Bitcoins, or the world of CryptoCurrency, are a hot favourite for people these days. Every other person at present wishes to be investing in this booming market. Also, there are reasons enough why one should invest in these newly developing digital currencies. People who are doing so with tips, tricks and with great minds are earning well out of it. So, now, if you are also trying to plan the same thing, then there are some very important basic procedures that you should know, such as purchasing or buying Bitcoins.
On the upper grounds, yes, this looks very easy and smooth, but if one wishes to earn good profits out of Bitcoins, then the user should be purchasing them wisely by following the right sources and procedures. Here, in the guide, as per the demand of the topic, we will see the ways in which people will be able to purchase Bitcoins for themselves in the right manner.
The Bitcoin Wallet-
Do you carry cash, your cards and ID cards and everything? Where do you keep them? In your wallet for sure. Similarly, digital cash such as Bitcoin also needs to be kept in a wallet. The wallet will also be digital, just like your Bitcoins are digital. One can keep them in the wallet until one goes on using them for some purchase. Well, for purchasing a digital wallet for your digital cash, you will have to visit certain websites and will have to strike a deal there to get a digital wallet for Bitcoins to keep them safe.
Various digital wallets come with various features, so every wallet has a different security setup and comes with a different type of compatibility. Most of the websites work for this based on a form. You will have to fill up some forms with your personal details, and you will then get the wallet.
Go to a well-known Bitcoin seller– After purchasing the Bitcoin wallet, the next thing you have to do is look around you for a trusted Bitcoin seller. You can go up to a good CryptoCurrency exchange, and from there, you can buy as many Bitcoins as you wish. Other than going to the exchange, you can also take help from the Bitcoin Prime app or website, and you can make your purchase from there.
Payment Method – Now, here comes the main part, where mostly those who are new to the world of Crypto are seen as stuck. They are often confused as to what is the mode through which they need to pay. It is true that you are buying Bitcoins which is a virtual currency but still, for its purchase, you need to pay from your real cash.
You can pay for Bitcoins by the following methods-
- Bank Transfer
- Credit Card Transaction
- If in case you are making the purchase through your Bitcoin Prime site, then there you will have to link either your bank details or your credit card details with it. Only then you will be able to make the purchase.
The real purchase process– Once you are done with all the above steps, the next thing you need to do is start with the real Bitcoin purchase procedure.
The real Bitcoin purchase process goes as follows-
- Log in to your exchange account
- Next, you should go to the trading page of the website
- Then, as you see the buy field there, please enter the amount of money you are willing to invest.
- Depending on the amount you enter, the exchange will next inform you how many Bitcoins you can buy.
Place them in your wallet safely- Once you have completed the process of buying Bitcoins, the next thing to do is to keep those purchased coins in your wallet. In most cases, they are automatically transferred to your wallet. But if in case you have got an off-exchange wallet, you will be asked if you wish to transfer your coins to the wallet or not. From the prompt, you will have to choose your answer accordingly.
The best and most reliable Bitcoin purchase process-
Well, there are so many sources, including different Crypto exchanges, from which you can buy Bitcoins. But, still, the most reliable, safe and secure way turns out to buy it through the Bitcoin prime site. It is the most trusted name in the Crypto market right now. There is nothing more reliable than this. The process for doing it has already been discussed in the content above in easy and simple language.
Things to remember-
In this whole procedure, there are still certain things which you need to remember, such as if you went to exchange for buying a wallet there, the procedure would be lengthy.
You will have to sign up for a trading account. For that, you will have to fill up a form for the verification of your identity. In some cases, the customers are also asked for a live video for security purposes.
So, if you wish to save your time, energy and everything, then a better option for you would be to conduct a wallet set up away from the exchange. The process can also be time-consuming as the exchange website runs slowly because of excessive digital trading.
Even after reading the guide, you will realize that the whole process for the purchase of Bitcoins is not tough or tricky, but still, as there is a huge risk involved, detailed explanations are always a better option to take.
If you were stuck unable to understand the very first step of your Crypto investment, which is the purchase of Bitcoin, then here this guide is there for your rescue. Everything is explained here well in detail. So, reading it carefully is really going to be very helpful for you in many ways. All the important informational pieces have been added here. Nothing has been left behind. If understood properly, Crypto is not as complicated as it appears to be at the beginning point.