Bitcoin started it all and it will eventually end it all as well. This is a statement that is pretty common among crypto enthusiasts around the globe.
With countries like the UAE getting into the crypto industry, the importance of BTC as a crypto asset is on the rise once again. Here’s how you can buy bitcoin by using any valid credit/debit card,
Open a Bitcoin Trading Account
Trading account is the only way you can buy bitcoin from an online or domestic trader with credibility. There are options out there where you can buy directly from the credit/debit card, but the risk level involved in such transactions is simply too much.
You can open up an account in a matter of a few minutes precisely. But you need to be very sure about the type of account you are looking to get into in the first place. Not all types of accounts will allow you to buy bitcoin directly into your wallet.
Make Your First Deposit
Once you have got the trading account of your choice, you can now initiate the process of trading officially. The very first step will be initiating a transaction from your bank account that will deposit money into your trading account. You definitely need a credit or debit card to get such a transaction going.
Also, there are some trading accounts that require you to deposit a certain amount of money in your account in order to be eligible for purchasing bitcoin. Make sure you go through all the rules and regulations of the platform before signing up for an account.
Follow the Regulations
There are certain regulations one needs to follow when buying BTC from a trading account. Most of the time, the regulations are restricted to the region you reside in the first place. For UAE residents, the regulations are quite strict.
That is why, it is always a better idea to access services of a local BTC or crypto exchange. In this way, you can get yourself marked safe from a lot of regulations. You can even evade certain heavy taxes by simply staying in line of doing business.
Keep an Eye on the BTC Price Fluctuations
The market has grown quite uncertain in recent days. From extreme pump and dump cases to the overall news fluctuations in the market, BTC has seen a lot in the recent days. As a result, the best option you can have is to thoroughly check the prices of BTC before trading it.
That’s the great part about crypto. You never know when you are going to hit the jackpot with your investment. But at the same time, you can hit the low bottom in a day as well. That’s why, thoroughly go through the price trends before making the right choice.
Buy the BTC in the Desired Quantity!
Last but definitely not the least you need to understand that there are no limitations to buying BTC in a certain amount. Most people believe that you need to buy a complete Bitcoin in order to get in the trade. But that is not always a must.
You must be buying Bitcoin in the amount you want to invest in the first place. This may include buying a certain fraction of BTC as well for the time being. Also, you can buy a certain segment of BTC for a certain price limit. But you need to have access to a great firm in order to enjoy such services.
Make sure you have an idea about Bitcoin price in UAE before you buy Bitcoin with your credit card or debit card. Bitcoin is a wonderful investment but it is always a good idea to stay within your financial limit before making any choice regarding BTC buying.