The fundamental of cryptocurrencies was to give an alternate payment method to the public. However, in the early stages of cryptocurrencies, stakeholders faced multiple problems. After a considerable period, many people came to know about the existence of bitcoin and tried to utilize this digital currency; however, due to complications, they could not use this virtual currency.
However, with time bitcoin started to evolve and technology solved these problems. To invest in bitcoin with complete authenticity and legitimacy, check bitcoin-buyer.io. One of the significant disadvantages of bitcoin in earlier times was that it was merely accessible with a computer.
Ethereum‘s developer, Vitalik Buterin, also pointed to the limited access of bitcoin. However, with the evolution of bitcoin, you can now buy bitcoin with an android device. Investing or purchasing bitcoin looks like a challenging task. But buying bitcoin is just like you buy groceries online on any website. Here is a complete guide to buying bitcoin with an android device
Bitcoin is a better alternative payment method!
Satoshi Nakamoto introduced bitcoin as an alternate payment method, but people have a mindset of making profits by bitcoin trading. Earlier, people were not ready to invest in bitcoin as this digital currency was utterly unknown. The history was also significantly less in contrast to other traditional investment assets.
The returns on these cryptocurrencies are exceedingly high. The adaptability of these currencies is booming.
Cryptocurrencies are not merely a method of making money as it has some real-life applications. For example, many multinational companies now allow you to buy goods and services with this payment method. NFT games are correspondingly booming as an alternate method to make a passive income.
As discussed above, investing in bitcoin at this instance is completely easy compared to previous years. Thousands of exchanges offer services both globally. Moreover, these trustable exchanges are now compatible with android devices and iOS devices.
After introducing cryptocurrency exchanges that are highly compatible with android devices, buying bitcoin is just like a piece of cake. To buy your first bitcoin with the help of android devices, you need to follow a few steps.
Look for Bitcoin Exchange Applications
Bitcoin exchange applications allow you to buy a bitcoin unit using an android device. Earlier exchanges were compatible only with the Windows operating system, but many bitcoin exchange applications are available. However, you should ensure the authenticity of the trustable exchange you choose to buy a bitcoin unit.
The google play store hosts many bitcoin exchange applications. One of the significant advantages of downloading the bitcoin exchange from the play store is that you can check the reviews of other customers regarding a direct exchange. The google play store only hosts trustable exchanges with a good user base. Google play store hosts both foreign and local exchange. To buy bitcoin, you should always prefer local exchange as the transaction fees on local exchange is significantly less.
Create an Account and Verify!
After choosing a bitcoin exchange application, you have to create an account step. Creating an account necessitates both an email address and a mobile number, and after providing these two, you have to secure your user account with a password. Finally, after creating an account on any bitcoin exchange, you have to move to the KYC step.
KYC stands for knowing your customer, and the trustable exchange performs this step to create an ecosystem of only trusted buyers and sellers. KYC requires nothing but a government-based identity and asks you to click your picture through its application. KYC usually takes 5 to 10 minutes on the popular exchange. But some exchanges take even a week to perform the KYC.
After registering on the bitcoin exchange application, you can buy your bitcoin. Bitcoin exchange allows you to buy bitcoin with multiple options foremost is P2P transfer, second is bank account transfer. The bitcoin you bought either goes into your funding wallet or in your spot wallet.
You can also convert bitcoin into cryptocurrencies like Shiba Inu coin and dogecoin. If you consider investing a small amount in bitcoin, you can first buy currencies like tether and then convert them into bitcoin.