December 13, 2024 5:33 am
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Buy Bitcoin

Many early Bitcoin investors have risen to become multi-millionaires in recent years. No wonder that the Bitcoin price is closely watched by many market participants and the most important cryptocurrency is actively traded by thousands of investors around the globe. At the beginning of 2017, the Bitcoin price broke through the sound barrier of 1,000 US dollars for the first time and reached its preliminary all-time high of almost 69,000 US dollars at the end of 2021. In between, there were months of enormous volatility and phases of sharply rising and falling quotations. Most recently, bitcoin has come back considerably once again. A new opportunity for investors willing to take risks?

In this guide, we explain how to invest in Bitcoin via the world biggest exchange Binance, what to look out for and how you can buy and sell Bitcoin with little effort. Among other things, we will introduce you how the Bitcoin purchase is done in just 15 minutes via credit card.

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Bitcoin - the most important cryptocurrency

Bitcoin (BTC) is the best-known cryptocurrency of all and still by far the most important. In terms of market capitalization, Bitcoin is well ahead of the competition, and no other digital currency can hold a candle to Bitcoin in terms of performance either: At over 700 billion US dollars, Bitcoin's market capitalization in May 2022 is far ahead of that of Ethereum (around 325 billion US dollars), Cardano (around 25 billion US dollars), Binance Coin (around 60 billion US dollars), Tether (80 billion US dollars) and Ripple (28 billion US dollars).

The price performance of the most important cryptocurrency is also unique: in 2016 alone, the Bitcoin price climbed by more than 125 percent, and in 2017 Bitcoin reached temporary highs close to 20,000 US dollars. After the Corona crash in March 2020, the price of the most important digital currency climbed for months. The Bitcoin value multiplied to almost 70,000 US dollars at times. From its all-time high in November 2021, the price slipped and has been hovering in the range of 36,000 to 48,000 US dollars since the beginning of 2022.

Those who trade Bitcoins and keep a close eye on the Bitcoin price can make a profit this way. In the past, the most successful cryptocurrency made one or the other investor a millionaire. However, trading cryptocurrencies is always associated with a certain risk and can also lead to the loss of the invested capital.

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HIGH DEMAND FOR "ANONYMOUS MONEY"

Some analysts are predicting Bitcoin's price to rise to $500,000 and beyond. As the “Blockchain and Cryptoasset Pre-Event” in early April 2019 showed, more and more professional asset managers and institutional advisors want to recommend the blockchain and cryptocurrencies as an asset investment. Bitcoins also continue to gain acceptance among more and more financial institutions. For example, the U.S. investment bank JPMorgan launched its own cryptocurrency, and in Swiss online retail, many customers can already shop with cryptocurrencies.

Bitcoins are no longer just nameless online coins used by computer nerds to make anonymous purchases on the Internet. Bitcoin trading is popular with both private investors and speculators, and the potential still seems great. The recent strong price movements and the sharp rise in the Bitcoin price after the Corona crash are proof of this in particular.

In El Salvador, the cryptocurrency Bitcoin has even been official currency since September 7, 2021. This makes El Salvador the first country in the world where it is possible to pay with Bitcoin. The Central American country is expecting a modernization boost from the introduction because it will make remittances possible without bank accounts. In April 2022, Panama also passed a bill on the use of crypto assets.

But: around the Bitcoin hype at the end of 2017, some critics saw Bitcoin as a risky investment, calling the main cryptocurrency “hot air.”

Ultimately, the Bitcoin price is regulated by supply and demand. And the demand for anonymous money like Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin & Co. continues to rise strongly. The reasons for this are, for example, the forward-looking blockchain technology, investing money in Bitcoin, and capital controls, which can be successfully circumvented with the help of cryptocurrency.

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BITCOIN TRADING - MONEY INVESTMENT FOR OPPORTUNITY-ORIENTED INVESTORS

Given the performance and technical possibilities in online currencies, the interest in Bitcoin is growing more and more among many investors. If you want to buy Bitcoin and participate in the performance of the most important Internet currency, then there are several options for you via the Binance exchange.

BUY AND SELL REAL BITCOIN

If you are interested not only in the performance but also in your anonymity when trading Bitcoin, there is no alternative to buying “real” Bitcoins, i.e. buying Bitcoins in the form of “digital money” or in the form of data. For this, the possession of a wallet is a basic requirement. This electronic wallet is comparable to a personal checking account for your pocket; you can use it to make transfers and receive or send Bitcoins.

Transferring Bitcoins is basically no different from a bank transfer: Instead of an account number, only a receiving address is mentioned. Because the digital currency is sent directly from person to person without an intermediate instance, the fees incurred are lower than for transactions via banks.

If Bitcoins are purchased on several portals, all Bitcoins can be combined in a single Bitcoin wallet. For everyday use, a Bitcoin wallet on the smartphone is suitable, but it is also possible to have a wallet only for online payments on the PC or tablet. After downloading and installing a Bitcoin wallet, it should be secured with a strong password, a so-called passphrase. This access code must then be entered before every transaction in the future. Here is a link where you can purchase such a wallet:

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Bitcoin Exchanges

Another way to buy “real” bitcoins is through bitcoin exchanges. The most popular cryptocurrency trading exchange is Binance. 

If you actually want to buy Bitcoins, you only have to specify how many coins you want to buy and at what rate (classic currencies such as US dollars or euros can be exchanged for Bitcoins there at any time). If the Bitcoin exchange finds a suitable offer, it buys the Bitcoins on behalf of the customer and then credits them to the customer's account. On Binance, the transaction is particularly easy, especially since credit cards such as VISA and MasterCard are also available there as a payment method.

If you want to sell your Bitcoins via Bitcoin exchanges, it works according to the same principle as when buying Bitcoins: Within a few minutes, you have posted your offer for sale on a Bitcoin exchange. If someone buys your Bitcoins, the amount will be credited to your bank account.

Buy Bitcoin with credit card

One of the most popular ways to be able to buy a cryptocurrency is by credit card. This is because Visa, Mastercard and American Express are widely used by both buyers and sellers. However, buying Bitcoin with a credit card offers several other advantages. On the one hand, the purchase is fast and convenient. On the other hand, the fees are comparatively low. Once you have deposited your data with a crypto broker or an exchange such as Binance, you will have the opportunity to buy your cryptocurrencies such as Bitcoin with a credit card even easier in the future with just a few clicks. If you need a credit card, sign up for a WISE Account for example.

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