Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Learn about Bitcoin
A quick and safe way to start building savings in cryptocurrency.
Cryptocurrency is a unique type of asset that can give you full control of your wealth. That means you will always be able to access your money at any time, no matter who tries to prevent you, but the responsibility to protect it is on you, the owner.
Bitcoin is incredibly secure. The network is made up of thousands of computers all working independently to verify transactions are valid and signed by the owner. One of the biggest risks when investing in bitcoin is therefore losing the keys that sign transactions. If those keys are kept online, they are easier to steal, so we created a way to generate and store keys offline.
Trezor Starter pack with €25 Voucher
To start using bitcoin safely, your keys should be created and kept offline, forever. That’s easy to do using a special-purpose device called a hardware wallet. Trezor is the first device that keeps your keys off the internet and safely in the palm of your hand. Choosing to start with a hardware wallet keeps your investment safe and easy to manage from day one.
Why invest in Bitcoin
Saving money has become much harder in recent years. Interest rates have fluctuated and inflation has shot up. There are few options to preserve the value of your money, let alone increase it. Bitcoin was created to solve the problem of currencies becoming increasingly worthless over time, and that’s what has made it so popular as an alternative investment vehicle.
While the massive growth seen in the past is not likely to be repeated, the value of bitcoin is expected to increase with adoption, making it very attractive for long-term savings. Only a small fraction of people already invest in bitcoin regularly, so there is plenty of room to grow.
It’s no secret that global currencies are currently very unstable. If the inflation rate of the US dollar remains at its current 7% for just 10 years, your cash savings would halve in value. That’s why it’s essential to find an asset which will appreciate long-term.
Gold used to be the most popular asset for storing wealth, but it’s very hard to take responsibility for. Where do you keep it? How do you guard it? How do you buy things with it? Unfortunately owning any significant wealth in gold means relying on other people to manage it for you.
Why hardware wallets are best for crypto
Bitcoin lets you store, manage and protect any fortune using a discreet device that fits in your pocket. If you lose it, you have a backup that can be used with any other wallet in times of emergency. Bitcoin is the only asset you have complete control over without needing to follow a list of chores to keep it safe.
Getting started the right way
Bitcoin lets you start using it right away for free, but you will have to exchange some other currency to acquire it in the first place. You’ll then need to put it somewhere that only you can access. That’s where keys come in — you will need to withdraw from the exchange to an address belonging to your keys. But why go through that hassle when you can do it all in one place?
Before you start signing up for exchanges and downloading random wallet apps, you’ll need to do a bit of research to avoid fakes. Or you can get a Trezor and have everything in one complete package that you can hold in your hand. That way, you’ll know exactly how to keep your investment safe and have full control of your cryptocurrency from the moment you buy it.
A Trezor Starter Pack will let you start your crypto journey safely and continue with confidence. It includes a Trezor Model One hardware wallet and a guide that teaches you all the essentials as you set up your wallet, so you’ll be ready to invest in minutes. It also comes with an easy to redeem crypto voucher to give make your first purchase even more memorable!
Choose a starter pack with a voucher for €25 or €50 worth of crypto.
Every Trezor hardware wallet is part of a complete secure ecosystem powered by Trezor Suite, a professional desktop interface that makes it easy to grow and manage your investment safely and privately, with easy access to help when you need it.
Buying, selling and exchanging crypto is simple and secure in Trezor Suite. You just choose the best offer from one of Invity’s trusted providers, choose how to pay, and the crypto you buy will be sent directly to your wallet. With the list of partners growing and more savings options coming, you can invest comfortably at your own pace without depending on third party custody.
What you should know before investing in crypto
Deciding to start saving in bitcoin means weighing up both bitcoin’s merits and the failures of traditional currency. As mentioned above, inflation has begun to raise prices in terms of fiat (traditional) money, while wages stagnate. Saving is made impossible — banks’ interest rates lag behind inflation, so your money becomes worth less over time.
Making the choice to save in bitcoin is often called hedging against inflation: it is an investment that covers potential losses, should your cash crash in value. But it is also an asset that has appreciated at incredible rates and is likely far from done. Traditional financial analysts have slowly come around to bitcoin as an asset class, and it’s not uncommon to hear banking executives predict that its value will increase many times over — even if inflation rates were to settle to less alarming figures.
Crypto is a very novel type of asset, not just because it is digital, but because it can be safely owned by any individual without anyone else being involved. No lawyers, banks, or governments are needed to start using cryptocurrency. That makes it incredibly liberating and increases its utility above any other asset that exists today. With that freedom, comes responsibility to protect your assets, so the Trezor Starter Pack makes it quick and easy to start safely.
Bitcoin Bear Markets: What, Why, When?
Short-term volatility can be particularly concerning for a new investor, but long-term trends are more encouraging. Bitcoin is still at an early stage of adoption and therefore accumulating it earlier is likely to be more favorable once it becomes more common.
How to buy Bitcoin
It’s hard to pick the perfect time to start investing. Bitcoin is volatile, so it is difficult to plan a winning short-term move. But just getting started now will help you understand the markets and adjust your investment strategy to one that suits you. Some common ways to save in bitcoin are dollar-cost-averaging (DCA), entering with a lump sum, or ‘buying the dip’.
Dollar-cost-averaging (DCA)
This popular approach to ‘stacking sats’ focuses on spending the same amount with every purchase. Rather than buying all you can afford straight away, buy small fractions of bitcoin regularly at whatever cost suits you best. By spacing out the purchases, the amount of bitcoin you have will consistently be increasing without the stress of trying to predict short-term price movements.
There are many platforms that let you automatically buy a fixed amount at the time interval of your choosing, but if you DCA, always read up on any fees that might apply to each purchase.
Lump-sum purchase
Buying all your bitcoin as a lump sum is often considered risky but can be more suitable for some people. Luck plays a large factor, as timing the markets is all but impossible. Catching a bounce may turn out profitable in the short-term, but a crash could cause panic. Buying bitcoin at once may give newcomers a sense of closure and, if it is part of a long-term purchase, the risk of bad timing might turn out negligible.
In Trezor Suite, you can buy any amount of bitcoin instantly and choose the best offer from a range of providers. It’s all managed by Trezor’s sister company Invity, which lets you buy securely from verified exchanges. Once complete, the crypto you buy is sent straight to your wallet.
Buying the Dip (BTFD)
Buying the dip is a wide-spread meme strategy that appears in the gaps between those two approaches above. When the market crashes, many bitcoiners rejoice at the thought of buying more at cheaper prices. That’s buying the dip. Dips are often underestimated and therefore some people will buy lower several times until a new price floor is found, a process vividly described as ‘catching a falling knife’.
Whether it’s part of their usual DCA or another lump sum is down to personal preference, the culture of dip-buying highlights that bitcoin is thought of as safer for long-term savings than short-term profits.
Read more about how to get started with bitcoin and share this guide with others:
Beginner's Guide to Crypto by Invity | Invity.io
How do I know my savings are safe?
Money has always been difficult and expensive to secure. Cash and gold are protected by physical barriers and deadly force. But Bitcoin needs none of that. It relies on mathematical proof to eliminate any chance of your keys being duplicated, and by isolating those keys physically your entire fortune can be hidden away from view.
Once your bitcoin is protected by your Trezor, there are only two ways that your money could be lost: someone learns your PIN and uses your device, or your recovery seed is found by someone. Recovery seeds are a physical backup of all your accounts, and must to be stored where no-one else can access them, and never put on a network. As long as you follow good security practices your coins will be safe for the long term.
Your Trezor doesn’t share your keys with anyone, ever. Since it’s open source you don’t even need to trust us on that — security experts regularly review our code and you can too!
How to start investing in Bitcoin was originally published in Trezor Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.