Instant Alert: We bought and sold $50 worth of Bitcoin — here's how it works

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   We bought and sold $50 worth of Bitcoin — here's how it works by Chris Weller on Jan 5, 2017, 2:54 PM Advertisement A year and a half ago, the idea of buying the virtual currency Bitcoin was laughable. After a rapid rise in value in 2013, the cryptocurrency's value more than halved by mid-2015. At its lowest point, one Bitcoin was equal to about $230. These days, Bitcoin has made a comeback, and recently rallied over $1,000, before fluctuating wildly. But given the currency's covert operations, the average person still may not understand how buying and selling actually works. Using the app Coinbase, which lets anyone trade Bitcoins for a small fee, we decided to find out. A brief warning: If you're going to do this, tell your bank you're about to buy Bitcoin, but more on that later. SEE ALSO: Bitcoin is trying to make a comeback This is what the Coinbase app looks like on an iPhone. When you first open the app, you're presented with the latest price of Bitcoin, which you can sort depending on the desired timeframe, and the change since that period. You can see how wild the latest moves have been in the chart below. I happen to be one of the many who have never traded Bitcoin before, so there is a certain level of wariness in buying into the cryptocurrency world. See the rest of the story at Business Insider   Share the latest business news with your network:    Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011