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We all have our dreams. Whether it is to travel the world, to see the sights and sounds we cannot afford right now, or to invest in our business, spend time with our passion projects or so on, there is no doubt that every person on the planet has something that drives them to keep on working every day. But at the same time, we also all want to be able to retire, be it in the future or as soon as possible, to relax and spend time with those we love, or to simply have the time to do what we love to do instead of our daily grind. For many, bitcoin trading has been their way into that new lifestyle, how they have accessed their dream, and with sites like btcrevo.it official appearing and making things more accessible by the day, more and more people are getting to work towards that goal. The question is, where do we even begin?
The Key Points
Before we get into the nitty gritty, let’s note some things you’ll need to keep in mind:
- To have bitcoin, you will need a bitcoin wallet. Make sure you set one up before doing anything else, and keep the details safe.
- While bitcoin itself is near impossible to hack, your wallet can be compromised if you are not careful. Make sure to practise proper storage procedures and you should be fine.
- Investing and trading only needs an account on an exchange. Further practise is up to you
- The value of this cryptocurrency is taken from the finite supply and the value and payment system people apply to it. This value can go up or down, so be smart with it.
Now that is out of the way, let’s get into how you can get some bitcoins of your own.
The Simple Steps To Get Bitcoin
This can be made very complicated, so in order to prevent it from being so, I’ve broken it down into a step by step list.
- Choose an exchange. These hold banks of coins and vary in platforms and methods.
- Connect your exchange to a payment option. This can involve bringing personal details, like ID, onto their systems to ensure you are who you say you are.
- Place an order. Now you’re on that exchange, just order some coins and get them onto your account. Congratulations, you have bitcoins now! Best get them stored for now, right?
Storing Your Coins
Storing those coins will require you setting up a bitcoin wallet. There are two key types that people use for this: Hot and Cold wallets. It can sound weird, but don’t worry, they are very simple to understand in practice.
A hot wallet is one that is connected to the internet, and runs on devices like computers, phones, tablets and so on. These are handy if you are making a lot of rapid fire trades as you will not have to connect them to an exchange every single time you want to use it, but be careful. These have been known to be targeted by hackers, so make sure you’re using proper security protocols with your account at all times. Treat it like a checking account, not a savings account.
Cold wallets are what you want to use as a savings account. So named because they are not connected to the internet at most times, the coins remain safe and secure. Often people will set up a dedicated hard drive for these so they can keep it safe at all times. Just make sure you don’t lose your key, or else you could lose your coins and access to what you have on that device.
Hopefully, this has helped you understand how you can get into the bitcoin market. We all want to make money and retire with ample savings, and this is one great way to do it. Just play smart, don’t invest more than you’re willing to lose, and everything should be fine. Keep those dreams close to mind – hopefully soon you’ll be living them.
Disclaimer: This article is not intended to be a recommendation. The author is not responsible for any resulting actions of the company during your trading/investing experience.
Also read: How To Sell Bitcoin in the UK? You Should Know About It
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