Well, as with almost anything else in life – if not everything – you have to buy it before you can invest in it. Investing in bitcoin can be very challenging, and that’s if you haven’t set your sights.
First you need to know that bitcoin is a type of cryptocurrency, one of the first digital currencies to be invented, designed and developed by Satoshi Nakamoto and released to the public in 2009.
From then on, the updates as well as the improvements are made by a network of very experienced developers and the platform is partly funded by the Bitcoin Foundation.
As bitcoin has become a hot topic of interest and many people are investing in it, there is nothing wrong with getting a little digital wealth. It is interesting to note that in 2012, bitcoin companies managed to raise only $ 2.2 million.
Despite the fall in the price this year, the cryptocurrency continues to grow both among consumers and traders who accept it as payment.
So how can you be part of the action? Investing in bitcoin for the average Joe can be easy if he just buys frankly little.
Buying it today is easy because many companies in the United States and everywhere are involved in the buying and selling business.
For American investors, the easiest solution is Coin Base, a company that sells BTC to people at a premium, which is usually about 1% above the current market price.
If you want a traditional exchange, Bit Stamp may be a better option, because consumers will not only trade with the company, but also with consumers.
The company acts only as an intermediary. Liquidity is higher and you can almost always find another person to take over the other side of your trade.
Fees start at 0.5% and go up to 0.2% if you’ve traded over $ 150,000 in the last 30 days. All this is already in its own way, investment circles, because the more you buy BTC, the more profit you will make if you decide to store it or resell it to other traditional buyers at a higher price than the one you bought with real companies.
You can also buy bitcoins in a way other than exchange. One of the most popular routes for being so offline is Local Bitcoins, which is a website that connects you with potential buyers and sellers. When buying, the coins are locked by the seller in escrow, from where they can be released only to buyers.
But buying bitcoins offline should be done with some extra precautions, which are always common, as you would when meeting a stranger. Meet during the day in a public place and, if possible, bring a friend.
Bitcoin is the hottest thing online right now. Investors and venture capital firms are betting that he is here to stay. For the average Joe, there are many ways to invest and buy bitcoin.
In the United States, the most popular routes are Coin Base, Bit Stamp and Local Bitcoins. Each has its advantages and disadvantages, so do your research to find the right one for you.