In 2009, Satoshi Nakamoto developed the first Cryptocurrency in the market – Bitcoin. Since its development, Bitcoin has become highly in demand, and due to its constant high value, it has become the leading cryptocurrency in terms of market cap. The birth of bitcoin also led to the emergence of several other cryptocurrencies, which engaged millions of individuals worldwide to invest in or trade in the crypto market nowadays.
Trading in Cryptocurrency is not just about investing a sum of money and just waiting for your money to either double or disappear. This field requires a certain level of knowledge and skills in order to be successful.
With the high number of crypto investors in the market nowadays, it’s only natural to know that the majority of these individuals and firms own the first cryptocurrency – bitcoin. Whether veterans or newbies, some are just attracted to the benefits and advantages that Bitcoin brings. So, if you are one of the newbie investors who plan to invest in Bitcoin but lack the knowledge on how to purchase the cryptocurrency, read on.
This article tackles the different methods and interesting ways that you can try to purchase Bitcoin. To help you, check out these seven ways that we’ve compiled:
Throughout the years, many firms have offered cryptocurrency through third-party agents such as brokers. If you plan on engaging in brokers, you should at least have an idea of how the whole process works: The brokers that sell Bitcoin would assist you first by determining your financial status and learning about the Bitcoin blocks’ better-performing chain so you can ensure the best results.
Brokers handle almost everything in the process – from taking charge of the paperwork collecting the needed requirements to reaching out to you for the payment to finish the process. So, if you are not a fan of collecting and processing paperwork, then this method must be perfect for you.
2. Wallet Applications
There are several wallet-based applications that now allow users to transfer their funds from banks directly to their crypto wallets and be converted to bitcoin wallets. With lesser convenience fees and low processing charges, these wallet-based applications require bitcoin investment.
3. Direct Purchase
One of the easiest ways to possess Bitcoin is through direct purchase. Newbie investors only need to select a trading platform such as Bitcoin Era, register by visiting a crypto-trading counter and must possess two important things: valid proof of identity and a good internet connection. Once the registration form is filled up, the user will be given a trading account to buy Bitcoin.
4. Bitcoin ATM
In 2013, the first Bitcoin ATM opened in Vancouver, Canada. Nowadays, there are various machines in different places that help users to purchase bitcoin directly by only using their cash or card. Compared to other methods, Bitcoin ATMs offer less convenient charges and guarantee traders a 7% investment return through ATMs. However, in order to utilise this method, users must possess a bitcoin wallet or trading wallet since the machine is not accessible through a debit card.
5. Stock Market
In recent years, the number of individuals and firms who started using bitcoin as a mode of payment increased. Due to this, huge companies and brokers have also started to sell part of their stocks in the form of Bitcoin. This led to the idea that Bitcoin can be an investment mode as it is sold by huge companies through beneficiary investors who have plans on buying it.
When it comes to investing, one major concern that every investor must take into account is the safety and security of their funds. Compared to the traditional currency process, Cryptocurrency does not involve third-party agents such as government authorities or banks. Specifically, Bitcoin transactions are stored in a highly secured system known as the blockchain.
The list above contains some of the common and easy ways to purchase Bitcoin. So if you are a newbie investor who wants to get your hands on some Bitcoin funds, choosing one above can be a great start. Just make sure to do your research first about investing, Bitcoin’s price history, some tips and tricks for newbie investors, and ways to store your funds securely before you invest even a small amount of money to avoid losing your funds in just a blink of an eye.