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Bitcoin has become one of the most popular crypto currencies on the Internet. Owing to the rapid rise of Bitcoin, there has been interest among investors to invest in Bitcoin and make a hefty return. More and more people from the off-line world are trying to buy or invest in Bitcoins. The problem is that even though, it is a digital currency but the procedure for investing in Bitcoin is not easy at all. Oftentimes, when you’re signing up on any of the websites in order to buy Bitcoins, it would take you at least 3 to 4 working days before you are able to buy Bitcoins. This actually creates a lot of problems for the people who are trying to invest in Bitcoins. Moreover, the price of Bitcoins fluctuates widely. Owing to this very reason, by the time people are able to finally buy the Bitcoin, the prizes change significantly and that is why many times it is not worth it to invest in Bitcoin at the point in time.
However, there are a few ways in which you would be able to buy Bitcoins quite easily. We would 1st go into the details of why you should buy Bitcoins and thereafter, we would look into some websites where you would be able to buy Bitcoin quite easily.
Reasons to invest in Bitcoin:
1. Limited supply:
As more and more number of Bitcoins get released into the system, the amount of Bitcoins which you are able to earn by mining reduces significantly. Due this very reason, the supply is limited. Unlike the Fiat currency which is printed continuously by governments, Bitcoin supply is limited. That is why the Bitcoins which are already available increase in value significantly. This would also ensure that is mining becomes more and more difficult, it would be possible for you to get a higher value for the Bitcoin which you hold. This is what is attracting a lot of people towards Bitcoins.
2. Wide acceptance:
These days, there are many businesses as well with the consistently increasing Bitcoin useage. As the acceptance increases, the demand for Bitcoins would also increase. When the demand of Bitcoins is increasing, the cost of Bitcoins would also increase since they are limited in number.
3. Investment asset:
Owing to the rapidly increasing prices of Bitcoins, they are also an investment asset. That is why more and more people are starting to invest in Bitcoins. When more and more people are starting to invest in Bitcoin, it would become easier for you to find a good amount of return from the Bitcoins in which you have invested. The emergence of Bitcoins as an investment asset is flipping the fact that instead of ignoring Bitcoins, it is high time that you should start thinking about investing in them. These days, there are even mutual funds which are dedicated solely to investing in Bitcoins. Worldwide, people are accepting Bitcoins as an asset.
Now that you are familiar with the reasons as to why you should invest in Bitcoins, we would go into some of the ways in which you would be able to invest in Bitcoins.
Investing in Bitcoins:
Coinbase is a website which allows you to buy Bitcoins but with limit of €150 or $150 on weekly basis. It accepts debit as well as credit cards from countries like:
The fees which it charges are 3.9%.
Before using your debit card or credit card in order to buy Bitcoins, you would have to verify your ID with the website.
-High buying limits
-Easy to get Bitcoins for a newbie
-Instant buying with credit cards and debit cards
-Bank transfers take up to 5 days to get credited
-Coinbase does not offer anonymity
Bitpanda is located in Austria. It usually charges you 3% to 4% of fees for buying Bitcoins through credit cards and debit cards.
The problem is that it is not pretty transparent about the fees which it charges. Instead of playing the fee separately, they are included in the buying and selling price.
-Reasonable fees for buying with credit cards and debit cards
-Fees are not clear
CEX.io allows you to buy Bitcoins with the help of credit cards as well as debit cards.
It is one of the oldest Bitcoin exchanges.
It allows buying Bitcoins with credit cards and debit cards for users from countries like:
-Select South American Countries
The verification process is pretty lengthy.
-Many regions are allowed
-Low trading fee of just 0.2%
-Only some states in the United States are allowed
-The verification process is pretty long
-Liquidity is lacking in GBP
Bitquick works by connecting the buyers with the sellers. You have to find a seller of Bitcoin and thereafter, you have to deposit the money to the seller’s bank. Thereafter, you have to upload the receipt of the same to the website and the Bitcoins would be released.
Usually, it takes up to 2 working hours for the website to verify your deposit.
-Fastest way to buy Bitcoins
-More secure as compared to the other payment methods
-Volatile prices due to less liquidity
As you can see, when you’re trying to buy Bitcoins, there are many different payment methods which are available. You can choose the payment method which is perfect for you. Also, as you can see each and every website or exchange has its own pros and cons. That is why instead of trying to find the perfect Bitcoin exchange you have to look at the pros and cons and thereafter take a call.
So, it is high time that you start investing in Bitcoins and create a proper set of Bitcoins in your portfolio instead of just monitoring the rising prices of Bitcoins.