Bitcoin has been the talk of the town in the investment market for some years now. With the amazing rise percentage of this cryptocurrency observed especially since 2008, has attracted many small and big investors world over. With increasing popularity, various large market players in varied industries have now started accepting this Bitcoin as a payment option. Especially in the online marketplace a simple way to enroll your company in receiving payment in btc, you need to add “pay by bitcoin” “button for the shopping cart”. Alternatively, like other digital payment options use of QR code can also be used. People have many different opinions, confusions and limited knowledge about the functioning of this cryptocurrency. Hence many summits, discussion forums are being conducted world over for Bitcoin investment aspirants like bitcoinmagazine.com/articles/regulation-and-future-cryptocurrency-token-summit-ii/.
Here is a stepwise procedure guide to get started with trading in bitcoin:
Step 1: Get registered in a Cryptocurrency digital exchange: Some digital Crypto exchanges are operating in online space. Based on your specific requirements, you can choose any one of them. Post opening up the account, you need to make certain transactions using fiat currency.
Step 2: Download a Bitcoin Wallet: It’s an online wallet to maintain bitcoin balance. Through this, you can pay and receive Bitcoins and keep track of the transactions for future analysis and reference. Online wallets may slightly differ in the features offered; therefore, one should evaluate its suitability before investing in it.
Step 3: To increase profitability, you need to add Bitcoins to your wallet. You can purchase Bitcoin directly by using a credit card, or visit a digital exchange and make the transaction through your registered account. There is a private key to your account which should not be shared with anyone. Security wise, trading in bitcoin is much safer, because any access can only be made to the Bitcoin account using the owner’s system.
Step 4: Instructions for processing a transaction using wallet include, arranging for receiver’s public address or QR code. Next, go to the sending option, paste the receiver’s address and specify the amount you want to send and then click send. You should check the address and amount properly because Bitcoin transactions are irreversible.
For Bitcoin transaction dispute resolution and security option of Bitcoin Escrow is available in the market. To protect their interest, the buyer of the product or service may transfer the due payment in Bitcoin Escrow account. This way seller has confirmed that their payment is safe and dispatch the product purchased. On receiving the product or service, the buyer can give “ok” to Escrow service for the payment and seller receives the amount.
Since Bitcoins value keeps fluctuating drastically, it is necessary to keep the close track of the price movement to take the maximum advantage of Crypto market condition. The best way is to follow leads and forecast issued by Cryptocurrency experts for making the buying and selling choice. A constant look at the news flashes about bitcoin, its treatment in your resident country and future changes expected is essential to ensure making profits in this digital currency market.