If you want to buy Bitcoin, it is a good idea to use a reputable Bitcoin exchange where you can get a great rate and low fees. However, it can be challenging to navigate the various services and offers. Which type of exchange you should choose depends on your needs as well as how much you plan to invest. If you just want to buy Bitcoin and “put them in the drawer” for several years, it is an entirely different story to whether you want to be able to trade your Bitcoins on an ongoing basis easily or invest in other cryptocurrencies and asset classes such as stocks and currencies.
Many marketplaces, or “Bitcoin exchanges,” allow people to buy or sell Bitcoins using different currencies. On these, it is usually possible to buy Bitcoin via a bank transfer. As in all other industries, there are good, less good, and decidedly fraudulent companies, so it is essential to choose the right place to shop from the start. It is a good idea to choose a dealer who offers a reasonable rate, low fees, and high security.
If you are on this site, you have probably asked yourself if you should invest in Bitcoin. You have most likely also taken note of how much Bitcoin has risen since the cryptocurrency came into the world in 2009.
As Bitcoin is still relatively new, there are very different views on whether Bitcoin is a good investment. Opponents include Jamie Dimon, Paul Krugman, Warren Buffet, and Peter Schiff, whom all believe that Bitcoin is a “bubble” with an intrinsic value close to or equal to zero. Proponents include Tim Draper, who believes Bitcoin will reach a value of $250,000 by 2022, and the founder of antivirus software McAfee, John MacAfee. Other known proponents are Apple co-founder Steve Wozniak, Tesla’s Elon Musk, and billionaire and hedge fund manager Paul Tudor Jones.
The latter sees Bitcoin as the best hedge against inflation.
Upon its release, the initial price of 1 Bitcoin was 1 cent. The currency peaked in late 2017 with a price of just under $ 20,000. As a Bitcoin owner/investor, you must adjust to large fluctuations in the price. You can see the current and historic exchange rate below.
On this page, we have identified and tested several exchanges and marketplaces in order to find the best ones. Our selection criteria are high security for you, good prices, low fees, and a smooth user experience.
If you want to get started quickly, you may prefer to buy Bitcoin using a credit card. In the past, it was not that easy to buy Bitcoin, and credit card payments were not offered, but today several retailers are offering this option.
If you think Bitcoin is exciting, but do not have time to get thoroughly acquainted with the market or create an electronic wallet to store your Bitcoins, it is an advantage to have a provider that does it all for you. By using the invitation code below, you even get a $25 (USD) bonus when you sign up. If you want to make a larger investment, it is a good idea to make a bank transfer.
Bitcoin is the first example of what we today call cryptocurrencies, a growing asset class of digital currencies. Bitcoin was created in 2009 by one or more unknown person (s) under the pseudonym Satoshi Nakamoto. Transactions are carried out without intermediaries, and Bitcoin is used by an increasing number of companies and individuals. Some people buy Bitcoin as an investment in the hope that they will increase in value.
Bitcoin can be used for electronic payment just like conventional currencies, but differs in several areas:
Bitcoin is decentralized and can be sent directly from person to person. Unlike so-called fiat currencies, such as Danish Kroner, US Dollar, or Euro, Bitcoin is not issued by a central bank and is not controlled by any authority. Bitcoin is maintained by a group of volunteer developers as well as a network of dedicated computers around the world.
Fiat currencies have unlimited supply since central banks can issue as much new money as they want. A total of 21 million Bitcoins exist, and unlike a fiat currency, no more can ever be issued. This gives Bitcoin its anti-inflationary monetary characteristics.
The address you use to send and receive Bitcoins is your identity on the Bitcoin network and thus your pseudonym. There is no “validator” to approve your transaction, and you do not need to verify yourself when sending Bitcoins to others. However, Bitcoin does not offer the same anonymity as cash, as a user can potentially be identified by linking their Bitcoin address to their real identity.
Bitcoin transactions cannot be reversed, unlike electronic fiat transactions. Thus, one cannot go back in time and change a transaction once it has been completed. The consequence of this is that no one can manipulate, delete, or falsify data, which is considered to be one of the significant advantages of Bitcoin.
It is impossible to ignore the fact that Bitcoin’s return of over 10,000,000% since the currency came into the world makes all other investments pale. Many are wondering if Bitcoin can continue to rise in value. This is, of course, regulated by market forces – supply and demand. It is a fact that demand over time is increasing all while supply is limited. This is reflected in the price development on Bitcoin. There are 21 million Bitcoin and there will never be more.
Although Bitcoin has received a “death sentence” over 200 times, the currency today is “alive” and has repeatedly proven its resilience and potential. In the end, as with everything else, it is a matter of faith. The Dane and Bitcoin billionaire Niklas Nikolajsen, believed in Bitcoin already in 2011 long before most of us even had an idea that it existed. Today, he has built a business around Bitcoin and cryptocurrency. Niklas Nikolajsen still buys Bitcoin to this day.
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