This is the most used method even if some distributors (ATM in English) and exchange offices exist. To buy bitcoin online you will have to register on specialized sites, verify your identity and choose your method of purchase. Depending on the purchase method chosen, you will receive your bitcoins directly or several hours or days later. Then you can either leave your BTCs on the platform or withdraw them to a wallet.
You buy your bitcoins, what to do next?
As you have seen in this chapter, buying bitcoins is certainly more complicated than buying a magazine at the corner newsstand, but it is far from insurmountable. It’s even quite 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 risk. By investing in Bitcoin you decide to place money in a bubbling niche market. The price of Bitcoin fluctuates a lot and quickly, you can win a lot, but you can also lose big.
💰 High risk, high reward 💰
2017 was a crazy year for those who invested in Bitcoin . For example, we saw Bitcoin go from $750 to $20,000 between January and December 2017, while many agreed that it would never exceed $1,000. On the same line, Ethereum , which went from 10 to $1,200 in the space of a year… Between March 2020 and March 2021, Bitcoin and Ethereum saw their price multiply by more than 10, respectively going from $3,800 to more than $60,000 for Bitcoin and $100 to almost $2,000 for Ethereum. At the end of 2021, the price of Bitcoin stabilized around $50,000.
These figures make you dream I grant you… Even if these increases are impressive and even if the price of Bitcoin never seems to stop rising over time, it must be kept in mind that there has been and that there will still be many corrections causing its price to fall dizzily. 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.
We saw it throughout 2018, Bitcoin kept falling to its low of $3,200. The year 2019 had started well with Bitcoin reaching $14,000, but the euphoria was short-lived and BTC quickly fell back below $10,000. In March 2020, Bitcoin did not hold its rank as a safe haven with a drop of nearly -50% in 24 hours. Will the arrival of companies and institutions like Tesla or PayPal change the situation? The future will tell.
I remain convinced that Bitcoin is a real revolution in the world of money and finance in general. Nobody knows what the price of Bitcoin will be in 10 years, or even if it will still be the main cryptocurrency. However, it is certain that everyone can participate in this new market and experience the fever of the trader or the patience of the holder
⚠ This article is published for informational purposes and should not be considered as investment advice. Cryptoast reminds you that Bitcoin trading involves risk and it is important not to invest more than you can afford to lose.