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Three ways to enter the bitcoin gold rush
The cryptocurrency named Bitcoin is sweeping the national news with stories of fortune and fame. The days of Bitcoin being a synonym for dark net drug deals and shady hacking are over. Average people and millionaire investors are turning away from typical investment vehicles such as stocks and bonds and are now entering the Bitcoin market. Considering that so far in the past two years the price of one bitcoin has increased by XYZ, who can blame them? Here are three ways you too can invest in Bitcoin.
Buying Bitcoin through this way is rather straight forward and simple. Another person has bitcoin, you have cash, and you both want to swap. The actual transaction can be as simple as meeting a seller in your local city or depositing cash into the sellers bank account at a local branch. Websites like localbitcoins.com and paxful.com are two of the biggest websites that facilitates and escrows these transactions. This method is easy, but you must, and I say again, MUST choose a seller that is proven to be reputable and has a large history of successful trades. With this method being from person to person, there are always the chance of being scammed. But with good due diligence, your chance of being scammed are very low. Another thing to look out for are the rates. Normally there is a mark up that sellers add onto the sale to make a little profit. Please be aware of this too and always compare sellers.
2. Use a reputable exchange
With the price of Bitcoin changing and popularity increasing every day, exchanges are increasingly becoming a popular and safe way to buy bitcoin. The simplicity of being able to buy bitcoin with a credit card or debit card are something that investors and everyday users have been looking forward to since bitcoin was invented. Websites such as coinbase.com and coinmama.com are great ways to be sure not to get scammed. One thing to remember about exchanges is that you need to send in a photo of you ID for anti fraud reasons. Once you are verified, Bitcoin is one click away from being in your wallet.
3. Trading platform
I only recommend this method of buying bitcoin if you want to seriously trade this asset on a day to day basis. If you only want to simply buy and sell please refer to the above methods. Websites like kraken.com are pushing the envelope on Bitcoin becoming a fully traded asset just like stocks. The ability to make limit and market sells, stake positions, and have the knowledge stream to make informed decisions are all included on Bitcoin trading platforms. With small fees, and great security, these trading platforms are corner stones of the Bitcoin world.
The Bitcoin wave is riding high as ever, and with no clear end in sight, now is the time to enter the Bitcoin universe if you have been hesitant before. With these three methods buying and selling bitcoins have never been easier. With the push of a button you can enter this new investment and hopefully, hopefully, make some cash. Thank you for reading!