Cryptocurrencies have been around since a long time now but the amount of awareness that people have regarding them is dismal. Cryptocurrencies were perhaps ahead of their time in 2008 and that is why people simply couldn’t catch on.
The 2020 financial crisis has proven to be the first litmus test for crypto currencies and they seem to be doing pretty well so far. Although the crypto market has been very volatile but they have held their value very well and this has resulted in a steady rise in demand for cryto currencies as investors are now realizing that crypto may be the next safe haven after gold.
So let us now look at ways through which you can purchase bitcoin stock .
Firstly it must be understood that bitcoins are a crypto currency, they exist in the digital sphere and thus have no physical form. However bitcoins are still perfectly valid as a medium of exchange and therefore even in their digital form they need a place where you can store them for your personal use therefore before you can actually purchase bitcoins, you will need to have a digital wallet where you can store you r bitcoins.
Yes a digital wallet is needed to store bitcoins. You keep your cash in your wallet so why wouldn’t there be a digital wallet to store your bitcoins? Makes perfect sense.
You can get a digital wallet on any site like Coinbase. Digital wallets by the way come in different forms so you can get an online wallet on Coinbase but if you intend to trade in bitcoins more frequently and want to become an investor then perhaps you should go for a hard digital wallet, or an offline digital wallet. Basically the type of digital wallet that you should choose depends on your level of activity. If you are a beginner then an online digital wallet made on a site like Coin Bulb will do.
Once you have got a wallet you will need money to actually purchase bitcoins. Bitcoins can be purchased through credit or debit cards or through cash. The mode of purchase depends on your choice. If you are going to purchase bitcoins through a credit card or even a bank transfer then you will need to have a bank account and a card.
People who prefer not to leave a money trail for their bitcoins prefer to purchase bitcoins through cash whereas if you are not really worried about being tracked by the government for your bitcoin usage then you can use bank transfer or cards, this is what the majority of people use. The card fees can be an extra cost but this is one of the fastest ways to purchase bitcoins.
Next you will need to decide where you want to buy bitcoins from. You can purchase bitcoins from
· Bitcoin exchange
· Peer to peer networks
A bitcoin exchange is a virtual forex market where currencies can be exchanged for bitcoins. It must be remembered that bitcoins works just like any normal fiat currency. So when you can purchase any currency from a foreign exchange market in a similar manner you can purchase bitcoins from a dedicated bitcoin exchange.
There are plenty of bitcoin exchanges that are available right now and CoinBase is the oldest and most trustworthy one, followed by CoinMama and Binance. You can do your own search to find out more bitcoin stock exchanges.
You will have to get registered on a bitcoin exchange before you can purchase any bitcoin. The process of registration will require your identity verification due to government regulations and this process may take 24 to 48 hours. Once your account has been verified you can log on and purchase bitcoins.
The process of purchasing bitcoins should be a smooth one. You will simply need to choose how much you want to purchase and then add your card or bank details and your wallet keys to carry out the purchase. Upon successful purchase your bitcoins should get transferred into your wallet in a matter of minutes.
There are also a lot of P2P networks where people can purchase bitcoins from. In fact majority of the purchase happens through the P2P networks as there are lesser regulations involved with P2P networks as compared to bitcoin exchanges.
These P2P exchanges such as Local Bitcoins allow users to post offers or requests to sell and buy bitcoins. In this manner buyers and sellers can create a local market place to sell and purchase bitcoins easily.
If you are looking for a more discreet manner of purchasing bitcoins then you should look for Bitcoin atms. These are dedicated atm`s that are present across the world and people intending to purchase bitcoin can simply go to the atm and use cash to purchase bitcoins. At no point will your identity be required and therefore this method works for users who do not want to get tracked for any reason.
Bitcoins can be purchased using any of the above mentioned methods. Once you make your first purchase you will realize just how easy it is to purchase bitcoins. It goes on to show that just a little awareness is all that is required to make crypto currencies a more mainstream form of payment.
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RISK WARNING: Trading may not be suitable for all investors because it is possible to lose all of your invested capital. You should never invest money that you cannot afford to lose. Before trading in the complex financial products, please ensure to understand the risks involved.
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