How To Invest In Bitcoin? Making Your First Purchase To Keeping Your Bitcoins Safe

Bitcoin was the first cryptocurrency and everything after are called altcoins, an alternative to bitcoin. So it makes sense that many people new to crypto would want to invest in Bitcoin. There are only a few safe ways to achieve this and that is with a crypto exchange. You should never trust a third party to secure or even hold your Bitcoin/s. This would be a huge mistake on your part.

Before buying any crypto you must have a good crypto wallet to store those Bitcoins, you should not leave them sitting in an exchange. So before setting up a crypto exchange account you must understand the concept of a crypto wallet.

Once you have secured a crypto wallet, copied the secret/pass keys and understand how to send from one wallet to another, now is the time to set up your account on a Crypto Exchange.

Setting Up A Crypto Exchange Account

Anyone can set up an account with a crypto exchange, an exchange is where those Bitcoins are waiting for you to buy. Be sure to use your correct name, D.O.B and mobile/cell number. This information will be used to secure your account if anything happens.

Continue through with their identification process known as KYC (know your customer). Once you have got confirmation your account has passed their KYC targets then you are good to go and purchase your Bitcoin.

Purchasing/Investing In Bitcoin

Now is the time to make your purchase, you can use Paypal, Credit Cards or a bank account, but double-check with the crypto exchange you are using. Select the amount of Bitcoin you want to purchase, remember you can buy 0.1% of a Bitcoin and you could continue doing this week in, week out, or just buy the maximum amount you require at once. Here is an article explaining the best time to invest in certain crypto.

Fees When Buying Bitcoin

There will be a small fee, generally around the 3% mark, but this will vary from exchange to exchange. It does pay to shop around, but be sure you are using a real crypto exchange and not a copy that will take your money and not deliver any Bitcoin. Here are some exchanges you should use when purchasing Bitcoin:

• Binance
• Coinbase
• eToro

These three are the best when it comes to Bitcoin, they have been selling, swapping and buying crypto for many years. They have varying amounts of Bitcoin similar to a shop stocking any product, so you will be buying their Bitcoins.

Once you have made your purchase, received confirmation and you can see those Bitcoins sitting in your exchange wallet. Now you must transfer your Bitcoin to your crypto wallet. Simply find the long address for your Bitcoin wallet and withdraw from the exchange using that address. If you get this wrong or send your Bitcoin to another crypto wallet then you will lose those Bitcoins.

Research Before You Buy

If you have never before used an exchange or a crypto wallet then you should research until you are comfortable enough transferring crypto from one place to the next. There are hundreds of videos that will guide you through the process one step and a time. We have used Brian Jungs video that explains all:

Conclusion – Bitcoin Investing

Buying any amount of Bitcoin is a tidy investment option, the No1 crypto is set to explode in the next few years so be sure to start collecting, even if it’s just a small 1,2,3% at a time each week/month. We all have to start somewhere, just think of it as a savings club that will mature over time. Once you have mastered crypto transferring, purchasing and understand the basics you can move onto the next Crypto of your choosing, good luck.

Need Help Buying Bitcoin?

Here at Crypto Enabler, we thrive on helping our readers achieve their goals, if you need help or advice then use the comment section and we will advise accordingly. But always be sure you are using a real crypto exchange and that you are not using a broker or a third party to buy and store those Bitcoins!