Bitcoin remains the most popular digital currency in the market, and it has attracted people in a big way. Both the institutions and individuals have got attracted to it. The roller coaster ride of Bitcoin has still brought the virtual money back on track. However, the high volatility factor has never prevented people from investing in it. Amid all this, it is interesting to check the stories of people who have bought their first coin while investing in it. Some come from the financial world, others from technology and healthcare, but everyone seems inclined towards this digital coin. Some took time to invest, while others quickly invested in Bitcoin as an investor. Some of them bought the complete Bitcoin others who failed to have huge money chose to buy a portion of it. Regardless of their choice in buying Bitcoin, they all had stories to share in the public domain. We have sites like bitcoin blockchain technology that give a clear idea. Let’s check the stories of buying Bitcoin and the lessons learned.
Table of Contents
Get a separate account for your digital currency.
It seems so obvious when we talk about buying Bitcoin for the first time. However, before buying digital currency, you have not seen it going inside. When dealing in stocks, you should check two kinds of accounts – the retirement and the standard investment accounts. However, neither of these account kinds suits the best for cryptocurrency trading. It is because that Cryptocurrency does not remain part and parcel of the traditional stock exchange market. Also, one can find the digital trade currency to have the digital currency as a broker. We have seen making Bitcoin purchases; hence they open a SoFi invest account followed by a SoFi Crypto account.
You can find some free Bitcoin using your New account Bonus.
Credit cards have sign-up bonuses for the years and thus have bank accounts. So even when you find the regular investment based accounts, you can get the option of signing up the bonuses. Hence it would help if you first thought of opening a digital currency-based account. Instead, it came up with a good surprise. You can find some new SoF based digital currency based accounts that seemed to have come up 10 USD in investing free Bitcoin while putting the money for around 10 USD of their own. So it seems to have added like a standard offer. Also, free Bitcoin does not have any account found immediately. Also, you can find things the very same day while making the first purchase. But the mileage in this regard would vary.
No-Commission Trade remains free from Digital currency.
If you look at yet another big thing that may not be brought earlier while dealing with the digital currency broker, the fees are required for Bitcoin trading along with several other digital coins. Even the top brokers who deal with stocks and other exchange-based produces also charge their fees for trading in digital coins. By keeping this point in mind, it is always a good idea to find out a broker known to offer some lowest fees while you plan to do things like trading a lot. We see certain people putting the ad of zero trading fees for digital currencies, but you can also find a few more options. Thus the only reasonable way to get the best of the trading fees is to rely on using as many credit cards as you want. It will help in collecting the rewards in a big way. For instance, Sofi based credit cards can help you get the cashback of around 2 percent, and you can always redeem for your chosen digital currency. However, if you are using Coinbase based debit cards, you earn 4 percent as cashback for earning digital currency rewards.
Rely on Bitcoin Community
When it comes to buying Bitcoin for the first time, relying on a Bitcoin-based community is always a good idea. Try thinking on different levels, like what you would do when earning your Bitcoin after retirement. It remains a volatile-based domain when it comes to investment, and thus you need to put your money only when you make your mind to lose it.