Ok, so we have all heard about this new cryptocurrency craze, in particular the currency called Bitcoin. But what is Bitcoin and how do I invest in Bitcoin?
Bitcoin is a type of digital currency in which cryptographic techniques are used to regulate the generation of units of the cryptocurrency; while also verifying the transfer of funds.
While you will not be investing in Bitcoin, it is more like changing your money to this currency because you might or might not know that it is on the rise.
Sidenote: Bitcoin has risen 148% since last month, meaning one bitcoin has risen over €11000 since last month.
So here is how to convert your money to Bitcoin (BOV have stopped accepting transfers to Coinbase).
- Create an account on Coinbase.
- After receiving an email to verify your account, verify the account.
- You will then be asked for your country and accept the terms.
- You will be redirected to your dashboard where current prices for trading will be shown.
- We recommend using the mobile app as is more user friendly for new users.
Verify/link your phone after receiving a 7 digit code to link it.
- Within the accounts tab you will be shown your digital wallets for each currency.
- Go to settings – payment methods and add a payment.
- Link your paypal, bank account or credit/debit card. (this will ensue fees).
- When your money has been put into your digital wallet, click on the buy/sell tab and it will let you pick what currency you want to buy.
- You’re done! You now own money in the form of a cryptocurrency!