Learning how to invest in Bitcoin can seem scary, but it shouldn’t be. With prices going up, you might be thinking now is the best time to buy cryptocurrencies. And where better to start than with the king of them all – Bitcoin.
It is no surprise that billions of investors love Bitcoin – it is a secure and global digital currency with so much to offer. It is open to everyone and provides exciting opportunities to those that wish to delve into the fresh world of cryptocurrency.
However, if you are a beginner, knowing where to go can be daunting and often confusing. With the plethora of exchanges available, it is important to know which ones are the most trusted and offer the best rates.
Why invest in Bitcoin?
There are many reasons you may want to invest in Bitcoin, but people are often attracted to the growing price. Cryptocurrencies are volatile, so you should always be aware that prices will fluctuate. However, if you want a long-term investment, history has proven that Bitcoin might be a worthwhile cause.
Bitcoin is also a pioneer in terms of payments. It allows for fast, cheap, and global transactions for all. It is also decentralised, meaning no government is behind it. This also means that third parties are not needed, which makes payments quicker and cheaper. Bitcoin is also becoming more and more mainstream in terms of who accepts it as a payment option. From travel to retail and even real estate, using Bitcoin as a payment option is becoming more popular.
Finally, if you are interested in becoming a long-term trader, Bitcoin is a great asset to add to your portfolio. Investments can be tricky to manage at the best of times due to market volatility, so this makes diversity key when trading or investing. Adding Bitcoin alongside other cryptocurrencies to your portfolio may just give you a better chance of making profits. In theory, investing in more than one cryptocurrency will help to minimise risks in the event that one coin suddenly plummets.
How to invest in Bitcoin
You can invest in Bitcoin in a number of ways. The most common is through exchanges and P2P platforms. Here are some of the most trusted places where you can invest in Bitcoin.
Binance is one of the most trusted and well-known exchanges available in the space. The Hong Kong-based online platform is an industry leader in terms of trading volume and user count. If you are looking for an exchange that offers multiple trading pairs, then this may be the one for you. The exchange offers over 300 pairs to trade with and also caters to retail investors wanting to invest in smaller projects.
This is another exchange that allows you to invest in Bitcoin through Visa debit and credit card payments. Coinmama has been around since 2013 and is a popular choice for those wanting to invest in Bitcoin. It is very safe and reliable, and is popular due to its beginner-friendly interface. It may have some of the highest fees among other exchanges for credit card payments, but it is available in most countries.
Coinbase is great for beginners as it is incredibly easy to use and is the cheapest exchange around. Coinbase supports over 32 different countries and multiple cryptocurrencies. It offers GBP, USD, and EUR deposit and withdrawal features as well as an internal wallet.
Now you know how to invest in Bitcoin and whether it is the right decision for you. Bitcoin is and probably will always be one of the most popular cryptocurrencies, and with this, many will invest in this diverse digital asset. So, is it time you invested?