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How to Buy and Sell Bitcoin Online in 2022?

2022-03-02 16:17:25
How To Invest In BTC In A Safe Way
Is it possible to achieve wealth freedom through cryptocurrency? This is extremely attractive for everyone. But is it something that can actually happen? After these years of transformation, the answer to this is now self-evidently clear. Cryptocurrency investment and trading will be relatively simple for experienced financial elites, but for ordinary people, it is still necessary to understand many aspects of the industry, otherwise, there will still be some danger of investing in a bewildering manner with little understanding. What do newcomers need to know about how to buy and sell bitcoin online? Don't worry, keep reading this article and you'll know.

Investing or trading in cryptocurrency may seem like a complicated task, but when you break it down into steps it becomes much easier. There are already thousands of different cryptocurrency types, and the most popular one is Bitcoin.

Bitcoin was created in 2009 and is a relatively scarce virtual currency. More than a decade has made this currency the most recognized and collectible virtual currency in the world, and it can even be used for payments. Other virtual currencies besides bitcoin include Ethereum, cryptocurrency, okapi, litecoin, dogecoin, and more.

Investing or trading in Bitcoin only requires opening an account with a Service or Digital Trading platform, but further secure storage measures are recommended. The same applies to other cryptocurrencies such as Ethereum or even dogecoin if you want to try it out. However, not every country is free to buy and trade digital currencies or use trading platforms, and some countries have some restrictions on such activities.

How do beginners buy and invest in bitcoin?
Before you start buying and trading virtual currency, bitcoin investors need to have several things ready before they begin: a cryptocurrency exchange account, personal identification documents, and a secure Internet connection and payment method. It is recommended that you have your own wallet, including a cold/hot wallet, outside of your exchange account. Valid payment methods using this path include bank accounts, debit cards, and credit cards. Bitcoins can also be obtained at specialized ATMs and P2P exchanges. In addition to these, you need to know a few more information points about bitcoin.
  • Bitcoin's value stems from its adoption as a store of value and payment system, as well as its limited supply and decreasing inflation.
  • While Bitcoin itself is secured by encryption technology and cannot be hacked, the possibility exists that an investor's e-wallet or trading account could be compromised. This is why proper storage and security measures must be taken.
  • Investors can trade virtual currencies by choosing the corresponding international digital currency trading platform, where the security of the transaction can be guaranteed under a large platform.
  • Investors can also buy bitcoin through mainstream services such as Paypal or Robinhood.
  • Investing in or owning companies that have bitcoins on their balance sheets is also a way to indirectly own bitcoin.
After knowing all this information about virtual currencies, how do I start preparing the above-mentioned details? At this point, you need to find a secure and stable trading platform and apply for a personal account on it and bind your personal information. However, it is important to know that anyone can view the records of transactions made on the blockchain, even yourself. Although transactions are publicly recorded on the blockchain, they do not identify user information. Only the user's public key appears next to the transaction, and this is all kept secret, but not anonymous. That's what makes Bitcoin transactions so special. It makes this transaction more transparent and traceable.

However, these transactions are protected in the Gate.io digital currency trading platform. Gate.io is one of the leading cryptocurrency exchanges in China and was founded in 2013. It is operated by Gate Technology Inc. and offers efficient trading and instant deposit and withdrawal services using cutting-edge technology while fully protecting user funds through a centralized and decentralized system. Another unique feature of Gate.io is that the currencies to be listed for trading are determined by user votes. When a token receives more than 10 million votes as a result of user voting, it will be listed for trading on Gate.io. It is one of the top 10 crypto-asset exchanges in the world, with a daily trading volume of more than $3 billion. This is a great opportunity for investors who want to invest and buy small virtual currencies.

How to buy and sell bitcoin for profit on Gate.io?
Over the past nine years, Gate.io has invested a lot of time and effort into cybersecurity. First of all, Gate.io is one of only 15 cryptocurrency exchanges in the world with a trust score of 10 on CoinGecko. In addition, the exchange has received Hacken's Cybersecurity Certification, demonstrating that the exchange has invested sufficient time and resources to protect traders' funds. Armani, one of the largest independent accounting and business consulting firms, has also awarded Gate.io the 100% Asset Security Mark. This caps off an incredible 2021 for the company when it was voted the best exchange in the world by Forbes. Two of the main reasons Gate.io has attracted so many users are its history of security and the large number of products it offers.

Gate.io has one of the most complex and diverse offerings on the market. Currently, the exchange has 1,232 coins and 2,395 currency pairs listed and manages a daily trading volume of $8.7 billion in spot and contracts. No matter which currency an investor wants to buy, this platform is a great choice. It is easy for novices to open an account and make purchases on this platform.

1. Choose an exchange or platform for cryptocurrency trading services
Popular ways to exchange or buy cryptocurrencies today include cryptocurrency exchanges, payment services, and brokerage firms. Among them, cryptocurrency exchanges are the most convenient option as they offer a wide range of features and more cryptocurrencies to trade.
However there are many types of cryptocurrency exchanges on the market today, and since the special thing about Bitcoin is about decentralization and personal sovereignty, some exchanges allow users to remain anonymous and do not require them to enter personal information. So it is an important decision when choosing an exchange, which represents the revenue you will get from the exchange afterward.
Gate.io allows blockchain enthusiasts to trade and store assets in more than 1,200 leading cryptocurrencies for more than 10 million users from more than 190 countries. In addition to offering Defi products through HipoDeFi, the exchange offers spot, margin, futures and contract trading, custody services through Wallet.io, and investments through Gate Labs and its dedicated GateChain platform. The company also offers a fully integrated suite of products, such as its launch initial exchange product platform, NFT Magic Box marketplace, crypto loans, and more. As you can see, Gate.io has built a comprehensive ecosystem of products to serve a variety of crypto users.

2. Connect to bind your exchange and payment options
After selecting an exchange, you will need to collect your personal documents. Depending on the exchange, these may include a picture of your driver's license or social security card, as well as information about your employer and source of funds. The information you may need may depend on the area you live in and the laws within it. On most exchanges, you can link your bank account directly, or you can link a debit or credit card.
The Exchange also charges fees for each transaction. These fees can be a fixed fee (if the transaction amount is low) or a percentage of the transaction amount. In addition to transaction fees, credit cards incur fees. Fees vary for deposits made through bank accounts, debit cards, or credit cards. Be sure to research the fees associated with each payment method to help choose an exchange or select the payment method that works best for you.

3. Buying and Trading
You can purchase Bitcoin (or other cryptocurrencies) after selecting an exchange and connecting the payment options. Most cryptocurrency exchanges allow you to buy and sell using three types of orders.
  • Market Order: An order to buy a certain amount of bitcoins at the current market price. This is executed very quickly, usually within a few seconds.
  • Stop Loss Order: Set the price at which you want to buy or sell bitcoins. This type of order can be used to sell bitcoins at a high price before they fall but may take more time to execute than a market order.
  • Limit Orders: Instruct the trader to buy or sell bitcoins at a specific price or better. These are visible to the market and may take longer to complete than a stop-loss order. This may be beneficial for buying bitcoin once the price of bitcoin has declined.

4. Secure Storage
Keeping your cryptocurrency off the exchange and in your personal wallet ensures that only you can control the private keys to your funds. It also allows you to store your funds outside of the exchange and avoid the risk of the exchange being hacked and losing your funds. If you want to use a digital wallet, most major cryptocurrency exchanges package their online wallets with your user account. The Gate.io digital trading platform, for example, can easily provide you with a convenient way to manage your transactions.
There are many options when it comes to choosing a bitcoin wallet. These are two of them you need to know about.
  • Cold wallet: A hardware-based physical-digital wallet used to store cryptocurrency that is not connected to the Internet, similar to the high-tech flash drives used to store cryptocurrency. Cold wallets offer multiple layers of security and are much harder to crack than wallets connected to the Internet.
  • Hot Wallet: A software-based digital wallet that connects to the Internet, usually in the form of an application.
A good way to set up a wallet is to have three things: a swap account for buying and selling, a hot wallet for small to medium-sized cryptocurrencies you wish to trade or sell, and a cold hardware wallet for long-term storage of larger assets.

5. Manage your assets and develop your investments
Choosing your investment strategy is critical to the success of your investments. One common strategy is to buy and hold bitcoin in the hopes of weathering the ups and downs of valuation for a higher average return. Another popular strategy is the cost-average (DCA) approach: buying a little bit of bitcoin each week or month without paying much attention to price fluctuations. With this approach, you can continue to build your investment at the steady rate you set and hold it for the long term.

The Bottom Line
As of today, Bitcoin's (BTC) market cap soared to about $780 billion on Monday, with the bitcoin price rising to $41,391, up 5.7% in the last 24 hours, according to CoinMarketCap.
If you are a newbie and still have questions about how to buy and trade, hopefully, you will have your answer by the time you finish reading this article. Choosing a stable and reliable digital currency trading platform is an essential start, and Gate.io will definitely be a choice you won't regret. In times of soaring virtual currencies, it is a good moment to research and invest. Why are you still hesitating?

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