Bitcoin is a peer to peer, decentralized, the digital currency which is designed for users to make online transaction anonymously. In simpler words, it’s a virtual currency which was created by a group of unknown programmers in 2009.
During this short period of time, bitcoin has accumulated worldwide recognition as well as contention as an alternative to USD and Euros.
Journey Towards Popularity:
Bitcoin first came into circulation in 2009. The currency didn’t gain much attention in world business during the first couple of years. The first it gained recognition was the year 2011-12 when it grew over 300%. The next year also proved to be quite fruitful as the currency saw more than 400% growth in its value.
Due to its incredible rise, the investors and venture capital around the world invested $57 million in the first quarter, followed by an investment of $73 million in second quarter.
A Guideline to Invest in Bitcoins:
The simplest way to invest in bitcoin is to shop for bitcoins. There are numerous established firms in the US and around the globe that are involved in trading bitcoins. These firms are abbreviated as BTC.
Coinbase and BitStamp are two of the top players of the game.
Coinbase is the “go-to” place to trade coins if you live in the US. The Coinbase provides its clients with bitcoins at an estimated markup of 1% over the existing market price. It also gives you the option to sync your bitcoin wallets and bank accounts; which ultimately reduces the trouble factor in your future payment transfers.
Another unique option that Coinbase offers to its users is “auto-buy”. For example, if a user buys $100 in bitcoins at the start of each month, the company will him an option to set up an “auto-buy” for that amount.
Here you can learn more about how to buy bitcoin through Coinbase.
Bitstamp acts as an intermediary between users. This means that users can trade with each other but not the company itself. At BitStamp, the liquidity is higher and there is always a good chance to find a trading partner.
Local Bitcoins - An Alternative Way to Purchase Bitcoins:
If you are having troubles exchanging bitcoins online, Local Bitcoins is a good option to buy them offline. However, offline buying is not always considered to be safe. To be on the safe side at the time of a transaction, it is often suggested to have a meet up with the seller at a public place and let a friend/family member tag along for protection in case things turn ugly.
The Final Word:
There are numerous ways to take a dive into Bitcoin investment. Coinsbase, BitStamp, and Local Bitcoins are few to name. The most important thing to remember here is to do your homework and take your time before entering the sphere of bitcoin investment and you will be fine.
Find out what our experts have to stay about how to make a Bitcoin investment.