With the onset of 2022, Bitcoin marks twelve years since it gained great success, as well as many well-known enterprises, have added it to their investment portfolios. In addition, preparations are underway for the adoption of this cryptocurrency by the world’s largest e-commerce platform Amazon. Even according to Jack Dorsey, the head of Twitter, Bitcoin is the best candidate for the title of “king of cryptocurrencies” on the scale of the entire Internet. Every investor is now recommended to purchase bitcoins at least to feel from their own experience how profitable it can be.
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Ways to buy and sell Bitcoins
A whole group of methods that allow you to buy a cryptocurrency and earn with it is widely known. The following is the simplest of them, instructions are given for its quick implementation and the beginning of successful earnings.
The simplest method of investing in bitcoin is to work on a cryptocurrency exchange. All crypto exchanges function the same way: they provide users with tools with which they can exchange and buy bitcoins. Almost all of them impose fees on transactions. By registering on the cryptocurrency exchange, users open their accounts and receive digital codes that act as identifiers for purchases, payments, and sales through bitcoins.
More experienced users recommend beginners take a closer look at the choice of crypto exchange: it should be well-known and secure. The two most popular are Binance and Coinbase.
Binance Cryptocurrency Exchange
Brief instructions:
- The first step is registration through the official website of the exchange, and receiving a wallet.
- The second step is to exchange funds in any direction.
- Now the user can officially call himself a crypto investor. Feedback forms and technical support work for those who encounter questions and problems.
Binance is almost the largest cryptocurrency exchange on a global scale. It was founded in 2017 and has the lowest trading rate, equal to one-tenth of a percent. Withdrawing bitcoins from this exchange, the user will face a mandatory fixed fee of five ten-thousandth of a bitcoin. In total, the exchange provides an opportunity to trade more than fifty different cryptocurrencies.
Binance gives access to its software wallet, called “Trust Vallet”, which supports about forty blockchains, and over one hundred and sixty thousand assets. The user does not need to use a trusted wallet. He has the right to freely move his assets to any cryptocurrency wallet of his choice.
The developers also offer to use a convenient application. To trade and buy, any citizen must be verified to confirm their identity.
Coinbase Cryptocurrency Exchange
It is considered one of the largest crypto exchanges that are regulated. Since 2012, users have made transactions on it for over $ 450 billion. It is estimated that forty million people on the Coinbase exchange have a total of more than 90 billion US dollars. In addition to bitcoins, the exchange offers to invest in another two dozen digital currencies that can be freely bought and sold. Fiat is also supported on it: American dollars, pounds, euros, etc.
Users have the right to keep their funds in their exchange wallets by enabling their deferred withdrawal to protect them additionally. The structure of the commission on the exchange differs from the previous option considered. Here a surcharge is charged for the spread, the size of which is about half a percent, and a commission is added for the transfer itself, which depends on what its size is, the source of the inflow of finance. The minimum commission amount is about 2% of the total transfer volume.
The platform is in constant development, he launched a global exchange for trading digital assets to better serve those whose trades involve cryptocurrency in large volumes. This global exchange is better known as “Coinbase Pro”, it offers various trading tools that are intended for the work of a professional trader.
In addition to the standard exchange functions, Coinbase additionally supports offline transfers, which opens up to the user sending funds to another person, and no commission is charged for such transfers.
Forecasts for price changes
According to the report of the Bloomberg agency, which is the leading provider of financial information in the United States of America, bitcoin in value is likely to grow quite significantly in 2022. According to analysts’ expectations, the size of this growth will be approximately one hundred thousand dollars per bitcoin in the short term. At the end of the period under review, the first cryptocurrency in value will approach two hundred and fifty thousand American dollars. It is important to emphasize that these forecasts are made taking into account small corrections by the end of 2021. However, the situation when prices are falling is the best period for investing in cryptocurrencies before their next “ascent”.
What do I need to figure out before buying Bitcoin?
According to cryptocurrency experts, bitcoins are the best of all options if we are talking about a novice investor who wants to start earning real money right away. This digital currency was created in 2009, and since then its value has increased several thousand times. Bitcoin is increasingly being referred to as “digital gold” because investing in this crypto asset is an excellent reliable way to save money in the long term. However, beginners need at least to have a basic understanding of how investments work. With the growth of knowledge about the cryptocurrency market, he will understand it better and better, independently predict volumes and determine ways to invest.