How to buy BITCOIN cryptocurrency

Bitcoin is a digital decentralized currency used to purchase goods and services. Cryptocurrency has its own course, formed from demand. It is not tied to the global banking institution and the country’s economy.

To buy bitcoin, you need to have a crypto or hardware wallet, the latter is safe, since it is impossible to crack it due to the lack of an Internet connection. A wallet is installed on a smartphone or laptop, currency is stored offline. The best cryptocurrency wallet is Ledger Nano S, which supports various types of cryptocurrencies, including Bitcoin. The program is not required to be installed, it can be registered online and, if necessary, withdraw funds to any other wallet, including hardware.

The advantage of Bitcoin is that it is not necessary to buy it in its entirety, but only to purchase a quarter, a hundredth or half. For purchase safety, it is better to use the WELLCOINEX service.

Wallet Replenishment

Having a crypto wallet for storing bitcoin and funds for its purchase, the question begs: where to buy it? You can purchase Bitcoin:

  • Exchange services online. The main advantage of this method is simplicity. You indicate in the special column the amount you want to spend, and in the other you will see the number of bitcoins that can be purchased for it. For the transaction, the exchanger charges a small commission. After the purchase, the currency immediately goes to the specified wallet.
  • Cryptocurrency exchanges. Here you can buy Bitcoin at a favorable rate. Unlike exchange services, on the exchanges you independently choose the most profitable rate for yourself. The purchase lasts longer than in the exchanger. First you need to deposit funds into an open account on the exchange, find a seller and send an order. After its processing, the bitcoins are credited to the account, after which they can be withdrawn to the crypto wallet.
  • The terminals. Having entered the terminal menu, you need to select Bitcoin from the menu and deposit cash, indicating the wallet number. Funds are credited to the account immediately immediately after payment.
  • Other people. To do this, there are special sites with ads that work on the principle of OLH. Having visited the site in a search engine, you need to write the currency that you are going to buy. In our case, Bitcoin. Contact the seller, discuss the nuances of the transaction and after payment you will receive cryptocurrency for the specified wallet.
  • Gift cards. This method is available in Austria, South Korea and Mexico. To receive currency, you need to replenish the card in nominal value, and then enter the sent code on the website and then withdraw bitcoins to your wallet. Sellers get from 3% to 8% commission for this. This method is popular due to its simplicity.

On the Internet, there are specialized services involved in the exchange of fiat currency to Bitcoin. The best of these is WELLCOINEX.

What you need to buy bitcoin

Before you buy bitcoins, you need to register a wallet to store them. The most popular wallets today are: Jaxx, Coinbase and Exodus. Having installed the crypto-wallet program, you will have to go through registration by tying a phone number, email. If the password is stolen, it will not be possible to crack the crypto wallet, since authorization by phone or email number is required to enter it. For authorization, you will need to enter a special code that came to the phone via SMS or electronic. Access to the crypto wallet is restored using a secret word or phrase, which will be randomly generated by the program. The password must be recorded and hidden in a place inaccessible to others. After authorizing the cryptocurrency wallet, you can use its number to receive cryptocurrency.

The tax code of the Russian Federation does not establish a tax on transactions with bitcoins. But it is necessary to pay personal income tax according to the general rules that were established by the Ministry of Finance.

Is it profitable to buy bitcoins

Today, the question of whether it is profitable to buy bitcoins in 2009 worries both beginners and traders who want to significantly increase their profits. Cryptocurrency today is popular all over the planet, its rate depends on demand, the higher it is, the crypto is more expensive.

In 2018, crypto was marked by a significant leap. Bitcoin approached the mark of $ 20,000, but after the futures were launched by the American stock exchange, many investors expected Bitcoin to rise in price. However, this did not happen, the blockchain could not cope with a large influx of users, leading to the inability to conduct transactions in large quantities. Later, the number of unconfirmed orders rose to 220,000. In February 2018, the cryptocurrency rate dropped to $ 6,000. Such a volume of outflow of investments became unacceptable for developers; they had to use batching, which made it possible to combine several transactions simultaneously.

In late February, the value of bitcoin rose to $ 10,000, despite the fluctuations in the exchange rate and negative feedback from experts, the crypto continued to fight for leadership and today remains one of the most popular types of cryptocurrencies.

Some experts predict a decrease in the rate of bitcoin in 2019, but most suggest that its rate will rise to 21 million.

Today, Bitcoin is one of the most promising cryptocurrencies, which makes it interesting for large investors. This situation will subsequently lead to an increase in its rate, so experts recommend buying bitcoins in 2009.

In the hands of users today is more than 16 million 800 BTS, which is rapidly moving the currency closer to the maximum mark. Experts are of the opinion that the number of bitcoin coins in the market will decrease, and demand will rise. This will immediately entail an increase in the rate of the crypt.

Before buying Bitcoin, you need to weigh its pros and cons, which will allow you to better understand the crypt and make the right decision.

Pros

  • The complete lack of intermediaries.
  • The ability to make a deal in any size without limitation.
  • Low commissions.
  • Transactional Transparency.
  • There is no inflation.
  • Security through the blockchain system.

Minuses

  • There is not much Bitcoin in the coin market, therefore, with large transactions, its rate changes.
  • Anonymity. Transactions are carried out through the blockchain, where the personal data of the sender and recipient are hidden, this attracts scammers.
  • Regulation. The problem of bitcoin in excessive government regulation. In some countries, crypt is prohibited.

In conclusion, we can say that there are always risks when buying bitcoin, so before you make a deal, you need to seriously approach the study of crypto. This is due to the fact that the currency is very interesting for scammers. Before buying Bitcoin on an exchange or exchanger, as well as with people, you need to study the information about the seller, as well as read reviews on the Internet.

It is also not recommended to buy currency for last resort. If the Bitcoin rate drops, then you should not sell the crypto at a low cost. As practice shows, some time later, the rate increases, allowing you to increase profits at times.

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