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Basic Guide- How to Buy Bitcoin

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How To Buy Bitcoin

This 2021 is not the only cryptocurrency so far this year, with Bitcoin as the main character. It’s a volatile market, and prices can change exponentially in just a few minutes. The advantage is that you can buy in pesos and profit in dollars without the restrictions that exist in today’s forex markets.

For those who still don’t know what it is, Bitcoin is a means of electronic exchange used to acquire goods and services like cryptocurrencies or other currencies. However, this currency is decentralized. That is, no authority or management entity is responsible for issuing and registering that move. The
bitcoin revolution official website
will tell you how to invest in bitcoin, It consists of an encryption key associated with your virtual wallet, and you will receive a discounted payment.

Know-How to Invest in Cryptocurrencies like bitcoin or many more

Prices are strictly dependent on supply and demand. It reflects the myriad of prices that have always been agreed upon between those who want to buy and those who want to sell Bitcoin. Therefore, if you are not authorized to intervene, its price can fluctuate very much.

Also, note that Bitcoin is not an inseparable unit, so you don’t have to buy a complete unit to invest. You can purchase only some.

Procedure for buying and selling Bitcoin

  • To operate with cryptocurrencies, you need to rely on a platform where your account or virtual wallet can be opened and sold.
  • To register, you can verify your identity with your data, ID photo, and selfie photo.
  • The thing is to enter the money in pesos. You can do it by sending cash from your bank account, another virtual wallet such as Mercado Pago, and possibly from a location such as Easy Payment or Rapipago.
  • Funds can take 24 to 48 hours. And you must say that each platform has a limit on the amount that you can trade.
  • Once the funds are in the wallet, investors can start trading. You only need to indicate which cryptocurrency on the platform and the amount you want to buy.

Cryptocurrency transaction fees

The virtual “exchange house” where cryptocurrencies are operated will charge a fee in the future. For example, when depositing a peso, the peso usually stays between 0.5% and 6% of the amount entered, depending on the amount and modality. In that case, there is usually a 1% commission on the sale. Sometimes, but not always, there may be a fee to withdraw your investment, especially if you need cash.

What are the characteristics of Bitcoin?

“This is the rarest asset in the world,” explains Andagnes, and the BTC theme is predefined from the beginning. “These shortages provide transparency in the number of units that exist and the number of units that will exist in the future. It is a new monetary system,” he added. “There is a software-based trust model where anyone can find the code.”

How do you buy or sell BTC?

“It’s very easy. There are three ways. Once downloaded, use a trading platform or crypto broker. For BTC to your wallet.

Stable coins

Like all financial assets, it takes 72 hours to be considered an attempt to circumvent exchange restrictions, but unlike the relative stability of dollars, bonds, or securities, Bitcoin’s volatility is high. Become. However, alternatives, such as DAI and DoC, maintain a one-to-one value against the dollar, called “stable coins.”

Nevertheless, the general rule is that Bitcoin is the most valued asset over time, so if it falls, wait and use it to see its benefits in the medium to long term. Recommend to Investment.

Since 2018, Bitcoin has been considered a type of financial asset, and its classification is not yet clear, but you must declare its holdings as of December 31st.

Buy Bitcoin: How to Recover Your Cryptocurrency Investment

Do you think it’s time to withdraw from Bitcoin or want to get ready when it’s time? It allows you always to leave and recover your investment in this cryptocurrency. But before you do that, you need to consider that if you decide to sell simultaneously as others, there may be some delay.

Step 1: Set an Exchange Account

The easy and “automated” way to convert Bitcoin into cash is to use an exchange platform. Some sites act as intermediaries and sell well-known cryptocurrencies.

Depending on your country, you may need to submit an ID or personal document as you will need to comply with the various procedures of the “Know your customer” regulation.

Processing this information can take several days. It’s not strictly necessary, but as mentioned above, it’s also a good idea to register with Coinbase Pro for better control over your sales.

Step 2: Transfer Bitcoin to Exchange Wallet

If you followed the guide above on buying Bitcoin in stages, you have stored your cryptocurrency in a secure wallet. Send the cryptocurrency using the wallet transfer feature and wait for confirmation when the process is complete.

Step 3: Move Money to Your Bank Account

Once the transaction is complete, the time has come to withdraw money from the exchange platform. To select the bank transfers fields from the menu, and then select a drawer]. Next, enter the amount to be moved to your bank account. Funds should arrive relatively early, although transmission may be delayed a bit.

Step 4: Buying Bitcoin: An Alternative Way to Sell It

If you want more control over the sales process, direct (or peer-to-peer) operations are an alternative. For this reason, as with all sales methods, they recommend that you set up an account in advance. When you’re ready, you can sell Bitcoin in a much more “direct” way.

Unlike exchange platforms where transactions are automated, in this case, the business runs in direct contact with the buyer. If you place a sell order at a specific price and someone tries to buy at an agreed price, the site will notify you that the process can continue. When you give the go-ahead, the buyer pays you, sending them that amount in cryptocurrency.

Conclusion: If you own Bitcoin or other cryptocurrencies, your options will be the same as any other financial product. In other words, you can save money by waiting for the value to increase or selling at your convenience.

Of course, you can transfer it to someone else anywhere in the world and use it for your purchase. For example, it is increasingly accepted in stores and used in real estate and automobile operations.

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