Just like Bitcoin, cryptocurrency is not a company or a stock, it's a currency. If you are still confused about what cryptocurrency is, check out this post. As a result, the basic form of investing cryptocurrency is buying. Alternatively, you can effectively buy Bitcoin by mining and there are additional ways to also engage in the cryptocurrency business. Using your hard-earned money on Bitcoin could be considered one of the safest, easiest and most effective ways of buying Bitcoin. You buy your bitcoin, hold it and when its value increases, you sell it. You might be wondering why Bitcoin ?- cryptocurrency isn't devoid of scamming activities as people will be trying so hard to steal your money. Bitcoin is the well know cryptocurrency out there now and considered as the original cryptocurrency. If you are keen on wanting to invest, follow this guide.
Getting started - buy Bitcoin
1. You will need a phone or computer with internet
2. Download the app called Coinbase. This is how the Coinbase interface looks like this.
Coinbase is the easiest and simplest - non-scammy way to get into Bitcoin investment. It is the safest bet when it comes to using a platform for your investment. The first thing you would have to do is register for your account. When using Coinbase, you use the buy button in the BTC wallet to purchase your Bitcoin. You can buy as much as you want but Coinbase limits you to a certain amount per day or per week and that depends on your level of identification attached to your profile. I will recommend you start small and not invest too much money. You can't afford to lose so much if you are a newbie in the crypto-space. That's like the golden rule when it comes to cryptocurrency usage.
Mining
Mining Bitcoin is also another way of getting Bitcoin, the only requirement is you buy hardware and hook it up on the internet. The disadvantage is that you spend a lot of time, energy and money. But if you can take it as a part-time hobby, this is a legit way of earning Bitcoins.
Trade on Coinbase
Whenever you sign up on Coinbase, you will have an account on Coinbase pearl. When it comes to bitcoin and cryptocurrency in general, there has been some life given to it as the price is steadily rising. Coinbase is recommended 8 out of 10 by many who understand the crypto-space.
Extras
When it comes to the crypto-space in general investors like to keep their personal information private and that is dependent on your level of privacy. You would want to avoid sharing your personal information like license, passports and birth certificates. To secure everything you should use Google authenticator. This gives you a secret code and it's time-sensitive with each code lasting for like 2 minutes. There are other cryptocurrencies on Coinbase as well, Altcoins, Ethereum, Litecoin, Icon and others. Bitcoin price jumps up and down. It is super volatile so there is an opportunity to earn money. With Facebook registering a new fin-tech centred on Blockchain, the widely use of cryptocurrency doesn't seem too far.