This is the article where I will guide you on how to invest the latest Bitcoin in 2021 for beginners in the most detailed, basic and practical way with my personal experiences, a Bitcoin investor with more than 5 years of experience. .
Is your knowledge of Bitcoin just zero? Don't worry because reading through the article, I will guide you step by step on how to invest Bitcoin, so you can start making money from Bitcoin right after the end of this article.
Attention: When you finish reading this article on how to invest in Bitcoin, I believe that you can start investing in Bitcoin right away and always, without having to go far away because this is an article I recommend. I do my best to write about my experiences.
To get started you need a Bitcoin trading account. I rate Binance as the number 1 virtual currency exchange in the world. You can sign up for a Binance account here!
Every day when you turn on the TV or the radio, you often hear the phrases "bitcoin scam", "be careful with bitcoin", "bitcoin is a virtual currency with no value" that makes you want to invest in Bitcoin but panic. . Me too, I knew Bitcoin many years ago, at that time Bitcoin was only a few dollars, but partly because I was afraid of warnings from television and newspapers, so I did not learn how to invest in Bitcoin. But gradually, when I learned about it, I found it more and more interesting and understood why many people said that.
To explain why people say "Bitcoin scam" it is a wallet with many groups set up with the purpose of fraud, calling you to deposit money (in this case, Bitcoin) to receive high interest rates. Seeing the interest rate, many people are too greedy, deposit money (Bitcoin) for them, so they hug your Bitcoin high and run away. That's why it's called "Bitcoin scam". Actually, it should be called "Bitcoin scam organizations". Basically, Bitcoin is a digital currency running on the Blockchain network, it doesn't know anything but scam, right?
Not only looking for ways to invest Bitcoin for myself, but I also guide how to invest Bitcoin for others to make money by sharing articles on how to invest Bitcoin on my website.
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So in this article, I will share in detail to clarify some of the main ideas such as what bitcoin is, is a scam bitcoin correct, and then guide how to invest in Bitcoin for newbies so you don't have to wonder. worry about anything anymore.
Ok, before learning how to invest in Bitcoin, we will need to learn about the concept of Bitcoin first.
What is Bitcoin?
Bitcoin has the token BTC. Bitcoin is a new currency created in 2009 by a person or group of people (unidentified as of now) using the alias Satoshi Nakamoto. . Bitcoin transactions are done without intermediaries, without third parties, which means it is not subject to monetary control like there is no bank!
The highlight of Bitcoin is that Bitcoin transaction fees are very low and when transferring Bitcoins from one place to another, just a few seconds of operation, no need to provide your identity, you can transfer Bitcoins from one place to another. all around the world.
Many people around the world are starting to accept Bitcoin. Bitcoin ATMs are available in many places such as the US, Canada, Japan, etc. You can use Bitcoin to buy web hosting services, pizza or even nails, etc.
Bitcoin has many names such as virtual money, electronic money, digital currency, etc. The way people often call it Virtual currency, but in fact, this is not the right way to call it. Because bitcoin is not virtual at all, it has a terrible value.
Did you know that in 2009 with 1 US dollar you could buy hundreds of bitcoins. The peak was on May 22, 2010 a man used 10,000 Bitcoins to exchange for 2 Pizza balls. And by the time I write this article, bitcoin is priced at 50,000 USD. A terrible number, isn't it?
Below I will do a little calculation like this for you to see how terrible the growth rate of Bitcoin is.
Let's say in 2009 you spend 1 dollar you buy 1000 Bitcoins
With the current rate of Bitcoin is 50000 usd, you will have:
1000 x 50000= 50,000,000 USD
It's really terrible, isn't it? With only 1 dollar in 2009, you are now a dollar millionaire. So who said Bitcoin is a scam? Is it virtual currency? Is no value ?
Why has the value of Bitcoin increased so much?
There are many reasons why the price of Bitcoin increases, such as:
- The supply of Bitcoin is finite, only about 16 million Bitcoins in the world, it cannot be produced as rampantly as gold and dollars.
- The demand for Bitcoin increases every day because more and more people know about Bitcoin, imagine billions of people around the world want to own bitcoin but only 16 million Bitcoins are issued? At that time, the price of Bitcoin will reach unimaginable levels, it is estimated that millions of dollars / 1 bitcoin is possible.
- Transactions through bitcoin are anonymous and do not worry about geographical distance. A person A can send Bitcoin to person B halfway around the world in just a few minutes to a few hours. Moreover, when owning bitcoin, no one can know how many assets you have because all your Bitcoin assets are only stored on 1 wallet address, no name, etc.
- Bitcoin is easy to use, no frills like a bank
And there are many other reasons why the value of Bitcoin increases but I do not list them here, you can find out more on the internet
How Bitcoin Works
About how Bitcoin works, if you search on google, there are hundreds of results, but I only summarize and say in the simplest way this is:
When you install a Bitcoin wallet on your computer or mobile, it will use it to store Bitcoins and create a chain of 26-35 digits. This digital signature chain is unique, not duplicate called Bitcoin wallet address. Through this Bitcoin wallet address, people can send Bitcoins to each other.
In easy words, the Bitcoin wallet address is like a bank account number, when you give this bank account number to someone else, they can transfer money to this account number and you will receive the money and otherwise you will also send them money through their account number.
But the difference between a bank account number and a bitcoin wallet address is that through the bank account number, you can know who the sender is such as their name, age, address, etc. through the bank, the bank will stand in the middle of managing your transaction and bear the transfer fee to the bank. As for Bitcoin, through the wallet address you cannot know who owns this wallet address, it is very anonymous and at the same time the transaction occurs only between you and the person who transacts with you, not Is there any 3rd party intervening like a bank.
By now, you must have understood quite a bit about Bitcoin already, right? Now, right below I will go into the main part of the guide on how to invest Bitcoin so you can start making money.
Detailed instructions on how to invest Bitcoin
There are many guides on how to invest in Bitcoin today, I will list them in order from easiest to most complicated for you to follow. However, you need to remember, sometimes you don't need to know in depth about Bitcoin but just being at a basic level can make a lot of money already, so don't worry if you can make it. money from Bitcoin or not.
A note to help me is that this Bitcoin investment guide of mine always wants to focus on clear, mainstream Bitcoin investment ways so that you can get the best return and minimize the risk. Please. Therefore, when you read, read carefully and always consider all your investment decisions.
1. Preparation steps
Below are the steps you need to prepare to be able to start investing with Bitcoin.
a) Bank account
A bank account with internet banking payment function.
You should note that the account must have the online payment function, which is internet banking, if you don't know it, just run to the bank and meet the bank staff and say "Ms. internet banking", they will do it from A to Z and show you how to use it.
b) Register for an account on Binance
Binance is one of the famous and long-standing exchanges, where you can directly buy Bitcoin, Ethereum, Bitcoin Cash, LiteCoin, USDT with a direct bank account.
Another advantage is that Binance is easy to use for newbies, and the price is very good for those of you who want to quickly buy the coins I listed above to invest.
In addition, Binance also has other coins for you to invest through the functions Swap, Investment, ...
So you need to register a Binance account by clicking the button below
c) Sign up for a Binance exchange account
Binance is the largest cryptocurrency exchange in the world today. This is an exchange with a very large trading volume, high liquidity, cheap transaction fees and above all, Binance has a lot of coins you can buy, sell and trade on here.
The reason you need to use the Binance exchange is because if you want to invest in coins other than coins like Bitcoin, Ethereum, Bitcoin Cash, LiteCoin, USDT, you need to use Binance exchange (Binance is available in stock. thousand coins for you to trade that Binance does not have).
In addition to the normal trading function, on the Binance exchange you can also use leverage in trading, passive earning functions such as Binance Launchpool, Binance Launchpad, ...
Therefore, you need to register for a Binance exchange account if you want to participate in this cryptocurrency market.
Sign up for a Binance exchange account
Ways to invest Bitcoin include:
- Store Bitcoin waiting for price increase
- Use Bitcoin to buy Altcoins – Cryptocurrency trading
- Invest IEO
- Send e-money savings
- Lending investment
- Bitcoin Mining
- Trade coin
2. Store Bitcoin waiting for price increase
This is the most basic Bitcoin investment guide that is easy to follow for those who are new to Bitcoin. This investment method is simply that you spend money to buy Bitcoin and store it, wait a while after Bitcoin appreciates, you can sell bitcoin to get money, it's like you depositing a bank, but storing Bitcoin is much more profitable than banks, typically you can see within just 1 year that bitcoin increased from $800 to $ 15,000, an increase of nearly 20 times.
To be able to buy Bitcoin and store it, you can participate in 2 ways:
Option 1: Buy Bitcoin with USDT
Sign up for a Bitcoin trading account: Currently, there are many exchanges, but the most reputable, most used exchange and the most reasonable selling and buying price, you should use USDT. USDT is a very reputable exchange and ensures you buy Bitcoin without fear of scams.
Enter your email in the given box as shown below and then press Continue
Then go to the email and click on the link sent to the link in the email and you can log in. The next time is the same, each time you log in, just enter your email and then enter the email to click the login button and you're done.
For instructions on registering, verifying your account, buying and selling Bitcoin on USDT, please read the article belowOption 2: Buy Bitcoin with a bank account through Binance P2P
If you don't want to buy Bitcoin in the way #1 above through USDT , then you can use a function to buy coins with a bank card of the Binance exchange (called Binance P2P). ) directly.
Briefly, Binance P2P is similar to USDT, allowing you to buy or sell coins like Bitcoin, Ethereum, USDT, etc. safely and quickly in a few minutes.
Regarding the selling price, on Binance P2P you do not have to spend any money because Binance P2P is completely free, so many people have now switched to using Binance P2P to buy and sell coins directly with a bank card because of the this advantage.
How to use Binance P2P.
3. Use Bitcoin to buy Altcoins to make more profit
The second Bitcoin investment guide that I want to talk about is to use Bitcoin to buy Altcoins to make a profit, also known as cryptocurrency trading.
To be able to buy Altcoins with Bitcoin to store, you need to register for an exchange account like Binance . There are many other exchanges, but other exchanges are difficult to register and the transaction fees are high, so I recommend you to use Binance exchange. This is the world's TOP 1 major cryptocurrency exchange and one of the best cryptocurrency exchanges today.
What are Altcoins? Altcoin is the name of all cryptocurrencies other than Bitcoin. You should know that not only Bitcoin is a cryptocurrency, in addition to Bitcoin, there are thousands of other cryptocurrencies such as Ethereum, Litecoin, Monero, OmiseGo, etc.
List of Bitcoin and Altcoin statistics you can see on CoinMarketCap .
Then, using Bitcoin to buy Altcoins for storage is that you will use Bitcoin and buy Altcoins like Ethereum, Litecoin, ... to store instead of Bitcoin.
So why should you store Altcoins? The reason is because Altcoins have a smaller denomination than Bitcoin, so sometimes the growth rate of Altcoins will be faster than Bitcoin, so there are still many people who hold Altcoins instead of Bitcoin.
However, I recommend you to keep both Bitcoin and Altcoin always because Bitcoin is safe to increase steadily, and Altcoin sometimes has unpredictable increase and decrease.
Binance exchange has an average of 200 million visits a month
4. Invest IEO (Binance Launchpad)
The 3rd Bitcoin investment guide that I want to send to you is to invest in IEO or Lending fundraising projects
IEO is a common name for cryptocurrency projects that are in the fundraising stage. In a nutshell, you will contribute money to these projects while they are in their infancy through the feasibility of the project.
IEO projects are deployed on exchanges. The leading exchange in the field of IEO and also the TOP 1 exchange in the world right now is Binance.
Investing in IEO brings huge profits that can be x2,x10 but also comes with risks. If this project that you invest in is successful, you will multiply your profits many times, otherwise, if the project fails, you will suffer a loss.
Up to this point, IEO projects on Binance are usually successful and without losses. Since Binance is basically a TOP 1 exchange, projects are often selected very carefully. So my advice is to choose Binance to trade IEOs.
Another way to raise money similar to an IEO is an ICO. ICO used to be very strong but now it is not nearly as glorious as it used to be and does not bring high profits anymore. Typically, the old Ethereum cryptocurrency when they first launched their ICO, they sold 1 Ethereum for about $0.7. Now Ethereum is worth $450, which is an increase of nearly 700,800 bringing huge profits to investors.
On this website, I also regularly select and evaluate good IEOs to help investors have a better view of a certain IEO. Thereby helping them to invest in quality projects, resulting in higher return on investment. You can refer to IEO review articles on this website
5. Deposit on Binance exchange
If you do not want to lose time to transact or in the process of storing a certain coin, but you want to increase the number of coins you are storing, saving is not a bad decision.
Real world savings, everyone knows that we will bring money to the bank, and send it to them to earn interest as a percentage of the deposit.
So what about in the crypto world? Where is the bank for you to deposit coins and make a profit. Then the answer is that you will use the savings function on the Binance exchange itself.
Binance currently has 2 savings packages: Term Savings n and Term Savings .
What is term savings?
Term Savings is a form where you deposit coins and you can withdraw at any time without losing interest. However, because of its flexible nature, the interest on deposit is not high. Only fluctuates in 0.1% to a few % a year.
If you are a person who regularly uses coins for other purposes and wants to withdraw coins at any time without losing, you will join this unlimited savings package.
The opposite of demand savings is term savings. In this form, you will deposit mandatory savings for a given period of 7 days, 30 days, 60 days, 90 days or 1 year.
For example, when you participate in a 7-day savings package, but you have already withdrawn it in 6 days, you will not receive interest, but only receive the principal. If you want to receive full interest, you have to wait 1 more day for full 7 days to receive interest.
6. Lending investment
Lending investment is a 4th Bitcoin investment that I want to share with you.
Lending means lending, ie you will lend others your coins like Bitcoin, Ethereum, Binance Coin, ..After a while they will pay interest in that same coin for you.
The famous Lending projects are 2 projects:
- Lending on Binance exchange
- BlockFi 's Lending Project .
7. Bitcoin Mining
Bitcoin mining is a form where you will use powerful computers, also known as miners with powerful graphics cards to process algorithms, from which you will receive Bitcoin rewards.
You note that now the difficulty of Bitcoin has increased, so there are almost few individuals who can mine Bitcoin, so they are flocking to mining Ethereum.
Such an Ethereum mining machine costs from 2000-5000 USD. At its peak, each excavator could bring in a profit of 1000 USD/month. However, now because of the high difficulty of Ethereum, each month is only about300 USD / month
8. Trade Coin
This is the most advanced beginner's guide to Bitcoin investing. Trade coin is like buying and selling a certain coin in the short or medium term.
The simple way to play is that you buy at a low price and wait for it to go up and you sell it again, but there are coins you buy at a high price, but then the price drops dramatically, you lose a lot of money from where.
Trade coin requires you to be good at technical analysis, predict the uptrend of a certain cryptocurrency, then you can play and win. If you are not good at technical analysis, I recommend you just learn before you decide to invest in Trade Coin
Currently, the world's largest and most prestigious exchange is Binance. Therefore, you need to register and use the Binance exchange to trade coins.
In addition, if you want to leverage or trade Bitcoin derivatives contracts to increase your profits, you can use Binance Future exchange which is one of the largest leveraged exchanges today.
The interface of trading coins on Bybit is extremely eye-catching
Summary of ways to invest Bitcoin
At the end of the article on how to invest in Bitcoin for beginners here, my hands are already tired when I sit down and type these words for you to understand.
Minh hopes that this article on how to invest in Bitcoin after reading will help you answer all your questions and choose the most suitable way to invest in Bitcoin.
Also you can earn more from Binance exchange through some tips for making money from Binance exchange nhé
To thank me, you can share this article on facebook or any media or your friends to help them better understand Bitcoin and at the same time have more income for them.
Sincerely and wish you a lot of money with Bitcoin!