Bitcoin, the original "digital gold," was the first cryptocurrency ever created. Today, it remains the most valuable and widely adopted crypto asset. Understanding how to buy, use, hold, and secure your BTC is essential for anyone entering the digital currency space.
What Is Bitcoin (BTC)?
Bitcoin (BTC) is the first currency to exist solely in electronic form. It was published as open-source software, meaning anyone can review its code and participate in the Bitcoin network.
Introduced in 2009 by the pseudonymous Satoshi Nakamoto in the famous whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System," Bitcoin's goal was clear from its opening sentence: "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."
By eliminating trusted third parties, Bitcoin gives individuals complete control over their money.
Is Bitcoin (BTC) a Good Investment?
Bitcoin represents more than just digital cash—it's a digital revolution and a new system built on freedom.
True Financial Control
With Bitcoin, you truly own your funds. The decentralized Bitcoin network means you don't need to rely on intermediaries. No bank or institution controls your money, giving you absolute freedom to manage your assets.
Borderless Transactions
The Bitcoin network operates without borders. Whether you're in the United States, Japan, or anywhere else, you can access your cryptocurrencies. Digital assets help connect the world, enabling rapid transactions with anyone, in any country.
Open and Inclusive
Created by individuals rather than governments, the Bitcoin blockchain is maintained by a growing community that adds stability and power to the network. Its public nature ensures transparency—all transactions are visible. Most importantly, anyone can participate.
Fast Processing Times
A Bitcoin transaction typically takes about 10 minutes. Other crypto assets can process transactions in seconds. In contrast, traditional wire transfers can take around 24 hours for domestic transactions and one to four days for international transfers.
Low Transaction Fees
Traditional financial systems often charge fees for domestic wire transfers, which increase with transaction volume. International transfers incur even higher costs. Bitcoin transaction fees are generally lower than those of traditional bank wires, and the size of your transaction has little impact on the fee.
How to Use Bitcoin (BTC)
Long-Term Holding (HODLing)
Long-term investing involves holding a cryptocurrency with the expectation that it will perform well over an extended period. This strategy requires keeping your crypto assets for the long haul, anticipating steady and gradual growth.
Before adopting this approach, it's crucial to research thoroughly and believe in the cryptocurrency you're investing in. Many people prefer to buy assets and store them away, hoping their value will rise in the future.
Short-Term Trading
Short-term trading focuses on making quick gains over brief periods—whether seconds, minutes, days, or slightly longer. While established cryptocurrencies like Bitcoin or Ethereum can be traded short-term, newer cryptocurrencies with rapid growth potential may also be appealing.
As financial assets, cryptocurrencies can be part of a broader investment strategy. They can be bought, traded, or held with the goal of generating profit. This investment potential attracted many during Bitcoin's 2017 boom.
Buying Bitcoin via Ledger Live
You can buy bitcoin directly through the Ledger Live app using third-party providers. When you use the "Buy" function in Ledger Live, these providers automatically send the purchased crypto to an address created by your Ledger wallet.
This allows you to securely hold and control your assets immediately after completing your purchase.
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How to Buy Bitcoin Safely
Two critical factors when buying bitcoin are security and ownership of your crypto assets. When purchasing bitcoin online through an exchange, you don't hold the private key—the exchange does. This means:
- You lack control because you aren't the true owner of your crypto.
- You risk being hacked since your security depends on the exchange, a prime target for cybercriminals.
Ledger offers a solution that lets you secure and own your private key. Ledger hardware wallets, combined with the Ledger Live app, provide the best way to secure and manage your digital assets.
Your private key is kept offline in your hardware wallet. Only you can access or use it. You'll need your key to access Ledger Live. With Ledger, you can buy, sell, and grow your cryptocurrencies in one secure place.
Buying Bitcoin (BTC) and Other Cryptos via Ledger Live
Securely purchase and manage your bitcoin (BTC) and other cryptocurrencies through Ledger Live.
Frequently Asked Questions
Can I buy bitcoin with PayPal?
Yes, Ledger Live users in the United States can purchase cryptocurrencies including BTC, ETH, LTC, and BCH using PayPal. If you have an eligible PayPal account, the process is quick. Otherwise, you'll need to complete identity verification.
How do I keep my bitcoin secure?
The security of your bitcoin depends entirely on the wallet storing it. Ledger hardware wallets and the Ledger Live app are designed to let you buy and secure cryptocurrencies easily. Your private key remains offline, ensuring maximum safety.
What is the easiest way to buy bitcoin?
You can buy bitcoin through the Ledger Live app via various providers. Once your payment is processed, your bitcoin is sent directly to your Ledger hardware wallet for secure storage. 👉 Get advanced security tips
Do I have to buy a whole bitcoin?
No, you can always buy less than one bitcoin. Bitcoin is divisible, meaning you can purchase fractions of a coin based on your budget and investment goals.