Bitcoin was the first-ever cryptocurrency. Satoshi Nakamoto, the inventor of bitcoin as per bitcoin’s white paper, released bitcoin in 2009. Satoshi Nakamoto merely released bitcoin as a payment method, and he was not familiar with the fact that bitcoin will acquire such gigantic store value in the future. Due to a constant incline in the market price, bitcoin is one of the utmost tempting and elating investment assets.
The fact might stun you that it has experienced merely a positive exponential growth since bitcoin’s release. According to a Bloomberg analyst, bitcoin might touch the milestone of $100000 by the end of this year. Bitcoin is showing a similar trend as of 2017, and in 2017 bitcoin touched a milestone of $10000.
To sum up, investing in bitcoin is profitable, as per a few sources. All the more now, you can buy or sell your bitcoin units with an android device. There are sites like the bitcoin code, which can give you profitable results. You don’t need to turn to your computer screen every time you invest or trade bitcoins. Here is a complete step ladder that can help you buy your foremost bitcoin using an android device.
Download a Bitcoin Exchange App
You are familiar with the fact that there is the only method to acquire the hold of a bitcoin unit. Foremost is bitcoin mining, and the second one is buying bitcoin commencing a trustable exchange. However, bitcoin mining from the android device is not worth investing resources as mining a desirable amount of bitcoin through any android device will take years.
On the other hand, buying bitcoin from a trustable is very handy as you can invest any amount in bitcoin with a few taps. All the more, buying bitcoin from android devices is much more convenient and accessible. There are only a few steps you have to follow the first-ever bitcoin with your Android device.
The first step you have to follow is to plump for a trustable bitcoin exchange application. Undeniably you can buy bitcoin from the official website of trustable exchange, but applications are much safer and secure. There are ample bitcoin exchange applications on the Play Store, and choosing one of these is challenging.
You can evaluate the robustness of a trustable exchange based on user experience, reputation, user base, availability currencies, payment methods, and services alongside the transaction fees. Trustable exchange is also of two different categories, centralized trustable exchange and decentralized exchange.
Decentralized exchanges are devoid of third parties and intermediaries, and there is a transparent relationship between the buyer and seller. On the other hand, centralized bitcoin exchanges are a bit secure and safe—no matter which type of bitcoin exchange, ensure that the exchange is secure enough.
Complete KYC Process
KYC is one of the decisive steps of trustable exchange. To complete KYC on the bitcoin exchange, you first need to create a user account on it. Creating a user account is pretty simple as you have to provide basic details such as a mobile number or an email address.
After creating a user account, you can proceed to know your customer process. To complete KYC, you have to provide a government-approved identity of yourselves alongside your one picture. The KYC process on these trustable exchanges consumes a matter of time, but it varies in every exchange. The KYC process can take from 10 minutes to 7 days; it all depends upon the verification team of that exchange.
Join Your Payment Source
After the KYC process, you have to link a payment source to buy your first ever bitcoin. The payment source can be a credit card, debit card, bank account, or other payment methods. Ensure that the bitcoin exchange you are choosing to buy your first bitcoin from an android device offers you a desirable payment source.
Linking any payment source is very easy on these websites. However, bear in mind some exchanges offer you lucrative offers on some payment methods. Before using this payment method, you must check the security of this payment method. After connecting your favourite payment method, you can buy your first-ever bitcoin using an android device.
These are a few steps you should follow to buy your first bitcoin from an android device.
