Step by Step Guide to Bitcoin Investing
Well, as with almost every other thing in life -if not all-, you have to buy it before you can invest in it. Investing in Bitcoin can be very challenging, and that is if you don’t have the step laid down before you.
First you need to know that Bitcoin is a type of cryptocurrency, one of the very first digital currencies, that was invented, designed and developed by Satoshi Nakamoto, and it was released to the public in 2009.
And from then, updates as well as improvements have been made by a network of very experienced developers and the platform has been partially funded by the Bitcoin Foundation.
As bitcoin has become a hot topic of interest and a lot of people are investing in it, there is no harm if you too get some digital wealth. Interesting to note, back in 2012, Bitcoin firms were only able to raise $2.2 Million.
Despite the price decline this year, the cryptocurrency continues to experience growth in both users and merchants that accept it as payment.
So how can you be part of the action? Investing in Bitcoin for the average Joe can be simple is he just outrightly buys some.
Buying it today has been made simple, with many firms in the Unites States and all over involved in the buying and selling business.
For US investors, the easiest solution is Coin Base, which is a company that sells BTC to people at a markup that is usually around 1% over the current market price.
If you want traditional exchange, Bit Stamp may be a better option because users you will not only be trading with the company, but with users.
The company only acts as a middleman. Liquidity is higher and you can almost always find another person to take the other side of your trade.
The fees start at 0.5% and go all the way down to 0.2% if you have traded over $150,000 in the past 30 days. All these are already in their own ways, investments mediums, because the more you purchase BTC, the more profit you will be accumulating if you choose to store it or resell it to other traditional buyers at a higher price than the one you bought with the real companies.
You can also buy bitcoins another way other from exchanging. One of the most popular routes for so offline is the Local Bitcoins, which is a website that pairs you up with potential buyers and sellers. When buying, the coins are locked from the seller in the escrow, from where it can be released only to buyers.
But buying bitcoins offline should be done with some extra precautions, which are always usual, as you would when meeting a stranger. Meet during the daytime at a public place and if possible, bring a friend.
Bitcoin is about the hottest thing online right now. Investors and venture capital firms bet that it is here to stay. For the average Joe, many ways exist to get into investing and buying of Bitcoin.
In the US, the most popular avenues are Coin Base, Bit Stamp and Local Bitcoins. Each has their advantages and disadvantages, so do your research to find the best fit for you.
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