Beginner’s guide to automated Bitcoin investing

Beginner’s guide to automated Bitcoin investing

The blockchain technology has found many takers all over the world for its revolutionary way of decentralizing ledgers through digital transactions in fields such as real estate, sport, insurance, healthcare, data security, and so on. In late 2017, Coinbase, an American exchange platform, highlighted that cryptocurrency touched a record $19,340 in stocks at one point. The idea behind blockchain is to contain data on any transaction history. This cannot be manipulated by any external force, which has been a perennial problem traditionally in stock markets around the world.

So, when there are buyers and investors wishing to use cryptocurrency, there may be more transactions and thus, its value is bound to increase with time. However, you must understand how to buy Bitcoin stocks and follow the set process.

Coinbase is a go-to site to sign up for a Bitcoin wallet since it caters perfectly to any user or investor who has basic knowledge about Bitcoin and cryptocurrency and is still in the process of getting familiar with it. It has other currencies too such as Bitcoin cash, Ether, and Litecoin. You need to fill a form online with your basic personal details on it which shouldn’t ideally take more than two minutes. Your bank account, debit card, or credit card is the instrument which will be linked to the Coinbase account to buy or sell cryptocurrencies.

If a bank account is used for Bitcoin online trading, it generally takes 4-5 business days for the transaction to be completed. These are recommended for bigger purchases and investments since as much as $11250 may be spent from a bank account every week. Debit cards are valuable for those who want instantaneous purchases. However, there is a much smaller limit of $1125, which is 10 times lesser than a bank account. Besides this, no cryptocurrency may be sold on it. The base rate of a transaction in the United States is 4% for either buying or selling. The site would pretty much look like a net banking page when you try to transact on it.

Getting comfortable with Coinbase and automated Bitcoin investing is essential for an amateur investor to move on to Coinbase Pro. Moving assets to it is a simple process. On the home page, click ‘Deposit’ on the upper left corner and then choose the currency to be deposited in the account. Next, select the source of the deposit, which could be a bank account, any Coinbase wallet, or a private crypto wallet.