Bitcoin has been such a revolution in the cryptocurrency market “, and it is one of the hot long-term investment stuff in the digital era. Availing your first bitcoin might sound a challenging task as cryptocurrency is a pretty complicated term, but it is not. The traditional method to acquire bitcoin mining is no longer efficient and productive for the newbies.
Bitcoin mining is unsuitable for beginners at first glance, and that is one of the most prominent reasons why you need to consider buying a bitcoin. Mining activities are a bit challenging and require tons of effort to be invested in, and that is where the magic lies in buying a bitcoin. There are several trustable exchanges through which you can buy your first bitcoin.
Buying a bitcoin is an easy task, and you just need few essential things on your bucket list like your government-issued Identity card, photo, utility bill, and few other accessories. There are only a few steps that you need to take in order to accomplish the task, so without wasting any dues, let’s dive straight into those crucial and handy steps.
Plump for reliable exchange
There are basically two effective methods through which you can avail your first bitcoin, one is mining, and the other is buying a bitcoin; as mentioned ahead, mining is not successful for beginners, and the only worth option you are left with with with is buying a bitcoin. You are allowed to buy a bitcoin from a trustable exchange only, and in order to ensure that you are investing your resources on an authentic platform, you need to take care of few aspects.
Reliable exchange renders you tons of features that distinguish them from the rotten eggs. However, some trustable business offers services to some specific regions. Bitcoin exchange that fascinates you the most must show the benefits of trade in your area. Payments are one of the most crucial aspects in terms of buying a bitcoin; choose the reliable exchange that renders a suitable transaction method.
The time you opt for a reliable and trustable exchange, complete the KYC process at the spur of the movement. The users are allowed to follow few steps in the apple pie order to avail of fruitful outcomes. The first step is to create a user account on the trustable exchange and then move to the know your customer process. As mentioned ahead of that, you need a few essential documents and elements in your bucket list. Blaze the trail by uploading your government-issued identity in the KYC process
Along with a government-issued identity, a photo of the user holding a paper having an exchange name and date written is necessary. The KYC process is not a matter of seconds as it will consume few minutes to few days, totally dependent upon the trustable exchange and online portals. However, bitcoin exchange with 10-minute verification is also present in the field.
Opt for the payment method
After the completion of the KYC process, you are just a few steps away from getting your first cryptocurrency king. Transactions are the most crucial phase in buying a bitcoin, as there are thousands of payment methods through which you are open to making an exchange. However, users are allowed to make transactions and exchange even through the traditional banking method.
A trustable exchange forum like https://crypto-engineapp.com/ offers you some great information about bitcoin. Moreover, some platforms allows you to set up your bank account through some basic steps. The conventional methods are more convenient and accessible, but it’s up to you which payment method you choose in order to buy your first bitcoin.
Avail your first bitcoin
The last step and you will get your first bitcoin in your cryptocurrency wallet. The time you choose the payment method you are comfortable with, the user interface of the exchange will ask you whether you want to buy bitcoin from the exchange itself or the other individuals that have availed the premium membership of that trustable exchange. It is best if you buy the bitcoin from the exchange authority as it is exceedingly safe.
The above mentioned are some of the crucial steps which you have to follow to get your first bitcoin in your wallet.