If you plan to buy Bitcoin or Cryptocurrency there are a few ways to do so, along with a few ways to store any coins that you buy. Perhaps the simplest, safest and most trusted way to purchase Cryptocurrency would be to open an exchange trading account. This is essentially an online wallet storage service for you, that also offers the ability to exchange coins for others coins, to trade the market, and of course to order transactions to send or receive coins from or to your own wallets.
Buying Cryptocurrency with a credit/debit card
When using any of the exchanges above, a seamless process to buy Bitcoin or Cryptocurrency through your web browser is available. To do so you must:
Buying Cryptocurrency using coin gates
Should you prefer to buy and use Cryptocurrency away from any of the exchanges above you can do so by using services such as coin gateways. These gates allow you to buy Cryptocurrency instantly using your credit/debit card. They also provide a digital wallet that you can use to hold your newly bought coins, or send them on to an exchange account or simply another wallet address. Please be aware, these guys do charge very high fees, sometimes up to 10% if using a credit card!
As with any form of Cryptocurrency, there will always be a need to have a digital wallet to store in. Each token or coin has a unique name and wallet. A majority of Cryptocurrency tokens have both native wallets (apps you can download specifically for them only), and of course wallet abilities on any exchange where the token/coin is traded. A wallet is essentially just a digital bank account, secure and safe, only accessible by you or someone who has your unique passwords and wallet identifiers.
N.B – Never ever share your private wallet secret passphrase with anyone and do not leave your passwords written down and lying around. If anyone has your access information they can and most likely will empty your account! Always keep your info secure at all times.
The most advanced and secure private Cryptocurrency wallet you can get today is via blockchain.com – the largest, oldest and most trusted wallet provider in the industry.
Offline or cold storage comes into play when you do not want to have your Cryptocurrency sat in an exchange account, and you do not want to be carrying around on your phone your entire net worth. Cold storage/offline storage is essentially a modified USB key, which you can load your coins onto and then put physically into a safe, or even like some do, into a hole in the ground in the garden! The point is, many decide that they will buy Cryptocurrency and come back to it in a few years. Offline/cold storage is a widely accepted technique to accomplish such a goal.