Can Be a Big Profit, It's How to Invest Bitcoin for Beginners

Bitcoin is becoming an investment instrument that is being loved by the community. This cryptocurrency asset was first developed by Satoshi Nakamoto in 2009 to solve some of the huge cryptocurrency shortages.

Can Be a Big Profit, It's How to Invest Bitcoin for Beginners

This digital currency has a similar function like ordinary currency. The difference is, Bitcoin is only available in the digital world. The number of investors who glance at Bitcoin makes this investment instrument increasingly popular and profitable. 

Moreover, this crypto asset has been approved as a legitimate investment instrument in Indonesia by the Commodity Futures Trading Supervisory Agency (Bappebti). But Bitcoin can not be a means of payment in the country.

Although many are buffeted by unpleasant rumors due to lack of socialization and insight, Bitcoin managed to make potential investors tempted by its profits.

Several things make Bitcoin popular, among them: READ ALSO Starts To Rise, Bitcoin Price Has a Chance to Return to US $ 60,000 Bitcoin Price can jump dramatically.

In just a matter of months, bitcoin could break through a new all-time-high. Even in the 2020 pandemic, the price of Bitcoin rose by 354%. In some countries, Bitcoin can be a means of payment in digital transactions. Some online transaction payment tools already accept Bitcoin payments.

Users can also save it. Bitcoin is used as a means of payment for online buying and selling in a number of e-commerce, such as Amazon and e-bay.

How to Invest Bitcoin for Beginners

There are several steps you can take to start investing in bitcoin

1. Register and Open an Account on Exchange

The main requirement to start investing in Bitcoin is to open an account on the exchange. Bitcoin exchange or Bitcoin exchange is a designation for a special place provider company that investors from various countries use to exchange Bitcoin for fiat currency (dollars, euros, yuan, rupiah, etc.).

The registration of exchange accounts is done online through the application or website. For apps, you can download them in the google playstore or apple store. Millionaires: Getting Rich Without Even Selling Anything Learn More Learn More Please know, Bitcoin does not have an official company that specializes in selling crypto assets.

This is because Bitcoin is an open source technology, but there are several different exchanges that facilitate Bitcoin transactions. This exchange is a cryptocurrency investment intermediary.

2. Get KYC Verification (know Your Customer) 

After opening an account on the exchange, to be able to transact immediately, you must get KYC verification. This verification is useful to protect every participant on the exchange and ensure the AML (anti money laundring) policy is running properly.

Generally, the KYC verification process consists of, uploading the original ID photo clearly, filling in personal data, and posting selfies without facial attributes, such as hats or glasses. The data will be processed within at least 1 business hour. Make sure the data you provide is correct and accurate.

3. Make a Deposit To make a Bitcoin transaction

You must make a rupiah deposit to a predetermined account. Usually, the minimum exchange deposit is in the range of Rp30,000 - 50,000. However, there are some exchanges that ask for a minimum deposit at a higher price.

As for the way of deposit offered by the exchange, among others, it can be through bank transfer (account and Virtual Account), e-wallet, PPOB, credit card, or debit card. In addition, deposits can be made in the form of coins, both Bitcoin, Ethereum, and other types.

You can see a list of coins accepted as deposits on the exhange where you opened your account. Exchange will issue a wallet 'address' to send coins from other exchanges.

4. Determining The Pair of Crypto Assets 

Before starting a transaction, you must choose the pair or pair you want to trade with. The most popular pair is Bitcoin against Rupiah or how much Bitcoin is priced in Rupiah. This pair is similar to buying forex, US$ to IDR, how much rupiah is priced at 1 dollar 

5. Start Buy-Sell Transactions After entering into pairs that want to be traded. 

You can make the order by entering the price and amount of Bitcoin you want to buy. Next, there will be the required amount of rupiah. Select the order type, taker or maker. If you choose a taker, the order will be directly made at that time in accordance with the market price. The amount of Bitcoin ownership will be updated soon and the rupiah deposit amount will decrease according to the purchase amount.

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