In recent years, as the popularity of Bitcoin continues to rise, many novice users have considered buying it after hearing that Bitcoin can make money. But there is a lot of confusion.

For example, where to buy, can you use Alipay, can you use RMB, how to buy, what procedures are required, how much to buy, can you make money after buying, how to keep it, etc.

Let’s talk about some issues that newbies should pay attention to when entering the currency circle.

First, where to buy Bitcoin?

When novice investors buy Bitcoin, they usually choose a suitable Bitcoin exchange that is the one with the most users. It is the safest, the cheapest, the most comprehensive, the most timely for currency listing, and the best experience. The best choices for domestic users are Oyi and Binance.

What payment methods are supported for buying Bitcoin?

Buying currency in RMB supports Alipay, WeChat payment and bank cards, and pays in RMB.

The process is to select the merchant's sales order and pay first. The platform will freeze the merchant's corresponding currency. After the payment is completed and the merchant confirms, the currency will be in your name. You can first buy USDT in the legal currency area, and then go to the currency exchange to buy BTC with USDT. You can also buy BTC directly in the legal currency area. There will also be guidelines for new users in the app, so just follow them. There are no handling fees for this type of legal currency C2C point-to-point transactions.

Newbies all have doubts: Should I buy Bitcoin? Can I make money by buying it? How much can you expect to earn?

Generally, people who hold Bitcoin like to tell you about the "inflation" logic. That is, fiat currencies are constantly being issued. An asset like Bitcoin, with a limited total amount, is similar to gold and must appreciate in the long term. This logic depends on whether you pay for it. Let me talk about it from the perspective of historical prices. Analyzing the Bitcoin price trend from 2017 to 22, the high in 2017 was $20,000 and the low in 2019 was $3,000, a decrease of 80%; the high in 21 was $60,000, more than three times the increase from the previous high. The low in 2021 was $30,000, a drop of 50%. Analyzing the trend in the past five years can illustrate two points:

1. Bitcoin is relatively volatile, and it is normal for it to fall by 50%-80% from its high point, so you must choose the right time to buy and pay attention to whether you can bear this risk;

2. The volatility is considerable, and you are expected to get a lot of volatility profits after buying at a low point. It can be used as another part of the allocation in addition to cash, real estate, and the stock market, and its value for the yield elasticity of the position is valued. For example, if you allocate 10%, it can give you a 30% possibility of fluctuation within 1-3 years. If you lose, you lose, say, 5%, and if you make a profit, you earn 30%. This kind of fluctuating value cannot be compared with stocks and cash.

Therefore, if you don’t have much money and are a young person, it is recommended to increase the proportion of Bitcoin in your investment portfolio. After all, young people need more possibilities (volatility). If you have strong assets, it is recommended to allocate 10%, for example, to increase the flexibility of the position. The loss will be limited. If you make a profit, you can greatly increase the profit of the position.

Many people also ask, is it recommended to buy Bitcoin now? When is the best time to buy Bitcoin?

The simple suggestion is to start buying Bitcoin when it drops 50% from its highest point, and fill the position if it drops 80%.

Refer to this rhythm. The less money, the better the timing. The bigger the funds, the harder it is to choose the right time, just buy in batches.

What should I do if Bitcoin is too expensive and I can’t afford it?

This is a misunderstanding made by many newbies. It is because of this illusion that prevents them from taking the first step.

A very important feature of Bitcoin is divisibility. You can also buy it for 0.01 yuan, or you can buy it for 100 yuan.

So don’t worry about not being able to afford it, it’s just a question of how much you are willing to buy.

Doesn’t China ban digital currency transactions? How can I still buy it? Is it a crime?

This topic is sensitive. Objectively speaking, it is indeed prohibited, but many overseas exchanges opened by Chinese people provide services to Chinese people.

Your personal buying and selling of coins can be regarded as personal investment behavior. However, using virtual currency to engage in illegal and criminal activities, such as money laundering, is definitely not advisable and will be severely punished.

Moreover, since the currency circle is filled with a large amount of black money, if you encounter black money in the process of depositing and withdrawing money, and the amount is huge, it will also be suspected of being a credit card, and your bank card will most likely be frozen and subject to bank supervision. Specific reasons for bank card freezing.

Is it safe to buy Bitcoin? Will he be run away? How to keep Bitcoin?

If you have a large amount of Bitcoin funds, it is recommended to put it in a personal software address wallet, such as imtoken, but if you just want to hold and trade digital currencies, just put it directly in the exchange. As long as it is a reliable exchange, because it is a very profitable business, it will not run away, and security is guaranteed. If you put it in your own hands, it will be easily lost. There is no charge for storage and it can be kept on the exchange for a long time.

When a newbie enters the currency circle, here are some basic issues to pay attention to:

1. Understand cryptocurrencies: Before you get started, make sure you have a basic understanding of cryptocurrencies. Understand what cryptocurrencies are, such as Bitcoin, Ethereum, etc., and understand their fundamentals and technology.

2. Research Project: Sufficient research is necessary before investing in any cryptocurrency. Understand the project’s background, team, technology, white paper and other information. Understand the practical application and potential risks of the project.

3. Investment Risks: Understand the high-risk nature of the cryptocurrency market. The cryptocurrency market is highly volatile and prices can fluctuate rapidly, so adequate risk tolerance and psychological preparation are required.

4. Security: Make sure you take the necessary security measures to protect your cryptocurrency assets. This includes using a secure wallet, setting strong passwords, enabling two-factor authentication, and more.

5. Diversify your investments: Don’t put all your eggs in one basket and diversify your investment risks. Consider investing in different cryptocurrency projects to reduce risk.

6. Trade with caution: When trading, make sure to choose a safe and reliable trading platform and be familiar with the trading rules and fee structure. Carefully assess market trends and risks, and avoid blindly following trends or impulsive trading.

7. Continuous learning: Knowledge and technology in the cryptocurrency field are constantly developing. Maintain a learning attitude and keep track of the latest industry dynamics and trends. Participate in community discussions, read authoritative industry information, and continuously improve your knowledge. 8. Don’t be greedy: Set reasonable investment goals and risk tolerance, and stick to your investment plan. Don't be swayed by market sentiment and short-term fluctuations, and avoid blindly chasing short-term profits.

Please remember that the above are just some basic questions. Further understanding and in-depth research are the keys to successful investment. Investing in cryptocurrencies carries risks and it is recommended that you seek professional investment advice based on your financial situation and risk tolerance before making any investment.

For newbies, step by step guidance is provided. There are risks in the currency circle, so you need to be cautious when entering the market. Follow me to stay together and get rich together in the bull market.