- 1 What is bitcoin ?
- 2 Where to buy bitcoin? Popular exchange to buy bitcoins globally
- 3 How to buy bitcoins on local exchanges
- 4 How to buy bitcoins on cash app
- 5 How to buy bitcoins from paypal
- 6 Bitcoin , trade or hold ?
- 7 Bitcoin Price Prediction
- 8 I want to trade, but i dont have good skills and strategies
What is bitcoin ?
Bitcoin is the earliest known cryptocurrency , proposed back then in 2008 by entity called Satoshi Nakamoto in his whitepaper with title “ A Peer-to-Peer Electronic Cash System “ . This paper explain that it would be a possibility to have decentralized network which you can transfer token inside the network without interference of central party such as bank or administrations. The network completely relying on mathematical formulae and encryption.
You can learn deeper about bitcoin in here : https://www.pionex.com/blog/what-is-bitcoin/
Where to buy bitcoin? Popular exchange to buy bitcoins globally
Today, getting our hands on bitcoin is very easy. There are multiple local exchanges that offer services to buy bitcoin from credit card or debit card. Some peer to peer transaction is also available in certain places.
There are so many exchanges that provides global payment through credit card or master card. In this list, we will provide you which exchanges is the most popular for its users to use as their first crypto exchanges.
Coinbase is the first crypto exchange company that goes public and its stock is being traded on stock market. Coinbase has operates since early bitcoin days, providing its users to buy bitcoin and other crypto using fiat money.
How to buy bitcoins on local exchanges
The first basic way to buy bitcoin is to register yourself in local cryptoexchanges. For example if you ive in U.S., you can register to coinbase.com and fill your KYC and bank details. After successfully registering your account, you can deposit through your registered bank and then buy bitcoin using the trade menu there. Voila ! You got your own bitcoins now !
For people in Europe, you can go to eToro or bitpanda.com to deposit your Euro and purchase bitcoin. Both of them support EUR bank deposit, so it would be convenient for European user to buy your first bitcoin there. They also support buying through credit and debit card.
If you are from Indonesia, you can go to indodax.com , tokocrypto.com , pintu.co.id , or other local exchanges that support Rupiah deposit. After registering to the exchanges, you can start KYC and deposit your money to buy cryptocurrency. But not all of them support deposit through deposit, most of the user use local transfer bank because it is easier to do so.
For user from Japan, you can go to liquid.com as it is one of the biggest japanese crypto exchange. You can use JPY to deposit and buy your bitcoin there. It is very convenient for japanese user to buy your first bitcoin there. Liquid also provide its user to deposit using credit card. It has the best liquidity for BTC/JPY trading pair compard to other local exchanges.
For those who coming from Australia, you can use swyftx.com to buy your bitcoin using AUD deposit from local bank. They accept deposit using local bank, so it would be much faster and easier to buy your first crypto through swyftx if you are coming from Australia.
How to buy bitcoins on cash app
Another convenient method to buy bitcoin is using Cash App. Now cash app provides its users to have access to bitcoin. Users can buy bitcoin right from Cash Apps platform.
If you have some deposit in your cash app, you can go to Bitcoin tab in the cash app home screen. After that type buy and put the amount of btc you want to buy. Enter your PIN and then confirm. You will get your own bitcoin in your cash app wallet. Also cash app provide several tools like auto invest into bitcoin so you can buy bitcoin regularly with scheduled period.
How to buy bitcoins from paypal
PayPal is one of the popular platform used by people worldwide to pay products online or transferring money. Recently in the last year they announce their support for their customer to buy bitcoin through their apps. Many people opted to use Paypal to buy their first cryptocurrency. This method is very popular since there are a lot of people in the internet already using paypal as one of their payment service.
Using paypal to buy bitcoin is very easy. You can follow this steps if you want to buy bitcoin using paypal :
- Login to your account , then choose cryptocurrency in top right of your dashboard
- Select bitcoin , and then “buy”
- Input how much you want to buy
- Select payment method
- Click “Buy” button
- Wait your bitcoin arrives in your account
Bitcoin , trade or hold ?
After owning bitcoin , you probably wonder what do i need to do with my bitcoin? There are at least 3 way you can utilize your bitcoin.
First, you can use it as payment services. If the shops you are living accepting bitcoin as a payment (which is often found in U.S., Canada, El Savador, or Spain) , you can use your bitcoin as a payment method. Usually, shops often offer special rates for those who pay with bitcoin.
Second, you can trade your bitcoin against other cryptocurrencies. Trading bitcoin against other cryptocurrency is popular among crypto traders, because by this way they can increase their overall holdings of bitcoins. Selecting which cryptocurrency to trade against bitcoin that we predict will scale better in the future might increase your bitcoin value
Third, you can hold onto your bitcoin. Some people believe that cryptocurrency will be big in the futures. The technology behind it is very fascinating and incredible, which might help human living with the futuristic technology. You can hold onto your bitcoin and use it later on in the future.
Bitcoin Price Prediction
Interest over bitcoin is surging again in the past 3 years. This indicates that more people is being interested about bitcoin than ever before. More people acknowledging bitcoin networks is a positive support for bitcoin network growth. The more people understand about the technology behind bitcoin, the more people interested and try to get their hands on bitcoin.
Since you are already early adopters compared to the new one, this will be an advantage for you to hold and own bitcoins and cryptocurrency.
There’s something unique correlation between bitcoin network and its price. Bitcoin network has something called mining difficulty, which shows how much computing power to verify the transaction within network. The higher the difficulty means it is more resistance to attack , since attacking network requires more power if difficulty is high. This difficulty has positive correlation with bitcoin price. Since the network is more secure, people tend value bitcoin network higher, even though it is not 100% correlated, but it is highly correlated.
As the popularity growth overtime , it is expected for bitcoin network also to grow. Even though no one can predict the future, but based on historical data and modelling, there is a chance for bitcoin price to keep surging as the popularity and network usage grow overtime.
I want to trade, but i dont have good skills and strategies
Don’t you worry. There are some methods for newcomer to trades without having prior knowledge but still can produce quite stable profit. There’s at least 2 kind of trading strategy which is often used by the professional or even hedge fund to trades their holding.
First one is for low risk trades, which is hedging your portofolio. By hedging your portofolio, you will protect your crypto value while recieveing constant profit from funding fee market gives to your hedge position. This strategy called Spot-Futures Arbitrage Trading. The only one platform that gives you tools for trading using this strategy is Pionex. In Pionex, you can utilize Spot-Future arbitrage with very low risk and get way better profit around 15-30% APR at average. In the history of the bot runnig, it has 100% uptime and historically always deliver profit in yearly term. This is one of the best strategy to slowly grow your cryptocurrency portofolio.
Another strategy is Grid Trading. Utilizing free bots from Pionex, you can trade automatically 24/7 in your preferred trading price range. Since it will trades your position in grid fashion, you will gain as long as there is volatility in the market. Learn more about grid trading here : https://www.pionex.com/blog/pionex-grid-bot/