How to buy bitcoin 2021/ March
Buy bitcoin
Hi everyone watch this video till the end and i'll show you how you can buy bitcoin in germany hi everyone welcome back to my channel my name is Muhammad Ahsan and in today's video i'll
be talking about cryptocurrencies what kind of cryptocurrencies there are how you can buy them what do you need to store a cryptocurrency my opinions on how the cryptocurrency price is
going to go different sources from where you can buy cryptocurrencies in Germany and in the end
i'll also be buying bitcoin cryptocurrency or crypto in short is a digital currency meaning
it has no physical coin or bill you can transfer your cryptocurrency online to anyone without
using a bank there are many different kinds of cryptocurrencies out there however bitcoin and
ethereum are two of the most popular ones out there every day there are new cryptocurrencies
being created however being the oldest bitcoin is the most popular cryptocurrency out there
cryptocurrencies are decentralized meaning that the regulations for the cryptocurrencies are governed by majority of the community unlike a centralized currency which is regulated
by an authority a government or a specific body cryptocurrencies are also transparent meaning any
and all transactions made by a user are public now place in a public ledger well if a cryptocurrency
is digital and always online how do you store it well for that you need a wallet a wallet is
basically equivalent to a bank account it allows you to receive and send your bitcoin and other
cryptocurrencies so there are different kinds of bitcoin wallets each of them comes with their own
trade-offs security and convenience simply put there are two general categories for wallets
in order for you to store your cryptocurrency the first one is a hardware wallet and the second one
is a hot wallet so a hardware wallet is something that you have physically a hardware wallet as
as the name suggests is actually a piece of hardware in which you store your cryptocurrency
hardware wallets are secure offline devices they store your private keys offline so that
they can't be this means you can even use one on a malware infected computer but it is not
recommended that you do that hot wallets are bitcoin wallets or cryptocurrency wallets that run on an internet connected device like a computer mobile phone or a tablet as hot pilots
generate private keys on the internet connected devices these private keys can't be 100 secure
because they are always connected to a device and there's always small probability that they
can be hac##d when it comes to hardware wallets you have a variety available different companies
sell hardware wallets for example ledger nano x or ledger nano s so the nano x costs 120 euros
and the nano s approximately 60 euros these ledgers have different hardware configurations
different levels of securities so if you want to know specifically just go to the websites
and have a look what what are the differences what are the features etc again for hot wallets there are also a variety of options available you can have desktop wallets ios
android android wallets some wallets are specifically for bitcoin some are multi crypto compatible the so the desktop wallets would mean that you install the software on your desktop
computer and you store your cryptocurrency in that desktop wallet similarly if you have an iphone or an android mobile you can have apple specific wallets and android specific wallets
there is a large variety available you can go have a look on the web and see which wallet is best for
you either a hardware wallet or a hot wallet if you're investing a larger amount in cryptocurrency
it's better if you have a hardware wallet if you're investing a smaller amount then a hard then a hot wallet would be sufficient for you you can either select a desktop wallet
or an ios or android version wallet that would be more than sufficient but it's it's best that
you have a device that is secure if you're using a desktop wallet be sure that it's not infected by
any viruses just make sure it's not infected and if you have an android or ios also make
sure that it's not infected and you don't have any malicious apps installed which can steal your data
well you can buy cryptocurrencies from places that are known as exchanges one of the most popular one
is called coinbase here you can have a look at the prices for bitcoin ethereum litecoin bitcoin
cash a multitude of cryptocurrencies which are available in order to start buying or selling you
need to create an account with them just click get started and create an account apart from coinbase
there are also many reputable exchanges available for example if you just want to buy bitcoin
in germany the best place i would recommend is buying it directly from the bitcoin.de website
a big issue that comes in buying cryptocurrencies from these exchanges is the registration process
it can be very tedious in most cases you'll have to you'll have to provide certain documents
just like opening a bank account uh you have to provide your tax number register with your
passport and certain websites don't even allow for you to buy bitcoin or other cryptocurrency
because of your nationality if you're not a german citizen or a european citizen being a pakistani i found it very difficult because many exchanges simply rejected my application
it could be because of many reasons i won't go in the details for that so just be sure to read
whether or not your nationality is accepted in those exchanges before you think of buying
cryptocurrency from those exchanges an additional point would be even though there are many
exchanges where you can buy cryptocurrency some would sell you a bitcoin for cheaper than others but can be that the cheaper ones are not that much reputable they have some security issues so
just be sure to read out a little bit about how they're selling and how much security that they have so what i use is etoro for cryptocurrency so the the registration process with etoro is
very simple what i did was simply create my account with them provided my tax id number and
verified my telephone number and that was it for me and i was able to start buying cryptocurrency
uh they also accept paypal so i just transferred my funds from my paypal account within within my
etoro pro profile and i was ready to go within 10 minutes open your utor app and go to the profile
section fill out your details so that the account is verified once you have verified your account
just click on the deposit fund you can use whatever method you want either paypal debit card online transfer there are many options available
i selected paypal and it processed the fee very quickly as paypal works so just go back to your portfolio now here you will have your
available funds the profit that you have if you have gotten any profit and your equity i
added 200 euros in this account it got converted to uh the equivalent in usd here i've already bought 50 worth of bitcoin 25 year worth of ethereum and 25 euro worth of
ripple but now i am going to buy 100 worth of bitcoin so click on the bitcoin option click on
the buy option and if you select the amount just provide the amount of money you want to buy
here i will be putting 100 return and then just click open trade now i have bought 100
worth of bitcoin so this cryptocurrency that i have bought is stored by etoro and i can easily
transfer this cryptocurrency to either another hot wallet or a hardware wallet depending on whichever
i want to use like everything else in germany there are taxes associated with cryptocurrency
also capital gains will be applied to your profit if you sell your cryptocurrency within a year for
example if you bought bitcoin on 1st of january at 10 000 euros and then you sold it before 31st of december at again for example 15 000 euros this 5 000 euros will be subjected to capital
gains tax however if you keep your cryptocurrency for more than a year no capital gains tax will be
applied on it another thing is you have a 600 your exemption for profit per year on cryptocurrency
meaning if you have a profit of 600 euros from your cryptocurrency within a year you will have that tax free so in the end i would like to share my opinion on cryptocurrency
what i think about it and how is my investing strategy with cryptocurrency so cryptocurrency is
very volatile in 2017 the prices went up to twenty thousand dollars and went crashing down to three
thousand approximately three thousand dollars so the people who bought it at almost 20 000 lost about 17 000 euros or 17 000 dollars worth of value but with time again the prices are at
the highest that they have ever been the prices are touching almost 20 000 for a single bitcoin so
again there are different opinions among people either the price will go even higher it will go to
some people are saying it will go to even 300 000 per bitcoin some people are saying it will go back down crashing again starting of the new year it's very speculative
so i would say invest whatever you have in spare and you will not need it
in the future in cryptocurrency so anything that you want to use within the short term i would not recommend that you that you invest it in cryptocurrency because um it's very volatile we
have seen from experience that uh it has it has risen to twenty thousand almost twenty thousand
dollars and then coming back crashing to 3000 the volatility within a day is hundreds of dollars
you need to be careful again and not invest the money that you're going to need like a
couple of years also so my investing strategy in cryptocurrency and more specifically in bitcoin is that i will put in some money in cryptocurrency and forget about it for a couple of years
there are many other cryptocurrencies out there apart from bitcoin bitcoin is one of the most popular ones so i would try to invest the most amount in bitcoin however
i will try to i will also try to diversify my investments i will put some in ethereum some in ripple
i've also heard a lot about iota i will also be doing some research on that think about if
i want to invest in it or not so this video has been a little bit longer so i've tried to provide
information as simple as i can i know a lot of information might not be very in-depth if you want
me to make a video in depth on a specific topic just let me know in the comments and i'll try to
make a really detailed video on that specific topic again i'm not a financial advisor so
before you buy any kind of cryptocurrency do your due diligence research see what kind of wallet
you are interested in what kind of wallet would be good for you either a hardware one or a hot wallet
and if you like my video i would really appreciate if you hit the like button subscribe if you haven't subscribed already and i'll see you in the next video Bleib Gesund!
