In 2017, the cryptocurrency market attracted a large number of new customers and became one of the most popular and profitable industries. The real boom happened due to the growth of many coins’ rates. It was Bitcoin that played a key role in this event — this crypto has risen to its historical maximum and has broken all records.
Bitcoin is no longer a hype toy but quite an attractive investment tool, the growth potential of which, according to analysts, is unlimited. Now people can easily earn money even on the bitcoin exchange. This article explains how to do it!
How to Exchange Bitcoin Now Profitably?
It should be noted right away that there’s no universal method suitable for everyone on the market at the moment. The final choice depends on the client’s preferences, goals, security considerations, willingness to incur additional costs and the level of knowledge in the cryptocurrency industry.
So, now Bitcoin can be exchanged through the following services:
- bitcoin exchangers;
- cryptocurrency exchanges;
- bitcoin wallets;
- private selling outside the exchanges.
For the users’ convenience, each of the methods is already described in detail below.
Exchangers
This is the easiest and fastest way to convert Bitcoins into fiat money since there are thousands of such services on the Internet today. To choose a reliable service, it’s better to contact the monitoring site. Only honest exchangers are collected there, and the clients’ funds won’t end up in the hands of scammers.
Cryptocurrency Exchanges
Most brokers offer users a direct withdrawal from the exchange account to the card. If the Bitcoin exchange rate suits, then this method is no worse than the previous one. But exchanges need to be chosen carefully: the receipt of funds from foreign sources may attract the bank’s attention, which threatens to block an account.
The disadvantage of the sites is that in most cases, operations require verification — confirmation of identity. For this reason, the exchange of Bitcoin for real money can be delayed, and the commission for the withdrawal of fiat can sometimes reach 10%.
Bitcoin Wallets
The method is one of the safest, simplest, and most convenient options, the use of which will bring benefits, not stress and a long wait for a transaction. A crypto wallet, as a Bitcoin exchanger, has a lot of advantages, namely:
- simplicity and convenience;
- efficiency;
- absolute security;
- benefit;
- anonymity (there’s no need to go through the identification procedure).
Today, many developers create several versions of applications that can synchronize with each other. That is, it’s enough for a user to install the same cryptocurrency wallet on a computer and a smartphone to have constant access to their virtual assets.
Any crypto wallet should have a fairly high level of security. Before choosing, it’s advisable to go to the official website of the cryptocurrency that you choose for long-term storage and get acquainted with the list of recommended programs. A reliable wallet for storing electronic coins has:
- two keys — private and public;
- several types of access;
- security levels.
Using an online wallet is convenient and simple for novice clients — it doesn’t require installation, and functions aren’t inferior to desktop utilities.
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