How To Buy Bitcoin

Bitcoin (BTC) has seen meteoric growth in recent years. In May 2016, you could buy 1 BTC for about $500. As of January 2024, a single Bitcoin is hovering around $40,000. That’s growth of approximately 7,900%.

Some analysts believe the price of Bitcoin could rise even further as cryptocurrency and blockchain technology become a bigger part of people’s daily lives. But buying Bitcoin comes with big risks. Along with impressive gains, BTC has also experienced devastating declines.

Today, BTC remains a highly volatile asset. Investors who purchased Bitcoin in the bull market of 2021 will have experienced a loss—but those who bought before late 2020 could be looking at decent gains.

To buy Bitcoin or any cryptocurrency, you’ll need a crypto exchange where buyers and sellers meet to exchange dollars for coins. Here are a few exchanges where you can exchange U.S. dollars for BTC:

  • Coinbase
  • Kraken
  • Gemini

Note that when it comes to BTC, there is also the term “trading pair,” such as BTC to Tether (USDT) or USD Coin (USDC). In the case of BTC/USDT, Bitcoins can be converted into Tether, a stablecoin whose value is pegged to the U.S. dollar.

Share the post

Download TokenPicks to Learn, Invest & Earn in Crypto

Playstore - Badge

5.0

From in-app review form

A simple, yet effective way to make money in crypto.

Copyright © 2023, TokenPicks. All Rights Reserved

Download TokenPicks to Learn, Invest & Earn in Crypto

5.0

From in-app review form