This digital currency was created by Satoshi Nakamoto in 2009. In 2022, it is among the largest cryptocurrencies in the world, with a market capitalization of $774.966 billion. In addition, many companies now accept it as a means of payment for purchases or services.
Bitcoin continues to trade in a narrow range between $18,000 and $24,000, which keeps investors on edge about where the price is headed. The price is currently at its lowest level of 2022: it’s the perfect time to stock up on BTC at a good price!
So, where and how to buy Bitcoins in 2022? Several platforms currently allow you to invest in this cryptocurrency. The choice will depend mainly on the type of investment you want to make: direct purchase or trading. Find the details in this guide.
How and why buy Bitcoins in a simple way on a regulated French platform? (Tutorial September 2022)
Coinhouse is an easy-to-use cryptocurrency exchange. It is interesting to note that it is also a physical space within which interested parties can exchange cryptos.
The advantages and limitations of Coinhouse
Discover in the following table a summary of the strengths and weaknesses of the Coinhouse exchange.
The steps to follow to buy Bitcoins through Coinhouse
Now here are the steps to follow to buy Bitcoins through the Coinhouse exchange.
1- Opening an account
To get started, go to Coinhouse and click on “Open an account”. Next :
- Indicate your email address
- Open the email sent by Coinhouse to confirm your email
- Create a secure password
2- Complete the registration form and authenticate your account
The platform now asks you to select the type of account you wish to open: personal, company or association. Then :
- Complete the form by providing your personal details: full name, date of birth, nationality and physical address
- Verify your phone number
- Provide an identity document: CNI or Passport
3- Determine the payment method that suits you
You must now define the payment method that suits you. You have the choice between the credit card and the SEPA transfer. The site then asks you to provide information relating to the chosen mode.
4- Connect your crypto wallet
It is always recommended to transfer your Bitcoins to your crypto wallet in order to keep them safe. To do this, you need to connect your wallet to Coinhouse. Click on the “Wallet” menu, then on “Link a new wallet” and follow the instructions.
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5- Buy Bitcoins
You can now buy Bitcoins. To do this, go back to the dashboard then:
- Click on Buy Bitcoin
- Choose the payment method to use
- Indicate the information concerning the purchase: the currency to be purchased, the address of your previously confirmed portfolio, the amount of the investment
- Enter the security code sent by SMS (2-factor authentication)
Buy Bitcoin (BTC) in September 2022: the essentials to know
1 – What is Bitcoin crypto (BTC)?
- Basic principle : With more than a decade of existence, Bitcoin is the reference digital currency throughout the world with the largest capitalization. It is a decentralized protocol which aims in particular to offer an ecosystem via its BTC currency, accessible to all and independent of States and traditional currencies. Bitcoin has the particularity of having a cap of 21 million bitcoins that will be put into circulation.
- Use : The Bitcoin network is secured by miners who verify all transactions made on this network. To be confirmed, the transactions are included in a block which must correspond to very precise cryptographic rules which will be verified by the network itself. All Bitcoin network transactions being recorded, each individual, user or not, can access it at any time.
2 – The project and the blockchain behind Bitcoin
- Project : Bitcoin is a particularly large and dynamic project, in which multiple teams of developers around the world are working on different aspects of this project. The source code being free, open to access and free of rights, any developer can contribute to the Bitcoin building. A few well-known teams are directly involved in the development of Bitcoin: Bitcoin StackExchange or Slack from Bitcoin Core.
Besides the development of the Bitcoin ecosystem, there are also many free software projects that developers can work on, such as Bitcoin Wallet, BFGMiner or Armory.
- blockchain : Bitcoin is based on the principle of Proof of Work (proof of work) and on the implementation of a blockchain, that is to say an open register which records all the operations and data related to its activity since its creation. Anyone can freely consult the operations at any time, this is the very essence of the independence and security of the system.
3 – Analysis and opinion on Bitcoin (BTC)
- Due to its long history, Bitcoin has the most developed ecosystem, very high liquidity, and is the most established cryptocurrency with brands and merchants around the world.
- Bitcoin also has interesting features for businesses, particularly in terms of security (with multiple signature authorization) and its accounting transparency.
- This ecosystem is considered very/too energy intensive because of the complexity of the calculations required for mining. The production of bitcoin is also mainly located in countries where electricity is cheaper, to increase the profitability of the mining activity. Due to the use of Proof of Work, the conversion of Bitcoins into Fiat currency and transactions in general entail significant costs. Finally, transaction speed and fees fluctuate a lot depending on mining efficiency and network congestion.
Buying Bitcoin FAQs
How to invest in Bitcoin in 2022?
On the one hand, you can buy Bitcoins on exchanges like Coinhouse or Binance. On the other hand, you have the option of trading the assets without owning them with a regulated broker such as eToro.
Is Bitcoin trading suitable for beginners?
Bitcoin trading is a risky business that requires special skills in technical and fundamental analysis. Therefore, it is generally recommended for experienced traders. Nevertheless, beginners can use a bot like Bitcoin Trader if they want to invest in this cryptocurrency through trading.
What type of crypto wallet should you choose to keep your cryptocurrency?
Physical or hardware wallets are generally the most secure since they are not connected to the Internet.
What is the minimum deposit on eToro?
The minimum deposit on eToro is $200 or the equivalent in other currencies.
How does a trading robot work?
A trading robot scans the market to find the best trading opportunities. He then makes the necessary decisions and opens the position without requiring human intervention. It operates as long as it is activated.