![]() Some also let you pay via PayPal, with Coinbase also supporting Apple Pay. Most major platforms do offer the option of linking your bank account for wire and ACH transfers, as well as the option of linking a debit card. Choose a payment methodĮxchanges also vary in terms of the payment methods they support. Others also set minimums for account deposits via bank transfer. They should also check for the minimum account balance required by their chosen platform, since certain exchanges impose a minimum. Quick tip: New investors should check the fees charged by exchanges, since these can vary quite widely. ![]() These have the benefit of being more user-friendly than the average crypto exchange, although their major downside is that many don't let users withdraw their bitcoin. More inexperienced traders may wish to try a more general trading platform such as Robinhood. That said, other reputable - and regulated - crypto-exchanges include Kraken, Gemini, eToro, and. In the US, the leading crypto exchange by volume and customer base is Coinbase. These are online platforms dedicated to facilitating trades in cryptocurrency, usually by offering trading pairs (e.g., USD to Bitcoin) and usually by matching buyers with sellers. Compare platforms to buy Bitcoinįor most people, the best place to buy Bitcoin is on a crypto exchange. That said, at least some analysts suspect that its volatility will gradually decline over time, as its market grows and reduces its destabilizing reliance on leverage. Such swings make Bitcoin a highly speculative asset, one that should be considered only by traders willing to stomach a fair amount of risk. "Simple supply and demand for Bitcoin is the main reason why prices have skyrocketed over the past year."ĭespite having a fixed maximum supply, Bitcoin has shown remarkable volatility throughout most of its life with major fluctuations in its price. "What makes Bitcoin so special is that it has a finite supply of 21 million coins, with only a couple million left to be mined," explains Edward Moya, chief market strategist at OANDA's MarketPulse. On an economic level, Bitcoin's creator - the pseudonymous Satoshi Nakamoto - created it in 2008 as a form of "sound money," akin to digital gold. This data is collected into "blocks," which are linked together in a blockchain that cannot, in theory, be changed once written. In Bitcoin's case, people and organizations known as "miners" use computing hardware to calculate a code - known as a "hash" - that encrypts the data contained in transactions. This means it's a form of electronic money that secures and validates transactions via the use of cryptography. How to buy bitcoinīitcoin is a cryptocurrency. Here's what to know about investing in Bitcoin.
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