You want to invest in Bitcoin but don't know where to buy Bitcoin?
You have a small capital but the Bitcoin price is too high?
Are you new to cryptocurrency?
Don't worry! In this article, Tra Dao Crypto (@Trà Đạo Crypto ) will explain how to effectively invest in playing Bitcoin ($BTC ), you will understand the simple way to buy #Bitcoin best.
What is Bitcoin investment?
Just like traditional forms of investment such as real estate, gold or stocks. Investing in these forms, you will want to buy low and sell high to make a profit.
Investing in Bitcoin is the same!
In 2009, Bitcoin first appeared, opening up a new financial investment channel. But the supply of Bitcoin is finite, only about 21 million units, and by 2140 no more will be created.
Is investing in Bitcoin safe?
People often think that cryptocurrency is a scam? In contrast, cryptocurrencies in general and Bitcoin in particular are completely transparent and public, listed on many large and reputable exchanges.
In some countries, Bitcoin is accepted as a legal currency. In Vietnam, buying and selling cryptocurrency is not against the law.
Many large businesses such as: #Microsoft, Apple, Starbucks, Tesla, Amazon, Paypal, Ferrari,... have accepted payment with #bitcoin .
Any form of investment, whether real estate, stocks, or gold, has risks. You should invest with idle money, within your control.
3 risks when investing in Bitcoin
No risk, no rewards – No risk, no reward
Bitcoin's high profits mean there are always potential risks surrounding it:
Security risks: Error revealing account information, forgetting password or forgetting recovery code.
Exchange risks: Being built entirely digitally, exchanges are at risk of collapse, intrusion and data theft.
Market Risk: The value of Bitcoin may fluctuate if the market changes. In particular, Bitcoin's fluctuation amplitude is higher than traditional assets.
How much money does it take to play Bitcoin?
The price of 1 BTC is more than 40,000 USD as of December 2023. This amount converted into Vietnamese currency is about 1 billion VND.
But you can absolutely invest according to your ability by buying 0.001 BTC (about 1 million VND) or even smaller like 0.0001 $BTC (about 100,000 VND).
There are no regulations requiring how much money you need to have to invest in Bitcoin.
Even though you invest a little money, you still have the ability to increase the value of your assets many times.
Because this is the crypto market!
How to invest in Bitcoin in Vietnam
With just a few steps, you can completely own your own Bitcoin. Join Tra Dao Crypto to invest in Bitcoin in the simplest way: It's trading Bitcoin.
Step 1: Prepare a bank account
You need to prepare a bank account with Internet Banking function (transfer and receive money without going to the counter) of any bank.
Some banks such as: Vietcombank, ACB, MB Bank, Techcombank are used the most.
Step 2: Open an exchange account
Choose a reputable exchange with large trading volume and high liquidity. In addition, large exchanges have rich portfolios for buying and selling Bitcoin and Altcoins.
Some reputable exchanges that you can refer to are: OKX, Binance, Bybit, BingX,...
Introducing OKX floor
Some advantages of OKX exchange:
Safe with strong security measures.
High trading volume, stable liquidity.
Low transaction fees.
Integrates many trading support tools.
Intuitive interface.
24/7 customer care service.
Supports many types of investments such as basic trading, leveraged trading, futures contracts, derivatives, options,...
Step 3: Connect your bank account and buy Bitcoin
This is the first basic step to putting your capital into the cryptocurrency market.
Suggested series of articles about OKX floor:
🔗 Instructions for depositing money into OKX are detailed and easy to understand using a computer.
🔗 Detailed instructions for withdrawing money from OKX to the bank using a computer.
🔗 Instructions for buying Bitcoin and investing in Altcoins on OKX using a computer.
Step 4: Monitor the market price, when you reach the price, sell for a profit
To be successful in the virtual currency market, following news is an extremely important factor. The price fluctuations of coins depend greatly on market fluctuations.
News helps make profit-taking decisions to achieve maximum efficiency.
Don't miss any news: Join the community and follow Crypto Tea Ceremony News Channel on Telegram.
Bitcoin investment advice for you
Research carefully before investing
Investing in Bitcoin, Altcoin or any form of investment is risky.
However, buying and selling Bitcoin is a high-risk investment. You should carefully consider your risk tolerance before investing in crypto.
Start with a small capital
When you are new to investing in Bitcoin or cryptocurrency, you should trade small amounts to get used to it first.
Starting with a small capital does not mean your profits are not high. If you invest correctly in a coin with the potential to increase strongly (pump), then the possibility of x10, x100 accounts is completely possible.
Equip yourself with security skills
Some experiences for you to increase your security skills:
Before trading, please check the website address.
Do not go to a website that is a fake exchange or you do not know what it is.
Do not give account information or private keys to strangers.
If you don't believe in winning prizes, giveaways ask you to send Bitcoin to receive rewards.
Store keys or recovery characters offline to avoid being hacked, you can use a cold wallet.
In addition, the crypto market is very special in that if you mistakenly send it to someone else's Bitcoin wallet address, it is considered lost and cannot be recovered.
Equipped with investment knowledge
If you do not understand the methods of: fundamental analysis, trading psychology, risk management, capital management, etc., the possibility of burning your account is very high.
Suggestion: 🔗 Let's learn about the articles in the category: Trading 101 class.
Update market news daily
You should regularly monitor and update news related to the crypto market. From there, predict future price fluctuations and make appropriate investment decisions.
Join the community and follow Crypto Tea Ceremony News Channel on Telegram to not miss any news.
Epilogue
The article has helped you understand how to participate in the crypto market for beginners. Just like how to invest in Bitcoin in Vietnam.
At the same time answer the question how much money is needed to play Bitcoin?
You can buy Bitcoin with a small capital of only 100,000 VND.
Don't miss out on basic to advanced crypto knowledge. By saving the DETAILED CRYPTO INVESTMENT MANUAL compiled by the Tea Ceremony Crypto team (@Trà Đạo Crypto ).
