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 tight range of $18,000 to $24,000, keeping investors on their toes as to where the price is heading. The price is currently at the lowest level of 2022: this is the perfect time to stock up on BTC at a good price!
So, where and how to buy bitcoins in 2022? Currently, several platforms allow you to invest in this cryptocurrency. The choice will depend mainly on the type of investment you want to make: a direct purchase or a trade. Find details in this guide.
How and why to buy bitcoins in an easy way on a regulated French platform? (tutorial, September 2022)
Coinhouse is an easy-to-use cryptocurrency exchange. It is interesting to note that this is also a physical space where interested parties can exchange cryptocurrencies.
Steps to follow to buy bitcoins through Coinhouse
Now here are the steps to follow to buy bitcoins through the Coinhouse exchange.
1- Open an account
To get started, go to Coinhouse and click “Open Account”. Next :
- Enter your email address
- Open the email sent by Coinhouse to verify your email address.
- Create a secure password
2- Fill out the registration form and verify your account
Now the platform will ask you to select the type of account you want to open: personal, corporate or associative. Then :
- Fill out the form with your personal details: full name, date of birth, nationality and physical address.
- Verify your phone number
- Provide proof of identity: CNI or passport
3- Determine the payment method that suits you
Now you must determine the payment method that suits you. You have a choice between a credit card and a SEPA transfer. The site then asks you to provide information regarding the selected mode.
4- Connect your crypto wallet
It is always recommended to transfer your bitcoins to your crypto wallet 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.
Related to this article: Investing in Alibaba stock: Why are stocks hovering around $160?
5- Buy bitcoins
Now you can buy bitcoins. To do this, return to the dashboard, then:
- Click “Buy Bitcoin”.
- Choose a payment method to use
- Provide information about the purchase: currency purchased, address of your previously confirmed portfolio, investment amount
- Enter the security code sent via SMS (two-factor authentication)
Advantages and limitations of Coinhouse
In the following table, you will find a summary of the strengths and weaknesses of the Coinhouse exchange.
- The exchange is registered with the Autorité des Marchés Financiers (AMF)
- Intuitive interface and ease of use
- Diverse educational content for beginners
- Multiple account types
- Carefully crafted selection of cryptocurrencies
- Safe and fast transactions
- French interface
- No mobile app
- Fairly high fees and commissions
Buy Bitcoin (BTC) in September 2022: What you need to know
1 – What is bitcoin cryptocurrency (BTC)?
- Core Principle: With more than a decade of existence, Bitcoin is the world’s most capitalized reference digital currency. This is a decentralized protocol, the purpose of which, in particular, is to offer an ecosystem through its BTC currency, accessible to everyone and independent of states and traditional currencies. Bitcoin has the peculiarity of having a limit of 21 million bitcoins that will be put into circulation.
- Usage: The Bitcoin network is protected by miners who verify all transactions carried out on this network. In order to be confirmed, transactions are included in a block, which must comply with very precise cryptographic rules that will be verified by the network itself. All transactions on the Bitcoin network are recorded and can be accessed by anyone, user or not, at any time.
2 – The project and blockchain behind Bitcoin
- Project: Bitcoin is a particularly large and dynamic project with multiple development teams around the world working on various aspects of the project. Because the source code is free, open to access, and free of rights, any developer can contribute to the creation of Bitcoin. Several well-known teams are directly involved in the development of Bitcoin: Bitcoin StackExchange or Slack from Bitcoin Core.
In addition to developing the Bitcoin ecosystem, there are 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 creation of a blockchain, that is, a public ledger that records all transactions and data associated with its activities since its inception. Anyone can freely consult operations at any time, this is the very essence of system independence and security.
3 – Bitcoin (BTC) Analysis and Opinion
- Due to its long history, Bitcoin has the most developed ecosystem, very high liquidity and is the most famous cryptocurrency with brands and merchants all over the world.
- Bitcoin also has interesting features for businesses, especially in terms of security (with multi-signature authorization) and accounting transparency.
- This ecosystem is considered to be very/too energy intensive due to the computational complexity required for mining. Bitcoin production is also mainly located in countries where electricity is cheaper to increase the profitability of mining activities. Due to the use of Proof of Work, converting bitcoins to fiat currency and transactions in general incur significant costs. Finally, transaction speeds and fees fluctuate greatly depending on mining efficiency and network congestion.
Frequently Asked Questions About Buying Bitcoins
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 to trade 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 specialized technical and fundamental analysis skills. Therefore, it is usually recommended for experienced traders. However, 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 store your cryptocurrency?
Physical or hardware wallets are generally the most secure as they are not connected to the internet.
What is the minimum deposit on eToro?
The minimum deposit on eToro is $200 or equivalent in another currency.
How does a trading robot work?
The trading robot scans the market to find the best trading opportunities. Then he makes the necessary decisions and opens a position without requiring human intervention. It works as long as it is activated.
The founder of Rente et Patrimoine, Pierre Perrin-Montlouis, is a true investment and trading specialist: Forex, Cryptocurrency, Stock Market, Real Estate… Former Head of Market Analyst for an online broker, writes articles for learning to trade and analyzes the latest news to help you identify capabilities.