If you’re not into the world of cryptocurrency trading, there you’re missing out on the great value of becoming rich. A lot of stories of people investing in cryptocurrency and making it big. I also invest cryptocurrency has a made a huge profit, you can also start now. We will list some of the best cryptocurrencies to invest on in 2021/2022. Also, if you’re looking for bitcoins to buy, we will show you how to buy bitcoin.
There are different ways to buy bitcoin, you can either buy through exchanges and stockbrokers or from other people with bitcoin. Regardless of bitcoins to buy, you need to know that there are risks involved in investing in digital assets. When planning to start investing in the world of cryptocurrency, the first step to stay is purchasing a bitcoin. For people that mostly make use of traditional financial products, this can be quite difficult, but not as it seems. However, Bitcoin is the first and world most popular cryptocurrency with a worth of $3,327 in December 2018, and obtaining a new height of above $65,000 in November. Currently, bitcoin is at $51,000 and this is a good time to invest in the cryptocurrency market. There 4 steps to purchase bitcoin.
How to Buy Bitcoin
Step 1: Decide where to buy bitcoin
On the contrary, there are different ways in which you can invest in bitcoin and also other cryptocurrencies. This includes exchanges and traditional brokers. However, the cryptocurrency exchange is one place where you can buy bitcoin and there are several of them. Binance.US, Coinbase, eToro, Gemini, Robinhood, Webull, and SoFi Active Investing are places where you can buy and sell bitcoin and over cryptocurrencies.
Step 2 Decide how to store bitcoin
There are two places where you can store your bitcoin on digital wallets. This includes a hot wallet and a cold wallet. Hot wallet includes a trusted exchange or provided where your bitcoin is been stored in a cloud. You can access it via an app or PC on the internet. When you get started with any trading exchange, you receive a free bitcoin hot wallet to store your bitcoin when you buy them. Example of the hot wallet includes Coinbase, Electrum, Blockchain, Mycelium.
As for cold wallet, this is a small and secure portable device that enables you to download and carry your bitcoin. A cold wallet is quite expensive as it cost $100, but it’s more secure and encrypted than a hot wallet. Example of cold wallet providers includes Trezor and Ledger Nano.
Step 3: Buy your Bitcoin
Once you have linked your bitcoin wallet to the bitcoin exchange in which you prefer, then you can decide how much worth of bitcoin you want to buy. As of today, 1 BTC is $51,000 and you can start with any amount.
Step 4 Manage your investment
You need to understand that the market changes often, most time the worth of bitcoin might raise, and sometimes it might fall. However, you want a day trading, when bitcoin goes up, you can decide to sell. But if you see bitcoin as the future payment method, you can decide to invest for a long time.