Bitcoin is the most popular cryptocurrency in the world. After a sharp decline in March 2020, its value is rising again. For everyone who wants to profit from the growth of this cryptocurrency, we will remind you how to buy bitcoin and become a cryptocurrency investor.
Before buying bitcoin, you need to decide where to store it. You can use a crypto wallet (for example, blockchain.info, block.io) or an account on a cryptocurrency exchange (Binance, Bitfinex, Coinbase, etc.). Сreating a crypto wallet is simple and does not take much time. You need to follow the step-by-step instructions on the crypto wallet website and perform simple actions. It is also easy to register on a cryptocurrency exchange, but you will most likely need to provide proof of your identity. Be sure to use two-step authentication, and keep passwords and keys in a safe place - security first.
Now you can buy bitcoin. You don't have to save thousands of dollars to buy one bitcoin. You can buy it in parts. The pieces of bitcoin are called Satoshi. 1 bitcoin = 100 000 000 satoshi. Therefore, anyone can buy as many tokens or bitcoins as their budget allows.
Where to buy bitcoin?
- Cryptocurrency exchange.
When you already have an account on the cryptocurrency exchange, you need to deposit funds, select bitcoin from the list of cryptocurrencies, and click buy. The exchange fulfills counter orders from different market participants and carries out the transaction. That's it. If you are not a trader and do not speculate on cryptocurrencies, then it is better to transfer your bitcoins to your crypto wallet for greater security.
- Crypto exchanger sites.
Unlike cryptocurrency exchanges, crypto exchanger sites do not fulfill counter-requests from sellers and buyers. They use their cryptocurrency to exchange, and their operations are limited by the size of the cryptocurrency reserve. But there is a possibility to exchange cryptocurrency completely anonymously without registration.
- Cryptocurrency trading platforms.
On cryptocurrency trading platforms (localbitcoins.com), you can find many Bitcoin exchange offers from individuals and exchangers in your area. You can exchange both cashless transfers and in-person meetings. Of course, in addition to honest participants, it is easy to meet fraudsters here and lose money. Some exchange platforms have ratings of trust in participants, which makes it easier to find a reliable counterparty.
- Bitcoin ATMs.
Bitcoin ATMs allow you to buy Bitcoin for cash, just like at a regular ATM. If the buyer does not have a crypto wallet, the bitcoin ATM will create it by itself, credit the required amount and give the buyer all the necessary keys and passwords for access. But there are very few bitcoin ATMs. Their use has not yet become widespread. If you have one nearby, use it.
So, buying bitcoin is easy. Use a computer or smartphone with Internet access. Choose one of the above methods. Further actions are simple, and will not cause any difficulties. Anyone with any budget can invest in Bitcoin and other cryptocurrencies.