Understand and Earn Big Profits, Here's How to Invest Bitcoin You Need to Know

Understand and Earn Big Profits, Here's How To Invest Bitcoin You Need To Know. Bitcoin is one of the investment media that is currently being hunted by the public.

In 2009, Satoshi Nakamoto developed and clarified the downside of cryptocurrencies.

Until finally the cryptocurrency asset development scheme bore fruit, namely a tangible form like ordinary currency.

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However, the significant difference lies in the place or container.

Bitcoin is done and only used in the digital world, but it can be turned into real money.

Understand and Earn Big Profits, Here's How to Invest Bitcoin You Need to Know

Investors with deep pockets are starting to look at the existence of Bitcoin, used as an investment instrument so that it is increasingly popular and easy to profit.

Even crypto assets have been approved as a legal form of investment in various countries, even though it is done in the digital world The success of Bitcoin, gave rise to various positive and negative rumors because of the lack of socialization and in-depth things about Bitcoin.

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The emergence of Bitcoin managed to attract potential investors because they were tempted by the profit side. Here are some important rumors regarding Bitcoin's glory:

The price of Bitcoin can soar dramatically with a time lag of only a matter of months, breaking a new all-time high.

Understand and Earn Big Profits, Here's How to Invest Bitcoin You Need to Know

Bitcoin in some regions or countries can be a legal medium of exchange or payment for transactions in the digital world.

Some online transaction payment tools already accept Bitcoin payments. Users can also save it.

Bitcoin is used as a means of payment for buying and selling online in a number of e-commerce sites, such as Amazon e-bay, and so on.

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How to Invest Bitcoin for Beginners There are several steps you can take to start investing in bitcoin.

Register and Open an Account on Exchange. The main requirement to start investing in Bitcoin is to open an account on the exchange.

Bitcoin exchange or Bitcoin exchange is a term for a company that provides a special place used by investors from various countries to exchange Bitcoin for fiat currencies (dollars, euros, yuan, rupiah, etc.).

Exchange account registration is done online through the application or website.

For applications, you can download them on the Google Play Store or Apple Store.

Please note, Bitcoin does not have an official company that specifically sells crypto assets.

This is because Bitcoin is an open source technology, but there are several different exchanges that facilitate Bitcoin transactions.

This exchange is a cryptocurrency investment intermediary.

2. Get KYC (know Your Customer) Verification After opening an account on the exchange, to be able to transact immediately, you must get KYC verification.

This verification is useful to protect every participant on the exchange and ensure the AML (anti-money laundering) policy runs properly. 

Generally, the KYC verification process consists of uploading a photo of the original ID clearly, filling in personal data, and uploading a selfie without facial attributes, such as a hat or glasses. 

The data will be processed at least within 1 working day.

Make sure the data you provide is true and accurate.

3. Making a Deposit To make a Bitcoin transaction, you have to deposit rupiah to the account that has been determined.

Usually, the exchange's minimum deposit is in the range of 30,000 – 50,000. However, there are some exchanges that ask for a minimum deposit at a higher price. 

The deposit methods offered by the exchange include bank transfers (accounts and Virtual Accounts), e-wallet, PPOB, credit cards, or debit cards. In addition, deposits can be made in the form of coins, either Bitcoin, Ethereum, or other types.

You can see a list of coins accepted as deposit on the exchange where you opened an account.

Exchange will issue a wallet 'address' to send coins from other exchanges.

4. Determine the Crypto Asset Pair Before starting a transaction, you must select the pair or pairs you want to trade.

The most popular pair is Bitcoin against Rupiah or what is the price of Bitcoin in Rupiah.

This pair is similar to buying foreign currency, US$ to IDR, how many rupiah is the price of 1 dollar

5. Start Making Buy-Sell Transactions After determining the pair you want to trade.

You can place an order by entering the price and amount of Bitcoin you want to buy.

Next, the amount of rupiah needed will appear. Choose the type of order, taker or maker.

If you choose a taker, the order will be placed immediately according to the market price.

The number of Bitcoin holdings will be updated soon and the amount of rupiah deposits will decrease according to the number of purchases.

If you choose a maker, the order does not occur immediately or is postponed until the match is at the desired price.

As long as there is no match, the order will wait in the "order book". Please note, the unit for buying and selling Bitcoin can be up to eight digits behind the comma, which is 0.00000001 BTC. So, you can start trading with small numbers.

The process of selling Bitcoin is not much different from the process of buying it.

However, after successful execution, rupiah deposits increase and Bitcoin holdings decrease. Some coins cost thousands of dollars, but exchanges often allow buying fractions of a single coin.

Therefore you can invest from as little as US$ 25 dollars. Don't forget to determine your risk tolerance and investment strategy before you trade. 

Bitcoin can be used for transactions or stored in the hope that the price will ris.

6. Withdraw To withdraw

Bitcoin into rupiah is quite easy, namely by submitting a withdrawal in the application used.

In addition, you can withdraw Bitcoins held on the exchange by entering the address of the wallet to which the Bitcoin is sent Because exchange uses the banking network to send money, it takes a maximum of 1 x 24 hours to process withdrawals.

ama or quickly is determined by the process at the bank. 

The fees required to make a withdrawal can be seen on each exchange. In addition, each exchange sets a minimum and maximum withdrawal amount for both rupiah and crypto coins. Each exchange has a different policy.

7. Bitcoin Transfer

Bitcoins can also be transferred to other Bitcoin investors on the same exchange. 

You do this by filling in the address of the wallet intended to send out the exchange or writing down the user ID to send to one exchange.

The wallet address becomes a kind of account number when transferring money.

Understanding Bitcoin Wallet A wallet is a place to store crypto assets, just like storing money in a wallet.

Each investor will get a different wallet address. This address is for sending or receiving crypto assets.

When making a Bitcoin purchase, the coins will be stored in a digital wallet or Bitcoin wallet.

There are two types of Bitcoin wallets, hot wallets and cold wallets. A hot wallet is a wallet operated by your cryptocurrency exchange or by a provider.

Coins can be accessed via internet/software. Electrum and Mycelium are two types of hot wallets.

Hot wallets are very risky to use. Because, if hacked, your coin information is threatened.

Meanwhile, a cold wallet is a piece of hardware that stores your coins. Usually a portable device similar to a flash drive.

There are two popular cold wallets: the trezor and the ledger nano. Cold wallet seems more secure.

If you invest with small numbers it is better to use a hot wallet, while if you invest large it is recommended to use a cold wallet.

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