How can i buy Bitcoin?
In this article we shall discuss the few simple steps on how to buy bitcoin.
Bitcoin was invented in 2008. Since invention of bitcoin, there have been several other cryptocurrencies invented. However, Bitcoin has remained the most widely recognized and used cryptocurrency.
Cryptocurrency is an asset, just like other assets. People trade and invest in Bitcoin by buying and storing it in other to sell when it appreciates in value. Buying bitcoin is a very simple task. In this article, we shall describe briefly how to buy and preserve my bitcoin.
Steps to buy Bitcoin
To buy bitcoin, one simply need to first and foremost create a bitcoin wallet. Just like wallet and purse is used to hold one’s money, bitcoin wallet is an online wallet used to hold and secure one’s money.
When created , the owner is given a secure wallet ID, which is meant to be kept secret. It is just like a key to one’s money. If carelessly disclosed, access will be gained to one’s wallet.
So to buy bitcoin, one needs to do the following:
- create a bitcoin wallet
- have the money you intend to use to buy the bitcoin
- Through your master credit card, purchase the amount of bitcoin you want
- store it carefully in your Secure wallet.
- Secure your wallet.
- Follow the bitcoin price movement if you intend to sell when the price rises.
It has been discovered that 80% of the people that buy bitcoin do so in other to sell when the price goes up.
TYPES OF BITCOIN TRADING
There are different types of bitcoin trading. Some of them include;
- Day trading: In this type of trading, the concern of the trader is based on the anticipated short term movement and then the trade is closed at the end of the trading day.
- Swing trading: The trader here holds onto the position until the trend ends or shows sign of reversal.