By: Mantri Prasad Markandeyulu
Part – 2 A Blog Series On Cryptocurrency
How to Buy Bitcoin
You can buy bitcoin through exchanges and stockbrokers, or from other owners. Regardless of where you get it, consider the risks of investing in digital assets. Buying bitcoin or other cryptocurrencies can be a fun way to explore an experimental new investment. But it’s also true that any investment in cryptocurrency should carry a warning label like cigarettes: “This product may be harmful to the health of your finances. Never buy more than you can afford to lose.
” The value of bitcoin — the world’s first and most popular cryptocurrency — has risen from $3,237 in December 2018 and is now breaking new record highs (see price below). Like all cryptocurrencies, bitcoin is experimental and subject to much more volatility than many tried-and-true investments, such as stocks, bonds and mutual funds. One rule of thumb is to invest no more than 10% of your portfolio in individual stocks or risky assets like bitcoin. If you’re new to investing, find out more about how to invest money.
Current bitcoin trading price The spot price for Bitcoin broke $50,000 for the first time on Feb. 16, 2021. Here’s the price in U.S. dollars to buy one bitcoin today: Data is pulled from Google Finance and may be delayed up to 20 minutes. Information is solely for informational purposes and not for trading purposes or advice. Buying bitcoin and other cryptocurrency in 5 steps
- Decide where to buy bitcoin. Cryptocurrency exchanges like Coinbase and a few traditional brokers like Robinhood can get you started investing in bitcoin.
- Think about how to store your cryptocurrency. Are you going to keep your bitcoin in a hot wallet or a cold wallet?
- Make your purchase. Figure out how much you want to invest in bitcoin.
- Manage your investment. Determine your long-term plan for this asset.
- Decide where to buy bitcoin There are a few different ways to buy bitcoin and other cryptocurrencies, including exchanges and traditional brokers.
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