Published on December 15th, 2021
Bitcoin is the most prominent cryptocurrency market because the bitcoin contribution to the whole cryptocurrency market exceeds 50%. Furthermore, there are over 9000 altcoins that are in use in spite of bitcoin.
You may be aware of the fact that the second most popular altcoin Ethereum does not even a fraction of bitcoin’s market cap or trading volume.
The market cap for bitcoin was threatening to stop the record of $1 trillion. However the presence of these altcoins, as well as the recent market crash in cryptocurrency have affected the market value of bitcoin by an immense amount.
But, it’s considered an appropriate moment to purchase your first bitcoin unit , even if you’ve not made a purchase before this event.
Additionally you can use an software such as bitcoin digital that can help you to achieve massive results on your bitcoin journey.
The only question you have to ask when purchasing bitcoin is whether it’s difficult or simple. Here is everything you need to know about buying your first bitcoin. Let’s take an overview.
Do You Need Help To Purchase Bitcoin?
The purchase of bitcoin is the best option since the price of bitcoin is lower, and it is predicted to rise over an ephemeral time. But the primary concern of new traders and investors is whether it’s difficult to buy bitcoin.
It is not difficult since you can purchase bitcoin by following a few simple steps. It may appear to be an extremely difficult task but it’s actually the easiest option. Here are a simple steps to assist you in buying bitcoin effortlessly
Take some look.
Opt To Exchange!
There are two ways to purchase bitcoin. The most popular one is to purchase bitcoin from a bitcoin holder at the current market rate while the other is to purchase bitcoin through an established exchange.
The circumstances were uncovered that investors were swindled by shady holders and sellers This is why it is strongly recommended to purchase bitcoin on an exchange site.
There are numerous bitcoin exchanges that will assist to purchase bitcoin in the first instance, without any hassle.
But, it is worth selecting the top-of-the-line, reliable exchange that provides the best services at a low cost.
Be sure the reputable exchange has services available in the area you are in and provides the payment method you want to make an exchange. Read the Bitqt review here.
KYC is the most crucial feature of the secure bitcoin exchange. It is also featuring centralized features since decentralized exchanges do not have to be subject to observing your customer’s process.
The KYC process is a confirmation progress of the user’s identity to help them embrace the security and legitimacy of a reliable bitcoin exchange.
KYC is based on a government approved ID of the applicant. It could be your driver’s license or passport. It is all you need is a photo of your government-approved ID, and a trustable exchange also requires the image of the user with the identity issued by the government in front of the camera.
The validation process can be lengthy as it’s entirely dependent on the verification team of the explicit trustworthy exchange.
There are only a handful of reliable exchanges that can verify the data within a short amount of time. Some of them take a huge amount of time checking the databases of the users.
KYC is done after you have signed up for an account on the platform; the process of creating an account is straightforward and only requires few information to be stolen. After account creation the trustable exchange will recognize your customer process.
Connect Your Payment Method
In the beginning the requirement is to choose the most reliable exchange that offers the payment method you prefer.
Once you’ve been verified with the trustworthy exchange, you will be able to connect any payment method that the exchange offers.
You can link your debit and credit card as well as you can connect your bank account using the trust-worthy exchange.
After connecting your bank account or payment method you prefer, click buy bitcoin to purchase your first bitcoin unit.
It is strongly advised that once you have purchased the first Bitcoin, you transfer it to your bitcoin wallet. These are the fundamental steps to purchase the first Bitcoin unit.