Somehow, all the wild Bitcoin predictions you heard earlier this year don’t seem so wild anymore.
Google searches for how to buy Bitcoin in 2021 have exploded since Bitcoin passed ? 11 million for the first time ever.
You may also be wondering whether it’s too late to buy Bitcoin as 2021 knocks on our doors. Like this video says, it’s better to look at it in terms of how valuable Bitcoin will be in the future. And it’s best to start planning for that future now.
So how exactly do you join the Bitcoin club? The easiest way to buy Bitcoin is through a cryptocurrency exchange. This is an online platform where you can deposit money in a normal currency like Naira and convert it to a cryptocurrency like Bitcoin at the current exchange.
What to Look Out for When Buying Bitcoin
When looking for a cryptocurrency exchange to use, there are some things you should look out for.
- First, you want a fast exchange. Because of how quickly the price of Bitcoin goes up and down, you’ll need to be able to buy and sell quickly. Always look out for an instant buy and sell option.
- Secondly, you want an exchange that will allow you to send your Bitcoin to people and receive Bitcoin from people quickly if you need to.
- You’ll also need an exchange with at least 1 stable coin. A stablecoin is a cryptocurrency that is tied to the price of a normal currency so that it doesn’t swing up and down wildly. For example, Tether also known as USDT is a stablecoin and it’s tied to the US Dollar. So 1 dollar is equal to 1 USDT. You need a stablecoin so that when Bitcoin is unstable and you want to wait for things to cool down, you can quickly convert to a stablecoin and back.
Where to Buy Bitcoin in 2021
A few years ago, you had to change your money to dollars or run around Bitcoin trading groups (some of which were scams) just to buy Bitcoin. But now, you can do it from the comfort of your house because there are several cryptocurrency exchanges that allow you to buy Bitcoin with Naira.
Some exchanges have websites, mobile apps, or both and you can choose which platform to use depending on what works best for you.
For example, exchanges like Quidax have a website, and a mobile app for iOS and Android. So you can pick what works best for you.
The most important thing is for you to find a fast, secure, and reliable exchange that will help you enjoy your Bitcoin journey.