You don’t need thousands of dollars to invest in Bitcoin and getting started is not as difficult as you can imagine.
As Bitcoin (BTC) continues to gain momentum, the fear of staying out of investments in the world’s largest cryptomeda is growing every day.
On November 18, the Bitcoin (BTC) reached a price mark of $18,000 for the first time since December 2017, less than 10% of its all-time high of $20,000.
As some analysts believe that the next $20,000 mark is not the end, but the beginning of the next Bitcoin explosion toward a $1 trillion asset may not yet be too late to enter Bitcoin.
The stock of Bitcoin is limited to 21 million coins, but you do not need to have thousands of dollars to own some. You can start buying Bitcoin with as little as $15, receiving about 0.0008 BTC in exchange, according to the BTC price at the time of publication of this article.
Starting to invest in Bitcoin is not as difficult as you can imagine. Here are some simple tips to buy Bitcoin easily.
1. choose a reliable cryptomachine booth
The first step to buying Bitcoin is to easily choose the right cryptomeda exchange.
You may have heard of the world’s largest cryptomote exchanges, like Binance and Coinbase, but there are about 400 cryptomote exchanges worldwide, according to the great cryptomote data site CoinMarketCap.
When choosing a digital asset exchange to buy Bitcoin, make sure the company is suitable and serves customers in your country. Using tools like CoinMarketCap or CoinGecko, also check the trading volumes on a given platform. Do some research, read some news and updates on a company’s website or Twitter for more information such as platform transaction fees, deposit methods and security protocols.
2. Sign up for a platform and complete the security checks
Once you have chosen a crypto exchange, prepare to create an account and proceed with the necessary verification processes. Opening an account at most exchanges, such as Binance, is free, requiring only an email and a phone number.
Some cryptomode exchanges, such as BitMEX and Coinbase, require Meet Your Customer checks for certain cryptomode operations, so you’ll want to have your passport or other official ID document in hand.
3. Don’t forget to enable the two-step verification
Use a strong password for your account in a crypto exchange and don’t forget to enable two-factor authentication, (2FA). 2FA enabled reduces the risk of security breach or hack by placing an additional layer of security on your account. Google Authenticator is one of the most popular 2FA applications, providing users with two-step verification with a phone.
4. Consider your preferred payment option
There are several ways to buy Bitcoin News Trader with currencies like the US dollar or the euro. Some crypto currency exchanges allow people to buy Bitcoin using a debit or credit card as well as a bank account. The use of one of these methods will require the linking of an account or card to your account on the platform.
Some global exchanges also allow users to purchase Bitcoin directly from users via a peer-to-peer service, in which customers browse offers posted by other users.
Other cryptomode exchanges allow users to purchase Bitcoin through third-party payment solutions, such as Simplex, and some large payment companies, such as PayPal, also allow cryptomode purchases (for now, only in the US).
5. Start buying Bitcoin
Now you are ready to buy some Bitcoins, but first you must decide how much you want to invest. Remember that this is a high risk investment and it is best to start with a meaningful research and honest calculation of how much you are willing to risk. Large investors and entrepreneurs like Mark Cuban have recommended in the past to invest up to 10% of their savings in Bitcoin.
Don’t keep too many cryptomaps directly in an exchange
To keep your Bitcoin safe, consider using a cold wallet or paper wallet. Read Cointelegraph’s piece on how to keep your crypto safe for more tips about crypto security.
Once you have a Bitcoin, take care of your crypto. By keeping the assets in a cryptomeda exchange, users run the risk of losing access to them due to a number of reasons, such as a possible hack or security breach, which can result in frozen looting or other problems.
To keep your Bitcoin safe, consider using a cold wallet or paper.
Disclaimer: Investment in Bitcoin is associated with a high level of risk and may not be suitable for all investors due to the high volatility of BTC prices. Before investing in crypto, you should carefully consider your investment objectives and the risks of losing money.