Bitcoin is a digital currency that is an excellent medium of exchange and a store of value. This digital money came to the limelight in 2009 and did gain mainstream acceptance in 2017. This virtual asset is decentralized, meaning it is wholly independent of manipulation or regulation by any financial institution or government. Also, this electronic asset has an inbuilt infrastructure known as blockchain technology that helps validate and record transactions. Because of blockchain technology, these digital money transactions are fast, secure, and more transparent.
There are numerous ways people can add this electronic asset to their investment portfolio. Conversely, this digital money is a lucrative and profitable investment with a higher return potential. So, here are practical ways you can add this virtual asset to your investment portfolio.
Financial Apps
Major financial apps like PayPal and Venmo allow one to trade this virtual money. PayPal eases the purchasing or selling this electronic currency using the same app one trusts with their online payments. These financial apps charge their users differently.
Traditional Brokers
A few traditional ventures are also joining the Bitcoin market. These traditional brokers allow people to buy futures contracts on this electronic currency and trade this digital money directly. Also, if you want to trade this electronic asset now, you will pay a varied competitive commission. These brokers also provide a whole range of other tradable securities.
Bitcoin Exchanges
A Bitcoin exchange is an online marketplace where traders can buy and sell this virtual currency using fiat money or other Altcoins. This virtual money exchange intermediates between a Bitcoin buyer and a seller. To transact with the brokerage, traders must register with a brokerage, including theĀ Bitcoin Prime, and undergoes a series of authentication processes to authenticate their identity. Once the authentication is successful, the brokerage opens an account for the user, who then has to transfer funds into the account before they can purchase this electronic asset.
Also, honest exchanges offer their clients digital wallets to securely store their Bitcoins. The fees involved at various platforms can differ markedly, so it is essential to look around and find which brokerage offers the best combination of price, crypto choice, or service. Find an exchange that accepts your preferred means of payment when purchasing this electronic currency with fiat cash.
Trading Apps
You can purchase this electronic currency with no direct commission using a trading app. However, using a trading app at the end, you will have to pay for it with a spread markup. The best Bitcoin trading app depends on your personal needs since there are many excellent Bitcoin trading apps in the market. However, before you download an app, think about everything you want the app to help solve and fulfill.
A reliable trading app should have excellent customer service because no one wants to wait for the money to arrive in their accounts. The app should have excellent 24 hours customer service one can consult. Moreover, the trading app has impressive security features.
Bitcoin ATMs
These virtual money ATMs are fast-rising and growing services that help people to purchase this electronic money securely and fast. While buying this electronic currency via a Bitcoin ATM, you will pay much more in commission than elsewhere. Moreover, some ATMs will allow you to purchase this electronic currency and sell the asset using cash or a debit card. However, you may need this digital money wallet to make the transaction.
Final Thoughts
You can add this virtual money to your investment portfolio, including what is listed above. Therefore, find the best way that works for you to add this electronic currency to your investment portfolio.