Buying bitcoin has never been easier: this is how you do it
Bitcoin is a cryptocurrency (digital and alternative currency that works independently of banks) that was launched in 2009. Bitcoin is popularly called “digital gold”, and it has been perhaps the most attractive investment this decade.
That’s because of an insane increase in value. When the crypto was first launched, the digital coins cost just under 1 kroner. Today, the value is several hundred thousand kroner.
If you had invested 5,000 kroner in 2013, you would have earned around 800,000 kroner at the current exchange rate. Now it is also speculated whether the Bitcoin coins can rise to both 1 and 2 million kroner in the foreseeable future. Maybe no wonder that more and more people choose to invest?
How to invest in Bitcoin?
In the past, and when we talk about Bitcoin’s 6-7 first years of life, it was very difficult to invest in the “digital gold”. In the very beginning phase, the coins had to be extracted through a process called mining .
Mining involves solving algorithmic tasks using computer power, which was and is very time and energy consuming. Mining has also recently been much discussed and debated due to high power consumption. China, for example, has banned all forms of crypto-mining, while both Sweden and Great Britain are now considering regulatory measures to reduce it.
As the coins were mined, one could trade directly from people who were in possession of the cryptocurrency. But even this was time consuming, and not least costly.
The time it took to transfer the digital coins from wallet to wallet could take up to several days. In addition, they were charged high transaction fees, and had to get in touch with people who owned the coins. This was usually done via various internet forums and other social networks.
Today, fortunately, it is significantly easier to buy Bitcoin .
You can easily buy on a trading platform
As Bitcoin, and other cryptocurrencies in general , are among the most popular investment objects today, most trading platforms have crypto in their range.
A trading platform is a digital platform where you can buy and sell financial assets, such as stocks, commodities, forex, mutual funds and cryptocurrencies. You can actually look at it as a digital marketplace, where all trades are completed immediately. As soon as you click “buy”, you are in possession of the valuable cryptocurrency.
On a trading platform, you can also use various tools and functions for, among other things, analysis. It is also important to emphasize that the vast majority of platforms are regulated, which means that they are under the supervision of various Ministry of Finance. This means that it is safe to invest.[etoro]
Choose a reliable player and create an account
First and foremost, you need to find a platform. Note that there are several players where not all are equally reliable. We then recommend doing thorough research and assessing the range of investment objects, features, and of course the fees.
Fees are a critical point. For example, if you pay a lot in brokerage , you risk losing large parts of the winnings. The less you pay in fees, the more money you are left with.
Once you have found your preferred platform, just create an account. As a rule, it is free and it is also not very time consuming. Once your account is created and you are verified, you will need to make a deposit. The deposit is made quickly and easily, and once it is completed you can finally start the investment!
Do you want further information? Then we recommend reading the article Buy Bitcoin. Here you will find everything that deals with how to buy, and what is the best place to buy from. The article also addresses what makes Bitcoin unique and why it is an exciting investment.