Bitcoin is popular today than ever and the reasons are not far fetched, as more people are beginning to take investments seriously. As more people learn about different investment options we have today, the demand for bitcoin continues to increase. Today, we have upgraded apps and software such as https://bitqt.org/ which make investing in bitcoin a seamless process.
In a recently generated report, the number of daily Bitcoin transactions worldwide from the first quarter of 2016 to the second quarter of 2020 was estimated to be 299,733 daily worldwide. This is how much bitcoin has grown in the last four years and there is more to expect in the coming years.
How then do you get started with Bitcoin?
1. Download a Bitcoin Wallet
To get started with bitcoin investments, you will need an app to store your currency and trade. This app is referred to as your bitcoin wallet. There are many different wallets to choose from but you can decide based on the features of the wallet and its functionality. Ensure the one you opt for can do the basic things required of an investment app and should also be easy to navigate. With a good wallet in place, you are set to kick off your bitcoin journey.
2. Connect a Bank Account
You need to connect to a bank account or a credit/debit card to fund your wallet. This is one of the things to consider when choosing a wallet to ensure that your preferred mode of payment is accepted. While there are different modes of payment, it is important to know the transaction fees of each and how long it would take for the payment to reflect on your wallet. If you are transferring from your bank account, it could take up to four to five days for the transaction to be complete. Your preferred mode of payment depends on you but bank accounts are often the most advised payment mode to use, as they are more secure, especially for larger amounts.
3. Start Using Bitcoin
With your wallet in place and your bank account connected, you can now join the train of bitcoin users. It is however important to be as secure as possible to avoid losing the money in your wallet. There are several ways to go about this and this includes keeping your private key to yourself so that no one else but you has access to your wallet. If you would like to pay merchants with bitcoin, choose to buy only from a store that uses a trusted payment gateway.
Most importantly, to make the most of your bitcoin investments, you must stay on track with the latest trends and always do your research.
Like every other form of investment, trading bitcoin has its risks. This is why it is often advised not to venture into any investment option without first doing your research and counting the cost. This will help you make an informed decision and can also determine how your investments would turn out in the long run.