Introduction
Now, who does not want to invest in Cryptocurrency? Bitcoin has been one of the most popular digital currencies to many users worldwide. Many users are, in fact, in search of the best investment platform for safe Bitcoin buying. But if you are new to the world of digital assets, you must first understand the currency before you buy or sell the same on a crypto exchange platform. So let’s begin.
What Is Bitcoin?
Bitcoin is a popular decentralized digital currency that any central bank or government does not administer. The Bitcoin transactions are verified through cryptography under blockchain technology, where the currency can be sent by one user to another on the bitcoin network without the involvement of any third-party firm.
Bitcoin was first introduced in 2009 as a reward for the mining process. Many countries do not favor legally regulating the currency as it has been criticized for its utilization in unauthorized transactions. However, many countries are still considering Bitcoin as a safe investment portfolio as the market is highly volatile.
History of Bitcoin
A pseudonymous individual named Satoshi Nakamoto presented the concept of Bitcoin to the world on Oct. 31, 2008, in the midst of the financial crisis.
“Bitcoin P2P e-cash document,” Nakamoto said in a posting to a cryptography email list. A link to a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was included. Both of these are still available for purchase on the internet.
Nakamoto outlined the notion of Bitcoin as decentralized, digital money in these writings. When the first block, known as the genesis block, was mined on Jan. 3, 2009, the blockchain was officially started. You can check here for the latest Bitcoin news and updates.
Best Ways to Buy Bitcoin
Bitcoins may be purchased in a variety of ways.
The good news is that you now have various alternatives if you want to trade Bitcoin.
- PayPal
PayPal makes it very simple to purchase and sell bitcoins straight using the same software you’ve come to rely on for your online payments. For trades worth less than $25, you’ll pay $0.50; after that, PayPal utilizes a sliding commission structure that starts at 2.30 percent for sales worth more than $25 and drops to 1.50 percent for trades.
- Coinbase
Coinbase is a cryptocurrency exchange that allows you to buy and sell digital currencies directly. You’ll be able to trade a wide range of popular cryptocurrencies.
- App for trading
Using a trading program, you can pick up a few bitcoins without paying a direct fee, but you’ll make up for it with a spread markup. You’ll be able to buy bitcoins directly, as well as other digital currencies.
- Interactive Brokers
You’ll be able to buy Bitcoin futures contracts as well as trade the coin directly through Interactive Brokers. The firm costs $10.02 for a futures contract with a five-bitcoin exposure. You’ll pay a competitive fee of 0.12-0.18 percent of your deal value if you trade Bitcoin directly.
- ATM for Bitcoins
Another alternative is to buy bitcoins straight from a Bitcoin ATM; however, commissions are likely to be significantly higher than elsewhere. You’ll be able to purchase bitcoins and, in certain cases, sell them using cash or a debit card at ATMs.
Best Places to Buy Bitcoin in 2022
You may acquire Bitcoin on a bitcoin exchange in exchange for other assets, such as traditional cash or other digital currencies. The following are some of the top sites to visit:
- Coinbase
- eToro
- Robinhood
- CoinMama
- BlockFi
- Bisq
Experts View on Bitcoin
Bitcoin price prediction by market experts predicts that Bitcoin will surpass $100,000 by the end of 2023. The procedure for purchasing bitcoin is significantly more involved than purchasing a traditional share of stock. The four phases of the bitcoin buying process are selecting a service or venue for the purchase, connecting with a payment method, submitting an order, and guaranteeing secure storage for your obtained cryptocurrency.
Each of these processes necessitates study and a thorough examination of the benefits and drawbacks of each service. All of this is based on professional advice.
Bitcoin Price Prediction for Upcoming Years!
Some analysts believe that this objective might be met as early as the first quarter of 2022. Others are still hesitant to pick a precise date or year, predicting that Bitcoin will not reach $70,000 by the end of 2022.
Conclusion
Bitcoin is a famous cryptocurrency that stores and protects your digital assets via a massive network of interconnected computers. Bitcoin is a highly volatile asset with significant and rapid price fluctuations, offering large profits and considerable risk. Before making any judgments, you must first discover how to invest wisely in Bitcoin. To protect yourself against market volatility, diversify your investment portfolio.