As Bitcoin (BTC) continues to gain traction, fears of losing investment in the world’s largest cryptocurrency are growing every day.
On November 18, Bitcoin (BTC) topped the $ 18,000 price tag for the first time since December 2017, which is just under 10% of as much as $ 200,000.
Since some analysts believe that the next $ 20,000 threshold is not the end, but the beginning of the next $ 1 trillion Bitcoin explosion, it may not be too late to enter Bitcoin.
Bitcoin is quoted at 21 million coins, but you do not have to have thousands of dollars to own any of them. You can start buying bitcoins for as little as $ 15 and get around 0.0008 BTC in return, according to the price of BTC at the time of admission.
Getting started with Bitcoin investing is not as difficult as you might think. Here are some simple tips on how to easily buy Bitcoin.
Choose a reliable cryptocurrency exchange.
The first step to buying bitcoin is to easily choose the right cryptocurrency exchange.
You may have heard of the largest crypto exchanges in the world, such as Binance and Coinbase, but according to the main crypto data site CoinMarketCap, there are around 400 crypto exchanges worldwide.
When choosing a digital asset exchange to buy bitcoin, you need to check if the company has a reputation and offers services to customers in your country. Using tools such as CoinMarketCap or CoinGecko, also check the trading volume on a specific platform. Do some research and read some of the news and updates on the company’s website or Twitter for more information, such as transaction fees for the platform, deposit methods and security protocols.
2. Register on the platform and complete a full security check.
Once you have selected a cryptocurrency exchange, you must prepare to create an account and complete the necessary checks. Opening an account with most cryptocurrency exchanges like Binance is free and requires only an email address and phone number.
Some cryptocurrency exchanges such as BitMEX and Coinbase require KYC verification (KYC) for certain cryptocurrencies, so you will need to prepare a passport or other official identification.
3. Do not forget to activate 2FA.
Use a strong password for your exchange account, and don’t forget to enable two-factor authentication or 2FA. The included two-factor authentication reduces the risk of security breaches or security breaches by providing an extra layer of security for your account. Google Authenticator is one of the most popular two-factor authentication (2FA) apps that provide users with two-factor authentication on their phone.
4. Consider your preferred payment option.
There are several ways to buy bitcoin with fiat currencies such as US dollars or euros. Some crypto exchanges allow people to buy bitcoins using debit or credit cards, as well as a bank account. If you use one of these methods, you will need to link your account or card to the platform account.
Some global exchanges also allow users to buy bitcoin directly from users through a peer-to-peer service where customers see offers posted by other users.
Other cryptocurrency exchange platforms allow users to buy bitcoins through third-party payment solutions such as Simplex, and several major payment companies such as PayPal also allow the purchase of cryptocurrencies.
5. Start buying bitcoins.
You are now ready to buy Bitcoin, but first you need to decide how much you want to invest. Remember that this is a high risk investment, and it is best to start with serious research and an honest calculation of your willingness to take risks. Large investors and entrepreneurs like Mark Cuban have previously recommended investing up to 10% of a person’s savings in bitcoin.
6. Do not store many cryptocurrencies directly on the stock exchange.
Once you have Bitcoin, take care of your cryptocurrencies. By holding money on a cryptocurrency exchange, users risk losing access to them for a number of reasons, such as a potential breach or breach of security, which could lead to freezing of withdrawals or other problems.
To keep bitcoin safe, consider using a cold or paper wallet. Read the Cointelegraphs article on how to maintain your cryptographic security for more crypto security tips.