Bitcoin Longtime Investment – Simply Invest in 2 Steps
Since Bitcoin has crushed the 10.000 USD mark, a lot more people asked for the first steps in Bitcoin. Maybe the articles are still too technical, but I will tell you here in three simple steps how to get Bitcoin and keep them long term safe.
Honestly, there is no shorter guide, nor a cheaper way to buy Bitcoin out there!
#1 Buy Bitcoin
I tell you the cheapest way to buy Bitcoin without any benefit for me: Cubits. It is the cheapest website to buy Bitcoin!
- Register there, then you verify yourself with a webcam and your ID card.
- After verification, navigate to “Buy Bitcoin” and select your amount. Important now: Select SEPA as the payment method. That will give you just <1% fee.
- Confirm the amount to buy and you will get the bank details. Hint: The purchase is not binding.
The amount of Bitcoin you have selected is frozen and will be debited once the money arrives.
- Make your bank transfer and after 1-3 days you have your Bitcoin on Cubits!
#2 Create a Bitcoin Wallet
Think about where you hold your Bitcoin: It’s like a Bank Account. You need something where to store your Bitcoin. This is called a Wallet.
- Download & install Electrum.
- Open Electrum and go through the wizard for the wallet.
If you need help, contact me or use my guide for the private wallet.
- Once Electrum is installed, you can go to the “Receive” tab and copy the address out. I have also explained it in my guide in the end.
- Go to your Cubits account and to the “Send Money” tab. Enter the amount you want to send and click send!
Store and Do Not Touch
Since the title of this guide is long term Bitcoin investment guide, I highly recommend to really apply step #2. Otherwise, you can easily get seduced by the volatility to make a wrong move in the market (sell low, repurchase high,…). Further, applying the second step is for your safety of your funds, as explained here.