When is the Best Time to Buy Bitcoin

Bitcoin accounts for about $156.7 billion of the world’s money. You don’t need to be part of an exclusive club to buy it. However, you should consider the best time to buy Bitcoin so that you can get the best deal.

If you know when to buy Bitcoin, you can get it at a better exchange rate than if you bought it at a different time. Like stocks on the stock market, the value of Bitcoin can change throughout the day.

Before you buy, ask yourself: Is this a good time to buy Bitcoin?

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What is the Best Day of the Week to Buy Cryptocurrency?

When is the Best Time to Buy Bitcoin, 15-b53CAlwN0VM7Zw4N6zrM-I4G8oiXuAfCMWTW-zFNfKYgTaChT1wrdFnVC-oKSRiud5RRVXQp0jkBXAkp3Y-zyTjdmq3dL7NywX2HtsIfOomzZmx3vchZpJmKNUWKARXHeNLtN, Bitcoin BlockCard Blog Cryptocurrency , Unbanked, Unbanked Card, Crypto Card, Unbanked Debit Card, Crypto Debit Card, BlockCard

The best day of the week to buy cryptocurrency is Monday when prices are the lowest. Sunday is the next best day of the week overall.

After that, prices rise with Friday being the most expensive day to buy cryptocurrency. 

Related: Bitcoin vs Bitcoin Cash: What’s the Difference?

Best Time to Buy Bitcoin According to Economists

According to some experts, you should consider more than the current value of cryptocurrency. After all, Bitcoin has a value that can fluctuate in relation to the USD and other currencies much more than the relative exchange rate relationships that exist between many fiat currencies, so you can’t think of it like exchanging between two traditional currencies.

  • When demand is high, prices will be, too. Consider when there isn’t as much demand.
  • Business hours tend to be the worst times to buy Bitcoin because more people are trading.
  • Also, consider business hours outside of the United States.
  • Media coverage of cryptocurrency can also have a massive impact on the value of Bitcoin in the near future.

You may never be able to predict the best time to buy Bitcoin. However, if you know what to look for on the market and elsewhere, you can make an educated guess.

Best Time of Day to Buy Bitcoin

Once you have an idea of what Bitcoin is worth, you should consider when to buy Bitcoin. While the value is always changing, the value follows has historically followed certain patterns. 

In general, it’s better to buy Bitcoin in the afternoon since prices tend to drop. On average, the best time to buy Bitcoin is from 3 pm to 4 pm. If you’re a night owl, you can also get a good deal from 11 pm to midnight.

During those times, the value of Bitcoin is the lowest, which means you don’t have to pay as much cash. Whether you want to invest a little or a lot, you can save money when you buy during those periods.

What Day of the Week is Best to Buy Bitcoin?

Since Bitcoin is popular with business professionals, the market is most active during the workweek. If you’re looking to save some money on your next Bitcoin purchase, consider buying on a Sunday.

You can also buy on Monday before the market starts to get busy.

Of course, the market for Bitcoin is always open, and there will always be some trading. However, you want to get in when the prices are low.

Prices tend to be lower when the market is less active. Not only does that make weekends the best days, but that probably contributes to why you should buy later in the day or at night.

The Best Month Appears to be August

If you’re looking for the right time of year to buy Bitcoin, wait until August. Bitcoin has a long history, and market trends show that August tends to have the best prices for buying cryptocurrency.

Should One Buy Low and Sell High?

When is the Best Time to Buy Bitcoin, ROCbTT5-_3Oqa2R0Ximpw_S674Yr23bLDR22FXdHpICVwCkOhDMIo_tNpBDJmnmFLYZKsVt3l3Pj6EOvGriCK9sMuRklrAzUguuGxaq8mhBtkpK6Fr86VmdQqlssBVgZMQDia6nm, Bitcoin BlockCard Blog Cryptocurrency , Unbanked, Unbanked Card, Crypto Card, Unbanked Debit Card, Crypto Debit Card, BlockCard

Buying low and selling high can be a great strategy for making money with Bitcoin. If you want to treat it as a utility, this will give you the best chance of earning a profit.

However, if you want to hang on to Bitcoin longer term, then you should keep it. Even if the market skyrockets, you might want to keep your Bitcoin.

Of course, you can sell some to make a profit. Overall, you need to consider your goals and whether you want to sell your Bitcoin or use it to buy something at a retailer that accepts Bitcoin.

Related: How to Pay with Bitcoin

Should I Buy and Hold onto Bitcoin?

You can buy and hold onto Bitcoin, especially if you want to make a bigger profit long-term. As more and more people buy and use Bitcoin, you have a chance of gaining more value and purchasing power from the BitCoin you buy today. 

Keeping your Bitcoin can also be smart if you buy it when the price is somewhat high. Not only will that keep you from losing money, but you could still make a profit in the long term. 

Of course, the value of Bitcoin will continue to change. If you follow the market, you can watch your purchasing power grow rather than diminish due to inflation. 

Theory #1

One reason why Monday and Sunday tend to be the best days to buy Bitcoin is the weekend. Since many business people trade Bitcoin, the market isn’t as active over the weekend.

Getting in before the market starts back up means you have a better chance of landing a good price. If you wait until the middle of the week, odds are the market will be more active and prices will be higher.

Theory #2

The weekend also acts as a time for people to consider and decide on buying in. As people start to buy Bitcoin on Monday, the price and demand increase.

Once the week finishes, the demand drops off. The cycle then continues each week.

If you want to buy Bitcoin, try to beat the rush so that you don’t have to pay more for the same amount of Bitcoin.

Theory #3

If you want to avoid high prices, avoid common paydays. After all, when you have more money in your account, you might be tempted to spend it.

Since many people get their paychecks in the middle and at the end of the month, Bitcoin prices can rise quickly. If you can, wait a week after payday before you invest so that you can get a better deal.

Alternative Ways to Buy Bitcoin

While most investors buy Bitcoin through their preferred cryptocurrency exchange, there are alternative ways to buy Bitcoin. These alternatives can be handy because they are applications or services you may already have:

Digital Payment Platforms

Several popular digital payment platforms allow their users to buy Bitcoin through their service. The advantage of using a payment platform is that you already have an account and don’t need to fuss with a crypto exchange. But these platforms can limit what they allow you to do with your Bitcoin once bought on their platform.

You’ll want to research your digital payment platform’s rules and regulations for purchasing cryptocurrency. While this might be an easy way to invest in Bitcoin, be careful because it may have limitations or restrictions for transferring your tokens to another platform.

Venmo

Venmo allows you to buy cryptocurrency on their platform, and you can invest as little as one dollar. They charge an exchange rate that will include a spread of 0.005% or one-half of one percent, and they’ll charge a few other fees. 

Because Venmo links to your bank account, your bank may also charge a processing fee if you need to access your bank account to make the crypto purchase. You can find answers to other crypto purchasing questions on their frequently asked questions page.

Looking for alternative investment opportunities? Find out how cryptocurrency may be a wise investment for the future.

Related Link: 10 Reasons to Consider Going Unbanked

PayPal

Like Venmo, PayPal allows you to buy and sell Bitcoin through their app. PayPal essentially acts as an exchange and wallet for your Bitcoin and other cryptocurrencies. PayPal charges a fee of 1.5% – 2.3% of your purchase or sale amount. The app makes buying crypto very convenient and easy. 

But be cautious with buying crypto on PayPal because you can only buy and sell the tokens. You can’t pay for goods and services with Bitcoin in your account. And you can’t transfer any cryptocurrencies from your account to another digital wallet. Check out the Paypal Frequently Asked Questions for more answers to their crypto rules. 

Cash App

Cash App is arguably the better option for buying and selling Bitcoin and other cryptocurrencies of the digital payment platforms. Cash App allows you to buy and sell Bitcoin directly, send and receive Bitcoin from any $Cashtag for free, and you can withdraw Bitcoin from your Cash app and transfer it to another wallet.

Cash App does charge a fee when you buy and sell Bitcoin, and they will send you a Form 1099-B for determining any taxes on your cryptocurrency sales. Like the other digital payment platforms, they also have a high standard of security.

Mobile Stock Trading Platforms

It seems that more and more traditional stock trading platforms are getting into the cryptocurrency game, especially when it comes to Bitcoin. Bitcoin’s high volatility is especially attractive to trading apps that want a piece of the pie. Here are some of the more popular mobile stock trading platforms that also offer cryptocurrency:

Robinhood

Like its stock trading, Robinhood charges no fees for trading crypto. This is a considerable advantage over some of the more trusted cryptocurrency exchanges that make their money in transaction fees. 

If you are looking to invest in Bitcoin, Robinhood may be a solid choice. They have some specific rules about trading that you may want to research. And if you want to invest in other cryptos, Robinhood may not be your best option because of their limited list of available cryptos to buy and sell. 

Webull

Webull is another brokerage that allows you to buy and sell stocks, ETFs, options, and crypto. However, their cryptocurrency offering is limited to seven of the most popular cryptos, including Bitcoin. Webull doesn’t charge trading fees. 

Like Robinhood, Webull allows you to buy fractions of crypto tokens, allowing you to invest as little as one dollar in Bitcoin. While this is great, Webull is not a wallet, and you can’t transfer your tokens to another platform.

Bitcoin ETF

ETFs are investment vehicles that allow investors to benefit from cryptocurrencies like Bitcoin without dealing with the cryptocurrency exchanges and security procedures. Investors no longer need to buy Bitcoin directly to enjoy the benefits of owning Bitcoin.

But because the crypto markets are mainly unregulated and unstable, it has been challenging to get SEC approval. The ProShares Bitcoin Strategy EFT is the first bitcoin-related ETF that trades under the ticker BITO.

A Bitcoin ETF creates a familiar environment for trading crypto. Investors can buy Bitcoin ETFs through their traditional exchanges and markets, and they can short sell the ETF if the investor thinks Bitcoin’s price will drop significantly in the future.

Want sound financial advice and tips? Learn how Unbanked can help you diversify and grow your investments.

Related Link: Cryptocurrencies as a Solution for the Unbanked

Does Bitcoin Make Sense for You to Invest In?

With most investments, there is a large measure of risk and research needed to feel confident in the investment strategy. Because the crypto market is so volatile, a riskier investment like Bitcoin can pay off big. 

If you want to get into cryptocurrency trading, Bitcoin is a good starting place because it has the longest history, good trading volume, and profitable volatility. And investing in Bitcoin can diversify your investment portfolio, although most experts recommend that cryptocurrency be less than 5% of your total portfolio.

Want to learn how cryptocurrency can open more banking opportunities? Read the latest on cryptocurrency banking strategies and trends.

Related Link: 5 Common Benefits that Blockchain Has on Financial Services

Buy Like a Pro

There may never be the perfect time to buy Bitcoin, but that doesn’t mean you shouldn’t try. The best time to buy Bitcoin is later in the day, either around 3 pm or just before midnight.

While the market can and does change, these trends are there for you to use. You don’t have to be an expert in cryptocurrency to follow the market and determine the best time to buy. Buying Bitcoin for the uninitiated can be daunting. For those looking for an easy way to buy and use cryptocurrency, there is BlockCard. With BlockCard you receive a physical and virtual debit card that allows you to buy from 12 cryptocurrencies and spend within minutes anywhere. VISA, Apple Pay, Samsung Pay, or Google Pay are accepted. Register today and be your own bank. 

Check our blog regularly so you can keep up to date on the latest cryptocurrency news and information. 

Related: How to Buy Bitcoin Cash

Want expert insights on investing in blockchain technologies? Check out our latest headlines on the future of cryptocurrency investments.

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BlockCard seeks to provide readers with objective advice regarding all aspects of cryptocurrency. We source data points, trends and statistics from a variety of sources including but not limited to online publications such as Forbes, Bitpay, Crypto.com, and CoinDesk and have to make informed interpretations. Ultimately it is up to users to understand the risks or potential gains that come with any cryptocurrency transaction whether it be buying, selling, or paying with cryptocurrency. This piece does not contain all information necessary and should be considered for informational purposes only.

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