Check Out This Detailed, Comprehensive Bitcoin Buying Mini Guide

With the increasing popularity of Bitcoins, the concept of Bitcoin investments has started to gain the attention of millions of enthusiast financial investors. If you consider yourself one of them, this informative article will walk you through some important that you need to follow to start your training journey in Bitcoin. Read on to know further.

Step one: Begin with choosing the right crypto exchange platform: Whether you are doing start stockbroking or you are investing in cryptocurrency, choosing the right trading platform plays a significant role. There are several crypto platforms that are going to lure you with their exclusive deals and discounts, but when it comes to making an investment, you have to be wise and select the best amongst them all.

Some of the popular crypto platform options that you have at the present time include Binance, Coinbase, Bitcoin Era, and Gemini. There are many other crypto platforms, but when you have to make a decision regarding this, you must assist them on the parameters like:

• Completion of KYC process
• Identity verification and validation
• Easy and convenient user interface
• Reliable customer support
• Convenient Payment methodology

An important point that you must always remember when choosing a crypto trading platform is to check the fees associated with it. This may vary from one crypto trading platform to another, and hence when you are making a comparative analysis of these, make sure that you take this factor also into account.

Read my post on the best p2p exchanges

Step 2: Account creation and verification- Once you have decided to stick to a particular crypto exchange platform, your next step should be to register yourself. The process of registration may vary but includes some common aspects like your name, email ID, contact details, and identification proof. You cannot proceed with trading without submitting the verification proof.

Step 3: Cash deposition– After you have successfully registered your account, the next step is to add funds to it. You can deposit cash using bank transfer, credit card or debit card, or the most convenient payment types, i.e., e-wallets. Again, this option may vary from one trading platform to another, and hence you must check this feature when you are shortlisting the trading platforms.

An important point to note here is that if you are making a purchase using your credit card, then you make sure to be charged a higher fee as compared to making a payment via debit card or bank transfer. Hence you must also enquire about this aspect before registering.

Step 4: Place an order for cryptocurrency- Now that you have registered yourself successfully, your next move should be to start purchasing the cryptocurrencies. While Bitcoin remains a popular choice, you must also explore options like Ethereum, dodge coin, and others. People are also investing in stable coins.

Step 5: Choosing the right storage place– To save yourself from any type of loss in Bitcoin investment, you must always have a crypto wallet attached to the exchange. Many crypto exchange platforms offer theme facility of wallet as well, so you can check that option, and in case you are not satisfied with these, you can choose the separate hot or cold wallet. You may have to pay a certain fee for this, but this again will vary based on the crypto exchange platform that you choose. As mentioned above, the 2 common options that you have is:

• Hot wallet
• Cold wallet

Conclusion

Whenever planning to invest in cryptocurrencies, it is highly advised that you do proper market research to make wise decisions in Bitcoin investment. Happy and safe investing!

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