Bitcoin is a staple commodity in the world of finance these days. It’s hard to believe that a concept that was totally new to the cross-sectional worlds of technology and financial services just a decade ago could surge in popularity and price to such phenomenal heights, yet the early supporters saw the signs of this magnificent growth early on.
The truth is that Bitcoin is a novel approach to an ages-old financial services dilemma: the question of true control over the levers of personal economic freedoms. Bitcoin and the thousands of other cryptocurrency tokens that have come in the wake of this digital financial revolution seek to answer that question, and they’ve made enormous strides in both arenas.
Now, more than 100 million adults worldwide (and about 14% of the total U.S. population) have taken a stake in the continued future of Bitcoin and a wide variety of other such options that trade openly on crypto exchanges. The viability of these financial products has been established, and now the only thing left to wonder is what the future holds for these currencies and their owners.
If you’ve thought about taking a position in Bitcoin and other crypto offerings but don’t know where to start, this article is for you. The truth is that there are a huge variety of ways to start trading in cryptocurrencies; it all comes down to a matter of what works for your unique needs.
Robinhood and other traditional financial services like PayPal offer an avenue into the accumulation of digital currencies. The benefits offered by the Robinhood stock platform have got to be their rock bottom fee structure and the ability to quickly invest and divest in positions just like the stock trading functions offered.
However, Robinhood does not provide a wallet for digital coin assets, and you can’t transfer these funds out into the larger network of crypto assets. This means that purchasing with crypto and trading solely within the cryptocurrency matrix isn’t possible with Robinhood—they trade like stock commodities instead here.
2. The Cash App
Unlike Robinhood, the Cash App allows users to spend Bitcoin on their daily purchases like Labrador home water delivery services or a coffee from Starbucks. The Cash App is a fascinating piece of Fintech ingenuity, and its user interface is intuitive and simple to adopt for new users.
What sets the Cash App apart is the ability to leverage it as a cryptocurrency exchange, custodial wallet, and debit account for everyday purchases. Using Bitcoin as a cash currency is a revolutionary idea that’s only come around in the last few years. Yet, the fluctuating price structure of the crypto token makes it a fantastic hedge against the march of inflation that erodes strength in the U.S. Dollar and other fiat currencies that we use on a daily basis. Learning how to buy Bitcoin on Cash App couldn’t be simpler as well. All you have to do is connect to the exchange functionality and “trade” fiat for BTC and other digital coins.
3. Buy with a credit card.
Many cryptocurrency exchanges allow you to purchase new Bitcoin with a credit or debit card. After some cursory checks of personal details to ensure that rules and regulations are being met, buying digital coins through an exchange like Coinbase or Binance is simple with your fiat currency card. It’s virtually the same as the purchase of any other commodity or good, with the exception that you’re participating in the most exciting groundswell of financial change in modern history!
4. Buy Bitcoin through the trade of other crypto assets.
Finally, perhaps the most popular option for buying Bitcoin is through the trading of other cryptocurrency tokens. This gives you the leverage of consistently shifting price points and allows you to engage in value trading that will continue to boost your overall holdings if done with a strategy and long term vision.
Trading crypto assets works much like stock trading or forex market movements, yet the cryptocurrency exchanges never sleep. Buying and selling crypto, and Bitcoin in particular, is the way of the future. Make your first move now to enjoy greater financial growth for the future.