Buying Bitcoin

Buying Bitcoin - step by step from scratch

Are you interested in buying Bitcoin for pouds, euros, or dollars?

Before you decide to buy Bitcoin (BTC) it’s definitely worth knowing what Bitcoin really is. It is the first electronic currency invented in 2008, based on already known blockchain technology. The creator (creators?) of Bitcoin is not known to this day and hides under the pseudonym Satoshi Nakamoto. In 2009 the first transactions using this cryptocurrency were registered and the first Bitcoin exchange – Bitcoin Market – was created.

Although it is obvious that buying Bitcoin was not easy then. It was much easier to just start mining it than to buy it on the stock exchange. Despite the fact that Bitcoin is the first and oldest digital currency, it is still considered to be one of the best cryptocurrencies, rankings that we publish regularly confirm this. Maybe the oldest digital currency is not at the forefront or even in the TOP 5 best cryptocurrencies, however, the mere fact of being in these rankings confirms its quality.

how to buy bitcoin
buying bitcoin

More information on the first digital currency

Bitcoin (BTC) is a cryptocurrency based on open source software and a peer-to-peer network, while the blockchain network on which it is based uses the SHA-256 encryption algorithm. All transactions are fully anonymous, fast (about 10 minutes) and secure. The network is completely decentralized and distributed, what means that no one has direct control over it. You need a wallet to store Bitcoins, or you can keep them on your account on the cryptocurrency market. More details and informations You can find at official website bitcoin.org

buying bitcoin (btc)

Where is it easy to buy Bitcoin for pounds, dollars or euros?

In the first years of its creation the purchase of Bitcoin (BTC) was not so easy. Just a few years ago only a few of the largest bitcoin exchanges enabled it. Some quickly ended their lives, other endured and became a good place to buy bitcoin for euro, dollars and pounds. Currently Bitcoin can be bought on many different exchanges. The easiest way for British is to buy Bitcoin for pound (GBP) on the leading European cryptocurrency exchange – BitBay. Registration of a free account is possible after clicking the button below:

cryptocurrency-and-bitcoin-exchange

Beginnings and first transactions

The Media became interested in Bitcoin by the turn of 2013 and 2014, when its value exceeded $ 1,000 for the first time. At the turn of 2017 and 2018 people deciding to buy Bitcoin had to take into account a price exceeding $ 15,000 and up to $ 20,000. Currently (February 2021) the purchase price of Bitcoin is around $ 8,000 and the capitalization of the entire currency is around $ 140 billion.
Today the purchase of BTC is possible on many cryptocurrency exchanges, e.g. OKEx, Bitfinex, GDAX and Bitstamp (for dollars) or on the Kraken trading platform (for Euro) and Bitflyer (for Japanese Yen). The number of cryptocurrency exchanges that enables the purchase of Bitcoin is still growing. It is hard to estimate accurately but at this point there are certainly several dozen of them all over the world. The first digital currency is also available in numerous smaller so-called Bitcoin exchange offices.

You can also buy it elsewhere. For example, the Binance exchange is quite good and cool, where you can register by clicking this link.
From our experience, we also recommend the European BitBay cryptocurrency exchange, which allows you to buy bitcoin for pounds (GBP) quickly and easily.

Buying Bitcoin? What price will be good?

Analysts predict that price of Bitcoin (BTC) will grow in coming years.
The reason for it is, first of all, a limited amount of this currency – 21 million and constantly growing interest. Institutional investors are also increasingly interested in buying Bitcoin. There is growing talk about the wider use of this electronic currency. From the point of view of technical analysis, its value is still in an upward trend. Various technical analyses of the future exchange rate of Bitcoin can differ from each other, they could be interesting, but also often wrong.
That’s why it’s so difficult to answer when it’s the perfect time to buy Bitcoin. However, it is worth following the behavior of the first cryptocurrency exchange rate. It sets the trend and direction in this industry. Therefore, Bitcoin value increases have a positive impact on the entire cryptocurrency market.

buying bitcoin for dollars
charts

Be careful!

When you see posts like “to the moon” or that “the rocket has flown away” or “the train is leaving the station” … be careful. It is probably too late to buy Bitcoin or another electronic currencies. It is worth waiting one, three, or six months, or even a year or two for the biggest holes and support lines. I always set myself only slightly above the lowest, more or less sure support lines. This makes buying Bitcoin a bit more reliable in the context of profits. The last such support were USD 3500-3800.

The use of Bitcoin payments is increasingly widespread in many industries. We invite you to read the article about where you can pay with Bitcoin. There is a growing interest of many corporations using blockchain networks, it seems that there is still a lot ahead of us. An interesting fact is that Bitcoin payments were possible for some hotels or services during the Football World Cup in Russia. Although in recent years buying Bitcoin (BTC) has become easier and more popular, you should still be very careful in this matter.

daily chart
paying by bitcoin

Bitcoin ATM – another way to buy Bitcoin

Buying Bitcoin (BTC) can be done using a Bitcoin ATM. This is nothing but a cryptocurrency ATM that allows secure, fast and convenient transfer of FIAT currency to Bitcoin. In addition, Bitcoin ATM is a place where you can buy Bitcoin anonymously, without verification.

There are two types of Bitcoin ATMs where you can buy Bitcoin. The first is one-way ATM, that allows you to buy BTC for cash. In turn, two-way ATMs allow you to additionally sell cryptocurrency and exchange it for cash.

Bitcoin ATMs are free-standing machines located in most major cities, most often they can be found in galleries, shopping malls or around the main transport hubs in a given city. Their great advantage is the ability to buy Bitcoin anonymously without having to register a user account. The only data that is provided when using the Bitcoin ATM is the e-mail address and wallet address.

Transactions via Bitcoin ATMs are extremely secure. In addition, Bitcoin ATMs guarantee a fast transaction rate. After buying Bitcoin the cryptocurrency will appear in your wallet within a few minutes of completing the transaction.

How to buy Bitcoin in a stationary Bitcoin ATM in 2020? Just slip the banknotes into the machine, select the wallet address to which the purchased Bitcoin will go. You can enter the wallet address by hand or scan the QR code. If you do not have your own wallet, the Bitcoin ATM will generate a new address and private key, and place the funds you have purchased there

Buying Bitcoin in an exchange office.

A bit like a Bitcoin ATM, the Bitcoin currency exchange office allows you to buy BTC for pounds (GBP) quickly and conveniently, while maintaining minimum of formalities.

Cryptocurrency exchange offices are online platforms that offer users the opportunity to sell and buy Bitcoin among themselves (P2P exchange offices) and through the exchange office. The times of anonymous cryptocurrency purchases in exchange offices have passed irretrievably. However, the cryptocurrency exchange office allows simple creation of a user account and fast transactions.

There are cryptocurrencies exchange offices on the market that allow anonymous purchases of up to GBP 1,000. If you want to carry out larger transactions, the exchange office is obliged to verify your identity – e.g. by checking the data on an ID card. Buying Bitcoin in an exchange office is one of the most popular ways to obtain cryptocurrency. This solution provides simple and intuitive execution of transactions without the need for long and complicated registration, which takes place on the cryptocurrency exchange.

When choosing a cryptocurrency exchange office to buy Bitcoin (BTC), you should verify the transaction commission imposed by the bureau. In addition, it is necessary to become familiar with technological and legal security of the platform and the quality of the support offered. The refresh rate of the cryptocurrency market value is also important. It should oscillate around 10 seconds, which will guarantee the current price during the transaction.

Other informations

I could write and write that buying Bitcoins is such a great thing. All in all, I don’t know it 100%. That is why I try to not to recommend any particular moments when buying Bitcoin is supposed to be more or less profitable.
I try to base all my statements and analyses on possibly certain assumptions and the knowledge I have gained so far. When I see the right moments for the buy/sell reaction I obviously emphasize them.
Often in the articles, instead of answering the question whether this moment is the most appropriate time to buy Bitcoin, I prefer to present chances of particular scenario – expressed in percentage, as I see it. For example: 70% decreases, 30% increases, therefore, certainly not the best time to buy cryptocurrencies. Are You looking for other investment opportunieties maybe You will interested in dividend joint-stock company with potential for development and growth
I could write a lot about the various pros and cons of this electronic currency. However, you have to decide for yourself whether buying Bitcoin at this point will be a good investment for the future.

Buying Bitcoin (BTC) – (FAQ)

• What is Bitcoin?

It is the first cryptocurrency to use blockchain technology for data encryption and processing. In other words, it’s just an anonymous, encrypted electronic currency.

• Where to buy Bitcoin?

There are many places where you can buy Bitcoin. These include cryptocurrency exchanges, exchange offices and Bitcoin ATMs.

• How to buy Bitcoin?

Most of the available options require an account and its verification. All you need to do is select a trading platform or an exchange office, and then, depending on the available payments, make a transfer or pay by card.

• How to earn with Bitcoin?

There are several ways. The most popular is to invest a certain amount and sell it at a higher price over time. The second is earning by recommending exchanges and exchange offices to other users, earning commissions and bonuses depending on the regulations of a given platform.

• How to invest in Bitcoin?

Carefully and thoughtfully. Allocate only a portion of your capital, amount that you can possibly lose. Try to buy Bitcoin at as low price as possible and sell it at higher price.

• Where to sell Bitcoin?As in the case of buying, the easiest accessible places where you can sell Bitcoin are cryptocurrency exchanges and exchange offices. You can also sell it directly and transfer it between users.

• Is it possible to buy Bitcoin without verification?

Generally not. At least on most major cryptocurrency exchanges or Bitcoin exchange offices. The best way to buy Bitcoin without verification is to perform transaction individually, bypassing exchanges.

• Where is it possible to buy Bitcoin for cash?

In the traditionally understood way, buying Bitcoin for cash is theoretically possible, but in practice it is very rare.
Actually, buying Bitcoin for cash does not take place and is made electronically rather than classically.