3 Easy Ways to Buy Bitcoin

A few years ago Bitcoin seemed quite a niche financial product, where only people who really knew what they were doing could get involved. That has changed recently and now more people are starting to become interested in Cryptocurrency and wondering how to buy Bitcoin. The great news for those that do wish to dabble in digital currency is that getting your hands on some (in the virtual sense at least) doesn’t need to be a struggle. One of the best things about the likes of Bitcoin becoming more mainstream is that buying, selling and trading it has become much more accessible to everyone.

Use a Website or App

There are so many different apps and websites out there, that if you do decide to go down this route you’ll be spoilt for choice. The best thing you can do is read up on which ones are accessible in your country and which ones have the best reviews and then look at what option you like the sound of. The thing to remember is that each platform will have its own trading fee as well as a possible withdrawal fee; so ensure that you are comparing these and considering all of your options before you decide which route to go down. Some people even opt to sign up to more than one platform as then they can opt to do their purchase on whichever one is offering the best terms at the time. It is possible to send Bitcoin to yourself on another platform but it is worth keeping in mind that there may be a fee to do so, so make sure you weigh up whether that is something worth doing or not.

Personal Buying and Selling

Rather than buying or selling through a trading platform, you could sign up to a P2P platform such as Binance and buy or sell directly from/to another person. You can usually use whatever currency or method you want and you get peace of mind that Binance (which is also the name of a Cryptocurrency) can act as a middleman for the transaction which helps to keep everyone safe. You’ll occasionally see adverts for personal Bitcoin sales on places such as Gumtree and Facebook Marketplace. It is generally recommended to stay away from these because you run a risk of sending someone money and then not sending you any Bitcoin and you don’t have the backup of a platform such as Binance to help smooth out any issues.

Work with a Financial Investor

Much like traditional stocks and shares, there will be brokers that will be happy to do your deals for you. The chances are you’ll pay a commission, but it will generally be their job to make sure that any investments you make are wise and likely to go up rather than down. This can be a great way of investing some money into Bitcoin without having to invest any time in making it happen.

Much like any financial investment of this nature, you should keep in mind that the value of Bitcoin can go down as well as up. Although there are lots of success stories being told in mainstream media there will have been plenty of people that haven’t had any success. Before you look to buy Bitcoin, always do your research and make sure that it is the best financial decision for you. If you do decide that digital currency is the investment that you want to make then consider the above methods and which one you think is going to best suit your circumstances. There’s plenty of information out there about investing in Bitcoin so with a little research making an informed decision should not be too tough.

Author: 360naija