Since its launch in 2009, Bitcoin has remained the talk of the town and the entire cryptocurrency industry. According to market capitalization, it is currently the biggest cryptocurrency and doesn’t appear to be moving up anytime soon.
What is Bitcoin?
Before you think about purchasing Bitcoin, it’s crucial to educate yourself about the cryptocurrency. Bitcoin was developed in 2009 with the goal of providing an alternative digital payment method that would do away with the need for third parties to be involved in financial transactions.
In its most basic form, Bitcoin is a cryptocurrency that is created, stored, and transferred on a cryptographically secure database. Security is of the utmost importance, users are anonymized, and Bitcoin transactions are validated on the blockchain.
How to Buy Bitcoin on eToro?
Create An Account
Select a username, provide your email address, and create a password to create an account on eToro. Users who have just registered for a new account on eToro are required to authenticate themselves.
Deposit Funds
Click “Deposit Funds” from the left-hand navigation bar. After selecting the fiat currency you wish to deposit with and entering your payment information, click “Deposit.”
Buy Bitcoin
Go to the Bitcoin website and select “Invest.” Users have the option to “Trade” or “Order” here. In the former case, bitcoin is bought at the current price. With the latter, you can put in an order and have Bitcoin automatically purchased when its value hits a certain threshold.
Download the App
Consider downloading the eToro Money cryptocurrency wallet and keeping your Bitcoin there for extra security. Click on a position in your portfolio and choose “Transfer to Wallet” to move your Bitcoin to the eToro wallet.
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How to Keep Your CryptoCurrency Safe?
You must keep your Bitcoin secure after you’ve bought it. You can leave your Bitcoin and other crypto assets on the majority of exchanges and trading sites.
Some individuals possess unique cryptocurrency wallets or storage accounts that permit the transfer of specific crypto assets. These websites frequently feature a high degree of security, so your assets—including Bitcoin—are secure on the platform where you purchased them.
Some investors, however, would rather transfer their cryptocurrency holdings to an alternative storage option. One of the greatest solutions for storing cryptocurrency is a crypto wallet. Wallets enable you to send and receive Bitcoin while keeping it secure and easily navigable.
Conclusion
One of the most contentious technological developments of recent years is Bitcoin, but it may also present a strong chance for investors looking to diversify their holdings. Bitcoin might be a good option if you want to purchase more volatile assets to raise the possible risk return of your portfolio.
