Bitcoin is the hottest trend of the world economy, with almost everyone in the world taking part in intense Bitcoin trading to make booming profits. Driven by advanced Blockchain technology, Bitcoin is a decentralized electronic currency or cryptocurrency that enables peer-to-peer transaction. If you are enthusiastic about Bitcoin and Blockchain, then now is the best time to start. Read on to find out about how and where to buy a fair share of Bitcoin to take part in Bitcoin trading.
Where and How to Buy Bitcoin or Other Cryptocurrencies?
It is very simple to buy Bitcoin. All that you have to do is follow the steps below for purchasing a fair share of Bitcoin and other cryptocurrencies. Make sure that you visit authentic and official websites only for buying and selling Bitcoin.
1. Choose a secure Bitcoin wallet
The Bitcoin wallet stores the Bitcoin. There are a variety of digital wallets of different features that run on different platforms. A quick tip for selecting a Bitcoin wallet is to choose one that is not linked with any crypto exchange. As per BTC News, Some of the most recommended Bitcoin wallets are Exodus, Mycelium, Bitcoin Core, and more.
2. Select the most suitable Bitcoin trading platform
The right place to purchase Bitcoin is on a cryptocurrency exchange. There are several exchanges in the industry. Experts recommend Coinbase, the cryptocurrency exchange, as it is the most secure and trustworthy of all. It is very easy and hassle-free to register with Coinbase. Sign up with Coinbase Pro as well to gain more control over your trading moves.
If you do not want to sign up with a cryptocurrency exchange, then you go for the direct route of buying Bitcoin. The peer-to-peer service platform, like BitQuick or LocalBitcoin, allows users to buy Bitcoin directly from sellers.
3. Select the method of payment
Beware of scam sites while making payments for buying Bitcoin. If you buy Bitcoin from Coinbase, then you can use your credit or debit card for payment, or pay directly from your bank account as well. You have to link at least one payment mode to your account on the crypto exchange before taking part in trading.
4. Buy a share of Bitcoin and store it in your digital wallet
The cryptocurrency exchange furnishes the registered user with important information regarding the purchase of Bitcoin. The exchange takes note of the price pattern of Bitcoin and the market conditions and advises the registered user accordingly to purchase a portion of a Bitcoin. Store the purchased amount of Bitcoin in the digital wallet.
5. Use the purchased Bitcoin
The price of Bitcoin fluctuates erratically, so make sure that you use the Bitcoin at a moment’s notice. Keep a seller account ready so that you don’t have to hold onto your Bitcoin share for long. You can search for the future price prediction of Bitcoin by crypto experts.
What Are the Various Ways to Buy Bitcoin?
There are different ways to buy Bitcoin:
- Buy Bitcoin online and pay with a debit or credit card, or pay directly from the bank account.
- Buy Bitcoin from a local Bitcoin ATM
- Buy Bitcoin by paying through PayPal.
- Buy Bitcoin in exchange for cash deposits.
How to Buy Bitcoin With a Bank Account?
You can buy Bitcoin and make the payment directly from your bank account by a simple bank transfer. However, you can only do it on the cryptocurrency exchanges that facilitate bank transfers. The USA offers specific types of transfers, like ACH and SEPA transfers. The popular and trustworthy crypto exchanges that permit buying Bitcoin via bank transfer include:
- Coinmama works in almost every country
- eToro supports trading in Bitcoin, Ethereum, and fifteen other cryptocurrencies
- Coinbase is the easiest for use by beginners who seek to buy Bitcoin
- Coinbase Pro allows buying Bitcoin at a 0% fee.
Sign up with a trusted cryptocurrency exchange to buy Bitcoin and take part in trading to become a millionaire someday. Buying and selling Bitcoin is easy as long as the crypto exchange is trustworthy and reliable. Keep an eye out for the erratic volatility of prices and make modest investments. Conduct trading consistently to make rich profits.