Benzinga Shorts: How to Buy Bitcoin

With over half of the USD supply printed last year, it’s hard to argue against Bitcoin’s permanently transparent inflation strategy. Unlike the US dollar, which can be printed indefinitely and beyond, there will never be more than 21 million bitcoin.

Besides, now that Bitcoin When it is legal tender in El Salvador, it is difficult to argue that it is not legitimate money. If you haven’t bought Bitcoin yet, the May crash could be your second (and perhaps last) chance to get in this market cycle for a good price.

Warren Buffet was quoted as saying, “When there’s blood in the streets, you buy”. The longtime Bitcoin owners have listened, and so can you.

While many newbies to crypto were put off by the May price correction, long-term Bitcoin holders started net accumulating for the first time in 2021.

Bitcoin’s three previous market cycles had double highs, and this data suggests that long-term, seasoned investors believe we are currently in another phase of accumulation.

If you are already set up with PayPal, Venmo or CashApp, you can buy Bitcoin directly from them. Although the best course of action is to buy through an exchange like Coin base or Twins where you can send it from the platform to a cryptocurrency wallet for safe keeping.

Creating a Coinbase or Gemini account as a US citizen is incredibly easy and can be done in 5 minutes once you have the right information ready. For tax purposes, the US needs your SSN, driver’s license, and personal information to start trading. Coinbase and Gemini will ask for this information when you set up your account.

Once you’ve verified your identity, you can add a bank account and buy bitcoin!

Side note: Coinbase and Gemini both use plaid to connect to your bank account, which could rule out smaller local banks.

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