Undeniably, the way people explain it to you might sound a bit chaotic and stressful, but it becomes a piece of cake to capitalize on bitcoin when you perform the entire process step by step. You may visit btcrevolution.io to experience the perfect combination of AI and bitcoin trading. The step permitting you to capitalize on bitcoin involves ing a digital currency exchange or a dedicated bitcoin exchange, purchasing a dedicated e-wallet for storing BTC, and a few other simple tasks. Let’s discuss how you can invest in bitcoin in the simplest way possible.
Become a member of a bitcoin exchange
The primary step in bitcoin investment is to a digital currency exchange. It doesn’t sound straightforward, but you can follow three simple steps to become a member of a bitcoin exchange effortlessly. The first way is to visit your closest local exchange that you find the most convenient, but that’s not the easiest way.
The second way is to quickly create an by logging in to your desired bitcoin exchange and utilizing it. The third way is if you have a smartphone and can’t be bothered to an app, then use only a website of your bitcoin exchange from anywhere. The three methods will help you become a member of a bitcoin exchange in the simplest way possible.
Bitcoin exchange
Bitcoin exchanges are online portals where you can buy, sell and store your bitcoins. They help purchase bitcoins directly, in the fiat currency of your preference. They also allow you to exchange fiat currency into bitcoin or vice versa.
They also help you in selling your bitcoins whenever required. The transaction process is relatively smooth, with transparent records of transactions and log-in details. You can also take a piece of advice from a seasoned bitcoin trader who can guide you through this entire process smoothly. Now that you have ed a digital currency exchange, the next step is purchasing an e-wallet for storing bitcoin.
As you know that once a transaction is done on a bitcoin exchange, the purchased cryptocurrencies are stored in an e-wallet provided by the exchange. It makes the purchased crypto assets vulnerable to hacking and theft.
Get ownership of a dedicated bitcoin wallet
The primary purpose of an e-wallet is to keep your bitcoins safe from all sorts of cyber-attacks and thefts. A dedicated bitcoin wallet is like a digital bank where you can deposit BTC, cash out, or transfer in or out whenever you want. The significant advantage of a dedicated bitcoin wallet is it protects your cryptocurrency assets from hackers, theft, and loss.
Choose either direct bank transfer or credit/ debit card
The investor should choose a payment option for buying bitcoin. The two popular payment options are paying through a direct bank transfer or paying by a credit/ debit card. If the transaction is made through a direct bank transfer, it takes 4-5 minutes for the purchased cryptocurrencies to reach the e-wallet. If the payment is made through a credit/ debit card, it takes 3-4 minutes for your bitcoins to reach your wallet.
Click on the ‘Buy’ button
The trader subsequently chooses the payment method with a click on the buy button to place the bitcoin order. To purchase bitcoin, you must enter the amount of bitcoin you wish to buy with your preferred payment method.
Waiting for confirmation
After clicking on the ‘Buy’ button, the cryptocurrency exchange will redirect to a page showing your transaction data. You will also get a notification by email once your order is completed. Typically, it takes around 10 minutes to confirm the bitcoin transaction and batch it in an unalterable block of transactions, which then gets added to the BTC public ledger known as Blockchain.
Bitcoin prices will fluctuate from time to time, and the market price varies periodically. Therefore, the bitcoin exchange will often report approximate bitcoin values and allow you to buy or sell bitcoins at a rate that matches the current bitcoin exchange rate on that day.
Empty your wallet
Once you have received your bitcoins and confirmed their transfer, you can empty your dedicated e-wallet immediately by sending the BTC to any of your Bitcoin addresses so that it can convert into fiat currency for future investment. Following the step-by-step process to capitalize on bitcoin will help newbies learn more about bitcoin better. Also, the process is made easy and hassle-free with proper guidance.