Bitcoin is an investment that can be made. Current investments are important for future savings.
The reason is, if you only save money, it won't be collected. In fact, there are various types of investment. You can invest in shares, gold or buy land. You can also save money in the bank with deposits. Stock investments are now diverse and many platforms are available.
One of the recommended investments is bitcoin.
Usually, as a beginner it will be difficult to buy bitcoin. Here's how to buy bitcoin for beginners.
How to Invest in Bitcoin for Beginners
1. Registering and opening an account on an exchange is the main requirement if you want to start buying your first Bitcoin to then invest.
Registration can be done online, via mobile or website.
You can download the application on Google PlayStore and Apple Store. The conditions for opening an account are filling in your name, email, address, and agreeing to the Terms of Agreement and Privacy Policy.
2. After that, you have to get KYC verification to be able to proceed to the next process.
is KYC verification? This is an important process to protect all participants on the exchange and ensure that the AML (Anti Money Laundering) policy is implemented properly.
The KYC verification process consists of uploading an ID photo, filling in personal data, taking selfie photos with normal movements and random movements.
3. Then you have to make a minimum deposit of IDR 30,000 - IDR 50,000.
But there is also a minimum deposit of IDR 500,000. Here are several deposit methods offered by the exchange.
- Bank transfer (account & virtual account).
- E-wallets (OVO, GoPay, ShoppePay).
- Deposit cash at the office.
- PPOB (Alfamart, etc.).
- Credit Card, Debit Card (overseas exchange only).
4. So, before making a transaction, you have to choose the pair you want to trade.
The most popular pair is Bitcoin against Rupiah or what is the price of Bitcoin in Rupiah.
In one exchange company alone there can be more than 100 crypto asset pairs.
5. Please start ordering in the application that you have downloaded.
There are several types of orders with "fees" that must be paid.
- Limit (Maker): the user places a price at a certain price and not at the price on the market at that time.
- Market (Taker / Instant): This type of order can be executed immediately because it follows the existing market price position.
- Order Book: data provided by the exchange in the application, which shows the current order of orders on the exchange based on price and quantity.
6. Please make an order by entering the price and amount of Bitcoin you want to buy, then the amount of Rupiah required will appear.
7. After that, you can then withdraw the application directly to the application in question.
It takes a few minutes to 1 x 24 hours for the rupiah withdrawal process.
Withdrawals are subject to fees depending on each application's policy.
8. Bitcoin can also be transferred to other Bitcoin investors on the same exchange.
This means by filling in the address of the wallet you want to send to to an exchange or writing down the user ID to send to an exchange.
