Bitcoin is the first cryptocurrency and has become the gold standard for crypto transactions. It is widely accepted as a legit form of secure OTC payment option
Bitcoin is currently trading at an exceptionally low price due to the macroeconomic condition
If you are willing to enter the world of cryptocurrencies, there would be no better time than today
Be interested in learning more about Bitcoin and whether you should invest in it or avoid it completely. This is a short go-through guide for crypto newbies that will explain the reasons that make Bitcoin a great investment option.
In this CoinGabbar guide, we will also teach you a step-by-step method to buy Bitcoin and other cryptocurrencies. If you are someone who would love to know more about Bitcoin investment, read this guide till the end.
If you are still wondering whether you should invest in Bitcoin or not, here are some of the reasons that make Bitcoin a great investment option. Knowing them will compel you to make your first Bitcoin investment.
Bitcoin is the first cryptocurrency and has become the gold standard for crypto transactions. It is widely accepted as a legit form of secure OTC payment option
Bitcoin has been an exceptional investment option and has given over 500% of returns in the last bull runs
Bitcoin has a limited supply and this makes it a rare asset to get your hands on
Bitcoin is based on cryptographic blockchain technology that makes it impossible to be stolen if you take good care of your private keys
Bitcoin is currently trading at an exceptionally low price due to the macroeconomic conditions, this could be the best time to make your first Bitcoin investments
Now that you have your reasons to invest in Bitcoin, here is a step-by-step guide that will teach you how to buy your first Bitcoin on a centralized exchange. We are choosing the example of a centralized exchange not because they are the best but because it is the easiest way for you to enter the world of cryptocurrencies.
Choose a centralized cryptocurrency exchange that you can trust. Some of the top exchanges are Binance, CoinDCX, Coinbase, Kraken, and LBank.
Open the website of your exchange and sign up with your credentials
Once you have created your account, you will have to complete a verification process known as KYC (Know Your Customers)
Share the requested documents to get your KYC done
Once your KYC is completed, you can add funds to your exchange account via traditional payment options such as credit cards & bank transfers
After adding the funds, choose Bitcoin and enter the sum of money that you want to exchange with Bitcoin
Once the transactions would be settled by the exchange, you will have Bitcoin in your exchange wallet
Most of the centralized exchanges are trusted by large communities but the recent market incidents signify the role of decentralized exchanges. CoinGabbar advises users to move their funds to their cold wallets after buying them from a centralized exchange.
Bitcoin is one such cryptocurrency that is trusted by all in the crypto world. It is the largest cryptocurrency by market capitalization and acts as a hedge for riskier crypto investments. Present market conditions and low liquidity in cryptocurrencies make it a great time for new investments. Thus, if you are willing to enter the world of cryptocurrencies, there would be no better time than today!
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