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Where to start buying Bitcoin? Complete tutorial on buying Bitcoin in Iran
Where to start buying Bitcoin? This is a question that many people who are new to the cryptocurrency trading market ask. It may seem difficult and complicated at first, but with a little more research and learning, you can easily start trading.
What is Bitcoin?
Before we start discussing where to buy Bitcoin, it is first necessary to become more familiar with the nature of this currency. Bitcoin is the first digital currency to be introduced to the global market. In fact, it can be considered a type of electronic money that is completely under the control of the people and is not supervised by any institution or organization.
Steps you should take before buying Bitcoin
There are a few essential steps you need to take into consideration before starting to operate in the cryptocurrency market.
– Determining trading strategy
The first step to entering the cryptocurrency trading market is to determine a trading strategy. Strategy refers to the rules and measures that people active in the cryptocurrency market use in sensitive financial situations and, as a result, do not get stressed.
– Choosing a cryptocurrency exchange
You should choose a reliable and secure exchange for your transactions. If you are just starting out in the cryptocurrency market, EFX Pro can be a good choice. EFX (Farhad Exchange) is a very easy, secure, and fast Iranian platform for buying and selling cryptocurrencies. Fax Wallet is also an affiliated wallet with EFX Pro. What currencies does Fax Wallet support? In addition to Bitcoin, almost all cryptocurrencies on the market are supported in Fax Wallet.
– Authentication
To open an account on many cryptocurrency trading platforms, you will need to go through a process called verification. Verification is done to prevent fraud and money laundering. The verification steps are explained on the website of your chosen exchange.
The best way to buy Bitcoin in Iran
Now that we know where to start buying Bitcoin, we need to look at the best way to buy Bitcoin in Iran. With the help of Iranian exchanges, it is possible to buy and sell many digital currencies in Iran, including Bitcoin.
How to buy Bitcoin from the Afex Pro exchange
First, you need to log in to the Afex (Farhad Exchange) website or app. Then, you need to register and go through the authentication process to access Afex Pro services. Once your account is activated, you can now use the home page to buy Bitcoin.
Different ways to buy Bitcoin
You don’t need to buy a whole Bitcoin to trade Bitcoin, but you can buy a fraction of a Bitcoin with the minimum capital required to buy Bitcoin . You can enter the amount you want to invest in buying Bitcoin on the exchange website or app. The app will then automatically tell you how much Bitcoin you will buy with that amount.
Why should we buy Bitcoin from an exchange?
Safe and reliable exchanges are the best platform for trading cryptocurrencies. With their help, you can easily buy and resell Bitcoin or any other currency you want.
How to transfer Bitcoin to a wallet
How to buy Bitcoin and transfer to your wallet : First, copy your wallet address from the app. Then, transfer Bitcoin from the exchange to your wallet using this link. There are various ways to buy and sell digital currency with the lowest fees , which you can use to reduce the fees you pay for transactions or transferring Bitcoin to your wallet.
How to buy Bitcoin from a foreign exchange
Due to the sanctions against Iran, many foreign exchanges are blocking the accounts of their Iranian users. So, first choose a safe and reliable exchange that cooperates with Iranians. Among these exchanges that are official sites for buying Bitcoin, we can mention Tobit, BitUnix, Lbank, Quinx, etc. Now you can use these exchanges for trading, similar to Iranian exchanges.
When is the right time to buy Bitcoin?
It is interesting to know that there are specific hours recommended for buying and selling cryptocurrencies. For example, according to research, it is better to buy Bitcoin in the afternoon, that is, on average between 3 and 4 p.m. The price of currencies decreases during these hours.
What factors affect the price of Bitcoin?
What factors does the price of Bitcoin depend on? These include supply and demand, the cost of mining Bitcoin, transaction fees, competition between Bitcoin and other cryptocurrencies, regulations related to currency sales, media coverage, analysis of the future of Bitcoin, Bitcoin’s market value, and more.
How to predict the price of Bitcoin?
Predicting the price of Bitcoin is possible with the help of technical analysis. You can use historical charts and a set of data related to trading volume, etc. to predict the price of this currency. Learning this technical analysis requires research and training.
Important things you need to know before buying Bitcoin
You can check out some resources on how to buy Bitcoin with your phone before you start. You don’t necessarily need access to a computer to trade cryptocurrencies. Many of these resources include video tutorials on buying and selling Bitcoin.
Final summary
Where to start buying Bitcoin? This was the question that we examined in detail in this article from the collection of articles of Farhad Moghadam Salimi’s Crypto School. By increasing your knowledge about Bitcoin and the cryptocurrency trading market, you can buy and sell with more peace of mind.
Frequently asked questions
1. Where to start buying Bitcoin?
By choosing a cryptocurrency exchange, you can buy and sell Bitcoin.
2. Do we really have to buy a whole Bitcoin?
No, you can buy any amount of Bitcoin you want.
