Here comes the exciting part – Buying Bitcoin and other Cryptocurrencies!
You’ve deposited some of your local currency (‘Fiat’) onto an exchange, you’ll now want to start buying Bitcoins or other Cryptocurrencies. This step requires a little bit of patience.
Do not rush into this part.
Read the market and have a look at whether Bitcoin (or your chosen Cryptocurrency) is currently trading high or low. Bitcoin works in waves always going up, down, up, down. Since it’s inception, Bitcoin has been on an overall upwards trend with some incredible gains. In January 2018 it took a massive tumble back down in value. This was VERY GOOD for Bitcoin as it allowed the natural value of the cryptocurrency to be corrected. The buying has started again and Bitcoin is back on it’s upward journey again. This time the market may be slightly slower as people are more wary. Again, this is a good thing.
You’ll want to buy when Bitcoin (or your chosen Cryptocurrency) is low, that way when the value rises up again you can sell it, make profit and then start the cycle over again when it dips down in value.
Again, in my example below I have used CoinSpot, as it is seriously the easiest for newcomers.