Simple Roadmap: Buying Bitcoin for Beginners.
Table of contents
Introduction
Welcome to the exciting world of Bitcoin! This digital currency has changed the way we think about money and investing. In this blog, I explain how to buy Bitcoin easily and safely. Whether you are a beginner or already have some experience, this guide will help you get started.
Why Buy Bitcoin?
Bitcoin, often described as digital gold, offers a new way to invest. Not only is it a potentially profitable investment, but it also allows you to participate in a growing digital economy. However, as with any investment, it is important to do your own research and invest within your financial means. Therefore, my advice is always, buying bitcoin should only be done with money you can spare.
Choosing a Reliable Platform
When choosing a platform to buy Bitcoin, security is most important. Bitcoin buying I personally do at Relai, a user-friendly and secure European platform, is my recommendation for both beginners and experienced users. The app offers an easy way to buy (automatically) and sell Bitcoin without the need for a complicated account (non-KYC).
Step-by-Step Guide to Buying Bitcoin on Relai
- Download and Installation: Start by downloading the Relai app via this link..
Use this refferal code: bitcoinstuffstore and get 0.5% discount on your fees.
The app is available for both iOS (Q1-2024 for NL/BE) as Android. - Create Account: Create an account and verify your identity. This process is simple and ensures the security of your transactions.
- Add Payment Method: Link your bank account to the app. This allows you to easily transfer funds for your Bitcoin purchases.
- Buying Bitcoin: Choose the amount you want to invest and complete your purchase. Relai allows for regular automatic investing, which can be useful for long-term strategies.
- Security and Management: Once you have purchased Bitcoin, it is important to keep your investment safe. Relai offers options to securely store your Bitcoin.
Conclusion
Buying Bitcoin doesn't have to be complicated. With a reliable platform like Relai and a little knowledge, you can easily start investing in the world of cryptocurrencies. Always remember to invest responsibly and do your own research.
Disclaimer
The content of this blog is for informational purposes only and should not be construed as financial advice. I am not a financial advisor. Before making any decisions regarding investments or finances, it is advisable to seek advice from a qualified professional. Investments, especially in cryptocurrencies, carry risk and it is important to do your own research and make your own considerations.
FAQ
How much does buying Bitcoin on Relai cost?
You can buy €100 Bitcoin every month for free. You can even automate this.
Relai charges a flat transaction fee of about 2.5% for buying Bitcoin through their platform. This rate can vary depending on the payment method and the amount you buy. It's always a good idea to check the latest rates on their website or in the app before making a transaction.
How long will it take for my Bitcoin purchase to be processed?
The processing time for a Bitcoin purchase on Relai can vary. Typically, transactions are processed within a few minutes to a few hours. The exact time may depend on factors such as network congestion and the payment method chosen.
What are the risks of investing in Bitcoin?
As with any investment, there are risks associated with investing in Bitcoin. These include market risk (the price of Bitcoin can fluctuate widely), technological risk (such as security issues), and regulatory risk (governments can implement new laws and regulations that can affect the market).
What is the difference between KYC and Non-KYC?
While KYC (Know Your Customer) requires detailed identity verification, which contributes to security and fraud prevention but can limit privacy, non-KYC offers more privacy but may be associated with higher risks. It is important to note that a platform like Relai, while following KYC practices, does so with the highest standard of security and compliance, especially since it is based in Switzerland, known for its strong financial regulation and privacy laws. This makes Relai a reliable and safe choice for buying Bitcoin, carefully balancing security, legal compliance and user privacy.
Can I also buy other cryptocurrencies on Relai?
Currently, Relai is mainly focused on buying and selling Bitcoin. For investing in other cryptocurrencies, you may need to use a different platform.
How safe is my investment in Bitcoin at Relai?
Relai takes several security measures to protect your investment, such as providing secure storage and encryption. However, it is also important that users adopt good security practices themselves, such as using strong passwords and not sharing personal keys or using an external wallet.
Are there limits on how much Bitcoin I can buy on Relai?
Yes, Relai has both minimum and maximum transaction limits. These limits can vary, so it is wise to check the most recent information directly on their platform.
How can I withdraw my profits from Relai?
Withdrawing profits from Relai can be done by selling your Bitcoin and transferring the money to your linked bank account. Keep in mind any transaction fees or taxes that may apply when withdrawing profits.
Can you buy bitcoin for 50 euros?
You can buy between €10 and €100 of Bitcoin every month for free. You can even automate this.
Relai charges a flat transaction fee of about 2% for buying Bitcoin through their platform. This rate can vary depending on the payment method and the amount you buy. It's always a good idea to check the latest rates on their website or in the app before making a transaction.
