In the initial days, buying bitcoin appeared to be complicated. However, over time, the search for crypto exchange platforms made it easier for people to register themself and start trading in cryptocurrencies of their interest. For more detail log on to bigmoneyrush.io.
However, if you plan to invest but are sceptical about it, this detailed, informative article will help you understand the easy ways of buying bitcoin. You must also know about certain terms that will be actively used when you are buying or selling cryptocurrencies.
1. Trading platform- This is a platform where one can explore the different cryptocurrencies, register themselves and start trading. There are more than 600 crypto exchanges.
2. Crypto wallets- The next important thing that you should know is the crypto wallet. These act as a storehouse for crypto assets. You can use it for buying and selling cryptocurrencies.
Buying Bitcoin
There are several avenues that lets you buy and sell bitcoin. So if you want to know how to invest in bitcoin, the following steps will help you understand the same.
Begin with choosing a trading platform and register yourself- the first step to begin with crypto investment is to choose the right trading platform for investment. As we have shared above, more than 500 crypto platforms are operating in the market.
However, when registration comes, you should decide only after looking at its core features. The platform should be easy to use, offer all payment modes, be secure, and offer good customer support service.
While addressing all these points, you must also consider these platforms’ transaction fees. Initially, some platforms may offer you a lesson fee or free-of-cost transaction, but you may have to pay a large amount in the long run.
To save yourself from falling prey to scam websites, you should check out the policies of this platform. Most importantly, you should also check the customer support service to make an informed decision. Since that, for many people, crypto trading would be a new concept, and a customer support service will be an added advantage.
There are two types of exchanges:
1. Centralised crypto exchange
2. Decentralisedcrypto exchange
Once you have paid all the information like name, address, email ID and phone number, you will be sent a verification code to verify your identity on the trading platform. After successful registration, you can look at the dashboard and explore the cryptocurrencies available.
In addition to this method, one can buy bitcoin through a bitcoin ATM and PayPal. The next segment of this blog will help you understand what is buying and selling methods.
Buying Bitcoin with PayPal -When the concept of bitcoin was introduced, there were not many supporters of this concept. The payment method was also limited. However, over a period of time, big payment gateways like PayPal have started accepting payment via bitcoin. When it comes to buying Bitcoins, you can use PayPal. Many crypto exchanges also present the option of buying cryptocurrencies via PayPal. However, when using this method of purchasing bitcoin, you must know that it comes with a certain fee.
If you are already a user of PayPal, you have to add this account to your crypto exchange and start purchasing. Read on to learn more about the associated fees in PayPal.
Fees associated with PayPal
| Purchase Amount | PayPal Fee |
| $1-$24.99 | .50 % |
| $25-$100 | 2.30 % |
| $100.01-$200 | 2% |
| $200.01-$1000 | 1.8% |
| $1000.01 and above | 1.50% |
Buying Bitcoin with a credit card
You can also buy bitcoin using a credit card. Most crypto exchanges have the facility of purchasing bitcoin using a credit card. However, similar to PayPal, one must pay fees for purchaspurchasing credit card. This female varies anywhere between 1% to 3% of the total purchase price. Hence it is advised that one must run through the different fees charged by the crypto exchange platform before registering.
Conclusion
This was a brief discussion on the purchase of bitcoin via different mediums. If you are planning to enter the crypto market, you can refer to this guide and start trading in cryptocurrencies. Log on to https://bitcoins-digital.com and start trading in the cryptocurrency today.