What should you know before buying bitcoin online?
Bitcoin is the most famous cryptocurrency on the Internet and in the rest of the world. There are many who talk about it. Some see it as the currency of the future, while others see simple speculation and a big bubble. It is undeniable that it attracts many looks and many people would like to try investing. However, we must not let ourselves get by many confusing messages that appear on social networks and we must go to the reliable portals to buy bitcoin in Australia.
Bitcoin, the king of cryptocurrencies
Bitcoin is a virtual currency, totally digital and intangible. Developed by Satoshi Nakamoto, it has been available since 2009, but its evolution in recent years has been little more than spectacular. After much maturing the idea, Nakamoto handed over the source code and domains to the Bitcoin community two years later, and its creator subsequently disappeared. There began the creation of a whole world behind Bitcoin: a digital currency. We cannot touch it nor does it exist physically.
There is no bank or government that controls Bitcoin and the owners of this cryptocurrency are anonymous. Bitcoin unites buyers and sellers through encryption keys and is therefore exempt from any tax. In 2017, the value of Bitcoin exceeds $12,000 and generates a real fever to invest in this currency. However, by the end of 2020 its value was over $27,000. Since then, the virtual currency has been rising, although not steadily.
How to buy and trade?
Before starting to trade on the platform, you must create an account with online bitcoin trading platform and verify your identity. It is very easy. It will only take a couple of minutes. Identity verification will help us protect your account. The Bitcoin phenomenon has grown hand in hand with cryptocurrency mining, a process that allows people to earn money. You can then transfer cryptocurrencies from any e-wallet to your account, without paying any commission for this transaction. You can see user activity by clicking on the nickname. The user profile contains information, such as security deposit, total number of transactions made, number of transactions made in the last 30 days, completion rate in the last 30 days, average release time, online advertisements, etc.
Choose the price that suits you best
The price of bitcoin and other cryptocurrencies is not always comparable to the official market rate. The seller who publishes the ad has the freedom to choose the sale price. This is one of the great advantages of peer to peer trading. However, depending on chosen platform, you can find incredible offers, where the sale price of bitcoin and other cryptocurrencies is lower than the official rate.
Payment methods and transactions
Another important factor when choosing an offer or a seller is the payment method. A professional bitcoin website will offer you various payment methods. You can filter the offers by bank transfer, wallet, etc., that you usually use for this type of transaction. When choosing the ad, take into account the payment method. According to the rules of the platform, it is prohibited to use third party accounts to make the payment.