16
Nov
2021

Essential Steps You Need to Follow to Get Your First Bitcoin through exchange

Introduction: –

Bitcoin is a well-known separate digital currency that everyone wants to use. There are millions of people who do daily bitcoin transactions for multiple purposes. Those who have never used bitcoin think that bitcoin is a highly complex process, and that is why they do not invest in bitcoin. There are a lot of methods of fiat transactions such as Google Pay, PhonePe, Paytm, Paypal, and net banking. These methods of transactions are straightforward and straightforward to use, and people do all the digital transactions through these third parties. Bitcoin was complicated in the initial stage because people need a computer or laptop to store, send and receive bitcoin, but at present, there are a lot of bitcoin wallets that you can use through your mobile device. So, bitcoin has become very easy, and there are a lot of businesses that are accepting bitcoin as a payment method. You merely need to scan the QR code and pay through your mobile wallet. This article will discuss the essential steps you should follow to get your first bitcoin into your wallet, and after getting your bitcoin, you can spend it anywhere you want. So, without wasting time, let’s explore the steps to getting your first bitcoin.

Bitcoin in brief:

Bitcoin is the first cryptocurrency that is separate from fiat currency. The main difference between fiat currency and bitcoin is that bitcoin is a global currency and fiat is a domestic currency. The government regulates fiat, but bitcoin is an open-source system that means the seller and buyers are the actual owners of the bitcoin. Bitcoin came into existence in 2008 by a person named Satoshi Nakamoto because there were a lot of fiat currency problems. Satoshi Nakamoto thought that there was a need for a non-controllable currency that no one could control over it. Bitcoin is a global currency that means anyone can send it to anyone and receive it from anyone.

What is a bitcoin wallet? –

Before purchasing a bitcoin, you must have a bitcoin wallet. The bitcoin wallet is similar to the physical wallet that we use to store the fiat currency, but it is in a virtual form. A bitcoin wallet is a virtual place for storing, sending, and receiving bitcoin, and without the bitcoin wallet, you cannot send, receive or store bitcoin. So, create your bitcoin wallet first like we create other wallet accounts such as Google Pay, PhonePe, Paytm, etc. Then, click on https://profit-edge.com/  for more wallet information.

How to get your first bitcoin: –

Everyone wants to get their first bitcoin, but many people do not know about bitcoin technology, and they are afraid of money loss. But do not worry because buying bitcoin is very simple, like a bank transaction or other transactions we do through third parties such as Google Pay, PhonePe, Paytm, etc. There are the following steps to buying bitcoin to your wallet account: –

Buying bitcoin through exchange wallet: –

Bitcoin exchanges are the third parties that provide the buying, sending, trading, investing, and storing service to the bitcoin users for some fees. There are the following steps to buying bitcoin through an exchange wallet given below: –

  • Choose a suitable exchange through proper research. There are a lot of bitcoin exchanges on the internet that you can choose according to the rating and reviews.
  • Create an account on an exchange by filling in your name, mobile number, email address, and password. Now the exchange will send an OTP on your mobile number or email address to verify. Verify your bitcoin exchange account by clicking on the link or by filling the OTP.
  • Now you have successfully created your bitcoin exchange account. Now complete your KYC by uploading your details such as identity proof, signature, and selfie. Within 24 hours, your KYC will approve by the exchange.
  • Connect your bank account to the exchange and add funds according to your choice to your exchange wallet by clicking on the add funds or deposit button.
  • Search for bitcoin and click on the buy button to buy it. Then, enter the number of bitcoins you want to purchase and place your order.
  • Congratulations! You have successfully purchased the bitcoins to your exchange wallet. Click on the profile icon and check your exchange wallet whether bitcoin appears or not.

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