Buy Bitcoin With Easy Steps And Find Out If It’s Worth Investing

• 1 Bitcoin has become more valuable than many other traditional means of investment.
• 2 eToro has emerged as one of the most popular destinations for Bitcoin investors. 

If someone talks about investing in Bitcoin, it would be no matter of surprise. It’s the most high-value cryptocurrency that has yielded profits to so many investors. However, making profits with any instrument isn’t as easy as it seems. And bitcoin is no exception in that context. However, they can easy find easy ways to put their money into it. So let’s delve into the buying option of Bitcoin on eToro.  

Steps to Buy Bitcoin Using eToro

Step 1: Account Creation

Open the eToro website and sign up using the email address and other information. The platform doesn’t complete the registration without verifying the user’s identity. Thus, provide all the information that the website asks for is necessary. 

Step 2: Deposit Funds

The next step is to enable the account with funds to do the buying. The user can click on “Deposit Funds” on the left-hand side of the navigation bar to do it.

Step 3: Place the Order

On the trading page, find “Bitcoin” and click “Invest”. The next step is to choose between “trade” or “order”. In trade, buyers place the order on the current market price. However, in “order”, for users to set a particular price level. The order takes place only when BTC reaches that price. 

Step 4: Download eToro Crypto Wallet

By downloading the eToro crypto wallet, users add an extra layer of security. Therefore, the platform suggests it to all its users. To do that, they need to open a portfolio and choose “transfer to wallet”. 

Use Different Payment Methods For Buying Bitcoins

On eToro, investors can buy Bitcoin using different payment methods. With debit/credit cards, bank transfers, or PayPal, they can make safe and swift payments. The users can link all these means to their account from the “Deposit Funds” section. 

As shown on the image above, they can choose the desired payment method. They can choose their preferred method, provide information and execute the transaction.

Factors That Make Bitcoin a Promising Investment

Investors must find some solid reasons before putting their money into Bitcoin. So, here are some facts that make it a prudent investment.

Price History

As per the earliest recorded price, Bitcoin was trading at just $0.10 in 2010. After three years, it made a remarkable jump to $250; projecting a growth of over 250,000%. 

In 2017, its value reached from $1000 to $20,000 becoming a sensational piece of news. Since then, Bitcoin’s value has been on a tear. However, investors must know that it has seen significantly long-lasting downtrends too. 

Nevertheless, Bitcoin sustained the downtrend and emerged with a price surge every time. People who invested in Bitcoin in 2014 have witnessed their gains increasing by 6700%. Thus, it won’t be a big surprise if BTC goes through a price decline again. The investors will still find a reason to be hopeful. 

A Decentralized Asset

Decentralization has gained traction among the finance circles. It has shown a new way for people to execute their safekeeping and use their money. People are liking this new alternative due to its transparency, anonymity, and safety. Due to this, even governments are thinking of adopting decentralized methods of finance. 

Many developed and developing nations are working on Central Bank Digital Currency (CBDC). It would be a regulated currency working on blockchain and supported by the government. Hence, it’s safe to say that investing in a decentralized crypto is a wise choice. 

Limited Supply 

Like all precious metals, minerals, and fossil fuels, Bitcoin has a limited supply as well. Once it hits the 21 Million threshold, miners won’t be able to mine it anymore. As per the current pace of mining, it is expected to take place in 2140. The finite supply makes this crypto highly valuable among investors. It also means that the value of BTC will only rise with time. People who invest in it right now are likely to reap good profits in the future. 

Medium of Exchange

Some notable service providers delivering mainstream service accept payment in Bitcoin. Though the prominent means of exchange is fiat now, crypto is catching up. In the future, Bitcoin can gain the status of a legal tender. Crypto can make regular transactions and remittances much cheaper. Although there are challenges in terms of speed, they may be resolved very soon. 

Bitcoin needs no introduction, it’s the world’s first and the largest cryptocurrency. Launched in 2009, Bitcoin has acquired value over the years. Today, it’s not just a precious crypto but a value investment when compared to all the instruments. Maintaining a value of around $30,000, its market cap has reached $706.29 Billion. 

The figures and history encourage every investor to indulge in this asset. eToro has emerged as one of the most popular platforms for buying it. 

But before putting money into this precious asset, they must do a full-scale analysis. Keep in mind that the crypto market is highly volatile and many other risk factors are involved too. 

Disclaimer

This article is only for information purposes and does not promote any type of investment, it is strictly suggested to do your research before investing or to consult with investment professionals.