Originally intended as a marketing gimmick, bitcoins are now a full-fledged currency supported by many companies and many people also spend their time trading bitcoins. Many people buy and sell bitcoin to make a profit, and many businesses use it as a payment option to make payments more versatile and easier for customers. The protection provided by blockchain technology and the level of complete anonymity is one of the main reasons why Bitcoin transactions have become so popular.

Some of the key benefits of using Bitcoins in the current market are discussed below:

No inflation

One of the main problems with regular currencies and their preservation is that the market is prone to inflation from time to time. buy and sell usdt in nigeria However, bitcoins have no risk of inflation as there is no currency limit and thus there is no risk of a decrease in users’ purchasing power. Therefore, even with unlimited currency generation, there is no risk of inflation and this is one of the best reasons why bitcoins can be stored.

Less cheating

Unlike credit and debit cards, which share a customer’s financial and personal information with merchants, bitcoins can be transacted without this risk. Buying or selling bitcoins does not require you to provide any personal information, protecting you from financial fraud and risks. Also, since it is digital cash with no hackable footprint, there is almost no chance of bitcoin hacking, preventing any kind of targeted data breach.

User friendliness

One of the biggest issues with international transactions when it comes to regular currency is the exchange rate and that each country has its own currency making the whole process difficult and quite cumbersome. But when it comes to bitcoins, people can easily make any kind of international transactions without exchanging currencies at the local bank and finding the exchange rate. All that needs to be done is to use the memory card and bitcoin account to easily transfer a certain amount of bitcoin to someone else’s account.

Less fees and fast transactions

Normal currency transaction can take a lot of time especially when it is done with credit cards due to many reasons used by bank or card. But when it comes to bitcoins, the transactions are carried out within 24 to 48 hours since the whole process is done through the digital process and without much obstacles. Also, bitcoin transaction fees are much lower than regular card or bank transactions, making them a very viable option for small or medium-sized businesses.

Safe and no third party

The entire Bitcoin ecosystem is quite safe and secure, which means that there are almost no security issues in the transactions. Every bitcoin transaction is authenticated by a digital signature and then sent to the blockchain, so it can be said that the whole process is safe and clean. Also, the entire process is handled end-to-end without intermediaries, saving on fees, tax claims, etc.

Easy Ways to Buy Bitcoin and Invest in Bitcoin

What is Bitcoin?

Bitcoin is a peer-to-peer decentralized digital currency system designed to enable online users to transact via digital units of exchange known as bitcoins. In other words, it’s a virtual currency.

The Bitcoin system was created in 2009 by one or more unknown programmers. Since then, Bitcoin has garnered significant attention and controversy as an alternative to the US dollar, euro, and commodity currencies like gold and silver.

Rise To Popularity

Bitcoin hadn’t garnered much attention in the business and financial world before 2009. It gained momentum in 2011-2012 when it grew by over 300%. Bitcoin has seen a 400% gain in value since August of last year. As a result, venture capital firms and investors around the world continue to attach importance to cryptocurrency.

In the first half of 2014, venture capital firms invested $57 million in Bitcoin in the first quarter, followed by another $73 million in the second quarter, for a total of $130 million, which is 50% more than the total previous year of 88 million US dollars. This is in complete contrast to the scenario in 2012 when bitcoin companies amassed a relatively meager sum of $2.2 million.

These stats prove beyond a doubt that Bitcoin is worth your investment, which begs the question, how can you buy and invest in Bitcoin?

A Guide for Beginners in Bitcoin

The easiest and most straightforward way to invest in bitcoin is to buy bitcoins. There are many established companies, mainly in the US and abroad, that deal in buying and selling Bitcoins, abbreviated as BTC.

Coin base

If you live in the US, then Coinbase is the place you are looking for. Coinbase is offering BTC to its customers at an estimated 1% premium over the existing market price. United States residents have the option to sync their Coinbase wallets with their bank accounts. As a result, future payment transfers will go through smoothly. This company also offers you the option to automatically buy bitcoins from time to time. For example, if you want to buy $50 worth of bitcoins at the beginning of each month, you can use Coinbase to set up an automatic purchase for that amount.

Check out the Terms and Conditions before you start using this service. If you are subscribed to an automated bitcoin service, you cannot control the price at which the BTC are bought each month. Note that Coinbase does not act as a bitcoin exchange, meaning you buy and sell the coins directly from the company. Because the company has to source the coins from other buyers, there may be delays or disruptions in order placements when the market moves quickly.

BitStamp

BitStamp meets the requirements of a traditional Bitcoin exchange. Bitcoin acts as an intermediary , allowing you to trade with other users rather than the company itself. Liquidity is higher here and you always have a good chance of finding someone willing to trade with you. There is an initial fee of 0.5%, which can be reduced to 0.2% if you trade $150,000 in a 30-day period.

Alternative ways to buy Bitcoins

Local bitcoins

Exchange isn’t the only way to invest in Bitcoins. Local Bitcoins are often used to buy BTC offline. The website aims to connect how to sell usdt for cash potential buyers and sellers. The bitcoins are held in escrow by the seller and can only be released to buyers.

Buying bitcoins offline is not always very reliable or secure. So it’s better to meet the sellers during the day and have a friend accompany you in case things go wrong.

Bitcoin is not just a modern trend. Venture capital firms view bitcoin as a decent substitute for traditional currencies over the long term. There are countless ways for you to get into the bitcoin investing sphere. As mentioned, Coinbase, BitStamp, and Local Bitcoins are the most popular channels for investing in Bitcoin in the United States. Do your homework and find out which avenue meets all your requirements.