How to Invest in Bitcoin. Though originally unknown to the general public, Bitcoin has recently attracted lots of attention in the financial world over the last few years. With this widespread attention, the process of investing in How can i invest in bitcoin has recently become easier than ever before.
Today, buying and selling BTC is easier for beginners than ever. As your first step, you’ll want to sign up for something called a Bitcoin wallet. Like its name suggests, your wallet is a digital account that makes it fairly easy and convenient to buy, store, and sell your BTC — think of it like a universal Bitcoin checking account. Unlike a checking account, however, starting a Bitcoin wallet usually takes less than a minute, can be done online, and is quite easy. Link your bank account to your wallet. Once you have a wallet, it’s time to fill it with BTC. Usually, you’ll need at least your bank account number, the routing number for the account, and your full name as it appears on the account.
You can almost always find these on your online banking account or on your paper checks. Note that you may also be asked to provide contact information, like a phone number. To be clear, linking your bank account to your Bitcoin wallet is not any more of a risk to your personal security than it is to shop online. Virtually all reputable Bitcoin services make a point to advertise their high standards for security and encryption.
While Bitcoin services have been targeted by hackers in the past, so too have many major online retailers. Buy BTC with money from your bank account. Once you’ve supplied your bank information and it’s been verified by the Bitcoin service, it should be fairly easy to start purchasing BTC and adding it to your wallet. Usually, on your wallet page, there should be an option labeled “Buy Bitcoin” or something similar — clicking this should take you through a straightforward transaction process that uses money from your bank account to purchase BTC.
Because Bitcoin is a relatively new form of currency, its market has yet to become stable. Use your BTC to buy from retailers that accept it. In recent years, an increasing number of businesses have begun to accept BTC as a valid form of payment. Though these businesses still represent a minority, some major names have already made the transition. BTC when its price is low, then purchasing goods when the value of BTC is high to get a favorable deal on the goods.
You can then sell these goods to make a profit or simply keep them. Sell your BTC to another user. Unfortunately, selling BTC isn’t quite as easy as buying it. In general, one of the easiest ways to do this is to sign up with an online Bitcoin marketplace. Once you find a buyer, you will complete the transaction through the website but will otherwise deal directly with him or her. To use this method, you’ll usually have to register a seller account and verify your identity in a process separate from the one used to create your wallet. In addition, some sites like Purse.
BTC to buyers who then use their own money to purchase goods online and send them to the seller — in essence, this is a roundabout way of using BTC to buy from vendors that do not accept the currency. Alternatively, sell your BTC on an exchange. Another option for sellers is to use a Bitcoin exchange. These sites work by pairing sellers with prospective buyers.