How to buy cryptocurrency: instructions

How to buy cryptocurrency: instructions

Everyone has heard about cryptocurrency today. But hearing does not mean actively using. We will tell you where to buy cryptocurrency, what is needed for this and what parameters should be taken into account in general.

Buying coins in stages

Buying and selling bitcoin and other currencies is carried out through specialized exchanges. Today there are no problems with this - there are many sites, different conditions are available, so choose.

To complete the transaction, you will need to register and verify. These procedures are mandatory at all sites, are carried out according to the standard scheme - you enter a phone number, email, password. It is recommended to pass verification immediately. When you pass the necessary checks on the exchange, you can start buying cryptocurrencies. The scheme is simple:

  1. Following the prompts (the interface is usually clear and simple, so there will be no problems) choose a cryptocurrency.
  2. Specify the desired pair.
  3. Deposit funds to an exchange wallet (usually different payment options are available).
  4. Complete your purchase.

The most profitable option is the use of exchange terminals, but you can stop at any other. When using the trading terminal, indicate the pair you are interested in, then place an order or place an order through the market. To open an order, specify the rate at which you plan to make a purchase and the number of coins. As the order is executed, the currency will be credited to the user's wallet on the exchange.

Recommendations of experts

The international market offers users several options for buying crypto. Don't know where to stop?

Centralized exchanges: pros and cons

The most popular scheme is largely due to accessibility and transparency. Exchanges store user money in cold wallets. The client logs into his account, implements the protection measures offered by the site, receives a guarantee of asset safety.

It is desirable that the platform allows you to set two-factor authentication type. This will help prevent fraudulent attacks, save users' personal data and, of course, money. Some exchanges offer whitelists for review - lists of addresses to which you can withdraw money. But a lot depends on the exchange.

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Each centralized platform provides data on hourly, daily price changes, reflects the latest bids for the purchase and sale of assets, provides for familiarization with schedules for the formation of bids in hourly sections. According to the charts, you can understand the current trading volumes, develop a promising strategy for action. All these points are important for analyzing the current and future movement for specific assets, understanding trends, etc.

When you decide where to buy cryptocurrency, add funds to your balance. The site may require mandatory verification. Recently, the laws of most countries have become stricter, and bans on anonymous trading have been introduced.

P2P

Another popular way to buy crypto is through the P2P platform. The decentralized system acts as an intermediary between buyers and sellers, creates the necessary conditions for concluding transactions. She takes a percentage for her services. Some platforms may provide commission-free periods - on average within a month after creating an account. Protection of personal information at a centralized level is not provided - everything will depend on the user.

Buying and selling cryptocurrencies through P2P is carried out instantly - by analogy with exchange market orders. There are no price charts to help you decide on the best time to buy. P2P platforms are in demand among active, experienced traders who have an adequate understanding of market processes and are able to make their own forecasts for price changes.

What to do next

Where to put the cryptocurrency how to buy which you now know? Investment options are divided into passive and active. Liabilities involve holding the asset until better times with periodic rebalancing of the cryptocurrency portfolio. Active investment is trading. For anyone who knows how to buy cryptocurrency on Binance and other exchanges, both options are available.

Buying and holding is a relatively simple option, but the yield on it will be moderate. Earnings depend on your ability to predict assets and coin rollbacks. It is important to choose the right currency, since not all options are stable and promising in principle. Buying with a holding at interest is a service of individual trading floors. The option is quite profitable, rates can be fixed and floating.

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Trading requires the trader to spend time and have certain knowledge. If you want to earn on active schemes, but do not want to delve into the details, transfer the portfolio to trust management.

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