Should I invest in bitcoin or not, is a question that almost everyone with a slight idea of what digital currency is, has to battle with. This is partly because, of the hype given by promoters towards bitcoin. Ordinarily, anyone who has been hit by the gospel of digital currency will automatically feel the need to get involved. This makes understanding how to invest in bitcoin the only challenge to overcome.
With more of the world going online, the need for a well-organized payment structure is also growing. This places bitcoin and other forms of digital currencies at the right place to grow in this highly contested space. Investors too have spotted the rising popularity and value of bitcoin and begun discussions on its viability as a high-quality trading commodity. This has encouraged most investors to put their money where their mouth is. This time around, Africa has not been left in the dark with countries like Ghana, having the focus of their investors on how to invest in bitcoin in Ghana.
Some of the most popular ways that you can invest in bitcoin include:
• Buy and hold – this strategy involves buying bitcoin and holding it until it appreciates, before selling them for a profit.
• Trading – it involves using a registered broker who has listed bitcoin in the crypto trading list. In this strategy, you can earn money in two ways;
1. Bullish – this is when you buy bitcoin as it strengthens and rides the uptrend until you get your profit.
2. Bearish - this is when you sell bitcoin as it weakens and rides the downtrend until it hits your profit target.
• Investing in a bitcoin company – this is where you evaluate the performance of a company dealing with bitcoin and buy its shares hoping to make profits with an increase in the company’s value.
How to invest in bitcoin step by step – maximizing on trading platforms
When striving to come to learn how to invest in bitcoin today, it is important for you to be open-minded and scout for best opportunities in the market. Like any investment, you have to analyze the viability of investing in bitcoins before committing yourself. Below is a step by step process of how to invest in bitcoin using a registered foreign exchange broker:
• Create an account with a licensed broker, regulated by a well recognized financial regulator.
• Deposit cash into the brokerage company using the available options, (i.e. skrill, pay pal, debit/credit card)
• Carry out an internal cash transfer by transferring the money into your trading account.
• Based on your risk-reward ratio, trade any bitcoin pair that pays (e.g. BTC/USD, EUR/BTC)
How to buy bitcoin by PayPal
Buying bitcoins by PayPal can be collectively agreed to be one of the most difficult and unexplored processes. This situation brought by scammers who make chargeback cases to ensure that they get to keep both their cash and the bitcoins. Nonetheless, you can still use virwox to make bitcoin to PayPal transaction. Below is a detailed step by step process that you can use when buying bitcoin by PayPal:
• Visit virwox
• Fund your account via PayPal
• On the SSL/BTC exchange, purchase SSL
• With your newly bought SSL, buy BTC on the SLL/BTC exchange
• Make bitcoin withdrawal
How to buy bitcoin in Ghana
Ghana is at the forefront of the digital revolution in Africa with most Ghanaians attuning to the latest trends in technology, including digital currency. Some of the most hyped digital currencies have made their way into the hearts and minds of most Ghanaian investors with the need to earn a living, and bitcoin leads the line of most preferred digital currency. For this reason, it is important for you to learn the right ways on how to buy bitcoin in Ghana. Listed below are some of the suggestions that you can use when buying bitcoins in Ghana:
• Buy bitcoins from friends – this one of the safest ways of buying bitcoins in Ghana. Find a friend who owns bitcoin and purchases bitcoin as per the prevailing market rates.
• Bitcoin exchange sites – this strategy has been replicated across the world. Sites like local bitcoins offer a safe and efficient environment to promote buy and sell of bitcoin by people from the same locality and share a currency.