Bitcoin mania took the financial world by storm in 2017. It’s easy to see why: The value of a single coin exceeded $14,000 by the last day of the year. In 2019, it looks to be no different. This cryptocurrency promises to deliver incredible returns on investment, as financial experts are predicting a single coin will be worth an amazing $500,000 by the year 2020!
Given the incredible investment opportunity that bitcoin offers, there’s no doubt that you want to invest in them. However, you may hesitant because you aren’t really sure how to get started. Have no fear! Here’s a handy guide that will teach you how to buy your first cryptocurrency!
Choose a Wallet
In order to buy bitcoin, you’re going to need to get yourself a “wallet”. These digital wallets store bitcoin, just like your traditional wallet stores your traditional money. There are various types of wallets and they vary in regard to different features they offer, they platforms they can be used on, the security they provide, and so on. It’s important to choose the wallet that works best for you.
Once you find the right wallet for you, download it on the proper platform. For beginners, it’s best to choose a simple wallet that you can easily transfer with. Some good options include:
Choose a Bitcoin Trader
The easiest way to buy cryptocurrency without a broker is through an exchange. There are tons of exchanges available; some are highly trustworthy and some aren’t. Make sure you pick an exchange that has a good reputation, offers support, and provides a payment method that you are comfortable with. Remember to check out the fees that the exchange charges for buying bitcoins, too.
Some exchanges that have stellar reputations include:
Set Yourself Up
Once you have a wallet and have chosen an exchange, the next step is getting yourself set up on the exchange. You’ll need to provide some pertinent information, such as your name, your email address, and create a password. You’ll also likely be required to connect your bank account, a credit card, or a PayPal account that you can use to purchase your bitcoins.
As soon as you’re set up, you can start buying your bitcoins! It really is as easy as that! If you want to make 2019 your best financial year yet, start buying cryptocurrency today!