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How do beginners buy Bitcoin Bitcoin beginner tutorial

Date:2024-08-14 20:31:01 Channel:Crypto Read:

In today's digital financial era, Bitcoin, as a new type of virtual currency, has gradually entered the public's field of vision. As more and more people begin to pay attention to and invest in Bitcoin, you as a novice may be confused: how can you buy Bitcoin safely and smoothly? This article will provide you with a detailed beginner-level tutorial, taking you step by step to understand the Bitcoin purchase process, so that you can be at ease in this world of digital currency.

 1. Understanding Bitcoin

Before you dive into buying Bitcoin, you must first have a clear understanding of Bitcoin. Bitcoin is a decentralized digital currency first proposed by Satoshi Nakamoto in 2009. Unlike traditional currencies, Bitcoin is not controlled by any central bank or government, and its transaction records are publicly and transparently recorded and verified through blockchain technology. In simple terms, Bitcoin is a network-based currency that users can trade globally.

The total amount of Bitcoin is limited, with a maximum of 21 million. This scarcity has caused the value of Bitcoin to continue to rise in recent years. In 2020, the price of Bitcoin once exceeded $20,000, and in 2021 it reached a historical high of $60,000. This huge price fluctuation has attracted the attention of countless investors, but it is also accompanied by risks.

 2. Choose a suitable trading platform

Before deciding to buy Bitcoin, it is crucial to choose a suitable trading platform. There are many trading platforms to choose from, such as Binance, Huobi, OKEx, etc. Each platform has its own unique advantages and disadvantages, so novices need to consider the following factors when choosing:

1. Security: Choosing a reputable exchange is the first priority. Checking the platform's security measures, history, and user reviews can help you judge its security. For example, Binance has taken multiple protection measures in terms of security, including cold wallet storage and two-factor authentication.

2. Transaction fees: Different platforms charge different transaction fees. Some platforms may offer lower transaction fees, but may charge high fees when withdrawing money. Therefore, understanding the fee standards of each platform can help you save costs.

3. User Experience: A user-friendly interface and convenient trading process make it easier for novices to get started. It is recommended to choose platforms that provide good customer service so that you can get help in time when you encounter problems.

4. Supported payment methods: Different platforms support different payment methods. Some platforms allow the purchase of Bitcoin through multiple methods such as bank transfer, credit card or Alipay. It is very important to choose a payment method that suits you.

 3. Account Registration and Identity Verification

After choosing a trading platform, the next step is to register an account. Usually, the registration process is relatively simple and only requires some basic information, such as email address, mobile phone number, etc. After completing the registration, the platform usually requires identity verification (KYC), a step designed to prevent money laundering and fraud.

The identity verification process may require you to submit identification documents, such as ID cards, passports, etc., and you may also need to upload a photo of yourself holding your ID card. Although this may take some time, it is an important step to ensure the security of your account, and once it is completed you can start trading.

 4. Recharge your account

After identity verification is completed, you can start recharging your account. Most trading platforms support multiple recharge methods, including bank transfer, credit card, e-wallet, etc. Choose the recharge method that suits you and follow the platform's instructions.

It should be noted that there will be a certain processing time after recharging, especially bank transfers, which may take several working days to arrive. Therefore, it is recommended to recharge in advance before preparing to buy Bitcoin to avoid delaying the transaction.

 5. Buy Bitcoin

After the account is recharged, you can start buying Bitcoin. On the trading platform, there are usually options such as "Market", "Trade" or "Buy". After clicking in, you can see the current price of Bitcoin and trading volume and other information.

There are two main ways to buy Bitcoin: market order and limit order. Market order means immediate transaction at the current market price, while limit order means you can set a price, and when the market price reaches the price you set, the system will automatically trade. For beginners, market order may be simpler and more direct, but limit order can help you better control costs when prices fluctuate.

After confirming that the purchase information is correct, click the "Confirm" or "Buy" button. The system will prompt you that the transaction is successful, and then you can view the purchased Bitcoin in your account.

 6. Storing Bitcoin

After buying Bitcoin, how to store it safely is also an important issue. Many people may choose to store Bitcoin in the account of the trading platform, but this method has certain risks. If the trading platform is hacked or other security incidents occur, your Bitcoin may be at risk of loss. Therefore, it is recommended that novices consider transferring Bitcoin to a personal wallet for storage.

Personal wallets are mainly divided into hot wallets and cold wallets. Hot wallets refer to online wallets, which are convenient and fast, but relatively less secure; cold wallets are offline storage devices, such as hardware wallets, which are more secure. Choosing the right wallet type can effectively protect the security of your assets.

 7. Understand market dynamics

Buying Bitcoin is not a one-time thing. As an investor, it is very necessary to keep an eye on market dynamics. The Bitcoin market is highly volatile and is affected by many factors, including economic policies, market demand, and technological development. It is recommended that novices pay more attention to relevant information and understand market changes so as to make more informed investment decisions.

In addition, participating in some Bitcoin-related communities, such as forums and social media, can help you obtain more industry information and investment experience, communicate with other investors, and help yourself continuously improve your investment skills.

 8. Risk Management and Investment Strategy

In the process of investing in Bitcoin, risk management is an important part that cannot be ignored. Bitcoin prices are extremely volatile, and investors need to have a certain risk tolerance. When formulating an investment strategy, you can consider the following points:

1. Diversify your investments: Don’t put all your money into Bitcoin. Consider diversifying your investments into other digital currencies or traditional assets to reduce your overall risk.

2. Set stop loss: After purchasing Bitcoin, you can set a stop loss point. When the price drops to a certain level, stop loss in time to avoid greater losses.

3. Regular evaluation: Regularly evaluate your investment portfolio, adjust investment strategies according to market changes, and maintain the ability to be flexible and adaptable.

 IX. Summary and Thoughts

Through the above introduction, I believe you have a clearer understanding of how to buy Bitcoin. From understanding Bitcoin, choosing a trading platform, to registering an account, recharging, purchasing, to storage and risk management, every link is crucial. As a novice, mastering these basic knowledge will help you enter the world of Bitcoin more smoothly.

However, investing in Bitcoin is not a simple matter. The volatility and uncertainty of the market constantly challenge the psychological endurance of investors. Therefore, when investing, you must remain rational and not blindly follow the trend. Only by constantly learning and adapting to market changes can you remain invincible in this field full of opportunities and challenges.

Finally, as Bitcoin and other digital currencies become more popular, the future financial world will be more diversified. As a novice, if you seize this opportunity and embark on the road of Bitcoin investment, you may discover a whole new world of wealth. I hope you can get rich returns in the process and enjoy the fun of learning and growth.

The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.


Since November this year, the price of Bitcoin has hit a record high, just one step away from 20,000 US dollars. Compared with the beginning of the year, the price of Bitcoin has increased by more than 170%; compared with the low point in March, its increase is more than an astonishing 400%. Therefore, Bitcoin has become the most promising alternative investment product at this stage. For investors who have just entered the cryptocurrency circle, they don’t know how to buy Bitcoin. So, how can novices buy Bitcoin? The following Bitcoin Circle editor has compiled a beginner’s tutorial on Bitcoin, taking the Internet as an example for investors to refer to and learn.
 How do newbies buy Bitcoin?
Today, the editor of Coin Circle will take the purchase of BTC as an example to introduce to investors how novices can buy Bitcoin. The detailed tutorial is as follows:
1\. Open the official website of OKX Exchange, click the [ ] button in the upper right corner of the page to enter the registration page, and enter the email address on the homepage.
2\. Slide the slider to the right, complete the puzzle for verification, and then enter the verification code received in the email. The verification code is valid for 10 minutes.
3. Then enter your mobile phone number and click "Verify Now"
4. Enter the six-digit verification code received on your mobile phone, which is also valid for 10 minutes
5. Select your country of residence, check the Terms of Service, Risk and Compliance Disclosure, and Privacy Policy and Statement
6. The password you create must be 8-32 characters long, contain 1 lowercase letter, 1 uppercase letter, 1 number, and 1 symbol, such as: ! @  $ % etc.
7. You must verify your identity (KYC verification) before you can conduct transactions. On the homepage, click [Personal Center] - [Identity Authentication] to conduct identity authentication.
Note:
(1) The higher the certification level, the easier it is to match better merchants and more favorable prices when conducting fiat currency transactions.
(2) The official website cannot perform LV.3 video authentication. Please download the OuYi APP to complete the authentication.
8. Click "Trade" to enter the "Basic Trading" page
9. Select BTC/USTD trading pair
10. Fill in the purchase quantity. Please note that the minimum purchase quantity is 0.00001 BTC.
 A beginner's guide to buying Bitcoin
1. Most of the friends who enter the digital currency are deceived by pyramid schemes. Therefore, novices must pay attention that Bitcoin is a digital currency, but it does not mean that all digital currencies are Bitcoin.
2. There are thousands of real digital currencies on the market, but the largest is Bitcoin, and the second is ETH. You can check them on aicoin (a professional digital currency market data APP), and they are ranked according to market value (total number of issuances  price). It is recommended that novices only focus on the top 10, first understand the market, and then speculate.
Here is a reminder, if a currency cannot be found in this software, it is better not to find it on the top three trading platforms (, Huobi, OKCOIN), it is basically a scam currency, so be careful. If you are not good at using software, you can go to GUIBI (a professional digital currency strategy APP, which can be downloaded from the Apple Store) and ask the coin friends and moderators above.
3. The first thing that novices should avoid is pyramid scheme coins. Pyramid scheme coins basically have three characteristics:
1. Stable returns: They tell you that you can make money by buying and holding, and you have a fixed income every month. These are basically pyramid schemes. For real digital currency, your income comes from market fluctuations of selling high and buying low. No one pays you a fixed amount of money. The value fluctuates with the price, which is very unstable, and you will lose money.
2. Pyramid schemes generally require you to recruit people, that is, develop downlines, and the higher the level, the more money you get. Basically, as long as there are these two characteristics, it is undoubtedly a pyramid scheme.
3. There is another more hidden type, which also has some characteristics of digital currency, but it does not allow you to recruit people and tells you that the price of the currency will keep rising. When you log in to the website, there is only this currency and a few other currencies, and basically no one is trading. This is basically a scam.
Fourth, you must choose a reliable platform. In China, Huobi, OKCOIN, and Binance are recommended. They have all been tested by the market, their technology is relatively stable and mature, and you will hardly be deceived.
Newbies should not trust acquaintances easily, especially those online friends you have just met. Don’t believe that pie will fall from the sky. Do more research and get things clear before taking action.
5. Never buy digital currencies that you don’t understand. If you really can’t tell the difference, just follow my stupid method and just buy Bitcoin.
The editor of the coin circle kindly reminds investors that transactions that are not fully prepared will often result in half the effort and twice the results. As the ancients said: sharpening the knife does not delay the chopping of wood, and the same is true for Bitcoin transactions. Therefore, those who are afraid of missing opportunities will never seize them. Be sure to do your homework before trading, so that you can make great strides in the coin circle investment market.

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