HOW TO INVEST IN BITCOIN! 📈 HOW TO BUY BITCOIN IN 2017!
TL;DR
A unbiased explanation of how to invest in Bitcoin, recommending coinbase for buying and holding, and bitstamp for trading.
Transcript
how's it going today everyone today I will be explaining the basics of buying and investing in Bitcoin I am NOT a Bitcoin or cryptocurrency investor and I will not be sharing my opinion on this currency in this video my simple goal is to explain in an unbiased fashion how you would go about investing in Bitcoin I hope that you as a diligent investo... Read More
Key Insights
- ❓ Coinbase is a popular platform for buying and selling Bitcoin.
- 💦 Bitstamp works like a traditional stock exchange, offering higher liquidity than platforms like coinbase.
- 📁 Investing in Bitcoin through direct ownership is recommended.
- 🤱 The Bitcoin investment trust trades on exchanges like a stock, but has a premium and management fee.
- 👨🔬 Doing research before investing in Bitcoin is crucial.
- 🐕🦺 Coinbase offers additional services like automatic Bitcoin buying and bank account linking.
- 🤱 Bitstamp charges fees based on monthly trading volume.
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Questions & Answers
Q: What is the recommended platform for buying and holding Bitcoin?
Coinbase is the suggested platform for buying and holding Bitcoin due to its popularity and user-friendly interface.
Q: What is the advantage of trading on an exchange like bitstamp?
Bitstamp offers higher liquidity as it allows users to trade with each other, unlike coinbase where coins are sourced from other buyers.
Q: Are there any disadvantages to using coinbase?
Yes, coinbase might have delays or issues when executing orders during fast market moves, which can be problematic for traders looking to trade price swings.
Q: What is the Bitcoin investment trust and is it recommended?
The Bitcoin investment trust is an ETF operated by gray scale investments. It trades on exchanges and charges a management fee. Direct ownership is recommended over indirect investment methods.
Summary & Key Takeaways
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Investing in Bitcoin can be done by buying it outright from firms like coinbase or trading on exchanges like bitstamp.
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Coinbase is a popular and easy way to buy and sell Bitcoin, but it may have delays during fast market moves.
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Bitstamp works like a traditional stock exchange, providing higher liquidity for traders.
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