So, how can you invest in cryptocurrency?
The best way to invest in cryptocurrency is by keeping it straightforward. There are a few methods practised by crypto investors/ buyers.
• Through a crypto exchange –
Crypto exchanges are platforms that help you buy and sell cryptocurrency. It is very similar to a stock exchange, but these cryptocurrency exchanges are self-regulated. BitBns is one such cryptocurrency exchange where you can buy cryptocurrencies like Ethereum, Bitcoin, Dogecoin, and many others. You need a small capital to start your crypto investment.
• Person to Person (P2P) transactions –
Buying or selling crypto costs a little transaction fee. If you wish to not pay the fee, you can directly purchase from someone selling cryptocurrency. This is called P2P or person-to-person transaction. However, to find a seller, you need help from crypto exchanges. With that said, P2P transactions need more completion time.
• Bitcoin mining –
If you wish to invest in Bitcoin, you can become a miner yourself. Miners are required to add a block of transactions to the crypto blockchain network. For their aid in mining, every 10 minutes, they receive a portion of Bitcoin as a reward. Although it seems the simplest way to earn some bitcoin, it is actually not. For mining, you need a special computer set up and also need to invest a lot of your time in the process.
To Conclude
For retail investors, crypto exchanges are the most convenient ways to purchase cryptocurrency. Users need to register on the platform and submit the necessary documents to complete the KYC process. Once done, they can purchase and sell crypto on the platform from the comfort of their home. Read more
