Bitcoin has been introduced into the market almost a decade ago but estimates reveal that it is here to last longer. Over the years, Bitcoin has made several good as well as bad headlines; still, it maintained a great peak while offering significant returns to investors. Although this digital currency is known to be highly volatile in nature, still it keeps on attracting new investors across the world.
Bitcoin is a kind of electronic money that validates transactions through blockchain. Several organizations and people work as miners and they use some hardware-based computing systems to encrypt transactions. As Bitcoin is a speculative asset, traders need to be ready to handle the risk in the market.
4 Simple steps every beginner need to follow to invest in bitcoins:
If you are a new trader, it is important to consider the below-mentioned steps to invest in Bitcoin for great returns.
Step 1: Choose the best crypto exchange
First of all, you need to choose the best place to handle your Bitcoin transactions. There are plenty of exchanges in the market, but you need to consider the most reliable one to lead your trades. One of the best recommendations from experts is https://cryptex.net/en/trade/TRXUSD where you can find all popular crypto coins to invest. It is good to analyze all competitive options in the market and then choose the most profitable currency for investment. It offers easy access to some secure crypto wallets and they take a 0% trading fee. Moreover, you can start ahead with trading activities anonymously without requiring any verification. Therefore, people prefer this exchange more; mainly due to restriction-free trading opportunities.
Step 2: Select the payment method
Crypto exchanges can also vary in terms of the accepted payment methods for trading. The most reliable exchanges will follow some trusted and reliable approaches while keeping your account safe from scammers online. Cryptex allows all international payment methods including PayPal, debit cards and credit cards, etc. to make processing easier for the user. Irrespective of the payment method you choose for transactions on the crypto exchange, you may have to verify your identity while signing up for the account as well as while registering the preferred payment method. The exchanges may also ask you to submit a few additional documents to proceed ahead with the transactions.
Step 3: Place an order for your desired currency
Once your account has been verified on the exchange, and the process of depositing cash into the account has been completed, you are ready to buy Bitcoin. Note that the purchase process may vary from exchange to exchange as few of them follow very simple and others have a little complicated process. Once you have selected the type of currency for trading, the next task is to hit the buy or sell button on the screen. It will soon ask you the amount of crypto coin that you wish to buy or sell. There are generally three different order types that one can consider using on crypto exchanges: market order, stop order and limit order.
Step 4: Store your cryptos safely
Although crypto transactions are safer than traditional money exchanges, one should always be concerned about the increasing threats from hackers, scammers, and fraudsters online. Experienced traders always recommend using some trusted storage systems for crypto coins. You can consider using hard or soft wallets as per the requirement. Hardware wallets are also known as cold wallets and they are basically some tiny devices in which you can store the private key of your Bitcoin address. These wallets are not connected to the internet; therefore, they are believed to be safer than other software-based alternatives. On the other side, several beginners start with software wallets as they are available comparatively at a low cost.
Now you have gone through four important steps that every beginner needs to follow while dealing with crypto trading activities. Cryptex.net exchange allows users to avail best exchange rates for Bitcoin and money. They offer 24×7 hour support in English as well as the Russian language. Therefore, this top-rated crypto trading platform can make your journey as a new trader convenient.