Investing in Bitcoin is not that complicated as you might think.
I got involved with Bitcoin in late 2016, and I must say it was just the right time.
But after 2016, Bitcoin has seen lots of ups and downs, ultimately making the current time as the next best time to invest in Bitcoin.
I know why you are here:
You have made up your mind to invest in Bitcoin, and that’s a great decision I must say, but just in case if you are one of those skeptics, I recommend you to read out this guide: Is Bitcoin A Good Investment In 2019?
For the non-skeptics, I am going to answer the following questions in this guide:
- How To Invest In Bitcoin?
- Where To Invest In Bitcoin?
- Why To Invest In Bitcoin?
- How Much To Invest In Bitcoin?
- Should You (I) Invest In Bitcoin?
So let’s get started with:
How To Start Investing In Bitcoin Stock?
Bitcoin is an amazing technology, and it is a no-brainer not to invest in it, primarily after you have understood what it is?
Bitcoin is a non-correlated, asymmetric return asset. By putting it in your portfolio, you can reduce the risk profile, increase sharpe ratio, and produce a material amount of impact on overall portfolio with a single digit allocation.
Essentially, it improves your portfolio 🙂
— Pomp 🌪 (@APompliano) May 19, 2019
But still, many investors remain eluded from Bitcoin and are missing on the golden opportunity to 10x or 100x their money. Yes, these returns are still possible if you play smart.
So to help such eluded investors, I am writing today’s guide.
If you are one of these, you may take this guide as your blueprint for Bitcoin investing.
Of course, you can customize this guide according to your wish, but there are two fundamental aspects of Bitcoin investment that I want you should never alter or change, no matter what !!
Here are those aspects:
- Choosing reliable Bitcoin exchange to buy Bitcoin
- Secure wallet to store your bitcoins
No matter what happens, you should not compromise on your Bitcoin exchange and Bitcoin wallet because if you do, you will surely lose your investment before savoring its joy.
You need to understand that Bitcoin is not like traditional assets. Instead, Bitcoin is wholly your responsibility which you should own with your Bitcoin private keys in your control.
Bottom line: Failing to control your private keys is synonymous to losing your bitcoins.
Now that you know the essential pre-requisite aspects of investing in Bitcoin, let’s talk about each of these aspects in detail so that you are well versed in Bitcoin investing.
Where To Invest In Bitcoin?
Investing in Bitcoin is easy nowadays.
Back in the day when there were no Bitcoin exchanges, it was tough to invest in bitcoins. At that time, people used to coordinate on forums and private groups to invest in Bitcoin.
But now you have dedicated Bitcoin exchanges for each type of Bitcoin investor.
It doesn’t matter if you want to invest in BTC via fiat cash or bank transfer or even credit/debit cards, all these options are available for you now across the globe.
Here is the country-wise list of services from where you can invest in Bitcoin:
|UK & Europe||CEX, Coinmama, Coinbase, Binance|
Most of these exchanges allow you to buy bitcoin by depositing fiat currencies like USD, EUR or GBP on it. Here you need to do a KYC check and transfer your fiat currencies on their fiat linked crypto wallets. After which you can exchange fiat for Bitcoin.
However, I understand that not all the countries are covered in this list, and it can be likely that you don’t have any means to exchange your fiat currency in Bitcoin. For those users, here is the list of services that allow you to invest in Bitcoin using a credit/debit card:
I have used all these above-listed services, and I find Coinmama very swift in delivering bitcoins, and their customer support is also very supportive to new users like you !! That’s why I think Coinmama is the best way to invest in Bitcoin.
Some of you might not be having credit/debit cards and would like to invest in Bitcoin using cash. So for such users, I recommend LocalBitcoins.
LocalBitcoins is P2P Bitcoin only service that allows you to connected with on ground buyers and sellers of Bitcoin in 15000+ cities across 200 countries.
I have used LocalBitcoins 3 times by now, and it has been smooth.
Moreover, LocalBitcoins is a dedicated service for Bitcoin investments, and it acts like escrow in between, so you need not worry about the counterparty risk.
But be sure to check and engage only with reputed BTC traders by looking at their reputation score. Also, if you wish, you can read our Beginner’s guide on LocalBitcoins !!
So these are some of the best options using which you can invest in Bitcoin easily.
With time we will be updating this section as we find more reliable options for you to invest in Bitcoin. But for now, if you choose one of these services, then you should be good !!
Note: Unless you are from an alien country, you should be able to invest in Bitcoin using these services. But still if you are not able to understand how to invest in Bitcoin in your country then do let us know in the comments below, and we shall do everything to get you started with Bitcoin?
Now the next natural question that should arise in your mind after you have invested in Bitcoin is, how to keep it safe? And that’s what we are going to discuss in the next section.
How to invest in bitcoin in India?
Investing in Bitcoin in India has become a little bit tedious, especially after RBI severed the relationship between banks and cryptocurrency exchanges in India.
But Bitcoin is not illegal in India, and that’s why many services allow you to invest in Bitcoin in India in a peer to peer fashion. Some of these services are:
How to invest in bitcoin in South Africa?
South African has been especially interested in Bitcoin, and there are numerous ways to invest in Bitcoin in South Africa. Some of the Bitcoin services that allow you to invest in BTC using South African Rand (ZAR) are:
Investing In Bitcoin Mining
It’s 2019, and I wouldn’t recommend you to invest in Bitcoin mining unless you are willing to spend 100s and 1000s of US dollars up front.
Bitcoin mining became out of reach of individual investors long back in 2014-2015. In 2014-2015, cloud mining contracts used to work for individuals investors but no longer anymore.
Bitcoin mining is very energy and cost-intensive process that requires dedicated data centers and mining farms. That’s why now there is no point in investing in Bitcoin mining.
Instead, I would suggest you to either buy Bitcoin or earn Bitcoin by working for it !!
Conclusion: How to get started with Bitcoin?
I think by now you have got answers to your following questions:
- How to invest money in Bitcoin?
- How to invest in bitcoin and make money?
- How to Bitcoin? or How to get started with Bitcoin?
So now I want to tell you why I invested in Bitcoin?
I invested in BTC because I was blown away by the fact that money could exist outside the realm and control of governments. Bitcoin helped me question my understanding of money.
Eventually, I could find what money is? And what it should be & shouldn’t be?
Finally leading me to this conclusion that:
Bitcoin kills the incentive for which politicians politicize and bankers do banking !!
That’s why I HODL BTC and continue to encourage people to do the same !!
If you have any more questions on BTC investing, then feel free to shoot in the comments section below. And If you find that this guide is helpful, then do spread the love by sharing it on Twitter, Telegram, & Facebook !!
Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.
- How To Start Investing In Bitcoin Stock?
- Where To Invest In Bitcoin?
- Where To Store Your Bitcoin?
- Why To Invest In Bitcoin?
- Bitcoin (BTC) Investment Strategy 101: How Much To Invest In Bitcoin?
- When To Invest In Bitcoin?
- How to invest in bitcoin in India?
- How to invest in bitcoin in South Africa?
- Investing In Bitcoin Mining
- Conclusion: How to get started with Bitcoin?