When it comes to investing in Bitcoin, the safest bet is to stay well-informed about every aspect. Bitcoin has emerged as one of the best-performing assets of the last decade for sure, with prices soaring up like never before. Though Bitcoin has also had its own share of pits and falls as well, the cumulative growth of Bitcoin over the years has been impressive, enticing more and more people towards this enterprising investment. Interested Bitcoin enthusiasts have a lot of burning questions they are seeking answers to, one of the simplest yet trickiest being can you buy $100 worth of Bitcoin? After all, it might seem to many, with Bitcoin prices pegged at such high numbers, that purchasing smaller amounts is not that simple. To put it simply, you can conveniently purchase $100 worth of Bitcoin when starting as an investor, though you will witness profitable results a little later into the game.
Bitcoin has its Ups and Downs, but the Ups are Promising
The current market value, as of writing this piece, is at $73263.37, but there was also a time when it was valued at just a few cents. The cryptocurrency has had its fair share of volatile history, but the price development has been phenomenal, often rising by impressive numbers within a single week. For instance, from April to June of 2011, Bitcoin rose from $1 to $32, a gain of 3200% within three months alone!
This is why investing even in a small amount of Bitcoin as a beginner is not such a bad idea, considering you are in for the long run and can wait around patiently despite any falls. This is because the price of Bitcoin usually soars up equally impressively compared to its sharp plunges. In fact, the highest and lowest prices of Bitcoin are usually always just a few weeks apart.
So, can you buy $100 worth of Bitcoin? More importantly, will it be a wise investment? Depending on your current resources and future intentions, you can conveniently invest 100 dollars in the promising cryptocurrency, or even more. More investments will certainly bring you better profits, considering that you have made the right choice about the platform and mechanism for the purchase.
What is the Safest Way to Invest in Bitcoins?
There are two common ways of purchasing Bitcoins – cryptocurrency exchanges and OTC desks. While the first is the more conventional and popular way of investing in cryptocurrencies, the latter has emerged as a much more reliable, safer, and securer alternative, besides the best-suited choice for institutional investors looking to invest in cryptocurrencies like Bitcoin on a large scale.
OTC desks keep both your personal and transactional information private, unlike digital exchanges which fail to safeguard the latter. This makes them much more resilient against cyberattacks compared to crypto exchanges, which are often in the news for varying degrees of cybercrime, theft, and attacks. At the same time, the high liquidity and independence of Bitcoin prices from trading volumes render OTC desks a safe and smart haven for crypto enthusiasts.
The catch, however, is that most OTC desk bitcoin purchases start from at least $25,000. Over-the-counter or OTC trading generally facilitates only large-scale transactions, targeted towards institutional investors and large businesses putting massive amounts into cryptocurrencies. Therefore, for someone who is just starting and plans to invest $100 alone, not all OTC desks might be willing to enable such a purchase.
How can I still ensure my investments are safe?
While all OTC desks might not allow you to invest in just $100 in Bitcoins on their platform, you can resort to them for larger investment amounts with complete trust and confidence. Some OTC desks, like Secure Digital Markets, are also open to hearing you out and negotiating over a smaller trade opening, though $25,000 is the threshold limit for investment on their platform.
To ensure the safety and security of your crypto transaction anyway, firstly make sure that you are opting only for a renowned and trustworthy name in the crypto circle, without bothering about the transaction fees involved. Do not fall for phishing attacks telling you how you can invest on their platform without any extra charges! The smarter decision is to go for a well-established and experienced platform with multiple years of experience and several satisfied customers to its credit.
At the same time, do not use the same wallet address for each transaction, so that attackers cannot lead back to you using them. It is recommended that you use a new wallet address each time. Decide if you want hot or cold wallet storage beforehand, for the two are much different in terms of access and security. Only after you have done careful research and have developed your strong sense of choice in Bitcoin trading should you decide to step into the field.
Your Common Queries Regarding Bitcoin Purchase Solved
It is inevitable to be full of questions and uncertainty when investing in Bitcoins for the first time, especially if you do not have an expert or experienced trader to interact with directly. But what if you did?
At Secure Digital Markets, we not only facilitate convenient Bitcoin trading on our OTC platform but also try to answer your most-asked questions related to it. What cryptocurrencies do I invest in? What is the safest way to invest in Bitcoin? Can you buy Bitcoin with a prepaid debit card? How to convert Bitcoin to cash in Canada? We have it all covered! Just get in touch with our experts today and have all your queries resolved in an instant.