3 Simple Ways to Buy BTC and Other Cryptocurrencies: Prepare for the Bitcoin Halving

Since its inception in 2009, Bitcoin has always been the talk of the town in the crypto industry. Since then, most of the new investors and traders prefer to invest their funds in Bitcoin rather than shifting their focus to another cryptocurrency. This is because Bitcoin has proved itself as the game changer, with a lot more potential to grow.

So, if you invest in Bitcoin, you must know about the phenomenon connected to this asset. Here we are talking about halving, which is a key to Bitcoin’s distinct nature. The halving process affects the supply and demand dynamics, causing a drastic change throughout the cryptocurrency system.

With halving around the corner, many cryptos investors have put an eye on the price of bitcoin and are expecting to have greater returns from such cryptocurrency. While looking at the market, at current the BTC price has crossed the mark of $60,000.

The halving event not only affects the price of bitcoin, but it causes waves in other crypto assets. Seeing such movement in the prices, many individuals have focused on investing their funds in other digital assets such as Ethereum, NavC, BNB, MATIC, and so on. This diversifies their investment portfolio and reduces the risk associated with the crypto industry.

Therefore, we will look at the easiest ways an investor can use to purchase Bitcoin and other cryptocurrencies in this detailed article.

How Can You Buy Bitcoin and Other Crypto Currencies? - 3 Effective Ways

If you have started new to the industry and want to know how to buy Bitcoin and other crypto assets, below are the effective ways you can implement to purchase bitcoin and other digital assets:

From Crypto Exchanges

It is one of the easiest ways to purchase Bitcoin and other cryptocurrencies. However, before creating an account with any exchange, evaluate the following factors:

1. Security

Before purchasing any digital assets from the cryptocurrency exchange, make sure that the exchange is fully secured from any type of potential threats. Make sure that the exchange has two-factor authentication on its platform. This creates added security and protects your funds from cyber-attacks.

2. Fees

When choosing an exchange for buying crypto assets, it is essential to know the fee structure charged by those exchanges. Ensure that the trading fees are transparent, and it doesn’t have any kind of hidden charges.

3. Range of Trending Assets

Although this should not be a problem for beginners, it is equally important to know how many currencies the exchange offers.

Once you have examined the crypto exchanges, it’s time to open an account and start your trading journey.

From Broker

A broker is a person or a corporation who works as an intermediary between you and the crypto exchange. These individuals provide you with a platform to buy, sell, and trade bitcoins and other digital assets. The benefit of employing such a broker is to provide a simple and easiest way to buy and sell cryptos. The main downside of hiring brokers is that they demand larger fees than the exchanges.

From P2P Marketplace

P2P marketplaces have gained traction as an alternative to traditional exchanges. They are an excellent way to purchase Bitcoin and other cryptocurrencies.

Ways to Store the Bitcoin and Other Cryptocurrencies

Once you have purchased Bitcoin and other cryptocurrencies, it's time to find a space to store such coins. Usually, Bitcoin can be kept in two types of digital wallets; hot wallets and cold wallets.

Hot Wallets

Hot wallets like mobile and desktop wallets store Bitcoin in the cloud. This makes users access their wallets using an application or internet browser. Any trading exchange you join will provide a free Bitcoin hot wallet in which your purchases will be immediately saved. However, there are a few users who prefer to transfer and store their Bitcoin using a third-party provider, which is free to download and use.

Cold Wallet

A cold wallet is small and encrypted by a portable device, which helps you to store Bitcoin. Although cold wallets can cost less than $100 and are safer than hot wallets. However, it is recommended that while setting up accounts for your digital wallets and currency exchange, always use a strong password and two-factor authentication.

Conclusion

Cryptocurrencies are gaining more prominence, which means that more methods are coming along the way to acquire Bitcoin and other digital assets. While there are several exchange options available, not all of them are made equal. Therefore, it is advised to conduct your own research to select a reliable exchange. So, regardless of whether you buy Bitcoin or any other cryptocurrencies from any of the above methods, this guide will help you explore the market with ease.