Guides For Buying Cryptocurrency Online
What Is Cryptocurrency & How Does It Work?
Cryptocurrencies are cryptographically secured digital representations of value that can be stored, transferred, or traded electronically through a digital ledger known as the blockchain. There are also stablecoins that attempt to mirror FIAT currencies.
Cryptocurrency Risks & Scams
Beware of cryptocurrency scams as there are a few on the internet, always do your research and never trust one source of information. The guides on this website are here to help people learn about cryptocurrency.
Disclaimer: The information showcased here is for general informational purposes only and is not intended to provide specific advice or recommendations for any specific investment. Conduct your own research and consult your financial advisor before making any investment decisions and only put money on the line that you are willing to lose.
Want To Know How To Buy Cryptocurrency?
Read Our Step by Step Guide Below
Step 1. Research Cryptocurrency
There are more than 9000 cryptocurrencies out there that can be bought, sold, or traded through a cryptocurrency exchange. What you essentially need to do before you even start investing is to conduct your due diligence and discover what each and every cryptocurrency of interest does, and what kind of project, team, and solution it backs up.
Specific Use-Case
Keep in mind that there are many currencies out there that serve different purposes, so knowing what to look for, and what to invest in is essential if you want to see a good return of investment.
Support What You Love
Ideally, you should only invest in a project that you genuinely like, have a good feeling about, and will not regret.
Step 2. Sign Up to An Exchange
Once you have selected the currency or currencies that you want to invest in, you’ll need to sign up to a cryptocurrency exchange.
Stay Connected
All you need to do in order to participate in these types of trades is to create an account and connect a crypto wallet. The best exchanges you can start your journey on include Coinbase, Kraken, and Binance, all of which have their own specific benefits and drawbacks, such as functions, fees, and community size.
Easy Point of Entry
These exchanges are essentially businesses that allow you to trade cryptocurrencies for other assets, such as FIAT money, or other cryptocurrencies.
Step 3. Buy Cryptocurrency
Once all of that is said and done, or in other words, you’re set on a project and currency, and you have created an account and have connected a crypto wallet, the next step is to actually purchase the currency in question.
FIAT Currency Support
Keep in mind that many exchanges allow you to make your purchase with FIAT currencies, as well as cryptocurrencies. Once this is completed, you can hold onto the currency expecting it to grow in the future, or trade it for another currency if you feel the need to do so.
Expect the Unexpected
Remember that, while many of these exchanges will offer you analytical tools so that you can make educated investment decisions, cryptocurrencies as a whole are quite volatile, and you should never put more money on the line than you are willing to lose.