The blockchain-based digital currency like Bitcoin and Ethereum Malaysia has experienced some crazy ups and downs since a few years back of skyrocketing prize craze.
In a matter of fact, bitcoin has hit the record high of nearly $18,000 per coin on December 2015.
A few years ago, the idea of buying the virtual currency and even the price was laughable. However, after the rapid rise in value in 2013, the cryptocurrency’s value surged more than halved.
At its lowest point for one bitcoin was equal to about $230. Thus, if you have waited this long to buy in, you can scoop up some coins far less than at the height of Bitcoin madness.
So, the question is how can you get some? Firstly, you will need to use an exchange to buy the cryptocurrency, and a wallet app to store it securely.
Currently, at Malaysia, the buying of Ethereum and selling of Ethereum also has become almost popular as Bitcoin.
Where can I Buy Bitcoin?
On the opposite end of the spectrum, you also can find someone who is willing to trade the cash for bitcoins. For some country, you can accept bitcoin as payment for goods and services.
Can you play bitcoin the bitcoin market without buying bitcoin?
You are allowed to do the bitcoin thing without owning it outright. The eToro “social trading” network does not sell bitcoin, but lets you follow the traders and wager.
Besides, it is only a matter of time before the big institutional investor to figure out a way to offer bitcoin to the masses through ETFs and index funds.
Where should I buy bitcoin?
Currently, the most common way to buy bitcoins remains an exchange like Coinbase or CEX.
However, Coinbase which is the most established platform is struggling to keep pace with demand.
There are frequent outages that can make it bit difficult or impossible to buy or even sell it.
Besides, there is no shortage of customers, investors and speculators with nightmare stories to tell.
So, as everything with cryptocurrency related – do some research and caveat emptor beforehand.
Factors to be considered before purchasing or selling bitcoin
Despite its imperfect customer service track record, it is no longer surprising that most the bitcoin buyers go to Coinbase.
The main reason is it has the largest volume of trading, venture backing and makes a complicated process fairly simple and user-friendly.
Nevertheless, every of the cryptocurrency and its exchange has its own protocols and rules, even some of its have more stringent than others.
Some even required you to verify your identity before buy and sell ethereum. Some enforce strict buying limits, while others will take any amount of money you are inclined to part with.
With the price of bitcoin that constantly fluctuating dramatically over the transaction time or how quickly the currency is transferred from your bank account or credit card to your bitcoin wallet, it can vary widely depending on which exchange you use any type of payment.
Can you buy bitcoin anonymously?
Basically, bitcoin is not exactly that anonymous. This is because every transaction is publicly visible once it is inscribed and published in the blockchain.
That said, those transactions are associated with a bitcoin address, not a name or account number. So, this is the way to trade while keeping your identity obscured.