As soon as you learn about cryptocurrency, get interested, and put up with the risks, the next logical step is buying crypto. If the decision aligns with your financial priorities and current investing ability.
Before actually going all in, you should know that Bitcoin has its share of volatility. Nevertheless, the well established coins such as Bitcoin and Ethereum show a tendency of increasing its value over time. There are thousands of other crypto coins and they can also fluctuate every hour. Buying Bitcoin is probably one of the most exemplary processes of cryptocurrency purchasing so this article will dwell on it from start to end.
Take These Steps to Buy Bitcoin Safely
Getting started will only need you to take a few steps.
- Choose a reliable exchange.
Banks and investing companies still are out of the game so one can only buy Bitcoin with credit card or other accounts through an exchange. Still, the future holds a possibility for many organisations to adopt this.
Find a crypto trading platform that allows changing your fiat currency to crypto such as Bitcoin, Ethereum, and other digital currencies. The contemporary market offers hundreds of exchange places. Some popular ones include Kraken, Gemini, Coinbase, and Switchere. The latter is a secure and trusted place to buy Bitcoins with credit card no verification and low fees or sell it to earn profit. The platform works as an app for iOS and Adroid too and lets users buy Bitcoin with high accuracy in the price and any payment method.
In your choice, also try to look at the number of available coins and security: the website has to protect clients with two-factor authentication, SSL encryption, etc., like the mentioned service does.
- Fund an account at this exchange.
For making an account you will need to provide some personal information such as ID, passport data, income source documents, and after you get approved, connect this account to your credit or debit card. Next, you are ready to send USD or EUR to your crypto exchange account.Make an order to buy BTC with credit card.
- Make an order to buy BTC with credit card.
Credit card payments are getting much cheaper these days at exchanges. What you need to differentiate at these platforms is the two main types of orders: market and limit orders. With a market order, one can buy Bitcoins with debit card at the price it has in the market at the moment. A limit order will let you stick to a specific price you’re ready to pay for the coin. As soon as the coin hits this level, the exchange will get it for you automatically.
- Store Bitcoin safely
Storage for Bitcoin plays a big role. It’s best to secure virtual money in a cryptocurrency wallet. Since all wallets of this kind have different levels of security, with cold wallets generally being considered safer than hot (online) ones. Watch out for exchanges such as Venmo that do not allow users to send cryptocurrency to other storage devices.
It doesn’t really take a lot of time to buy BTC at an exchange but be careful to pick a worthy one — the exchange you could go back to again and again and find comfortable conversion conditions. At Switchere.com, for example, clients buy Bitcoins with credit card no verification and anonymously, with very little personal data being shared
Listing these easy steps is all you need to buy BTC with debit card!
Is Bitcoin Still a Good Idea for Investment or Should I Buy Altcoins Instead?
With a simple mechanism of buying Bitcoin, it still makes perfect sense to research the coin and understand why you need it. Most investors nowadays buy a share of BTC just to diversify their crypto portfolios and keep the coin long to make a good profit. However, don’t expect revenues instantly since right now Bitcoin is a more ‘mature’ coin which is likely to fluctuate at approximately the same level rather than grow in value unprecedentedly, as it did in 2021.