanges allow you to buy, sell and hold cryptocurrency, and setting up an account is similar to opening a brokerage accountβyouβll need to verify your identity and provide some kind of funding source, such as a bank account or debit card. Major exchanges include Coinbase, Kraken, and Gemini. You can also buy Bitcoin at a broker like Robinhood. Regardless of where you buy your Bitcoin, youβll need a digital wallet in which to store it. This might be whatβs called a hot wallet or a cold wallet. A hot wallet (also called an online wallet) is stored by an exchange or a provider in the cloud. Providers of online wallets include Exodus, Electrum and Mycelium. A cold wallet (or mobile wallet) is an offline device used to store Bitcoin and is not connected to the Internet. Some mobile wallet options include Trezor and Ledger.
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