Investing in bitcoin is simple and easy, but how should a beginner start? Does a beginner already have a bitcoin in order to invest? Or they require transferring money to convert it into Bitcoin? A beginner may be confused about the whole process of investing in bitcoin and may have multiple questions in mind. Well, investing in bitcoin or any other cryptocurrency isn't a difficult task, but it requires knowledge and effort to choose the right platform. Investing in bitcoin is much like investing in stocks, but the only thing that is to worry about is the volatile market of bitcoin. Get independent by making investment in bitcoin with bitcoin mastery to know about Bitcoin around the globe
Investors can invest in bitcoin through investing sites or bitcoin exchanges. These are online platforms that are specially built to make the investing process easy for beginners and expert investors as well. There are few steps that investor needs to follow at the beginning that include:
- Open an account at a crypto exchange or any trading platform.
- Deposit funds in your exchange account through your bank account.
- Buy bitcoins using those deposited funds.
Some trading platforms allow their users to directly buy bitcoin that is referred to as a direct deposit of bitcoin in their trading or exchange account. The method of investing in bitcoin varies across the countries, and this is because every country has different regulations and laws. Let's check out the list of the most popular trading or exchange platforms that allow bitcoin and other crypto investments.
List of top trading or exchange platforms
Coinbase is the most popular platform that allows investing in bitcoin and other cryptocurrencies directly using fiat currencies. Coinbase allows its users to purchase more than 40 digital coins, including Bitcoin, Litecoin, Ethereum, and more. Moreover, the platforms provide interest to users on their investment, and users can earn rewards in the form of the digital token by completing diverse activities on the platform.
BlockFi is a crypto investment platform that allows its users to lend their crypto holdings and earn interest on them. Investors can take the maximum advantage of earning interest on their holdings instead of selling them. This is relatively easy for investors who borrow holdings as they can earn gains, and by those profits, they can pay interest.
Gemini is a great platform to invest in cryptocurrencies, and the main focus of this platform is to provide excellent transparency and security to its users. Gemini works on protecting the interest and data of their customers and isn’t vulnerable. It is one of those platforms that propose FDIC protection on deposits made by fiat currencies. Currently, the platform is also supporting DOGE.
Robinhood isn’t designed primarily as a trading platform, but it allows users to trade cryptocurrencies for free on their platform. Currently, this platform is only available in few states, and it only allows users to trade the two most popular cryptocurrencies like Bitcoin and Ethereum. They are planning to expand the platform and enable more cryptocurrencies to be traded. There are quite a few limitations on this platform, but the best thing is that it's completely free.
Kraken is known to be one of the most original trading platforms that allow its users to trade and invest in a large number of cryptocurrencies. Kraken allows margin trading. It is not easy for any platform to get in the list of original exchanges, and Kraken is one of them. It also enables users to trade in riskiest tokens like DOGE and others.
Binance is one of the best platforms if you are looking to invest in some most popular cryptocurrencies. It is specially designed for professionals, and therefore, beginners may face difficulty in using it, but definitely, Binance is one of the robust trading platforms. You can use it on a desktop, and it doesn't have a mobile application.
The Bottom Line
The investing process in cryptocurrencies is quite easy, but choosing the right platform will make your journey easy. The only difference between investing in bitcoin and stocks is that users need first to purchase bitcoins, and then only they can trade bitcoin.