How to Buy Bitcoin Instantly.
Investing in Bitcoin is a stepping stone for most cryptocurrency investors. It’s easy to buy, and even stock brokerages like Robinhood support the asset. The cryptocurrency industry is full of opportunities, and Bitcoin’s just the tip of the iceberg.
Bitcoin was the 1st notable use of a blockchain. Blockchains are decentralized networks of computers, making it impossible for one single entity to control. This way, Bitcoin can have a maximum supply that nobody can manipulate.
Luckily, it’s extremely easy to buy Bitcoin. Before doing so, BNB follow these steps to choose the best investment option for you.
Even if you already have an account with Robinhood, it’s a good idea to use a cryptocurrency
exchange to buy your Bitcoin. You can’t send or receive cryptocurrencies on Robinhood, so it greatly limits how you can store your crypto as well as what you can do with it. Some great options for U.S investors are Coinbase, Gemini and eToro.
If you’re also interested in investing in altcoins, btc you should do some research to find out which cryptocurrencies are supported by which platforms. Coinbase supports over 50 cryptos, while Gemini only offers 33.
Another important factor you should consider before choosing a Bitcoin
exchange are fees. Coinbase has a 1.5% transaction fee, which is comparable to most other exchanges. However, Coinbase also has a conversion feature that allows you to convert your cryptocurrencies for free.
Once you’ve chosen the best cryptocurrency exchange for you, you’ll need to make an account. Usually all you need to register for an account is an email address and password, but you may need to verify your identity before you can buy Bitcoin.
Common documentation you may need to provide includes your Social Security number, birthday, driver’s license and home address.
If you’re looking to buy your Bitcoin as fast as possible, then you should place a market order. Most exchanges use market orders by default, but some may use limit orders. Market orders purchase bitcoin for you instantly at market price, and limit orders only execute at a specified price.
Once you have Bitcoin, you need to keep it safe. It’s not recommended to store your bitcoin on an exchange, as exchanges are large targets for cryptocurrency hackers. Instead, you should use a software or hardware wallet to keep your crypto safe.
Software wallets are computer programs that securely store your cryptocurrencies. They’re generally free to use, crypto and there are hundreds of options on the market. Hardware wallets are the safest way to store Bitcoin, as it keeps them on a physical device offline.