Over 18 million bitcoin, at present, are in circulation. Many regard it as digital gold. The Covid-19 pandemic brought a booming period for bitcoin, as people preferred digital assets to traditional money. In 2021, bitcoin’s value touched $60,000.
Do you know El Salvador is the first country to announce a bitcoin legal tender in the year 2021?
Bitcoin requires a digital or crypto wallet. When you buy, sell, trade it, or use it for purchases, you transfer this currency from one digital wallet to another.
Types of crypto wallets
You can store bitcoin in two kinds of wallets:
- Hot wallets: These wallets require an internet connection. They are usually free to use.
- Cold wallets: These wallets require no internet connection. The commonest types of cold wallets are hardware devices.
You can easily buy or sell bitcoin online through a reliable cryptocurrency platform. However, the easiest and the quickest way to buy and sell this digital currency is through BTC ATM. It is easy to locate one near you through an online search.
Easy steps to buy bitcoin
- Open an account on a reliable cryptocurrency platform
- Carry out the formalities of the identity verification process
- Transfer money from your bank account depending on how much you want to buy
- Make the purchase
Advantages of buying bitcoin
- You can buy safely and anonymously through a bitcoin ATM in Georgia. Personal details like credit card numbers or names are not required in transactions. This reduces the risk of identity theft or using information for illegal sale.
- You can send bitcoin to anybody, anytime, anywhere.
- Bitcoin is, potentially, a valuable currency due to its finite nature. Only 21 million bitcoins are for supply. This makes it more precious. There is scope for a huge value boost.
- Bitcoin, being independent of governments, banks, and other third parties, is an attractive decentralized currency free from conventional banking procedures.
- Buying bitcoin is amazingly easy. Just search for “bitcoin machine near me” and buy from the machine.
Disadvantages of buying bitcoin
- Bitcoin is a highly volatile cryptocurrency. Today, you may invest at a good price. Tomorrow, its price may crash, giving you a loss. This is a high-risk investment.
- Hackers have found a way to hot wallets. Many high-profile thefts have been reported. So, ensure your crypto platform is reliable and safe.
- Bitcoin is an unregulated currency. Many countries don’t consider it legal, while China has recently imposed a ban on cryptocurrencies. Thankfully, the US considers it legal. But, if you are outside the US, please ensure whether buying bitcoin is legal in your country.
Crypto ATMs in Georgia have made it easier to buy and sell cryptocurrency. But, you mustn’t put all your eggs in one basket. Invest smartly. Maintain a diversified investment portfolio. You could say, invest 10 percent of your money in bitcoin. For the rest, you must explore other options.
So, if you haven’t tried bitcoin yet, time to do so. Just find an ATM near you by visiting https://www.cryptobaseatm.com/location_category/georgia/ and buy some digital gold.