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10 Reasons to Use Coinbase to Buy Your First Bitcoin


10 Reasons to Use Coinbase to Buy Your
First Bitcoin

10 Reasons to Use Coinbase to Buy Your First Bitcoin

Image Source: Unsplash‍

In this guide, you will discover why buying your first bitcoin might be the best option for your financial future.

You may have come across news about how digital currency has impacted the stock market and how it is expected to continue growing.

This article will show you the benefits of using a company like Coinbase to purchase your first Bitcoin.

We’ll explain why it’s the best way to get started with cryptocurrency and what you can expect from this process.

1) What is Coinbase?

- Coinbase was founded in 2012 as a way to make Bitcoin more accessible to the masses.

- It acts as an intermediary between you and the cryptocurrency exchanges where you can buy various altcoins (cryptocurrencies other than Bitcoin).

- It’s a fully regulated company and is one of the most trusted names in the cryptocurrency space. If you’ve ever bought a stock, you’ve used a brokerage like Coinbase.

- They are a one-stop shop that makes the process of buying cryptocurrencies easy and accessible to the general public.

- They have made a name for themselves as a reliable and trustworthy way to buy and store cryptocurrency. It’s important to note that Coinbase is only available in certain countries.

- Before you sign up, make sure you check if they operate in your area.

2) How to buy Bitcoin from Coinbase ?

- There are a few steps to go through before completing your first transaction. You’ll first want to start by making an account on Coinbase.

- After you’ve entered the required information and reached the verification stage, you’ll be asked to link your payment method.

- You can link your bank account, debit card or credit card to make the process even quicker.

- Depending on your payment method, this step could take a few days or a few weeks.

- Once your payment method is linked, you’ll be ready to buy your first Bitcoin.

- You’ll simply choose how much you want to invest, and then select “Buy Bitcoin”.

- Once the transaction goes through, your Bitcoin will be stored in your Coinbase wallet.

- You can read more about the Coinbase process here.

3) Why you should buy your first Bitcoin now ?

. There are plenty of reasons to buy your first Bitcoin now.

. This is especially true if you are looking at it as a long-term investment.

. Buying Bitcoin right now could help you with three major financial goals.

. It can help you reach your retirement goals, help you build your emergency fund, and help you save for major purchases.

. Retirement - Let’s start with your retirement. If you’re 50 years old, you probably still need to save for the next 30 years before you can retire.

. If you are starting early, you’ll have a much higher chance of reaching your goals.

. Bitcoin has seen an upward trend, mostly due to its limited supply.

. As more people buy and sell Bitcoin, the demand for the digital currency will only increase.

. This means that Bitcoin’s value will also climb further.

4) Building an emergency fund?

- A lot of people find it hard to save up for emergency

- The best way to do this is to set aside a certain amount from each paycheck.

- You’ll then want to put that money away until you have enough saved to cover three to six months of living expenses.

- If you add Bitcoin to the mix, you’ll be able to reach your goal even faster.

5) Saving for a major purchase?

- Finally, you can use your extra savings to help save for a major purchase.

- Whether you want to buy a house or a car, you can use your savings to make the purchase quicker.

6) 3 Reasons to Invest in Bitcoin Now?

. There are plenty of reasons to buy your first Bitcoin now.

. At the top of the list is the fact that Bitcoin’s value has only increased over the years.

. This will likely continue as long as the demand for the currency continues to rise.

. What’s even better is that the supply of the currency is static.

. This means that as more people want to purchase the currency, the price will naturally increase.

. These are the top three reasons to buy Bitcoin now.

7) Network Effect?

- The network effect is the theory that a product or service becomes more valuable as more people use it.

- This is especially true for Bitcoin as more people invest in it and make it the standard for cryptocurrency.

- This will create a positive feedback loop for Bitcoin, which will increase its price even more.

8) Network Security?

The fact that Bitcoin has a limited supply also contributes to its security.

As more people invest in the digital currency, more miners will dedicate their computing power to securing the network.

This will make it more difficult to hack and break the network.

As an added security measure, you should always store your Bitcoin in a wallet that you control.

9) Summing up

- There are many reasons to buy your first Bitcoin.

- You can use your extra savings to retire early or build a larger emergency fund.

- You can also use your investment to buy a house or car sooner than expected. You can also invest in Bitcoin to secure your financial future.