In a tweet posted March 22, 2019, Coinbase announced that it has compiled a new instructional guide on how to purchase Bitcoin (BTC) that is specifically aimed at simplifying the buying experience for new investors.
Called ‘Coinbase Buying Guides,’ the digital currency exchange said that it could benefit from as many as 105,000 people that search for instructions on how to buy bitcoin every month.
— Coinbase (@coinbase) March 22, 2019
Simplifying the Bitcoin (BTC) Investment Process
Digital currency exchanges are starting to simplify the cryptocurrency buying experience for new customers.
While the cryptocurrency market rally of 2017 played a key role in taking digital currency to the masses, individuals also need to learn about the basics of cryptocurrency. One of the top American cryptocurrency exchanges by market volume, Coinbase, has likely realized the complete lack of quality educational material on the technology.
Statistics available from Google Trends show that an increasing number of people are searching for “how to buy bitcoin,” especially over the course of the past 90 days. Notably, users in developing countries where internet availability has improved are searching the term more than those in first world countries. As a result, nations such as Nigeria, Ghana, Guam, St. Helena, and Jamaica feature in the list of top five countries. This shows an evident lack of material for simplifying the process of buying Bitcoin and other digital currencies.
Bitcoin Usage Growing by the Month
Data sourced from Statista shows that the number of Bitcoin wallets stood at less than five million in Q1 2015. This number increased to more than 30 million by the fourth quarter of 2018.
Digital currencies have reached geographies bereft of financial and banking services. Decentralized finance offers greater financial security to the marginalized, especially in countries with extremely weak economies — such as Venezuela.
Did you read a guide before purchasing your first bitcoin? Let us know in the comments below!