InvestCryptocurrency.co is offering everyone the opportunity of a life time to become a bitcoin cryptocurrency millionaire. The world is gradually shifting from fiat currencies to cryptocurrency and digital currencies. And it is easy to open an account with a cryptocurrency exchange. Bitcoin is an open source decentralized exchange that easily facilitates making trades.
Investing in Bitcoin is all that is being talked about these days, but how exactly does a beginner get started? Do you need to already have Bitcoin to invest? Or do you transfer money from your bank account to somewhere and convert it to Bitcoin? What does that look like?
We will answer all of these questions and list the best and most popular websites for investing in Bitcoin. We will use BTC, in place of Bitcoin which is the symbol for Bitcoin on exchanges and trading platforms. If you just want to earn a high return with crypto, you might consider a crypto investment site.
These investments pay up to 50% within a day, depending on your investment plan.
How to Invest In Bitcoin in South Africa
Investing in BTC is similar to investing in stocks, except far more volatile because of the daily swings in BTC. Here are the steps to invest in stocks from the beginning:
- Open a brokerage account at a firm that allows crypto investments
- Deposit funds from your bank into the brokerage account.
- Buy a stock using deposited funds (cash balance).
- Later sell the stock for a gain or loss. Funds are returned to your cash balance.
The main difference with BTC is for step three; you buy BTC or another cryptocurrency instead of stock. With BTC, the above flow is similar in most cases but it depends on the exchange or trading platform. In some cases, you can buy BTC using your credit card or by transferring funds from your bank account.
For other platforms, you must transfer BTC directly. This is known as a direct deposit of BTC. We will also discuss how to invest in BTC for US citizens. The methods vary across countries because of differences in laws and regulations. Some countries require more private information than others to verify you are legitimate.
How To Deposit ZAR To Buy Bitcoin to InvestCryptocurrency
Coinbase is one of the most popular platforms and has a straightforward process. Some of the mentioned websites below will follow this same process. With Coinbase, you open a Coinbase account and link your bank account or credit card. Then transfer funds from your bank account to purchase BTC or purchase using your credit card. Credit card purchases of BTC are the most expensive.
The mechanics of purchasing BTC involve entering a USD amount or a BTC amount. The website will then convert the other currency. For example, if you enter in 25,000 ZAR, the website will fill in the BTC side with what ever the current BTC exchange rate is.
Once you have the amount filled in, click to purchase your BTC. While credit card transactions cost the most, they are also the fastest to complete BTC transactions. Bank accounts can take up to a few days. Keep in mind that you will get the exchange rate at the time you purchased BTC.
Where exactly does the BTC you have purchased go? After all, you have not invested it yet. Your BTC sits in what’s called a digital wallet. Almost all exchanges have their own wallet that you use to hold your bitcoin and other cryptocurrencies. Going back to the brokerage example, your cash balance is used to trade stocks. BTC in your wallet is used to trade BTC.
What about your USD?
Your wallet has a space for BTC and USD. If you deposit 200,000 ZAR and buy 100,000 ZAR of BTC, your wallet will look like this:
XXX BTC (Depending on the BTC rate).
Wallets are a big topic of discussion when talking about cryptocurrencies. We won’t go into depth with them but you can use a stand-alone wallet if you don’t want to use the exchange’s wallet. Electrum.org is one example of a stand-alone wallet. This can be desktop, mobile or website based.
You can even use a hardware wallet such as LedgerWallet.com.
Once you have deposited funds with the exchange of choice and purchased BTC, you are ready to invest. Trading platforms on the exchanges look very similar to brokerage platforms. You will have a chart and buy/sell buttons with the amount of BTC to trade.
When trading in BTC, you can exchange into other cryptocurrencies, which is another method for selling BTC. Or you can exchange out of another cryptocurrency and into BTC, which is the same as buying BTC.
Direct Deposit of BTC for Bitcoin Investment South Africa
In the case that the exchange does not allow purchasing BTC by transferring funds or using a credit card, you can deposit BTC from another exchange.
This is done by getting your wallet address from the target exchange. Then enter it on the source exchange along with the amount of BTC to transfer to the new exchange. The transaction takes a few minutes for the exchanged BTC to appear in the target wallet.
Top 7 Most Popular Bitcoin And Crypto Investing Sites
There are a lot of crypto exchanges and investment sites. But depending on your needs, here is our list of the top 7 best and most popular Bitcoin and Crypto sties.
1. InvestCryptocurrency: InvestCryptocurrency.co is one of the best and most reliable bitcoin and cryptocurrency investment sites. When you invest with InvestCryptocurrency, you are guaranteed to make profit regardless of the bitcoin price. It is a good investment opportunity for short, medium and long term investors.
2. Coinbase: As we mentioned above, Coinbase is by far the most popular because you can invest directly with USD. You can currently purchase Bitcoin, Ethereum, and Litecoin and 30+ other coins and tokens on the platform. Furthermore, you can earn interest on your USDT, and you can earn token rewards by completing various activities.
3. Gemini: Gemini is a popular platform to invest in crypto because of its focus on security and transparency. Unlike some exchanges that appear vulnerable, Gemini makes it a focus to protect its customers.
4. BlockFi: BlockFi is a cryptocurrency investment platform that allows you to lend and earn interest on your holdings. Also, instead of selling your coins and tokens, you can also borrow against your holdings. If you are just looking to hold your tokens, you can also just let them earn interest for you.
5. Kraken: Kraken is one of the original crypto trading platforms and they have a good selection of coins and tokens to trade and invest in. They also allow margin trading. However, it’s a real exchange, and not as easy to use as some of the top platforms on this list.
Kraken is one of the few platforms on this list that allow you to trade in DOGE and other, more risky, tokens.
6. Robinhood: Robinhood offers free crypto trades on their platform. They are starting in just a few states, and with just Bitcoin and Ethereum, but they plan on expanding this quickly.
7. eToro: eToro has been around for a while in the UK and throughout Europe, but they are now allowing traders in the United States. They offer a huge variety of digital assets to buy and sell on their platform, and even better, they have a practice trading account so you can give it a try before you actually use real funds.
If you are looking for a profitable and legit bitcoin investment website, InvestCryptocurrency.co remains your best option. They are very reliable, and they offer the best returns on investment.