Hi Platinum Crypto Followers,
Bitcoin remains the most valuable asset in the crypto market. Its price is currently at $9930, which is a drop from $12,880 early July. Despite of the downtrend, bitcoin still maintains it s position as the dominant cryptocurrency.
Its trading volume is tremendously above that of altcoins meaning that a lot of people are investing in it. When it comes to buying and selling bitcoin and other cryptocurrencies, there are a lot of factors to consider.
How to buy bitcoin and other cryptocurrencies?
The first thing one needs to do before investing in bitcoin or any cryptocurrency is to open an account with an exchange platform. These platforms are places where one gets to buy and sell bitcoins. One can also exchange bitcoin with other cryptocurrencies using these platforms.
After opening an account, you will need a digital wallet to store your crypto asset. When it comes to purchasing cryptocurrencies, there are many forms of payment methods one can use. However, it is necessary to know which form of payment suits you best. You can choose either of the methods below.
Buying with cash
This is the most appropriate way of purchasing digital currencies. One gets to exchange a specific amount of fiat currency for bitcoins. You can carry out this exchange in exchange organizations or at BTMs (Bitcoin atms) if they are available.
These exchanges have different rates for different pairs of cryptocurrencies and fiat currency. The most paired currencies are the UD Dollar, European Euro and British Pound Sterling among others.
One can choose to use either a credit or debit card to buy bitcoin. In most exchanges, the process is similar to that of buying with cash. This method was adopted by exchanges as a way of making transactions easier and eventually promoting cryptocurrencies
Exchanging with other cryptocurrencies
Most altcoins use this method of payment where you exchange the altcoins for bitcoins. Most of these cryptocurrencies are paired up with each other to facilitate the process. Bitcoin is the most paired coin since it is accepted by many exchanges and investors too. This form of payment works best for altcoins that have not been paired with fiat currency.
Using this mode of payment, one can deposit cash to a bank account belonging to a company that trades bitcoin and get bitcoin in return.
How to buy Bitcoins in bulk
Bitcoin’s popularity is growing with every passing day. More investor are now turning to bitcoin for either investment or protection from economic changes. This has seen a lot of people buying bitcoin in bulk.
You will find bitcoins companies like Coinbase custody, wallet companies, and many others buying bitcoins in bulk. They do this in the Over-The-Counter (OTC). Over the counter trades occur between companies that are not registered in any exchange platform.
Here traders get to post the prices they are willing to sell a bitcoin for investors also post the prices they are willing to pay. The two parties will then agree on a common price and then exchange the assets between themselves. In this OTC market, the different parties have full control over the prices.
Some of the known OTC markets are Genesis, Cumberland Mining, itBit, Coinbase among others.
Best Places to Buy Bitcoin of 2019
Since the introduction of bitcoin there have emerged a lot of bitcoin exchange platforms. Some of the best places to purchase bitcoin in 2019 are;
Coinmama is famous for its effective purchasing of bitcoin using debit and credit cards. One can easily carry out transactions using either a mobile phone or a desktop due to their nicely designed website. As much as the company is still small, they have good security structures that have kept customers assets safe from the time it started operating.
Coinmama has been rank as the site with the best customer support. This is due to their fast delivery after an order is placed: it takes less than 15 minutes.
This peer to peer exchange platform helps people to privately send and receive bitcoin in the best way. It is based in Finland, Europe but has branches in more than 240 countries in the world. When transacting with local bitcoin one can used either credit cards, online wallets, gift card codes or western union.
Storage of bitcoin – online /offline
There are different types of cryptocurrency wallets: there is cold storage, in other words hardware wallets and hot storage (software/ online wallet). The difference between these wallets is that the latter stores crypto assets online while the other stores it offline.
Hardware wallets are considered to be safer than software wallets since they don’t store the assets online where there are hackers. However, the downside to these wallets is that one will lose all their assets in case they get destroyed. There are however some cold wallets that can restore your assets.
One can choose to either store his bitcoins online or offline. With good security, one can choose to store the coins online. Otherwise, offline wallets will do if one is not assured of security from cyber crimes.
Top Bitcoin wallets
Some of the top bitcoin wallets are
- Coinbase wallet: it is considered as the easiest wallet to be used in buying selling and storing of crypto assets. Also, the fact that it stores 98% of the customer’s assets offline makes it safe.
- Ledger Nano: it’s a hardware wallet that in the form of a smart card. All the crypto assets are stored in the smart card making it hard for unauthorized people to access.
- Trezor: It is a USB device which stores ones keys which can only be accessed by plugging it into the computer. The good thing about this wallet is that one can recover their assets in case the device is destroyed or lost.
- Robinhood: like Coinbase, Robinhood is both an exchange and a wallet at the same time. The most interesting thing about this wallet is its free charges for transactions.
- Electrum: it is one of the best desktop wallets used for storing bitcoins. This wallet is known for its super speed.
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