Cryptocurrency is less than two decades old, and it’s already making a major splash in the world of finance and investing.
With the growing demand for digital currency, especially the original and most popular coin, Bitcoin, buying in has never been easier.
The first thing you need to buy Bitcoin is a platform that gives you access to the currency.
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Joining an exchange requires a verification process, similar to any financial institution.
P2P exchanges eliminate the anonymity you get with a regular exchange, but let you shop around for better prices, sort of like shopping on eBay.
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Crypto wallets can be “hot” — connected to the internet via desktop software, website, or mobile app.
You can buy Bitcoin with “fiat” currency — that is, traditional, government-issued money like dollars or euros — or in exchange for other digital currencies.
Depending on the exchange, you can make a purchase via ACH bank transfer, wire transfer, credit card, or debit card.
Newer apps make this easy by using a platform called Plaid, which securely and seamlessly transfers data among thousands of financial institutions.
Once you’re verified and have connected a form of payment, you can place orders on the exchange.
You can purchase fractions of a coin, though, and many platforms have minimum investments as low as $10.
Like with any investment, active trading in reaction to market shifts won’t get you far unless you really know what you’re doing .
The ease of buying and managing cryptocurrency has grown tremendously in recent years — faster than its reputation can keep up with.
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