If you want to be a crypto investor, you can start by choosing the safe haven bitcoin. Many people are starting with bitcoin to secure their business and work things out in the first place. If you want to be a bitcoin investor and haven't decided where to start, this article is for you! Today, we will examine with you how to buy bitcoin and what to watch out for.
How to Buy Bitcoin (BTC)?
In 2008, a cryptocurrency called bitcoin was announced by a person or group named Satoshi Nakamoto. At first, bitcoin and other cryptocurrencies were not very popular, but nowadays almost everyone has started to become a crypto money investor. Especially recently, Turkey has come to the fore as the country with the highest number of crypto money investors among European countries.
Although the leading cryptocurrency bitcoin declines from time to time, we see that it basically tends to rise. Therefore, it is possible to talk about a reliable chart for new investors. However, buying bitcoin is also extremely simple.
You can mine or turn to cryptocurrency exchanges to get Bitcoin. Preferring cryptocurrency exchanges at the first stage will allow you to take more accurate and confident steps.
How to Buy Bitcoin with Cryptocurrency Exchanges?
For the best cryptocurrency exchanges, you can choose world-famous companies such as Binance, Coinbase, Kraken. For example, let's take Binance, which has the highest number of members and stands out for its reliability. To buy bitcoin on Binance, you can follow these steps:
- Create an account with Binance website or mobile app,
- C. verify your membership with your ID card (your information is stored in encrypted storages)
- Transfer money to your Binance account (you can set an amount between 1 TL – 500.000 TL)
- Buy Bitcoin, which ranks high among cryptocurrencies, with the amount you specify.
If you are new to Bitcoin trading and using Binance, you can switch to Binance Lite and trade with an easy and simple interface. You are now a bitcoin investor!
Where to Buy Bitcoin
Bitcoin is bought on cryptocurrency exchanges. It also supports Ethereum, Litecoin, Ripple, etc. Coins are cryptocurrencies just like Bitcoin. However, NEO, CHZ, LINK, DOT etc. There are also altcoins. Altcoins can simply be called alternative coins. Today, more than 6000 altcoin types can be bought and sold.
What are the Advantages of Bitcoin Trading?
Cryptocurrency exchanges have ups and downs just like other types of exchanges. While some cryptocurrencies rise from time to time, some units may also decrease in the same period. Bitcoin is the most advantageous coin in these situations.
The advantages of Bitcoin and other cryptocurrencies can be briefly explained as follows:
- Decentralized and transparent cryptocurrencies are not under the control of any government or bank,
- It is possible to invest with 10 TL as well as hundreds of thousands of dollars.
- Bitcoin and other cryptocurrencies can be traded 7/24, while traditional exchanges allow transactions on certain days and times of the week.
- In terms of international money transfer, bitcoin is much more advantageous in terms of commission and time,
- You can create an account with simple transactions and start investing in bitcoin.
Warnings About Bitcoin!
Bitcoin buying and selling is one of the investment tools with a lot of profit when managed with the right steps. However, sudden decisions and wrong analyzes can also cause you to lose all your money. However, not using the right cryptocurrency exchange will lead to bad consequences such as fraud. You can learn about exchanges and their uses by examining the content of the best bitcoin sites on the BuldumZ site.
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Choosing the right exchange provides you with lower commission fees, simple use and 7/24 secure trading. In these exchanges, your information is stored in cold storage and it is impossible for third parties to access it.