How to Buy Bitcoin Online? Tutorial for Beginners and Start With $1

We will discuss how to buy Bitcoin simply, even starting with just $1! Seriously, with that little capital, you can already own a small piece of the most popular digital currency in the world.

Currently, Bitcoin is increasingly in demand because of its extraordinary profit potential.

According to data, more than 100 million people worldwide have invested in Bitcoin.

Come on, let’s start your investment journey with easy steps that beginners can follow! Ready? Let’s dive in!

How Do Beginners Buy Bitcoins?

Before AlgoVesting tell you how to buy Bitcoin on some of the most popular apps in the world, it’s better if you understand the buying process and mechanics first, so you don’t make any mistakes.

Here’s how the process goes:

Choose a Cryptocurrency Exchange

The first thing you need to do is choose a Cryptocurrency Exchange, which is a site or app that connects buyers and sellers of Cryptocurrency, including Bitcoin.

There are many types to choose from, ranging from CEX (Centralized Exchange) to DEX (Decentralized Exchange).

Here are some examples:

  • Coinbase
  • Kraken
  • Gemini
  • Cash App
  • Binance
  • ByBit

Pick one that suits your needs and preferences! How to do it is explained below!

Deposit Fiat

After you’ve chosen an exchange from the list above and created an account, it’s time to deposit fiat currency.

Most commonly used fiat currencies are in the form of dollars, which will be converted into USDT at a 1:1 rate.

Each exchange has its own methods and ways to deposit, so you can choose one that fits your preference.

Buy Bitcoin

Once you’ve successfully deposited fiat into USDT, it’s time to head to the USDT/BTC market.

You can start exchanging your USDT for Bitcoin.

When you buy, someone else is selling on that exchange, creating a trading process.

You can buy at the current market price, so the purchase will be executed immediately.

If you want to buy Bitcoin at a specific price, you can use a Limit Order.

If Bitcoin’s price hits your desired level and someone is selling at that price, your order will be executed.

Transfer Bitcoin

After successfully purchasing Bitcoin, for security reasons, it’s recommended to transfer it to your own personal wallet.

Bitcoin wallets come in many forms, including hard wallets, cold wallets, and more. We’ll discuss wallets in the next post!

How Much Will I Get if I Put $1 Dollar in Bitcoin?

To figure out how much money you’ll make if you buy $1 worth of Bitcoin, we need to look at the current market price and estimate future price increases.

According to Michael Saylor, Bitcoin’s price could soar to $10 million in the future. We can’t just ignore this information given Michael Saylor’s reputation.

For those who don’t know, Michael Saylor is an entrepreneur and business executive, and he’s the co-founder and executive chairman of MicroStrategy, a company focused on business intelligence, mobile software, and cloud-based services.

Over the past few years, he’s been super active in the Bitcoin world and often predicts its future price.

Saylor has also made several massive Bitcoin purchases.

So, if we consider Michael Saylor’s prediction that Bitcoin will reach $10 million, we can calculate how much money you’ll get if you buy $1 worth of Bitcoin at its current market price of $57,687 as of July 2024.

Here’s the math:

Initial Investment / Current Price = 1/57,687 = 0.00001734 BTC

Then multiply it by $10,000,000: = 0.00001734 x 10,000,000 = $173.40

So, we can see that your investment could increase by 173 times or 17,300%.

But remember, this is just a rough estimate and may not actually happen. Always consider the risks and potential losses before diving into any market!

How Much to Buy 1 Bitcoin?

As mentioned above, you can check the current market if you want to buy Bitcoin.

For example, as of July 7, 2024, the price of Bitcoin is $57,687.

This means you’d need that amount of money to buy 1 Bitcoin.

Now, to see the current market price of Bitcoin, there are a few ways you can do it:

Trading View

This is one of the most popular trading sites and apps in the world right now.

You can find prices for various asset classes, including Bitcoin.

To access it, visit TradingView.com.

Or if you want to check the current Bitcoin price directly, go to this link: TradingView Bitcoin Chart.

Coin Market Cap

CoinMarketCap is also a site and app that shows real-time cryptocurrency prices, including Bitcoin.

To check it out, visit this page: CoinMarketCap Bitcoin.

On CoinMarketCap, you can not only see the current Bitcoin price but also other data like Market Capitalization, 24-hour Volume, Market Volume, Total Supply, and more.

All this info can help you make decisions about buying or selling assets like Bitcoin.

Binance

Not only does Binance show current prices, but you can also buy and sell Bitcoin there.

This is because Binance acts as a Centralized Exchange, connecting buyers and sellers.

You can check the Bitcoin price here: Binance Bitcoin Price.

Coinbase

Meanwhile, Coinbase is one of the most popular Bitcoin wallets on the planet.

Remember, I mentioned it’s a good idea to move your Bitcoin from the Exchange to a personal wallet for better security.

Coinbase is one of the most recommended wallets.

You can also check the current Bitcoin price on Coinbase here: Coinbase Bitcoin Price.

How to Buy Bitcoin Online

Now that you know the basics of buying Bitcoin, let’s put it into practice step-by-step with pictures.

Choose the method you think is the coolest, then click the link to start following the super easy tutorial:

  • How to buy Bitcoin on Cash App
  • How to buy Bitcoin on Binance
  • How to buy Bitcoin with PayPal
  • Buy Bitcoin with Debit Card
  • How to buy Bitcoin with cash

Pick the one that fits your needs and preferences the best!

Leave a Comment