In the past seven years, Bitcoin has enjoyed a meteoric rise in value, from £246 in 2015 to its current price of over £31,000 .
However, investing in Bitcoin is inherently risky.
Bitcoin’s price is therefore a function of supply and demand and, as such, could plummet if it’s no longer accepted as a means of payment.
Here, you’d need to find a second exchange to buy coins that your chosen exchange uses, before you could start trading.
Having chosen an exchange or broker, you’ll need to add funds to your account before you’re able to start trading.
Credit card payments are usually treated as a cash advance, and subject to a higher interest rate than other forms of payment.
Once you’ve transferred money into your account, you’re able to buy Bitcoins.
You may have little choice in the storage mechanism if you buy Bitcoins via a broker.
One option is to buy shares in companies that use, or own, Bitcoins and the blockchain that powers them.