Bitcoin

Simple Steps to Start Trading Bitcoin

As Bitcoin (BTC) continues to gain momentum, The fear of losing the opportunity to invest in the world’s largest cryptocurrency is increasing every day.

November 18th Bitcoin (BTC) exceeded a price mark of $ 18,000 for the first time since December 2017, less than 10% of its highest ever price of $ 20,000.

Like some analysts I believe that a next threshold of $ 20,000 is not the end, but the beginning of the next Bitcoin explosion With a fortune of $ 1 trillion, it may not be too late to get into Bitcoin.

Simple Steps to Start Trading Bitcoin
Simple Steps to Start Trading Bitcoin

Bitcoin supply is limited to 21 million coinsbut you don’t have to have thousands of dollars to own some. You can buy Bitcoin for as little as $ 15This corresponds to a consideration of around 0.0008 BTC, corresponding to the BTC price at the time of going to press.

It’s not as difficult to invest in Bitcoin as you might think. Here are some simple tips to make buying Bitcoin easy.

1. Choose a reputable crypto exchange

The first step to easily buying Bitcoin is choosing the right crypto exchange.

You may have heard of the world’s largest cryptocurrency exchanges Binance Y. Coinbase, but There are around 400 crypto exchanges worldwideAccording to the leading data encryption website CoinMarketCap.

If you choose a digital asset crypto exchange to buy Bitcoin, Check that the company has a good reputation and is providing services to customers in your country. With tools like CoinMarketCap or CoinGeckoAlso, check the trading volume on a specific platform. Do your research, check out some news and updates on a company website or on Twitter to find out more, such as: B. the platform’s transaction fees, deposit methods and security protocols.

2. Register on a platform and perform the security checks

Once you’ve selected a crypto exchange, Prepare to create an account and proceed with the necessary verification processes. An account can be opened on most crypto exchanges like Binance free and alone requires email and phone number.

Some crypto exchanges like BitMEX and Coinbase require verifications like “know your customer” or KYC for certain operations. So you should have your passport or other form of official identification ready.

3. Don’t forget to enable 2FA

Use a strong password for your account when making a crypto exchange and don’t forget to activate two-factor authentication (2FA). Enabling 2FA will reduce the risk of a security breach or attack by adding an extra layer of security to your account. Google Authenticator is one of the most popular 2FA apps that allows users to verify in two steps on a phone.

4. Consider your preferred payment option

There are several ways to buy Bitcoin for fiat currencies such as the US dollar or the euro. Some crypto exchanges allow people Buy bitcoin with a debit or credit cardas well as with a bank account. One of these methods requires an account or card to be linked to your account on the platform.

Some global crypto exchanges also allow users Buy Bitcoin directly from users through a peer-to-peer servicein which customers search for offers from other users.

Other crypto exchanges Users can buy Bitcoin through third party payment solutions like Simplex You can also buy cryptocurrency from some major payment companies like PayPal.

5. Buy Bitcoin

You can now buy bitcoin. But first you need to decide how much you want to invest. Remember, it is a high risk investment. It’s best to start with meaningful research and an honest assessment of how much you’re willing to take. Top investors and entrepreneurs like Mark Cuban previously recommended investing up to 10% of savings in Bitcoin.

6. Don’t store a lot of cryptocurrencies directly on an exchange

When you have bitcoin, take care of your crypto. By holding your crypto assets on a cryptocurrency exchange, Users are at risk of losing access to them for several reasonsB. a potential hack or security breach that could lead to frozen withdrawals or other issues.

To keep your bitcoin safe, Use a cold wallet or a paper wallet. Read the Cointelegraph article over For more information on crypto security, see How to Protect Your Crypto.

Disclaimer: Investing in Bitcoin carries a high level of risk and may not be suitable for all investors due to the high volatility of BTC prices. Before investing in cryptocurrencies, you should carefully weigh your investment goals and the risks of losing money.

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