If you’re reading this, you’re probably intrigued by Bitcoin’s numerous advantages. Knowing how to invest in Bitcoin is a good place to start when thinking about your future. We’ll show you how to get started as a beginner in this article.
There are already over 12,000 cryptocurrencies, and more are being developed. However, as more are produced, some are withdrawn from the market. This is why it is critical to understand what each cryptocurrency you will be trading in is used for, why it was created, its market cap, and other relevant information that will assist you in making informed decisions.
Even if you intend to trade multiple cryptocurrencies, the best place to begin is with Bitcoin. This is because Bitcoin is the oldest and most original cryptocurrency, and many people want to know how to invest in Bitcoin. Its reach has grown and more people have adopted it, making it simple for anyone to find as much material and data to inform you what to do as a beginner.
Are you ready to invest in cryptocurrency? Here’s how you do it:
Why you should invest in Crypto
First, you should know that the African crypto market skyrocketed by $105.6 million in 2021. This goes a long way to show the uptake in cryptocurrency compared to the previous years.
It’s also another indicator that people successfully circumvent governments’ crackdowns across different countries. You shouldn’t be left behind on this train. Cryptocurrency has made many millionaires in recent times, and Bitmama has improved the use cases for crypto.
Case in point, our “Buy Crypto Pay Later” (BCPL) feature allows you to obtain over $100 without collateral, buy low and sell high. Doesn’t the idea of buying Bitcoins or Celo without your own cash sound interesting?
Read more about how BCPL works, or if you’re so excited, download it immediately on iOS or Android.
There’s always a way to cushion all kinds of fears, including the fear of inflation. All you need to do is keep an open mind, and embrace crypto.
The proper way to invest in Crypto
1. Understand how cryptocurrency works
It is not enough that you have traded stocks and forex to convince you to invest in cryptocurrencies. It is critical to understand the fundamentals of how to invest in Bitcoin.
Also, because most cryptocurrencies rely on blockchain technology, understanding how it works is beneficial. Investing in cryptocurrency is not a decision that should be made hastily due to the hype surrounding it. We wrote a piece on top 10 cryptocurrencies to invest in 2022.
Once you understand how cryptocurrency works, you can proceed to purchase cryptocurrency. See how to open and fund a bitcoin wallet in Nigeria.
2. Choose a crypto exchange platform
To purchase bitcoin or any other cryptocurrency, you must first identify a crypto exchange platform that allows you to purchase Bitcoin using your local currency.
While there are several platforms that provide this service, it is critical to keep an eye out for crypto rates, transaction fees, and payment options provided by the platforms.
On Bitmama, for example, you can pay for Bitcoin and other cryptocurrencies online using a bank transfer or a debit or credit card. Users from all over the world can purchase bitcoin with cash. Learn about how to start and grow arbitrage trading business.
3. Invest via Crypto Staking on Bitmama
One of the most simple yet innovative ways to learn how to invest in Bitcoin is by crypto staking.
Crypto staking is similar to depositing money in a bank, in that an investor locks up their assets, and in exchange, earns rewards, or “interest.”
Contrary to bearish beliefs, you can make long-term life plans with crypto. Where previously you stood the risk of losing your money, Bitmama has now simplified the process of crypto staking for you. You no longer have to worry about losing your assets or your assets losing value. The simple way to do this is by staking your coins using Bitmama See our article on how to sell bitcoin in Nigeria.
Buy bitcoin in Ghana, Nigeria and Kenya easily with the bitmama app. You can buy Bitcoin and other cryptocurrencies in the local currencies of these countries.
