Investing in Bitcoin attracts many people. Many of them do not want to be engaged in mining and prefer to buy cryptocurrency with traditional money. Is it difficult? Not necessarily, and on top of that, there are many ways to do this.
Probably the fastest solution is to use the services of a cryptocurrency exchange office. However, it should be borne in mind that exchange offices also want to earn money and charge a large commission for their services. Are you ready to pay it right from the start?
You can also buy tokens in stationary exchange offices. However, it should be borne in mind that in most of them the offer will be very limited and will mainly include Bitcoin. In addition, the odds will not be very favorable.
Another solution is to use a cryptocurrency exchange. Their operation is not too complicated. It can be compared to a virtual market, where traders list offers at different prices. Those who want to quickly get rid of the goods offer a low price. Other cases include people who, hoping for a price increase in the future, offer to sell for a higher rate. Some customers will choose the cheapest offer, others may hold off waiting for a real opportunity, If there is an agreement between the customer and the seller, then it is time to conclude a transaction.
How do cryptocurrency exchanges make money?
Exchanges charge a certain amount as a commission on transactions. It is required from both sides. However, in the collection of commissions, makeers are preferred, while Takers have to pay a little more. A maker is a person who creates their own offer. Someone who agrees to the offer and undertakes to make a transaction is called Taker.
Since exchanges want as many offers as possible, regular trading will be more profitable when issuing their own offers.
How to buy cryptocurrencies on the exchange?
To acquire the first cryptocurrency, you must confirm your identity with the help of an appropriate document. Then you need to prepare a payment or credit card with the right amount of funds on your account. Most platforms accept Visa and Mastercard.
This is a kind of cryptocurrency exchange office where you can both buy and sell cryptocurrencies. Their offer usually includes Bitcoin and several other popular cryptocurrencies. To use Bitomat, you must have your own cryptocurrency wallet.
Buying Bitcoin is not too complicated. You should enter the wallet address, put the cash in Bitomat, choose the size of the commission and accept the terms. After the purchase, you will receive a receipt and a Bitcoin transfer to your wallet.
What are the conclusions?
Buying cryptocurrencies is not too complicated. In addition, many people have a grudge against themselves that they did not decide to buy cryptocurrency early enough. Despite this, investing Bitcoin is still very risky. It is worth realizing that keeping savings in traditional currency also involves some risk, because rising inflation will effectively reduce the value of saved funds.