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Trading with Bitcoin, which was introduced in 2009 as the first cryptocurrency, is actually easier than one might think. Nowadays, cryptocurrency exchanges offer great convenience to their users, allowing Bitcoin transactions to be completed with just a few clicks.
Getting Started with Bitcoin
It is beneficial to recognize the asset one wants to buy, sell, or invest in first.
In its most classic definition, Bitcoin (BTC) is a peer-to-peer payment system introduced in 2009 by an individual or group known as Satoshi Nakamoto. Of course, this definition remains quite limited and perhaps even confusing when considering all of Bitcoin’s functions.
Nearly all transactions that can be done in banks can be executed with Bitcoin. Moreover, this can be done much cheaper and faster than traditional systems.
Additionally, Bitcoin is introduced to the market through a system known as mining, and it is not backed by any central institution, government, or central bank. Thus, the real owners of Bitcoin are individuals themselves, meaning people solely control their own money. Miners contribute by mining Bitcoin, thereby adding BTC to the circulation while also confirming Bitcoin transactions and recording all operations on a distributed database known as the Blockchain. Among Blockchain’s most significant features is the fact that once a transaction is recorded, it cannot be altered and is completely transparent, meaning it is visible to everyone.
The most common inquiries about Bitcoin seem to be “How do I start with Bitcoin?” or “How can I purchase Bitcoin?”. To begin with Bitcoin, it is crucial to research it from reliable sources, as the ecosystem is new and often filled with misinformation.
After researching Bitcoin, purchasing it through cryptocurrency exchanges can be done easily.
How to Buy Bitcoin in 2020
Bitcoin can be purchased through Bitcoin ATMs, cryptocurrency exchanges, or directly via Bitcoin wallets. However, cryptocurrency exchanges are currently the most preferred option because they seem to be easier and more reliable for people compared to other methods.
When using cryptocurrency exchanges, it is crucial to choose a trustworthy one. For instance, purchasing Bitcoin through Binance, which is among the world’s best in terms of trading volume, is quite simple. After registering on Binance, one can instantly access the trading page by selecting “BTC” from the homepage. If a different Bitcoin trading pair is desired other than the BTC/USD pair, it can be selected from the panel on the right as shown below.
After selecting the trading pair, filling in the areas under the “Buy BTC” title to create an instant purchase order is very straightforward.
Buy Bitcoin
When asked “How can one buy Bitcoin?”, it can be said that the existence of a cryptocurrency exchange that both professional and amateur investors can use is important. In this respect, Binance serves as an example, offering services to both professional users and those investing for the first time.
Moreover, if one wishes to buy Bitcoin at a specific higher or lower price rather than the current price, an order can be created on Binance, and as soon as a selling order that matches the user’s request appears, the purchase can be made easily at the desired price.
