With Bitcoin is undeniably growing in its popularity, the price of the world’s most popular cryptocurrency reached its All-Time High at 41920 (As per data from Binance, one of the leading crypto exchanges in the world).
Is it a good time to invest in bitcoin?
“The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional investors is very advanced,” wrote the JP Morgan strategists.
With the participation of institutional investors, the chances of bitcoin reaching new ATHs are very high.
Where to buy Bitcoin?
The most common way to buy bitcoin is via bitcoin exchanges, which functions similar to stock market exchanges.
Most of the bitcoin exchanges provide the following methods to buy and sell bitcoin.
P2P (peer-to-peer) bitcoin buying/selling – Here the buyer can buy bitcoin or any other crypto by sending the FIAT amount to the seller specified channel and receive crypto in return. To reduce the fraud, the bitcoin exchange will act as an intermediatory in the transactions. The exchanges will accept the crypto from the crypto seller and keep it locked under their control till the buyer sends the fiat amount to the seller.
Credit/Debit card buying and selling – If you are trying to purchase some crypto and don’t want the headache of trading. Then you can consider this option. Keep in mind that credit/debit card transactions can cause heavy fees and is usually around 6% of the market price of the cryptocurrency.
Trading – This is the most profitable way to buy bitcoin or any other cryptocurrency. You can start a trading account in any of the crypto exchanges of your choice and start trading. Most of the exchanges support trading in FIAT currencies, However, most of the traders prefer trading cryptocurrency pairs like BTC/USDT ETH/USDT, etc.
Below are the most popular cryptocurrency exchanges.
- Credit/Debit card
- Credit/Debit card
Wazirx is now a subsidiary of Binance. The acquisition happened in 2019. If you have a Binance account you can use it to log in to Wazirx by selecting the “sign in with Binance” option from the Wazirx login page.
- Trading (India Rupees Bank transffer ,UPI,Internet banking support)
- STF Smart Token Fund
STF (Smart Token Fund)
STF a mutual fund-like concept in the crypto world. New crypto investors can find smart and experienced crypto traders who can help them grow their portfolio in return for a certain percentage of profit earned.
- Trading (INR Indian rupees support)
- Instant Buy of cryptoCurrencies using INR
CoinDCX Go is the mobile application available from their website which has a simplified interface for buying and selling cryptocurrencies. CoinDCX Go allows us to buy crypto with a minimum amount as low as 10 Rupees.
Different investment options available here such as
- SIPs in bitcoin and other crypto currencies
- Regular income plan by staking coins
- Options (Upcoming)
6. FTX Exchange
This is one of the promising international exchanges. One of the good thing I’ve noticed about the FTX Exchange is that they would list good projects only.