Stock Exchange Encyclopedia: Buy Bitcoin
Bitcoin is a so-called cryptocurrency, i.e. a digital means of payment. But how do you actually buy Bitcoins? FOCUS Online explains how it works.
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Marked. More infoBuy Bitcoin – how does it work?
Bitcoins can be purchased on Internet marketplaces. The largest of these platforms in Germany is bitcoin.de. When a customer creates an account there, he first goes through a bank-standard verification process:
After that, the Bitcoin account is unlocked and connected to a bank account. After that, the new customer can buy and sell Bitcoins. In Germany, the Fidor bank offers a current account that can be connected directly to a wallet for Bitcoins.
Bitcoins do not have to be bought in integers, parts are also possible, for example 0.05363757 Bitcoins. Buyers got this fraction, for example, on 29.11.2017 for 500 euros. Webinar with Marc Friedrich: Why Bitcoin is the investment opportunity of a lifetime NOW
At the latest after the entry of Elon Musk, the question arises with Bitcoin whether the crypto currency belongs in every custody account. Asset manager and bestselling author Marc Friedrich gives valuable tips in a new webinar at FOCUS Online and Finanzen100. You can watch the recording here! This is how the purchase process works:
Another option is to buy through a Bitcoin exchange. There, in contrast to the marketplaces, trading takes place automatically. The most well-known Bitcoin exchanges are Binance, Kraken, Bitstamp and Paymium. There you can also buy other cryptocurrencies – there are more than a thousand in addition to the Bitcoin.
But be careful! When buying, you should always keep in mind that the Bitcoins could theoretically lose their entire value from one day to the next.
It is also possible to trade Bitcoins directly with others outside of such marketplaces. Then the buyer and seller exchange exactly the amount that the seller offers. In this case, however, you should have a precise idea of what a Bitcoin is worth right now in order not to be scammed. In addition, your counterpart does not have to legitimize himself on private marketplaces.
How do I invest 20,000, 100,000 or 150,000 euros?
The FOCUS Online Guide shows you how to invest your money profitably and avoid expensive traps. How do I sell the Bitcoins again?
The prerequisite is that you are registered on a Bitcoin trading venue and own coins.
This is how the sales process works:
Where do I store the Bitcoins?
Preferably not in an account on a Bitcoin exchange. Platforms have already been hacked and the Bitcoins stolen. Then they are gone – just like in a bank robbery. The difference is: no one is liable for it. Click here for the depot comparison (partner offer)
That’s why you should transfer your Bitcoins to a private wallet. You can think of it like a virtual wallet.
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