$8000 and above is still a very decent price for bitcoin and not one to be overlooked. After a dream rise late last year the popular cryptocurrency took a dip by almost 70% but currently it is still doing well.
What is it about cryptocurrencies that are fascinating the public and the industry? The price is proof enough that this cryptocurrency and many more to follow are here to stay despite being looked down by the likes of Warren Buffet.
Sadly, though people are still very confused on how to buy and sell these cryptos. It is not possible to step into a bank or any other financial institute and flash your fiat currency and buy bitcoin. Usually, bitcoins are mined but that requires a lot of server power, money and time.
How to buy bitcoins
But you don’t have to become a bitcoin miner that is for the more serious investor with bigger stakes. Here are a few ways you can get your hands around the enticing bitcoin and its siblings like the Ethereum and Litecoin.
- The online marketplace is an easily accessible place to buy cryptos especially bitcoin from other users directly.
- Then there are bitcoin ATMs that sell bitcoin. These ATMs are similar to the regular ATMs and you can use fiat currency to buy bitcoins. Currently, there are over 2393 bitcoin ATMs in the US.
- But probably the best and the safest for a beginner is to use any of the several digital cryptocurrency exchanges or brokers across the nation
But before you buy your bitcoin you must have a wallet to keep your bitcoins.
This is not a physical wallet in which you can store anything. It is basically a set of public and private keys that safeguard your investment. The most convenient wallets are the online and mobile wallets which are cloud-based systems. Hardware wallets are supposed to be the safest but then they are also expensive.
Trading in bitcoin
It is not necessary for you to have actual bitcoins to trade in them. You can get an automated trading system like the Crypto VIP Club to make a foray into cryptocurrency trading. Ok, so you have heard a lot about the scams in the crypto world and are wondering, “Is it a scam?” That is the right thing to do – the question before you proceed; do not invest in any system till you ascertain its authenticity. Visit the United States Securities and Exchanges website to know more about the regulations on these systems.