How to Play Bitcoin in 6 Steps

How to Play Bitcoin in 6 Steps

As the price of Bitcoin or digital currency has risen sharply and has managed to reach a price of hundreds of millions of people more and more people are curious about what Bitcoin is and how to play Bitcoin.

How to play Bitcoin

For those who are new to Bitcoin or crypto currency, they must be confused about how to play Bitcoin. Relax, you're not the only one who's confused. There are many ways to play Bitcoin. Some of them are as follows:

1. Best Exchange List

You must register on an exchange platform. If you are still confused about which Indonesian Bitcoin exchange is right for you

After registration, you are required to do the KYC or Know Your Customer process. In this process, you must upload a photo of your KTP and also your personal photo.

This process is needed to secure accounts and avoid fraud or fictitious accounts.

After uploading the required documents, your account will be verified within 1 × 24 hours by the exchange platform.

2. Buy Bitcoin

If you have registered and deposited on the best exchange, then the next way to play Bitcoin is to buy Bitcoin.

Profits can be obtained when you buy Bitcoin at a low price, then sell Bitcoin when the price is rising.

3. Bitcoin Trading

Trading is the process of trading Bitcoin. In trading there are several strategies or methods required. Here are some trading methods you can do:

Hodl

After you buy Bitcoin, you can store BTC as a long-term investment or what is commonly known as Hodl

Also Read: The Most Producing Android Bitcoin Mining Application 2021

Day Trading

When you buy and sell Bitcoin on the same day. You have to keep an eye on BTC price movements in order to know when is the right time to buy and sell Bitcoin.

Pump and Dump

You can buy a large amount of BTC to influence the Bitcoin price and sell it when the price has gone up. Usually, whales or large investors use this method

4. Selling Bitcoin

Step after buying and you feel that you have made a profit. You can immediately sell it on the exchange where you register.

From this selling process, you can exchange the results into rupiah to buy daily necessities.

5. Bitcoin mining

Mining is one of the ways to get Bitcoin. Mining is a way of mining Bitcoin by solving complex mathematical problems.

Bitcoin miners are called miners, every miner who manages to solve complex mathematical problems they will get Bitcoin as a reward.

Mining Bitcoin is a difficult process, because you have to understand computers, be able to solve difficult math problems and have qualified mining tools.

If you are interested in playing Bitcoin with mining, you can do solo mining or join an easier mining pool.

6. Free Bitcoin or Airdrop

Who likes freebies? Believe it or not, you can get BTC for free, you know. These free bitcoins are often referred to as aridrops.

But, you have to be careful with free Bitoin offers, because nowadays it's increasingly difficult to find airdrops with Bitcoin prizes because the price is already very expensive and the number of Bitcoin is limited, which is only 21 million.

That's how to play Bitcoin, so that playing Bitcoin will bring you profit, make sure you have done your research and know all the risks and benefits. Enjoy playing Bitcoin