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How to buy cryptocurrency and store it safely?
Cryptocurrency is a new class of digital assets popularized by Bitcoin (BTC). While cryptocurrencies or digital/virtual currencies work much like their traditional fiat counterparts, the biggest difference between the two is the lack of centralized infrastructure and banks.Where fiat currencies are issued by and kept in banks, digital currencies are issued via distributed mechanisms that follow strict consensus protocols. This translates into cryptocurrencies being stored on blockchains which are largely immutable, much more transparent and globally accessible.Given their utility and growing list of use cases, cryptocurrencies are gaining popularity and one way to buy cryptocurrency is to use a reliable crypto exchange like OKX. On OKX, users can sign up, verify their identities and start buying Bitcoin and other cryptocurrencies instantly using credit cards, debit cards, bank transfers and other supported payment methods.Typically, when you buy cryptocurrency, you have to store it in a dedicated wallet, but the security of your digital assets depends on how safely your private key is kept. Every cryptocurrency wallet has a private key which allows complete access to the stored digital assets. If you lose your private key, you effectively lose your funds.Using an exchange like OKX also facilitates users because their newly purchased or traded digital assets are kept securely on the platform and are credited into users' accounts, available to be sold or transferred as required.Ultimately, users should always buy cryptocurrency from a reliable exchange, and if they withdraw their digital assets to a personal wallet, they should keep their private keys safe and backed up to ensure the security of their funds.
Why buy Bitcoin with OKX?
Is it legal to buy Bitcoin?
The regulations around Bitcoin are still uncertain or absent in many countries. Legality may vary from country to country, or even from state to state. However, most major countries — such as Japan, Russia, the United States and many of those in the European Union — allow Bitcoin trading. However, before you buy Bitcoin on any exchange, you should thoroughly research the legality of the exchange and that of BTC according to your local laws.
Can I buy Bitcoin with a credit card?
On OKEx, you can buy Bitcoin using a credit card with the same ease as online shopping. OKEx's payment partners give you a wide range of other fiat payment options for buying BTC — including Apple Pay and bank transfers.
Is Bitcoin safe?
Bitcoin is a peer-to-peer currency that is virtually impossible to hack. To ensure the safety of your BTC investments, always choose your exchange or wallet carefully. OKEx offers industry-leading security, with offline and online asset storage and multisignature protection to keep your Bitcoin safe.
What can I do with Bitcoin?
Once you've bought BTC, you can either use it to buy other cryptocurrencies on an exchange like OKEx or you can pay using BTC at stores that have started accepting Bitcoin payments. Many BTC owners also prefer to hold their coins for the long term, as it has proven to be one of the most profitable investments over the last 10 years.
What is the price of BTC?
The price of Bitcoin fluctuates depending on a variety of factors. In March 2010, almost a year after its launch, Bitcoin's price was estimated to be $0.003. In 2017, the price of BTC reached approximately $20,000. Throughout 2020, BTC maintained its price between $7,000 and $12,000, but then reaching over $60,000 per coin in 2021. There’s no fixed price to buy BTC, as it depends on the market conditions at the time you consider buying it. You can always check the latest BTC price on OKEx.
Want to learn more before you buy Bitcoin?
Get detailed information about cryptocurrencies listed on OKX, including their tech, founders and price history.