In the 2017 crypto bull market, Bitcoin (what is bitcoin) reached its peak to $20,000, and tales about Bitcoin millionaire constantly appear. Cryptocurrencies trading, bitcoin trading in particular, becomes a hit. Many people involved in the crypto market with the dream of becoming crypto millionaire overnight. Landed on this text, you might be interested in BTC and want to know how to make profits on it. In this guide, we will introduce you how and where to buy bitcoin. Moreover, we will share some opinions on how to make money with bitcoin.
Where to buy bitcoin?
Cryptocurrency or Bitcoin exchange is the easiest place that you can buy BTC. In addition, Bitcoin exchange is somehow a bitcoin wallet where to store the BTC you hold. If it is your first time to purchase BTC, you should choose a cryptocurrency exchange platform that support fiat-to-crypto transaction, which means you have to buy BTC with fiat currency.
Here are some popular crypto exchanges for you to buy BTC：
Bithumb, the most popular exchange in Korea. It allows users to exchange KRW for Bitcoin.
Remitano is a decentralized trading cryptocurrency trading platform where you can directly buy BTC and ETH with various kinds of fiat currency.
Luno, headquartered in London, is a feature-rich exchange which supports you to buy BTC and ETH with several national fiat currencies including EUR, IDR, MYR, NGN and ZAR.
Foxbit is the largest cryptocurrency exchange in Brazil, which supports users from Venezuela, Chile and Vietnam to trade BTC with BRL.
Gemini is a licensed cryptocurrency exchange where you can buy BTC with no transaction fee.
How to Trade Bitcoin?
When finished choosing exchange, sign up an account in the selected exchange. You can register with email or phone and complete the registration verification. In general, you also need to do KYC which requires you to submit ID card and get identity verified.
Cryptocurrency exchanges offer various payment methods. You can buy BTC with credit card, debit card, Paypal, wire transfer and etc. Using credit card may come with a premium processing fee, while purchasing via wire transfer may take long to complete it.
In some exchanges, you can directly buy BTC with fiat currency, for example Euro to Bitcoin and USD to Bitcoin. If the kind of fiat currency is not supported, you have to buy USDT firstly, then, exchange USDT to BTC.
Buying BTC means you trade on BTC spot. For long-term investment, you can withdraw it to your wallet and hold it until the price of BTC goes up to the recorded high. For short-term investment, if you want to make profits easily with BTC, you can turn to BTC futures contract.
How to Make Money with Bitcoin?
According to the current trend and crypto market, the price of BTC is showing a sign of volatility. With the growth and fall of BTC, you can easily make profits on BTC futures contract rather than the spot. Cryptocurrency futures contract enables you to earn money when both price rising or falling. It also allows you to leverage your trading with small amount of capitals.
In Bexplus, you can trade BTC futures with up to 100x leverage. When the price of BTC rises or falls 1%, you can get 100% profit. In other words, if BTC’s price has great up or down, you can earn much more provided you made the right trading decision.
Important Note: To know more about the trading tricks on futures contract and make money with Bitcoin, you can contact our customer service (email@example.com) for help.
How to Store Bitcoin?
In cryptocurrency world, you can store BTC or other altcoins in the cold wallet which is similar to the bank account to fiat currency.
Cold wallet is a digital storage which provides you a private key as well as a public key. Public key is the address of your wallet, like the bank account number, while private key is the password. Therefore, it's important to keep the private key in a secure way.
Essentially, cryptocurrency exchange is a large and highly secure cold wallet, equipped with multisignature encryption and more blockchain-based technology. In addition, some exchanges also offer insurance for the assets deposited in, which means you can get the compensation when crypto token being stolen.
All above is about how to trade and make money with BTC. Whether to plan to start the journey of Bitcoin trading is totally up to you. If you did, you should notice both the profits and loss may bring to you by BTC trading. Stay vigilant and keep a clear mind!