Looking for the best way to buy and invest in bitcoin? You’re in the right place.
Bitcoin was created in 2009 by an undisclosed programmer. The currency has since garnered lots of attention and controversy as an alternative to USD, Euros, as well as silver and gold.
The Rise of Bitcoin to Popularity
Before the year 2009, bitcoin had not gotten much attention in business and finance. It became prominent during the 2011 to 2012 period when its value increased by over 300%. This increase made venture capital firms and investors pay attention to cryptocurrency.
Within the first six months of 2014, venture capital firms invested a total of $130 million in bitcoin. This investment encouraged many to consider investing in bitcoin. So, how can you buy and invest in bitcoin?
The easiest way to invest in bitcoin is to purchase bitcoins. There are many firms (in the US and abroad) that buy and sell bitcoin.
Some of these firms include the following:
<< Read: Should You Invest In Bitcoin? >>
If you reside in the United States and want to invest in bitcoin, Coinbase is the platform you need. Coinbase provides its users with about 1% of the existing market price. Those living in the US can connect their Coinbase wallets to their bank accounts. Thus, they can easily make future payments. The company also provides the option of automatically purchasing bitcoin every time. For example, if you want to buy $40 in bitcoin at the beginning of every month, you can use Coinbase to set up an auto-buy for the amount.
Ensure you pay attention to the terms and conditions before using Coinbase. If you have opted for an auto bitcoin service, you will not be able to control the price of bitcoin that you buy every month. With Coinbase, you can buy and sell bitcoin directly. You may encounter delays when placing orders since the platform has to get the coins from other members.
BitStamp meets the requirements of a conventional bitcoin exchange platform. Bitcoin acts as an intermediary that enables you to trade with other members on the platform and not the company. In this case, the liquidity is higher and you can easily find someone that wants to trade with you.
You can also invest in bitcoin apart from exchanging. Local Bitcoins is usually used to purchase bitcoin offline. The site is designed to connect buyers and sellers. The bitcoins are locked from the seller in an escrow system and can only be released to the buyers after the buyer has confirmed that he or she has received the bitcoins.
Purchasing bitcoins offline is not always safe or reliable. It is, therefore, preferable to meet in the daytime and ensure a friend goes along with you to ensure your safety.
Bitcoin goes beyond being just a modern trend. Venture capital firms consider the digital asset to be a good substituent for fiat currency. There are many ways that you can use to invest in bitcoin. As stated in this article, the most popular channels through which you can invest in bitcoin are Coinbase, BitStamp, and Local Bitcoins. Carry out your research to find out the one that suits you.