The drastic growth of cryptocurrencies is attracting more investors to the market hoping to earn more profits. However, beginners are highly confused about how to safely invest in bitcoins. This article will help beginners with this.
Quick steps to invest in bitcoin
Bitcoin investment is not a tedious task. Here are some of the quick steps that help you to purchase bitcoins using a reliable platform.
- Open an account with the platform you chose – Go to the homepage of the platform to get the sign-up option.
- Deposit – You have to deposit a certain amount (at least $10) into your account on the trading platform. You can use your bank account, credit/debit card, or e-wallet for this.
- Find bitcoins – There will be a search bar on your platform where you can search for bitcoins. Then click the Trade option.
- Invest – Now you can enter the amount you want to invest in BTC. Before giving the Open Trade option, make sure that all the options given are right.
Where can you make your investment in Bitcoins?
Here are some of the popular platforms that will help you to invest in Bitcoins.
eToro exchange is a popular platform that has a high reputation in bitcoin investment. There are more than 23 million users that extend in more than 100 countries worldwide. There are no transaction fees for opening or closing a trade. eToro follows a spread-based structure which is quoted at just 0.75% for trading bitcoins. Also, there are no monthly account fees or deposit charges, which makes trading highly cost-effective.
Binance is considered to be the largest crypto exchange in the world. The trading volume of Binance crosses $22.6bn in just 24 hours. The extensive asset collection is one notable feature that differentiates Binance from its competitors. This crypto exchange allows you to trade various crypto assets including ERC-20 tokens and altcoins.
Is Bitcoin investment worth it?
Several experts believe that bitcoins will compete with gold shortly. Therefore, there are chances for Bitcoin to maintain its price value in the future also. Most investors find bitcoins to be a great opportunity for investors to store their capital and also to maintain their power over their assets.
If you analyze the chart of bitcoin price, you can find it to be offering great returns. This is how investors make use of this aspect of bitcoins. People who are good at making profits through risk can confidently choose bitcoins for investment.
Bitcoin is also a good option for those who are planning to diversify their portfolio. If the price of your other assets falls, the bitcoin price may balance your portfolio and avoid the chances of losses. Thus several investors are considering bitcoins to eliminate their losses. Therefore, by buying bitcoins, investors can improve their returns as well as diversify their portfolios to avoid losses. If you are smart enough to make use of the fluctuations in the crypto market, you can surely earn profits from bitcoin investment.