You can BUY Bitcoin online using a cryptocurrency exchange platform like Coincasso. A cryptocurrency exchange is an open market where people buy bitcoin and sell cryptocurrencies. Cryptocurrencies like bitcoin are unique in the sense that you can store your digital currency on a private digital wallet or you can store it on a cryptocurrency exchange. When you buy and store your bitcoin on a cryptocurrency exchange you have the ability to buy or sell bitcoin quickly to the other users on the exchange.
When you first sign up on a cryptocurrency exchange platform you must first verify your identity for security. This is usually done through the KYC process where they ask for proof of residence and a government issued ID. After this process is finished and your account is verified you will then be able to link your bank account to deposit funds into your account or you have the option to deposit using a debit card.
On the exchange you will see the option to exchange your fiat currency to buy bitcoin or the cryptocurrency you wish to purchase. For example USD/BTC which means US Dollar to Bitcoin. So currently if you would like to buy one Bitcoin you would have to spend $7,000 USD.
If you would like a step-by-step video tutorial of how to buy a Bitcoin on CoinCasso’s Cryptocurrency Exchange, please watch this video. HOW TO BUY BITCOIN
Step 1. Sign up for a free account on any Cryptocurrency exchange. We recommend www.CoinCasso.com
Step 2. Verify your account through the KYC Process. Upload a photo ID and Proof of address.
Step 3. Fund your account with your fiat currency like GBP, EURO, USD, YEN, etc.
Step 4. Choose the buy bitcoin option on the Trading Dashboard and insert the amount you wish to purchase, and submit your offer.
Step 5. Celebrate! Because you just bought your first Bitcoin.
This entire process to buy bitcoin can be completed in approximately 5 minutes on the CoinCasso Cryptocurrency Exchange.
Click here if you would like to watch a video on how to set up your account NEW ACCOUNT TUTORIAL
Bitcoin can be easy to buy and sell if you choose the right cryptocurrency exchange. How to buy bitcoin has been covered in so many articles online and everyone of them has a different perspective. So We hope this article is the once that actually helps you buy your first bitcoin.
One of the key things to remember is that you need to have your bank account or some way to transfer funds from to a bitcoin exchange so you can buy and sell bitcoin.
Some Institutions even offer your bank account that will directly connect to your chosen exchange with a simple login instead of wire transfer on your end. The best way to find out which exchanges offer this is to check their website or exchange features.
Can you buy a partial Bitcoin?
Bitcoin can be purchased in any amount. Some exchanges have a minimum transaction value of $5 but basically you can buy and sell bitcoin or a piece of bitcoin in any fraction or decimal point value. For example you can buy $10 worth of bitcoin in the exchange and that would give you .0014 of a bitcoin and you can sell the same amount if the price of bitcoin goes up and you want to profit from the increase in price of bitcoin.
One Bitcoin currently is valued at $7,000 USD. Bitcoin can also be split up into a unit of measure called a Satoshi. One Bitcoin is made up of 100 million Satoshi. In the future as the value of 1 Bitcoin will be very high, it is likely that people will use the term satoshi more to describe how much of a bitcoin they want or possess.
This is a tricky question to answer with a simple yes or no. So let’s get into what a good investment is. A good investment is anything that will gain value over time. So technically investing in the stock market is a good investment over time but there are some individual stocks that are poor performers and could lose you money, making it a bad investment. To prevent issues like this, it is best to have a diversified investment portfolio.
Diversifying your portfolio means having a mixture of Stocks, Bonds, ETF’s, Commodities, Cryptocurrencies, and even a 401K. So you can see now how cryptocurrencies play an integral role in diversifying a portfolio.
when the market crashes like it recently did, many people moved their money into Gold. They do this in order to protect against losses because statistically the value of Gold goes up during times of financial instability. These reason Gold is valuable is because there is only a finite supply above ground and in circulation, causing scarcity. The same goes for Bitcoin. There can only be 21,000,000 Bitcoins which is why people deem it so valuable.
Again, an investment is considered good if it goes up in value over time. So market analysts have predicted that bitcoin will someday be worth $100,000 so if you were to buy bitcoin now at $7,000 it would be a good investment. Conversely if you purchased Bitcoin at $20,000 in 2018 it would be considered a bad investment. I encourage each of you to head over to our YouTube Channel where we have a Knowledge playlist with 10 videos on basic cryptocurrency knowledge as well as daily
Cryptocurrency Price and News videos so that you can stay informed and educated on the topic of cryptocurrency. This way you will have the knowledge to make an educated decision on when to buy Bitcoin for yourself.
We have already covered how to buy bitcoin, now let’s discuss the easiest way to invest in cryptocurrency. Getting ready to buy Bitcoin is a crucial part of the process. You should first get educated and then make the decision if bitcoin is right for you as there are many other cryptocurrencies you can buy. The most important thing you can do is simply invest in Bitcoin and hold it for the long term. Even now with everything going on in the global economy if you purchased bitcoin today and in 20 years it grows to over $100,000 each, you made a wise investment. If however you are looking to day trade bitcoin, then you will need a high level of skills in analysis and market projections. Which is not easy.
So in short the easiest way is to head over to Coincasso, set up a new account, buy bitcoin and hold on to it for 10-20 years. I know this goes against what most people say, how you “should” watch your investments everyday and track statistics, but I feel like that only causes anxiety and may result in an inexperienced trader making an emotional decision which exactly what you DON’T want to do.
Setting up your account and funding if from your bank account is also simple. Buy bitcoin today and become a part of the cryptocurrency world.
Just in case you would like a quick lesson on bitcoin, here is an excerpt from our what is bitcoin Article. You can also watch the full video HERE.
So let’s jump right into the definition. Bitcoin, by definition, is a cryptocurrency. Bitcoin was the Original cryptocurrency, basically, it’s a decentralised digital currency without the control of a centralised bank (traditional bank account) or administrator. It can be sent and received from user to user, on the peer-to-peer Bitcoin Network without any intermediaries.
Now, what does that all mean? I want to break down cryptocurrency into the word itself, crypto, stands for cryptography. Cryptography is a method of protecting information and communication through the use of codes. So that only those for whom the information is intended can actually read and process it
So when you buy, sell, give or trade the cryptocurrency to somebody else. You have a public key and a private key. The private key is used to initiate a transaction, basically it’s your digital signature. The public key is used by nodes in the entire Bitcoin Network to verify and make sure the transactions are legitimate. This process is called mining.
So Bitcoin is not only a currency but a decentralised blockchain ledger.
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