Cryptocurrencies have been a main subject in all finance discussions around the world and we all know why; a chance for decentralization and a borderless payment system. Far beyond the crypto market’s performance, people see an opportunity to stop depending on unreliable financial institutions and fiat currency, so today we will be giving you the basics on how to invest in Bitcoin.
What is Bitcoin?
Bitcoin is a payment network that works through blockchain technology, allowing people to make financial transactions all across the world with very low fees and quick verification time. Bitcoin was first introduced to the world by “Satoshi Nakamoto” in 2009 after the US Financial Crisis, which made people even more interested in this concept.
All Bitcoin transactions are verifiable as Blockchain works with consensus, so you can basically check the status on every transaction inside the network and confirm its veracity.
Beyond total control over your own money, Bitcoin is also known for its deflationary structure; Every 4 years the Bitcoin production (mining) is reduced in half, making the supply even lower as time goes by. With less supply, demand is higher and with higher demand, comes higher prices. Bitcoin has turned into one of the most popular assets in the world, being compared to gold.
How to invest in Bitcoin?
There are multiple ways in which you can buy Bitcoin regardless of the country you live in. We have made a list for you to take your pick:
Cryptocurrency exchange platforms
This is the easier and most popular way to buy Bitcoin. Choose a trustworthy exchange platform that will have all the tools you need to buy and sell however, whenever you want. Exchange companies like Binance, KuCoin, Coinbase, Kraken, Bybit and Okex are really popular in the crypto market. You can also trade fiat currency for Bitcoin inside some of these platforms in the P2P exchange section.
Credit and debit card payments are also allowed, as well as bank deposits.
Currently there are thousands of Bitcoin ATMs in cities all around the world, which makes it even easier for non-crypto users to reach out, put some cash into the machine and receive the equivalent amount of BTC to a specific wallet address. Bitcoin ATM’s are highly intuitive and will take only a couple of minutes for you to acquire some Satoshis (smallest denomination of Bitcoin).
Multiple payment gateways such as Coingate, BitPay and Skrill that will let you deposit funds with fiat currency (whatever you have) and directly buy Bitcoin with your registered account. These Bitcoin funds can be withdrawn at any time to the Bitcoin wallet address of your choice.
Is it worth investing in Bitcoin?
From a technological point of view, Bitcoin is really one of the safest ways to send value to other people regardless of their geographical location. The fact that all users can verify their transactions live and wait for the necessary block confirmations speaks very well about Bitcoins as a form of value.
From a long term investment perspective, Bitcoin is one of the most desired assets in the world and its market capitalization keeps on growing with every passing year. Among all the digital assets a person can explore, Bitcoin is definitely the most reliable one.