How to buy Bitcoin

In an article for American Forbes, author Mark Hausen said that if you are considering investing in Bitcoin, you should know that there is no guarantee that you will see huge returns or breakeven points.

The UK’s Financial Conduct Authority – known as the Financial Conduct Authority – has repeatedly warned cryptocurrency buyers to be prepared to lose their entire investment.

If you’re aware of the risks facing the industry and still want to buy Bitcoin, here’s how to do it with a credit card, says the author.

How to buy Bitcoin

The author points out that to buy Bitcoin, you need to exchange it for some currency, and if you want to pay with Bitcoin, you need to turn to cryptocurrency exchanges that accept currency exchange, such as: Coinbase and Binance.

Also, according to the author, you should choose an exchange with a Bitcoin wallet so you don’t have to register a wallet with another exchange, if you want to keep your cryptocurrency outside of the wallet of your choice, make sure they allow withdrawals, and you should know how much they charge (if any) .

If you plan to buy Bitcoin with a credit card, double-check to see if the exchange accepts the brand of the company your credit card belongs to.

Credit card payment method

Once you register an account with a cryptocurrency exchange, you will need to add funds to it, and some exchanges charge fees for certain payment methods. For example, Coinbase does not charge any fees to fund your account via bank transfer, but does charge a fee of 3.99% when using a credit card.

Also note that when you buy Bitcoin with a credit card, your card issuer treats it as a cash advance, so you will not only have to pay the exchange fee but also the interest rate. You may be charged interest from the moment you purchase, whether or not you pay the balance at a later time.

The author noted that while some credit cards are uncommon, some credit cards charge 0% on cash advances. However, it is not recommended to buy Bitcoin with a credit card because if you buy Bitcoin with a credit card, you should try to pay off your balance as soon as possible to reduce the interest that will be charged to you.

Apply to buy

On the platform you are using, go to the Bitcoin option, and enter the amount you want to invest, if you invest $30,000, you will buy Bitcoin, if the price of one Bitcoin is equal to $30,000 and you invest $100,000, you own 3.33% of the Bitcoin.

Rise Store Your Coins Safely

If you want to and the exchange allows you to do so, you can store your Bitcoins in your own built-in wallet on the exchange or in a wallet provided by a third party.
However, if you keep your Bitcoins in a hot wallet (i.e. online), you can use a cold wallet instead; This is an offline storage device.
Keep in mind that there may be fees for withdrawing Bitcoins from exchanges, and if you choose to use a cold wallet, you need to be safe from forgetting your access token or else you risk losing your belongings.

How to sell your Bitcoin

The author points out that you can sell your Bitcoins through a cryptocurrency exchange at any time, or when a certain price is reached. After the sale, you can transfer the money back to your bank account, but in some cases you will have to wait a few days to withdraw it.

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