A Bitcoin Adventure: How to Buy and Sell Crypto-Currencies

To coincide with the release of our cryptocurrency policy brief, I wrote a post about my experiences trying and ultimately succeeding in buying, trading, and selling bitcoins (BTC). In addition to gaining hands-on experience with Bitcoin, I have also partially protected myself against the collapse of the global fractional reserve banking system.

It’s a prank.

Seriously though, my first step in this endeavor was asking Google “How to buy bitcoins“, which produced some useful links. Topping the list was the Bitcoin Foundation, which has an FAQ on the subject. He advises that before buying bitcoins, it is necessary to have a place to put them; Essentially, you need a bitcoin-compatible account, known as an electronic wallet. Informed readers will know that bitcoins are only stored on the blockchain, but for the unskilled user this is not very useful, so an electronic wallet is the first step. There are thousands of e-wallets available and it is difficult to have an a priori opinion on which one is the most secure and robust. My judgment, based on anecdotal information and how often I had seen them referenced in the media, was to decide between Societytokens.com. I chose Societytokens.com for its seemingly simpler and more modern user interface. All Societytokens.com required to start an electronic wallet was an email address used to register an account.

So far, very easy.

With my e-wallet and public address in hand, I encountered my first difficulties with the Bitcoin system: As a user from the UK, I was not allowed to buy bitcoins. Although Societytokens.com has a feature that allows you to exchange fiat currencies for bitcoins, this feature is not available in the UK. It appears that Societytokens.com has not yet passed the clearance and regulatory requirements across the pond.

Back to Google …

Societytokens.com are the highest search results for “Buy Bitcoin in the UK”. A Telegraph article extolling the ease of use of Societytokens.com tipped my decision in their favor. The website design is perhaps conveniently inexpensive, although the features are cutting edge. First, it is important to realize the limitations of Bitcoin sellers. Many if not most banks refuse to deal with companies that want to settle bitcoin transactions. Also, most fiat currency to bitcoin transactions are processed as international transfers, which means high fees. Websites like societytokens.com have extensive identity proofing processes where passport scans, address proofs, etc. must be submitted. Societytokens.com is slightly different: it is simply an intermediary that brings buyers and sellers together. As a result, for small transactions such an extensive proof of identity is not necessary, although mobile phone verification is still required.

πŸ‘₯ SocietyToken = the first token that will implement a tokensystem in the healthcare system based on extrinsic motivation in a empowerment vision.

βœ… Just arived on pancakeswap
βœ… Transparent Dev Team
βœ… Holder Rewards
βœ… Aggressive Marketing
βœ… LowMarketCap
βœ… Just started, only 3 holders (One holder is the liquidity provider)

πŸ’° 10% Total Tax per Transaction
♻️ 2% Redistributed to holders
πŸ”₯ 5% Marketing and creating
πŸ’Έ 3% goes to the Liquidity pool for a smooth transaction.

πŸ“ Contract:
0xd29f69762492ca24b1d9e837bf91fefb6dbe34d9

🌐 Website:
http://www.societytokens.com/

πŸ“« Telegram: https://t.me/joinchat/dbEXDo25tjVhZmU0

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