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How to buy Bitcoin SV online
This guide explains all of the key things you need to understand before you invest in Bitcoin SV. Read on to discover what it is, how it works, and what its future investment prospects are. If you want to invest right now, check out the section directly below for our list of the best places to buy Bitcoin SV.
Compare where to buy Bitcoin SV, and open an account
Below, we have listed the best places to buy Bitcoin SV online. All of these platforms have favourable fee structures and great reputations, and you can sign up by simply clicking one of the links. Otherwise, to continue learning about Bitcoin SV and what it has to offer, scroll down and read on.
How to buy Bitcoin SV online – a step-by-step guide
Step 1. Find an exchange
The easiest and fastest way to acquire Bitcoin SV is signing up to a cryptocurrency exchange and purchasing tokens. Bitcoin SV is easy to source these days because it’s supported by a wide range of exchanges. Below, we have listed a few of our favourites along with a brief explanation of what they have to offer
- KuCoin: KuCoin might not be the most well known exchange around, but its blend of an easy-to-use interface and helpful tutorials makes it a good option for beginners and experts alike. Sign up to KuCoin now >
- Binance: If you know anything about cryptocurrency, it is likely to will have heard of Binance. It is the largest crypto exchange around and offers a wide variety of digital assets. Join Binance today >
Step 2. Sign up and fund your account
Now you have chosen an exchange, it is time to sign up. Simply fill out the required contact details and provide a copy of your photo ID if it is requested. Then, it is time to add funds to your account. Most exchanges accept fiat money, so you can commonly use a bank transfer.
However, if your exchange of choice only supports cryptocurrency funds, the easiest way to work around this is to buy some Bitcoin from a major trading platform like Coinbase and add them to your wallet.
Step 3. Purchase
To purchase BSV, search for it in the interface of your chosen exchange and find the relevant pair. For instance, if your account is funded with USD, look for the BSV/USD pair, whereas if your account is filled with Bitcoin, look for the BSV/BTC pair. Finally, enter the quantity of BSV tokens you want to acquire, and check you are happy with the price and associated fees before executing your transaction.
Step 4. (Optional) Get a suitable wallet
Storing your Bitcoin SV in a wallet can help enhance the security of your funds. As you would expect with a coin so closely related to Bitcoin, there are plenty of reputable and trustworthy wallets to choose from. To save you some time and narrow down your search, we’ve picked out a few wallets we like for your BSV:
- Ledger Nano S: This is one of the leading physical crypto wallets on the market right now, and it looks something like a USB stick. Your funds will be secured completely offline, protecting them from any form of online attacks. Get a Ledger Nano S today >
- CoolWallet: If you want to security that comes with physical storage but need the convenience of digital access, CoolWallet’s wallet and connected app could be perfect for you. Join CoolWallet today >
How to trade Bitcoin SV – a step-by-step guide
Step 1. Find a CFD broker
Trading requires you to open and close positions quickly to take advantage of price fluctuations. The easiest and most popular service to do this with is an online broker. When trading cryptos with a broker, you will be using contracts for difference (CFDs), which means you are speculating on a contract that represents Bitcoin SV tokens rather than Bitcoin SV tokens outright.
Here are two of the best options that offer low trading fees and plenty of helpful tools to aid technical analysis:
- eToro: This is one of the world’s leading names in the online broker sector, and with a clean interface and many different features, its popularity is no surprise. Sign up to eToro now >
- Capital.com: Capital.com is a great platform for newbies and crypto veterans. It uses AI tech to help you enhance your trading strategies. Sign up to Capital.com now >
Step 2. Create an account and deposit money
Now, you need to create your account and validate it. Do this by filling out the contact details that are required, and provide a copy of your photo ID if one is needed. Most brokers offer a wide variety of payments methods including bank transfers and PayPal, though this will vary from platform to platform.
Step 3. Learn how to perform technical analysis
Technical analysis is the cornerstone of any good trading strategy. Our short-term trading course will help you gain a firm understanding of the basics so you can indentify the technical indicators you need to read the market effectively.
Step 4. Decide whether to go long or short
When trading Bitcoin SV CFDs, you can go long in the belief the cryptocurrency will rise in value, or short in the belief it will fall in value. Both of these methods can be profitable in the right market conditions, so be sure to stay up-to-date regarding the latest developments and news that may affect the market.
Step 5. Start trading
Now your account is set up and ready to go, simply search for BSV in the interface of your chosen broker, choose the number of tokens you want to buy or sell, set your desired price and execute the trade.
If you are inexperienced with crypto trading, we highly recommend starting off with a demo account. This will allow you to experiment with your strategies and get to grips with the ins and outs of trading before risking your capital.
Should I invest in Bitcoin SV?
Before you decide to invest any of your money into a cryptocurrency like Bitcoin SV, make sure you analyse the health of the overall crypto market. If a bullish trend has been established, altcoins like BSV often perform well. However, if a bearish shift has ocurred, BSV will likely suffer.
At the crux of this question is whether or not you prefer Bitcoin SV to Bitcoin: the world’s largest cryptocurrency. The key thing that sets BSV apart from BTC is its increased block size, which is allegedly 128 times greater than BTC’s 1MB. This enhances BSV’s scalability, and its status as a fork of Bitcoin helps give it a clear, trustworthy brand.
When investing in Bitcoin SV, make sure you do so intellegiently. Perhaps the best method is to dollar-cost average your way into a position, which involves starting with a small amount of money and increasing your position with equal sums of money at set intervals. This helps proect your investment from unexpected volatility.
- As a fork of Bitcoin (via Bitcoin Cash) BSV is well understood by investors
- BSV is especially volatile, and therefore interesting to traders. Especially while the team behind it continue to court controversy
- The increased blocksize of BSV means it’s much more scalable than Bitcoin
Before we conclude this guide, here are three key questions to help you decide whether to invest in Bitcoin SV.
1. Is now a good time to buy Bitcoin SV?
That depends on who you are as an investor: are you someone who wants to hold BSV for the long term to speculate on its future growth, or are you a short-term trader who wants to flip BSV for accelerated returns? If you are the former, BSV’s enhanced block size could help it grow in price as the cryptocurrency sector is gradually integrated into the mainstream.
For short-term traders, the fundamentals have less of an impact oin your thinking. Instead, your focus will be on technical analysis so you can purchase BSV low, and sell it high. Pay close attention to the latest candlestick charts and news; these two things will help indicate if now is a good time to invest your capital in Bitcoin SV.
Regardless of how to choose to seek exposure to the performance of Bitcoin SV, it is important that you check out the latest analysis so you understand its recent price performance. Check out the pieces below for more insight:
Why I Wouldn’t Invest in Bitcoin SV Right Now
2. What problem does Bitcoin SV solve, and what are its investment prospects?
It has an increased block size when compared to regular Bitcoin, making it more scalabale and better suited to everyday transactions. Bitcoin lacks the scalabilty to deliver transactions at the rate demanded by a global economy, and while there are plenty of more scalable projects that Bitcoin SV, this fork delivers superior results to its predecessor. In fact, the developers feel BSV offers the one scalable data ledger required to fulfill Satoshi’s vision of “only one global chain.”
However, besides the enhanced block size, Bitcoin SV has little else to offer in the way of innovation. As a result, it has been unable to capture the same kind of community as Bitcoin has. Whether this can change in the future remains a subject of doubt.
Check out the latest news concerning Bitcoin SV below to help bolster your knowledge and inform your investing decisions:
Bitcoin SV Suffers a 51% Attack; Hackers reorganise up to 14 blocks
Bitcoin SV (BSV) deposits blocked on crypto exchanges following the recent attack
OKCoin plans to suspend Bitcoin Cash (BCH) and Bitcoin SV (BSV) trades
3. Do you want to hold Bitcoin SV for the long term?
When you decide to hold Bitcoin SV for the long term or trade it in the short term, it is crucial you make certain considerations. We have outlined the main ones below.
Considerations for a long term investment strategy
If you want to hold tokens for the long term, find a reliable exchange and consider opening a crypto wallet so you can store your BSV securely. These two things can help kickstart your investment journey along the right path.
Considerations for a short term trading strategy
For short-term traders, find a CFD broker with low fees; after all, you don’t want frequent trading fees to hamper your profits. Then, focus on technical analysis and try to develop a solid, reliable strategy that consistently produces good results.
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