Day by day we see how the world changes involving millions of users in new ways of working, learning and accessing different recursion methods. One of the situations that has taken more force (and will continue to increase) is the use of cryptocurrencies, especially Bitcoin. This began with very little and today a bitcoin exceeds USD 10,000 giving profitability to those who invested time back in it. But be careful, this does not mean that you can be a millionaire overnight since it is a market with volatility (up and down at any time). This is relative because the market capitalization is small since the investment is lower compared to the largest companies in the market..
Basically, Bitcoin is a virtual currency that acts as an electronic exchange system with which we can buy products and services as if we did it with cash. There is a "small" detail that you should consider and that Bitcoin is a decentralized currency, this means that you will not find an authority or control entity responsible for its issuance, as well as the registration of its movements. In some countries Bitcoin is being implemented, although it is a somewhat slow transition.
Bitcoin investment tips
If in your mind you are buying Bitcoin to invest, either in the medium or long term (being aware of the positive or negative consequences of this), TechnoWikis will give you some tips that you should keep in mind before launching into this market, these are:
- Analyze on the web and official sites the concepts associated with Bitcoin (purses, mining, etc).
- Constantly check the bag to be aware of the volatility of the currency and thus not lose your investment.
- News from the authorities regarding the use of Bitcoin and others.
Undoubtedly, the key and critical point with Bitcoin is its volatility, that is, the constant change of its value. This one way or another affects the investor, for example, Bitcoin today can be in USD 11,000 but last week it was between USD 10,500 and USD 14,000 which is a variable of more than 10% in a few days or even hours. Hence the importance of being willing to lose your investment or, if luck is on your side, make substantial profits..
Let's talk a little about peer exchange platforms (P2P), which can play in our favor on issues of Bitcoin volatility.
What is a peer exchange platform (P2P)
In the first years of using Bitcoin, we had to use the popular currency exchange platforms to buy or sell Bitcoin. These platforms were responsible for linking our bank account directly with them in order to match both buyers and sellers using an order book and thus acting as an anonymous intermediary. But this is a problem for many and is that someone without a bank account could not access the world of Bitcoin.
Thinking about these problems, peer-to-peer exchange platforms were launched whose mechanics are identical to the traditional platform since it matches both buyers and sellers with an order book. But the peer-to-peer exchange platform gives investors the opportunity to complete the transaction themselves, taking control over them, resulting in a much more personal experience of using Bitcoin..
By using such a platform, we can customize the offers in order to find the best results from them. It is worth mentioning that we have hundreds of payment methods available on peer exchange platforms, such as Paxful. This platform which we will talk about next, offers us up to more than 300 forms of payment and the advantage, among others, of the omission of commissions something beneficial for the investor's pocket.
Payment methods to use
To get a global idea of ​​what Paxful offers us, we can use payment methods such as the following. If you decide to use Paxful, as a buyer you will not pay any commission and as a seller only a slight commission will be paid for escrow.
Ways to access money
When making Bitcoin transactions (buying or selling) in Paxful, we have about 350 ways of accessing money such as:
We will learn below how to use Paxful to enter the world of Bitcoin.
How to use Paxful to manage Bitcoins
Before starting with the bitcoin management process by Paxful, we must highlight the security methodology it contains:
Security in Paxful
Security in an investment environment is also one of the most important points when managing cryptocurrencies such as Bitcoin, a priority that Paxful offers users with a two-factor system (A2F) for your account. This system also works with the Google Authenticator warranty.
If you want to know how you can secure your account with A2F, using Google Authenticator, follow the steps explained in the following video:
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Step 1
First, you must go to the following link:
Paxful
Step 2
You will see the following:
Step 3
There we must register by clicking on the “Create account†button and complete the required data:
Step 4
Once the account is created we will see the following:
Step 5
The first step is to define what type of action we are going to take (buy, sell or place an offer). To do this we click on the upper left button and select the appropriate option:
Step 6
For example, we can select “Create an offer†and we will see the following:
Step 7
There we must select the payment method and we will immediately see the commission on the right side:
Step 8
Once we define what type of payment will be given, we click on Next step and there we will define the minimum and maximum sales limits of Bitcoin:
Step 9
After this we will enter the terms of the offer. There we click on “Create offer†to proceed.
Step 10
Now, if you select “Buy Bitcoins†at the top you can define aspects such as:
- Type of currency in which the payment will be made
- Filter offers by countries
Step 11
Once we find the best offer we click on “Buy†and there we define the payment method and how many Bitcoin we will receive:
Step 12
Finally, if we select “Sell Bitcoins†we will see the following:
Step 13
There we can define the way in which we will receive the payment, as well as filter the amount and at the bottom we can see the demand of buyers. We will also see how to review the percentage of profit with each of them. There we click on “Sell†and follow the steps of the assistant.
As you can see, thanks to Paxful, the process of administering one of the most popular virtual currencies today, Bitcoin, will be very simple and thus determine in detail what is the best transaction to perform.