How to Invest in Bitcoin?
After seeing how the prices can double and even triple in a short timeframe, you must be wondering how to invest in Bitcoin. This does not have to be a difficult thing - buying and investing in Bitcoin are becoming quite commonplace. Before...
After seeing how the prices can double and even triple in a short timeframe, you must be wondering how to invest in bitcoin. It is not a difficult thing - buying, selling, and investing in bitcoin is commonplace in 2019.
In short, here is what you need to do.
- Figure the amount out want and can afford to invest.
- Sign up on a cryptocurrency exchange.
- Follow the exchanges instructions to purchase bitcoins.
- OPTIONAL (but highly recommended): Set up a private Bitcoin wallet.
- OPTIONAL (but highly recommended): Transfer your coins from the exchange to your private wallet to keep it safe.
How to invest in bitcoin?
Before starting the process, you need to figure out how much you want to invest. As you may have noticed, cryptocurrency markets are quite volatile. Never investing more than you can afford to lose is solid advice and a good rule of thumb that will guarantee you a good night's sleep.
Next, you ought to find a decent cryptocurrency exchange that provides services in your region. Most widely accessible fiat-to-crypto exchanges and brokerage platforms include:
These services are rather user-friendly and make it easy to purchase bitcoins wherever you are. They also have a variety of purchase options - you can buy BTC via PayPal (eToro only), credit or debit card, bank transfer, exchange it for other cryptocurrencies or simply purchase a CFD contract.
Going further, before you invest in bitcoin, it is advisable to know how to get a cryptocurrency wallet. It is unsafe to keep your cryptocurrency in an exchange wallet as it can lead to terrible repercussions. Take time to learn about bitcoin wallets and find the most suitable option for you.
It is recommended that after you get yourself some bitcoin, you transfer it to your private wallet and keep it secured there until you’re ready to use it or sell it.
If you want to learn more about bitcoin trading, read an in-depth article on it. Also, here are ten bitcoin trading mistakes beginners need to avoid.
To find the best places to buy and sell bitcoin, keep an eye on our Price Tracker. That way, you always know when to buy and when to sell if you want to make a profit, and which exchanges have the best offers.
Whether you want to HODL, day trade or invest in crypto funds, keep your coins secure! Do your own research, find the way that works best for you and don’t believe in scams. If somebody is offering you free money if you send them some of your coins, it’s a scam. You can find more information about five crypto scams to be aware of here.