Bitcoin is the first-ever cryptocurrency or virtual currency to display an exceedingly brilliant exponential growth in such a short time. The value of bitcoin is consistently rising with the passing decades; according to proficient predictors and analytics, bitcoin will achieve the mark of $100000 in the fore coming years.
Investing in bitcoin might sound like a challenging task at the very first instance as you need to turn your computer screen, plump for the best exchange and many other tasks. The fact might amaze you, but you are now permitted to avail your foremost bitcoin from an android device only. Investing in bitcoin from an android mobile is one of the utmost productive and efficient methods to start your bitcoin investment expedition. Below mentioned are few sizzling steps which you need to follow for buying your first bitcoin, so without wasting any dues, let’s get started.
Cherry-Pick A Reliable Exchange Android Application
Exchange forums offers the investor and traders to buy and sell bitcoin at the highest liquidity. The advancement of technology have led to the introduction of application platform to buy and sell bitcoins. There is ample application forum that is available on the play store and several other inbuilt application stores. Bear in mind, in order to avail your first bitcoin from the desired application, you must check the geo-based restrictions rendered by the application.
Circumstances exist comprehended, where applications concentrate offering services to specific locations only, the bitcoin algorithm and complex necessitates the users to choose the application rendering services in your region too. Additionally, check out the incline of transaction approaches offered by the application, ensure the application you are about to think through must deal with your desired payment method.
Know Your Customer Process
The utmost fundamental for opting for an application for bitcoin investment and trade is to determine the Know Your Customer (KYC) process. The KYC process may vary from application to application as it consumes from 10 minutes to 10 days entirely, depending upon the verification team of the platform. The involvement of the KYC process sustain the authenticity as well as the anonymity of the bitcoin complex at the very same time, and without the centralization process of these applications, the bitcoin network can transform in a bit vulnerable way.
Once you have plump for the trustable exchange, you need to create an account on the application. After the completion of account creation, the users will notice the ‘verify your account’ button on the app. The verification process requires a government-issued identity and nothing else. The user interface of the application will pop up on the camera, and you have to click your picture while holding the government id; moreover, you have to send a separate photo of the identity, both front and back.
Connect Payment Method
The Know your customer process may consume few minutes to few days. After the completion of the KYC process, users are permitted to associate the expense source with the application for making transactions. It is quite obvious, devoid of payment source; you are not allowed to make transactions on the app. However, the application format must render you the top-tier liquidity, so negative fluctuation must not affect your wallet.
The existence of traditional banking methods on these apps like a credit card, visa, master card determines the authenticity of the application format. Moreover, there is a huge bucket list of payment methods rendered by trusted applications. The forums allows you to add your traditional bank account without any efforts.
Buy Your First Bitcoin From An Android Phone
Consequently, succeeding the above discussed mentioned route, you can buy your foremost bitcoin from an android phone without even turning on your computer screen. However, novices must be familiar with the extremely volatile nature of the bitcoin. Avoid buying bitcoin under the influence of peer pressure and perform on the basis of facts and graphs only.
Bear in mind, before buying bitcoin, keep a real-time check on the candlesticks and market capitalization of bitcoin. Users are permitted to buy bitcoin either from the trustable exchange authorities or from the premium members of the application.
These are some of the utmost essentials which you must follow in order to buy your first ever revolutionary cryptocurrency, bitcoin. You can check out Immediate Edge for buying your first bitcoin app