It might be a bit confusing for the first users to step up in the world of Bitcoin. We understand it well as we also were a first timer with the same issue. But, we have a collection of more than 300 cryptocurrency exchanges all over the world.
Using data, we have made a short guide to choose your preferred crypto exchange. Also, it comes with some other useful information that will help you to buy the first Bitcoin. Since you probably have seen our home page, thousands of Bitcoins are out there to choose from.
Most people begin with the largest coins, including Bitcoin, Bitcoin Cash, Ethereum, etc. So, this is possible to buy very incomprehensible, speculative, and high-risk asset too. Now, let’s learn more about this topic before you look to Keep A Bit.
How Can You Buy Bitcoin as Beginners?
So, you’re going to buy the first Bitcoin as a beginner. You have to choose the preferred coin you want to purchase from the exchange. There is a ‘Trade’ section to the exchanges where you have to select from a coin. The coin may include Bitcoin (BTC), Ethereum (ETH), and some others.
The exchange houses sell Bitcoin in pairs. If you choose the biggest pair of coins, it matches with the major government currencies. It means that you can buy a Bitcoin directly using USD, GBP, EUR, etc.
You can purchase at the present market price, and you also have the chance to set your own price that you like to purchase. When you set the value far below its present market price, the deal may not conclude a few times.
Even it may not happen any time ever. It’ll not give any result if the coin’s price fails to sell that you entered into the system. A lot of small coins and assets don’t get pairs with some fiat currencies. You have to deal via some other assets to sell or buy these. These assets include BTC, ETH, or some others that have based on the US dollar. Bitcoin has also featured Keep A Bit review for you to find out crypto broker.
How to Store a Bitcoin on a Bitcoin Exchange?
There are many Bitcoin exchanges, and they allow you to keep your Bitcoin with them. It’s possibly the handiest storage system for you if you’re new to this world. The risk is out there that the coin may hack or lose when you exchange the coin. So, it would be best if you were very wary of these risks when you need to exchange Bitcoin.
Besides, there is also another way to keep your Bitcoin by making your own external wallet. It’s also a bit risky for the new users as they have not proven comfortable to hold their private keys. That means the way you want to use your new coin can influence how you buy and store it.
As you already know that you can keep your Bitcoin in your wallet rather than in an exchange house. There are two major types of wallets are out there, including cold and hot.