Build Your Own Blog Like This One

Investing in Bitcoin is one of the most sought-after avenues today to save and grow money. This is the cryptocurrency pioneer and the most popular on the market, with a value which today amounts to more than 60 thousand dollars.

 

 

However, the market for this type of digital currency presents great volatility that you should consider when investing, in addition to many other risks. Below you will find a quick guide so that you can invest in Bitcoin reducing the risk of theft or scam on the network.

 

Reasons to Invest in Bitcoin

Bitcoin is a cryptocurrency designed to gain value over time and counteract inflationary effectswho have fiat currencies in the world. But, in addition, it has:

Liquidity

This is one of the great reasons that invites you to invest in this cryptocurrency. And is that thanks to its popularity, Bitcoin is increasingly accepted in all kinds of businesses in the world.

In addition, it is possible to change it to currency when required.

 

Speed ​​of Transactions

Today the digital platforms that are dedicated to the exchange of cryptocurrencies, offer minimum guarantees of security in their transactions.

Therefore, making and receiving payments in these currencies would not pose a risk when the appropriate preventive measures are taken, as you would with any other monetary transaction.

 

Transaction Hours

In the usual currencies of each country, banking institutions usually have limited hours to make transactions even online. This does not happen with Bitcoin, since as it is not controlled by any government institution, it operates 24 hours a day, 365 days a year.

 

Ease of Opening an Account

Unlike as with banking institutions, to have an account with Bitcoin, you do not need any further requirements. In general terms, it is any identity document, selfie photo or video, as well as some personal and security data.

Therefore it is a currency that can be accessed by anyone in the world.

 

When to Invest in Bitcoin?

Everything will depend on your objective. If you have money set up as a compounding vehicle that you won't need to use for some time, there is no better time than another to invest in Bitcoin.

Some experts say that the best time to invest in Bitcoin is five years ago, but you can make regular purchases that add more capital to your investment, as a long-term strategy.

Now, if what you are looking for is to invest to sell in a short time when the value of the cryptocurrency is higher, then it is recommended that you take advantage of a downtrend and then wait, as in fishing.

With this type of investment, if you want to win, you need a lot of peace of mind and patience. Although Bitcoin is one of the most stable, it has shown to have important rises and falls that can generate investor anxiety.

 

 

Between the months of May and July of this year, Bitcoin suffered a significant drop in value that generated all kinds of reactions. However, since that moment it has appreciated in an impressive way in its natural way.

 

How to Invest in Bitcoin

If you have already decided to buy Bitcoin, you can follow the following steps:

1.- Choose a virtual wallet

As with physical money, to protect cryptocurrencies you need a virtual wallet or wallet. However, this is somewhat metaphorical because what these virtual wallets actually store are the public and private keys necessary to access the investment balance.

There are many types of wallets:

Paper Wallets

It is a printed document that contains your passwords. The good thing is that they do not suffer computer attacks, but if you lose your sheet you will also lose all your balance.

 

 

Mobile Wallet

It is software that can be installed on your smartphone and with which you can access your balance and carry out transactions. The risk is that whoever accesses the mobile may have the money.

 

 

Wallet Online

It is a cloud service in which it is the provider who stores the keys. For this it is necessary to ensure the credibility of the service, but there are many very good ones.

 

 

Desktop Wallet

They are programs that are installed on a computer and have the same function as the previous one. It also includes the same risk, since the keys are stored on the hard drive.

Physical Wallet

It is one of the safest, as it requires entering a pin to access the coins. Also, in case it is lost or damaged, the balance can be recovered.

 

 

2.- Open an account on your trusted exchange platform

There are multiple platforms with which you can buy and even keep the Bitcoin balance for as long as you want. One of the most important is Binance, where many types of cryptocurrencies are exchanged.

 

 

On this platform you can acquire Bitcoins or any other cryptocurrency with debit or credit cards, bank transfers or Peer to Peer systems. For this it is necessary to register and verify the account.

Coinbase is another major exchange that is used with the same function, in addition to serving as a wallet. However, this platform is not available in all countries.

 

 3.- Buy the balance you want in Bitcoin

The next action is to buy the balance. So depending on the exchange you have chosen, it is necessary to carry out the odd step.

For example, to buy Bitcoin balance in Binance, once you have verified the account, it is necessary to click on the Buy Crypto option, choose the currency, in this case Bitcoin. Then, enter the amount you want to invest and click buy.

While on Coinbase, you need to click Buy / Sell, select the crypto asset and click Buy Now. For this it is necessary to have added a payment method.

 

4.- Withdraw the balance to your trusted wallet

After buying the desired amount in BTC, to save access in another wallet, such as a physical one, it is necessary to add it to the platform and make a withdrawal. However, if the relevant security processes are carried out, exchanges will be able to secure your balance for as long as you deem appropriate.

 

Conclusion

If you are looking for an investment medium, converting money to Bitcoin is one of the most popular ways to do it today. Knowing the volatility that is common in this type of assets.

It is recommended for those who wish to start on the path of investing in crypto assets. To invest in Bitcoin, the ideal is that you have money that is not needed in the short term to allow it to take value over time.

Having a balance in this currency is having liquidity, almost as much as a regular savings or checking account, because today many businesses receive it as a form of payment.

In addition, transactions can be carried out at any time of the day and its opening requirements are minimal.

To invest in Bitcoin it is necessary to choose a type of wallet, open an account in an exchange, buy the balance you want and make a withdrawal to your wallet.

Although exchange platforms are relatively secure, it is also true that they are frequently the focus of countless cyber attacks.

Well, these are the 4 steps to start investing in Bitcoins. If you already have a wallet, leave a comment with the one of your preference. We would love to know what benefits it has provided you. ;-)