Don’t know how to buy cryptocurrency like Ethereum Malaysia? Click here to find out more about how to buy Ethereum coins.
Still confused about the cryptocurrency?
Don’t worry, here is a tutorial on how to buy your first ever cryptocurrency.
What is all about the Bitcoin?
Bitcoin is the news today more than ever.
Well, it is all thanks to skyrocketing prices and roller coasting dips.
Now, everyone is interested in learning how to buy and sell Bitcoin.
As the most well-known form of cryptocurrency in Malaysia like Bitcoin, it is now widely accepted globally around the world and has a growing number of applications.
Before that, you need to know and understand where to go and how to purchase and store Bitcoin Malaysia. Check out Blokmy Malaysia for more information about buying and selling bitcoin.
Step 1: Find a Good Bitcoin Wallet
Digital “wallet” often used to store the Bitcoin until you are ready to buy Bitcoin or exchange for another currency like Ethereum.
Wallet range regarding platforms and features that they can use.
Besides, the security features also are essential to choosing one that works for you.
You need to find your best bet is using the wallet that is automatically provided to you.
However, it is recommended to set up a wallet that is not connected or linked to exchange as that way if the exchange ever goes down or becomes rammed with traffic.
At the very worst, you still have the ready access to your bitcoin.
Step 2: Choose the Right Bitcoin Trader
The best place to buy or sell Ethereum or another cryptocurrency is on an exchange.
There are numerous exchanges out there, with different performances.
Some can be quite limited, and some are less trustworthy than the others.
So, it is crucial to pick the right exchange if you want to buy Ethereum or other forms of digital money.
Step 3: Select Your Payment Method
Exchange accept a large variety of payment options based on what they are willing to use.
This is a sore point for many exchanges as some payment methods have been used to scam sellers for a quick buck in the past few years.
Thus, the Coinbase allows both bank account and credit card transfers for payments and one payment solution must be connected to your account before making the trade.
For your information, PayPal is not supported by Coinbase a with good reason.
Step 4: Purchas Some Bitcoin and Store Them in Your Wallet
Exchanges could provide you with the information on how many or how much of the Bitcoin you could purchase for specific sums of money.
Conversely, due to its volatile nature, the price of Bitcoin can be varying dramatically by exchange and from moment to moment. Learn more from here.
In other words, even if you have a lot of money to burn, you will probably be buying a fraction of a Bitcoin.
To make your ever first trade, input the amount of Bitcoin that you want to purchase in the stored field and click the ‘buy’ button.
Moreover, this would be the basis “market” buy order, which will buy Bitcoin at the best market rate on Coinbase Pro or Coinbase.
Alternatively, you also could place a “limit” order, which will let you set the price that you are willing to pay for a certain amount.
And the trade will only happen if the amount shows up at that price.
Once you have made you purchased your new Bitcoin will be stored in your Coinbase wallet.