Several years have gone by since Bitcoin came into existence. So far it has had its fair share of highs and lows, with so many gaining interest too. Despite the fact that it is highly volatile, Bitcoin has kept on attracting new investors and traders because of its mouth-watering returns. And this is perhaps the reason why so many people are searching for ways to buy and sell Bitcoins. One sure way is to use a Bitcoin Cryptocurrency app.
Decide Where to Buy and Sell Bitcoin Cryptocurrency
There are so many ways that you can buy and sell Bitcoin cryptocurrency. Here are some options for you to consider:
Traditional Brokers
Here the options for traditional brokers are plenty. You only need to settle on the one that offers the best services. Robinhood is one of the mainstream brokers that emerged in the crypto world. It has so far gained a lot of traction in this industry and has numerous customers to back that up. It was the first one to offer traders and investors a chance to buy and sell Bitcoins.
The best part about using Robinhood is that they won’t charge you a dime to trade. Of course, there are several other conventional brokers, but Robinhood is by far the best on the list.
Cryptocurrency Exchanges
You can also buy and sell Bitcoin in any cryptocurrency exchange of your choice. Many of them have different cryptocurrency offerings for you, including Bitcoin. Because there are so many cryptocurrency exchanges, it would be best to look at the standout features of the site you’re considering. Some of the things that you will consider include security and consumer protection. What kind of protection do they offer their clients? With scammers and cybercriminals all over the internet, is your investment safe with them?
Another thing that you will need to consider when choosing a cryptocurrency exchange is its fees. You don’t want a site that overcharges you just for trading. If they do that then how much are they going to charge you for withdrawals? Ensure you do some due diligence before settling on one cryptocurrency exchange.
Using a Bitcoin Cryptocurrency App
Another effective option to buy and sell Bitcoins is by using a Bitcoin Cryptocurrency app. Again here, there are thousands of apps of this kind that you will find online. What matters is to check the features that they have and compare them against each other.
Any Bitcoin Cryptocurrency app can promise you heaven on earth. But it all comes down to which one actually practices what it preaches. Often we say that low fees are the main feature to look at. But sometimes this can also be misleading because it is not the only thing that matters when you’re picking a Bitcoin Cryptocurrency app. Security is also an integral factor that you need to consider closely. Many people are losing their cryptocurrencies because of very low levels of security. Other features are just a bonus you can consider when you’re spoilt for choice and need a tiebreaker.
Grayscale Funds
While this might sound more complicated than using a Bitcoin Cryptocurrency app, for instance, in a real sense it isn’t. This is a digital currency asset manager. There are fees involved when using this method, and it often trades at a premium.
Exchange-traded Funds
The first Bitcoin ETF was launched in October 2021. The fund doesn’t invest in Bitcoins directly, but rather invests in the future contracts for Bitcoin. This can be a great avenue for those who are patient enough and want to avoid the extreme volatility that’s present in the crypto space.
Peer-to-peer Bitcoin Owners
How about purchasing Bitcoin straight from another trader or investor owning the cryptocurrency? This is just like you would purchase items available on Craigslist. Just like there are many Bitcoin Cryptocurrency app options, there are many peer-to-peer Bitcoin platforms as well. Some of these platforms include Bitquick and Bisq.
The problem with purchasing Bitcoins from another person online is the security. How are you sure if they aren’t scammers parading themselves as traders? It’s a chance that not so many are willing to take, and that is why they normally opt for safer options like using a Bitcoin Cryptocurrency app.
Bitcoin ATM
Bitcoin ATMs work just like the typical ATMs do. However, only you can use them to purchase and sell Bitcoins. In the US alone, there are over 25,000 Bitcoin ATMs.
What You Need to Know Beforehand
Your online security is very important. This is the first consideration you should have at the back of your mind. Also, have enough information with you when getting into the crypto trading space. It is highly volatile and just getting in without any knowledge can be extremely risky. Lastly, you need to know how to store your proceeds, either using a hot or cold wallet. The latter is offline, while the former is online.
Final Thoughts
The best way to buy and sell Bitcoin cryptocurrency, arguably, is through a Bitcoin Cryptocurrency app. Nonetheless, we have given you several other options if you believe this one’s not for you.
