How to Invest in Bitcoin/cryptocurrency Safely for Beginners All Country 2023?

How to Buy Bitcoin,bitcoin price in india ll how to invest bitcoin ll how to invest money ll investing money for beginners ll how to start investing, Due to the exponential growth of the cryptocurrency market in the last few years, more people than ever are looking to invest in Bitcoin to potentially generate market-beating returns.

This article will discuss how to invest in Bitcoin in detail, reviewing the top trading platforms in the market and highlighting how you can make your Bitcoin investment today – with tight spreads and no hidden fees!

How to Invest in Bitcoin – Quick Steps

Investing in Bitcoin doesn’t have to be complicated. Found below are the four quick steps you need to take in order to buy Bitcoin with our recommended trading platform, eToro.

• ✔️ Open an account with eToro – Head to eToro’s homepage and click ‘Join Now’ to sign up. Your capital is at risk.
• ✔️ Deposit – Deposit at least $10 into your trading account using a credit/debit card, bank transfer, or e-wallet.
• ✔️ Search for Bitcoin – Type ‘BTC’ or ‘Bitcoin’ into the search bar at the top of your screen and click ‘Trade’.
• ✔️ Invest – Enter the amount you’d like to invest in Bitcoin (minimum of $10), double-check everything is correct, and click ‘Open Trade’.

Where to Invest in Bitcoin

We’ve identified the two best and safest platforms to make your first bitcoin investment.

eToro – Overall Best Broker to Invest in Bitcoin Safely

Our recommended trading platform for traders looking to invest in Bitcoin is eToro. eToro exchange has a stellar reputation worldwide, boasting over 23 million registered users and operating in over 100 countries. One of the most appealing aspects of the eToro platform is that it is regulated by multiple top-tier entities, including the FCA, ASIC, CySEC, SEC, FINRA – and is licensed by the FSCS in the UK.

When trading Bitcoin, eToro doesn’t charge a transaction fee when you open or close a trade. Instead, the platform employs a spread-based structure quoted at only 0.75% for BTC trading. The great thing about eToro is that when you trade crypto, you will gain complete ownership of the underlying crypto asset. Furthermore, eToro charges no deposit or monthly account fees, making the trading process very cost-effective.

Users can make deposits from as little as $10, and eToro accepts a range of payment options, including credit/debit cards, bank transfers, and e-wallets – including PayPal, Skrill, and Neteller.

Finally, eToro really excels when it comes to trading features and offers a unique ‘CopyPortfolio’ feature for all traders. This allows users to invest in a professionally managed portfolio without paying any hefty management fees. eToro even offers a ‘CryptoPortfolio’, which comprises many major digital currencies – allowing for exposure to price movements in the broader crypto market!

How to Buy Bitcoin in India Legally?

Individuals planning to purchase Bitcoins can take the following course of action to make an investment without breaking any law:

• ✔️ First investors should submit basic documents including the Aadhaar card and PAN card. Thereafter, they should complete the KYC process completely.
• ✔️ In order to buy Bitcoins, an individual must place an order for his/her purchase on a cryptocurrency exchange.
• ✔️ Once an order is placed, investors can directly transfer the payable amount from their bank accounts to the crypto exchange. Alternative modes of payment include RTGS, NEFT, debit or credit cards, and other methods of digital payments that one uses for routine transactions.
• ✔️ The next step for investors is to securely store their purchased Bitcoins in crypto wallets provided by the respective cryptocurrency exchange.

A point to note here is that any transaction here has an entry in a public ledger, and transacted Bitcoins are registered with their wallet IDs instead of the names of sellers or owners.

Where to buy it?

As for these cryptocurrency exchanges, one can turn to digital platforms like Coindesk, ZebPay, or Coinbase. 

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These digital exchanges allow investors to purchase Bitcoins at the current market price. In addition, one can use their international credit cards for buying Bitcoins on these digital exchanges.

Some cryptocurrency exchanges offer a downloadable mobile application, which is compatible with Android as well as iOS. Therefore, potential investors can easily link their bank accounts to their smartphones and use this linkage for instant transactions and transfers. 

 So, investors cannot buy Bitcoin in India without a PAN card. Investors’ PAN cards must be connected to their bank accounts used for the withdrawal and transfer of funds from a cryptocurrency exchange. 

Besides, one should also learn about the minimum investment required for Bitcoins before initiating any transactions.

What Is the Minimum Amount of Investment in Bitcoins?

Just like there is no minimum limit of investing in stocks, there is no defined minimum amount to buy Bitcoin in India.

When registered, individuals can add money into their wallets and use this sum to place an order for Bitcoins. In India, an investor can buy Bitcoin in Indian Rupees with a minimum capital of Rs.100. That said, this limit could vary between various crypto exchanges.

Nonetheless, trading Bitcoins is one side of the story; storing them securely after purchase is also imperative.

How to Store Bitcoin?

A blockchain wallet is used to store Bitcoins. Alongside storing currency, a crypto wallet stores keys for enabling transactions, encrypting, and signing information, all of which ensure the safety of funds. 

There are two types of wallets –

1. Cold Wallets: These crypto wallets exist offline and store a user’s private keys. They work in conjunction with compatible software on one’s computer. Furthermore, as they do not store information digitally, cold wallets extend a higher level of security. 
2. Hot Wallets: Hot wallets work with internet connectivity. They allow users to send and receive tokens across the internet, thereby facilitating basic transactions. In addition, based on their software usage, hot wallets are of these types:

• ✔️ Desktop Wallets
• ✔️ Web Wallets
• ✔️ Mobile Wallets

Bitcoin Investment Numbers Explained

As you’ll likely be aware, the process of making money when BTC trading will be based on the price you invested at and the price that you close your position at. Here’s an example:

• ✔️ You invest $1000 in Bitcoin when the price is at $40,000
• ✔️ After one year, the price of Bitcoin rises to $100,000
• ✔️ You decide to close out your position and take your profits
• ✔️ As the price has increased from $40,000 to $100,000, which is a 150% increase, your investment amount will have also increased by 150%
• ✔️ Due to this, your $1000 will have turned into $2500!

It’s worth noting that most brokers and exchanges will still charge the spread when you close out a trade, which will reduce profits somewhat. For example, if the spread was 0.50%, the price the broker closes your position at will be 0.50% lower than the market price – this can essentially be defined as the broker’s ‘cut’.

So there you have it, some of the soundest ways to invest in bitcoin. Proceed below to open an account.

Invest in Bitcoin

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.bitcoin price in india , bitcoin price in india , bitcoin price in india , bitcoin price in india

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Posted by Sanjit Gupta

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