Beginners Guide to Investing in Bitcoin

You have been cut off from civilization if you haven’t heard about Bitcoin by now. The leading cryptocurrency has been the rave of the investment world over the past few years, and it has gone beyond just the financial realm. So whatever it is you do, or wherever you are, you must have heard about Bitcoin at one point or another.

Bitcoin serves as both a currency and an investment vehicle. We will talk about the latter and how you can start your investment journey with this cryptocurrency.

What you need to invest in Bitcoin

The simplicity of Bitcoin is one of its most attractive features. It is a global currency that anyone in the world can use and invest in. All you need to do is have two basic requirements which are;

A wallet and a platform to purchase Bitcoin are essential because you can’t invest in the cryptocurrency if you don’t buy them somewhere (except an indirect investment), or have a secure place to store them. You can purchase Bitcoin from exchanges like Binance, Coinbase, Luno, Bithumb, LocalBitcoin, and more. You can buy Bitcoin using fiat currencies with the help of your credit card, debit card, or other transaction methods accepted by the crypto trading platforms. There are tons of wallets available that you can store your Bitcoin after buying them from the exchanges.

Once you purchase Bitcoin from a crypto exchange, ensure to transfer them to a Bitcoin wallet. Storing your Bitcoin on a wallet is much safer as exchanges are susceptible to cyber-attacks. Unlike the traditional banks, you are responsible for ensuring the security of your Bitcoin reserve, by keeping your wallet details safe.

Why you should invest in Bitcoin now

Bitcoin remains one of the most profitable investment vehicles currently available in the world. For instance, Bitcoin is up by over 145% since the start of the year despite the grim year it had in 2018. It is a passive investment vehicle that would earn you money without you doing much other than following the market trends and know when to buy and sell.

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