Buying Bitcoins

What Are the Steps Needed to Be Followed for Buying Bitcoins?

When it comes to investing your money in bitcoin, then it seems a highly complex task, but if you break down the whole process in simple steps, then it becomes a lot easier.

The method of buying bitcoin has now become so much easy that any person who has some basic knowledge of computers and mobile phones can make the purchase of bitcoin with utmost ease.

The best thing is that the incredible growth of bitcoin has also led to the increase in the legitimacy of the bitcoin exchange platform. Well, there are some simple steps that you can follow for buying bitcoins. Have a look at the points mentioned below to know about them in brief.

Pick up a bitcoin wallet

1. Before you purchase bitcoins, you need to buy the bitcoin wallet first. The bitcoin wallet is the thing that acts as a storage center for the bitcoins where you can store your holding safely and securely.

There are so many types of bitcoin wallets available in the market, so you can choose the one that fits right according to your needs and requirements.

2. If you are an everyday user of bitcoin, it is best for you to use online services. For the people who trade the bitcoin on bitcoin profit, they can make use of the mobile wallets to manage the bitcoins conveniently.

Select a bitcoin exchange

1. Now the next step which you have to follow after picking up the bitcoin wallet you need to register yourself with the fiat to the bitcoin exchange platform.

This means that you need to choose a platform that accepts the fiat money you have, and in exchange, they offer you the bitcoins.

2. You need to make sure that the bitcoin exchange that you are choosing for buying the bitcoin is secure or not.

Since bitcoin popularity has been increased to a great extent so deciding, on the proper bitcoin exchange has become so difficult for beginners. You should consider some essential factors before you select a bitcoin exchange platform.

Get yourself registered

1. When you are done with finding the best bitcoin exchange platform for yourself, then it is time for you when you have to get yourself registered on it.

You need to make sure that you are registering yourself along with making the whole security-related checks. The details and the process of the registration will vary from one platform to the other platform.

2. But in general, the only thing you are required to do is go on the homepage of the bitcoin exchange and click on the button of register.

When you enter your email address on it and set up a password, then the business will provide you the confirmation email. After getting the email and clicking on the link, you will be taken o the dashboard page of the new account on the bitcoin exchange.

Fill in the security checks

1. When you are taken to the dashboard screen, then you will see that there are some more steps that you have to follow for completing the process before you buy the bitcoins. These steps of these security checks will be different from one bitcoin exchange to the other.

2. Some of the reputed bitcoin exchanges also ask you for your mobile number in order to set up the two-factor authentication. This helps in preventing any other person who tries to access your account.

Add on the payment methods

1. After this step, you will have to add up the bank account, credit card, or debit card for making the first purchase of the bitcoin on the bitcoin exchanges.

2. If you are buying a large amount of bitcoin, then it is essential for you to add a bank account because this will make the transaction fees lower.

Buy bitcoins

1. The final step that you have to follow after making the deposit on the bitcoin exchange is that you have to buy the bitcoins. The cash which is stored in your bitcoin exchange wallet will help you in buying the bitcoins.

2. You can click on the buy the bitcoin button and select the number of bitcoins that you want to buy. Once you agree to the transaction cost, then you can click n confirm the transaction, and the bitcoin will be credited to your bitcoin wallet.




 

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