So you want to buy some bitcoin.

My first challenge in The Great Crypto Experiment was to buy some cryptocurrency. Bitcoin is the most well known ( and most valuable) of the cryptocurrencies, so it seemed like a good place to start.

Fiat Currency vs Cryptocurrency

The money that we are all used to using on a daily basis, whether it be Dollars, Pounds, Euro or Yen, is known as fiat currency. Investopedia defines fiat money as:

Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of.
https://www.investopedia.com/terms/f/fiatmoney.asp

Cryptocurrency exists on the blockchain ( more on that later ) or in cyberspace if that is easier for you, much like how your bank account exists on the banks computer, so I had to figure out a way to change my fiat money, in my case JPY, into bit coin. When I searched online the first thing that came up was Coinbase, but this is only usable if you are in Europe or the USA. I eventually found Bitflyer, which is a Japanese site and therefore accepts JPY.

https://bitflyer.jp?bf=5vnxylzb

Signing up was a fairly simple process, but verifying my bank account will take some time. Luckily, there is an option to pay at the convenience store. I installed their app on my iPhone, grabbed my bank card, put on my shoes and coat and headed out the door. On the way to the store I went to Account Funding in the BitFlyer app and chose Quick Deposit.

I entered the amount I wanted to transfer, followed the onscreen instructions and it brought me to a QR Code.
Like this:
In the convenience store I went to the ATM and withdrew some cash.
Next to the ATM, there was a machine that scanned the QR Code on my phone and printed out a paper with a bar code on it, which I took to the counter. The clerk scanned the bar code. I paid my money. The clerk gave me a receipt and I left the store. The whole process took mere minutes. What was even more amazing, was that just after leaving the store I got a confirmation email and my JPY was credited to my account. It could not have been easier or smoother.
I was ready to buy some crypto currency.