Are you thinking about getting into Bitcoin? Curious about diving into the world of cryptocurrency investments? If any of these is true, you’re in the right place. 

In the digital age, currency makes a straightforward analogy: “What e-mail did with information, Bitcoin will do with money.” Before the internet, people depended on the post office to send a message to anyone elsewhere. An intermediary was needed to physically deliver it – unimaginable for those with access to email and other messaging services. 

Bitcoin enables the movement of funds globally without relying on a third party, provided the involved parties possess an internet connection. Cryptocurrencies can serve the same functions as conventional physical currency. The primary functions of crypto encompass its role as a medium of exchange, enabling the smooth execution of commercial transactions; its function as a store of value, ensuring the preservation of purchasing power over time; and its utility as a unit of account, easing the pricing of goods and services and enabling economic calculations. Here's a table outlining key Bitcoin statistics since its inception:

📅 Start Date	January 3, 2009
💰 Highest Price	Approximately $69,000 (April 2021)
📉 Lowest Price	Fractions of a cent in 2009
🌐 Total Supply	21 million BTC (max supply)
🔄 Circulating Supply	Varies; currently around 18.8 million BTC
💹 Market Cap	Varies; often in hundreds of billions USD
⏰ Block Time	Approximately 10 minutes

Consequently, its price tends to be incredibly unpredictable. However, its followers believe that it is a relevant long-term investment. Bitcoin, with a marker BTC, is the most famous cryptocurrency. Cryptocurrencies in casinos are the latest development, and Bitcoin is undoubtedly number one.

How to buy Bitcoin

When individuals develop an interest in Bitcoin and express a want to purchase it, particularly as newcomers, they often find themselves overwhelmed by the abundance of information and unfamiliar terminology associated, which may cause you to feel as though the procedure is more difficult than it actually is.

Here are the steps to follow to buy your first Bitcoin:

• Choose the platform on which you will open an account to buy Bitcoin;
• Deposit money with a bank transfer, bank card, or other;
• Choose the cryptocurrency you wish to acquire, Bitcoin;
• Enter the amount you wish to allocate to your Bitcoin purchase ;
• That's it! You are the proud owner of BTC!

Criteria for choosing the right platform:

• Site reputation (check user reviews on specialized sites or forums like BitcoinTalk and Reddit)
• Payment methods to buy bitcoins (bank card, bank transfer, PayPal, cash)
• Bitcoin price on the platform (there may be significant variations from one exchange to another)
• Commission and fees
• Site security and reviews
• Customer support service

To begin with, there are four Bitcoin investor profiles: someone who wants to make a financial investment,  the beginner who discovers the world of cryptocurrencies, the enthusiast who is there for technology and innovation, and the investor who keeps his assets in safety and the long term.

Bitcoin price USD exhibits fast volatility, which presents the possibility of huge gains or significant losses. To provide an example, the Bitcoin price underwent a considerable surge, rising from $750 to $20,000 between January and December 2017. This occurred despite prevailing opinion suggesting it would not break the $1,000 threshold; Ethereum's price increased significantly over a year, rising from $10 to $1200. From March 2020 to March 2021, there was a major rising trend in Bitcoin and Ethereum prices, with both cryptocurrencies witnessing a notable 10x increase.

Buy Bitcoin with a credit card

In 2023, an increasing number of exchanges have enabled Bitcoin purchases via credit card due to declining fraud, notably due to advancements in 3D Secure technology. The main benefit of buying bitcoins and cryptocurrencies with a credit card is the swift execution of your order. You'll typically receive your cryptocurrencies in under 5 minutes. Before purchasing a platform that accepts this payment method, consider various criteria: its reputation, whether there's a spread on Bitcoin's price, associated fees, and the availability of customer service. 

It’s also important to note that the fees are low when buying Bitcoin or cryptocurrency through a bank wire transfer, but it typically takes 24 to 36 hours for the funds to be transferred. In contrast, the purchase of bitcoins using a credit card or PayPal occurs instantly; nevertheless, the associated fees are higher, and the number of available exchanges facilitating such transactions is limited. 

How can I store bitcoins securely? 

With the recent events and the bankruptcy of the second largest market platform, FTX, saving your bitcoins on something other than centralized crypto exchanges is generally recommended. The bankruptcy of FTX in November 2022 caused the price of cryptocurrencies to fall, and even though these low bitcoin usd price levels are interesting for purchasing Bitcoin, it's important to remember that investments in crypto-assets, particularly Bitcoin, is very risky.

You can hold your bitcoins with the expectation that they will continue to increase in value over time. If you opt for this solution, it is better to store them in a private wallet called a cold wallet rather than leaving them online on an exchange platform, which could be the target of computer attacks or affected by bankruptcies. Bitcoin is entirely designed to do without trusted third parties, so why leave them on an exchange? If you’re considering cold storage for your cryptocurrencies, the Ledger Nano S is one of the most popular cold storage wallets for cryptocurrency.

What next after buying Bitcoin?

Buying bitcoins can be more complicated than buying a magazine at the local newsstand, but it is far from impossible. It’s pretty simple if you know where to go. Of course, investing in Bitcoin is probably not the classic portfolio of a good father who would like to make profits while minimizing risks. By investing in Bitcoin, you place money in a bubbling niche market. 

Even if these growths are impressive and the price never seems to stop rising over time, you must keep in mind that there has been and will continue to be numerous corrections causing price to drop. Bitcoin has experienced very long dry spells in the past. It's easy for a novice investor to sell everything at a loss in the general panic of a crash to try to minimize the damage.

Frequently Asked Questions

What is the best site to buy bitcoins?

To engage in bitcoin trading, one may consider utilizing the services of eToro, an online platform that facilitates investment in various financial instruments, including equities. If one desires to withdraw or exchange their bitcoins and other assets, they may consider utilizing reputable platforms such as Bybit, Binance, and Kraken. 

Where to buy Bitcoin without fees?

You must go through platforms that authorize fiat deposits by bank transfer. These platforms generally have the lowest fees. However, you must be patient if the commissions are low because a transfer can take up to 3 or 4 working days.

How to buy bitcoins online?

This is the most used method, even if some ATMs and exchange offices exist. To buy Bitcoin online, you must register on specialized crypto exchanges, verify your identity, and choose your purchase method. You will receive your bitcoins directly or several hours or days later, depending on the purchase method selected. Then, you can either leave your BTC on the platform or withdraw them to a wallet.

Which site to trade cryptocurrency?

If you want to trade crypto, you can use eToro or Binance. This allows you to trade the most well-known cryptos and other classic stocks. However, if you want to trade smaller cryptocurrencies, but the trading will be riskier, you can go to platforms like Bitpanda, which offers several hundred. Some sites also offer leverage, meaning you can multiply your gains and losses.

How to buy Bitcoin without verification?

You must provide proof of identity on most reputable sites to avoid tax fraud, money laundering, or illegal activities; even though certain online exchanges facilitate peer-to-peer transactions between buyers and sellers, these platforms do not require identification verification for transactions below a specified threshold.