Our goal at BullMarketz.com is to explain how different currencies work, but more importantly how you can trade currencies and hopefully make some money from it. You can read more about currencies in general under the tab “Currencies” in the main menu.
In order to further explain why and how you can buy and sell Bitcoins for a profit, we decided to create this page. For everyone who’s interested, we have also written detailed articles about how Bitcoin works and about the Bitcoin Exchange Rate.
Interested in Buying Bitcoins
We are assuming that you ended up on this page because you’re interested in buying Bitcoin. Maybe you overheard a colleague talking about it or your read about Bitcoin on the internet. But before you invest your hard earned money you want to make sure you know exactly how it works.
So why would anybody be interested in buying Bitcoins?
Well, there are two reasons for this. The first and most common is to buy Bitcoins as an investment that you hope to make some money from. The second reason is that you want to start using Bitcoin as the digital currency it actually is. IQ Option offers a great trading platform, make sure to visit them and sign up for their demo account.
Invest in Bitcoin
Bitcoin is a very attractive and possibly lucrative investment opportunity due to the fact that it is completely unregulated and used to experiencing huge spreads. The issue with regular currency trading is that the market movements are tiny which means that it can be a challenge to make any real money from it unless you have a lot of money to invest. The reason why the movements are so small is that all countries want their currency to be as stable as possible and therefore they do all it takes to control the exchange rate.
On the other hand, Bitcoin is free to follow the market and will not be affected by anything other than demand. And a currency whose value is based on market demand opens the door for quick spreads and a lot of excitement.
Let us use the summer of 2017 as an example:
In the beginning of the summer 1 Bitcoin sold for just under $2,000, which at the time was a new all time record high. Then Bitcoin quickly surged to above $2,500 before plummeting below $2,000 again. All of this in just one month. After that, it took about two weeks for the currency to regain its value before skyrocketing to new record highs again. Breaking the $3,000, $3,500 and $4,000 mark in less than two months. At the time of writing Bitcoin sells for just above $4,500 and the value is expected to grow even more!
No other currency in the world could go through such extreme changes like that in such a short amount of time, which is exactly why it’s so interesting for investors.
Buy and Use Bitcoin
As we mentioned, the second reason why anybody would buy Bitcoin is to use it as a currency to buy products and services on the internet and in real life. At the moment you can use Bitcoins to pay for most services online and also in brick and mortar businesses such as restaurants, cafes, and hotels. Nowadays, you can even buy cars (Tesla) using Bitcoins.
What makes Bitcoin so popular as a method of payment is that it eliminates the need for physical wallets, credit cards, and cash. All you need to use your Bitcoins is access to the Internet – something most of us have around the clock.
Many experts believe that Bitcoin is the first step towards how transactions will be done in the future and we agree. Electronic transactions are much more adaptable than regular payments, and with the right encryptions, it can even be safer.
How to Buy Bitcoins
Bitcoin is a digital cryptocurrency which means that it will never exist in any physical shape. All transactions are completed between two users over the internet, and you can only buy Bitcoins from a private person or a company.
For example, you could contact someone you know that already owns Bitcoins and is willing to sell them. Then it’s up to the two of you to agree on a price and conduct the transaction. It is important that you know the currency exchange rate so that you don’t get ripped off. The easiest way to check the Bitcoin price is with our Bitcoin converter.
One of the advantages of buying Bitcoins from private users is that you can avoid unnecessary fees. But there are also more risks. Bitcoins are easy to copy and you might end up paying for Bitcoins that have already been used. Always be careful when you buy Bitcoins from private individuals.
A safer way to buy Bitcoins is from a reputable Bitcoin company. There are several international companies to choose from, and this is by far the quickest, safest, and most popular way to buy Bitcoins. Just make sure you use a trustworthy company such as Coingecko or Coinbase when you invest in Bitcoin.
Note that some countries require you to register your transactions, which means that you can’t buy Bitcoins anonymously. There might also be rules about taxes and fees in place so always double check the rules for your jurisdiction before you buy Bitcoin.
Trade Bitcoins with our brokers
We have great news for everyone looking to buy Bitcoins. Several of the leading currency brokers in the world recently started offering Bitcoins via their trading platforms. They offer the perfect opportunity to buy, sell, and trade Bitcoins with other private traders and on the international forex market. Check out the following brokers