Bitcoin is the largest cryptocurrency market cap. Unlike the normal currency, Bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system called as blockchain.
One can easily trade the bitcoins for cash or assets like gold instantly with incredibly low fees. The high liquidity associated with the bitcoin makes it a great investment option if one is seeking for a short term profit. However, due to its high market demand, digital currency can also be a long term investment.
Similar to any speculative investment, buying bitcoin is still very much a gamble. This cryptocurrency carries some well-known risk like the sudden and huge dropping of the price, online hacking or crash of hard drive can wipe out your stash of bitcoin with no recourse.
Bitcoin has witnessed some dramatic ups and downs in price but has consistently retained a remarkable position of its previous gains every time it falls. Since its birth, bitcoin was the 1st digital asset to beget the currency ecosystem of cryptos. But do Remember to Get bitcoin courses Because knowledge is very important and in order to earn prfits you need to know the basics of bitcoin.
Investing in bitcoin is same as investing in stocks but it is far more volatile due to daily swings in bitcoin. Here are steps for investing:
- Open a brokerage account with the company that allows crypto investments
- Deposit funds in your brokerage account
- Buy Bitcoin currency
- Sell the crypto for gain or loss
- Here are some of the top brokerages where you can do bitcoin investments:
- Etoro: US-based individuals are limited to trading cryptocurrencies via eToro. eToro currently supports the purchase and sale of 15 unique coins including the Bitcoin.
- Tradestation: It provides a platform to the crypt markets. The brokerage boasts innovative pricing, pooled liquidity and intelligent execution algorithms to get the investor the best price.
- TD Ameritrade: It is a CFTC regulated directives exchange, to let one access the cryptocurrency spot contracts and future contracts under one single roof.
- E*trade: This platform reportedly starts offering bitcoin and other cryptos on its platform. But the brokerage lets one trade bitcoin futures via brokerage and eligible IRA accounts.
- Interactive brokers: This trading platform gives access to a wide range of securities at the competitive commission.
- Coinbase: This makes it safe and simple for one to buy, sell and hold bitcoin. Here one can buy the portion of bitcoin starting as low as $25. Owning bitcoin here is as simple as creating an account, where your identity is verified and cryptos are bought.
