How to buy cryptocurrencies? Know your crypto
Do you want to start your investment in the crypto world? In this article, we suggest how to buy first cryptocurrencies and which exchanges are worth paying attention to. It is easier than it may seem!
Let’s get started!
To start investing, you don’t have to buy the whole Bitcoin right away. It can be divided into different parts. There are also many other cryptocurrencies to choose from.
You can trade cryptocurrencies on the trading platfom or at the exchange and make money to sell and buy at the right time. Registration (and often verification) is required on the trading platforms, while at the exchange you can do it without registration. This is a much simpler option. You can also buy Bitcoin in the so-called Bitcoin ATMs without giving your details. This is an ATM where you can buy Bitcoin for cash. Sometimes you can also sell it this way. There are also stationary cryptocurrencies exchange points.
Buying a cryptocurrency on the trading platform
There are many online platforms where you can trade cryptocurrencies. Trading through them is usually the cheapest option. They require verification to prevent fraud. However, you should keep an eye out and use only verified exchanges.
How to start trading on the trading platform
To start your adventure with cryptocurrencies, you usually just need to take a few simple steps.
Create an account
(usually you will need an email, phone number, password and login to do this)
Registration on the crypto exchange does not differ much from setting up an account on the websites we use on a daily basis. In order to do so, you must enter your e-mail and activate your account with its help. Later on, you must establish a strong password. It is worth using a password generator to make it safe.
In order to log in, the exchanges usually use a two-stage verification. This means that when logging in you will need not only a login and a password, but also use e-mail or SMS confirmation code.
(in many cases it is not required, but it is the only way to access all the options of the exchange)
Verification is necessary if the user wants to exchange the Fiat currency into cryptocurrencies. This is mandatory due to anti-money laundering regulations. A photograph with an identity card and a photograph of the bill in which is confirmed a place of residence is used to this.
Funding the account and purchasing a selected currency
After successful verification, it is possible to fund the account with the currency we use. When the money is transferred to the account, it will be possible to buy crypto. For this purpose you will have to choose the currency you want to sell and the cryptocurrency you want to buy. The value of a given cryptocurrency will be calculated according to its current market price.
Recommended cryptocurrency exchanges:
Here are safe crypto exchanges where you can easily set up an account and start trading: