How to buy cryptocurrency Comments Off on How to buy cryptocurrency 1340

Keen on purchasing cryptocurrency? We’ll show you how!

Thanks to the Bitcoin value market surge, there’s been a high demand for cryptocurrency. Now, you have the opportunity to buy various cryptocurrency – Bitcoin, Ethereum, Litecoins and even Ripple. The question is, where do you start?

You can use online exchanges or buy via marketplaces using either cash, credit or debit cards. We breakdown some of the steps you’ll encounter when buying cryptocurrency:

Opening a crypto wallet

Much like a real life wallet, a crypto wallet is where you store your cryptocurrency. A wallet can include more than one kind of cryptocurrency. This means that if you’re trading Bitcoin, Litecoin and Ethereum, you won’t have to constantly move between platforms.

The first thing you do is register with your chosen wallet and verify your identity, this helps the wallet to prevent fraud and confirm that you are in fact a real human being. These wallets can be found the exchange site of your choosing, and are also available as apps if you want to check on your investment on the go. Read more about storing your cryptocurrency.

Select a cryptocurrency exchange site

When selecting an online crypto exchange, make sure to do your research. Choose one of the larger, trusted exchange sites to be sure your money is safe. We have a list of recommended platforms that are credible and regulated. All transactions on these platforms are fast and verifiable – meaning that you can’t be taken advantage of by people with bad intentions.

Register on your chosen platform to start trading – this should only take a minute.

Purchasing your currency

Now it’s time to deposit money from your bank account into your wallet to buy coins. This may take a few hours or days, depending on the bank you use. Once you have deposited the money, it’s time to buy currency. Choose the currency you want to buy and how much you want to spend. You will be notified on how much your currency is worth with regards to the markets.

Spending your currency

In terms of sending and receiving currency, your wallet acts a lot like the server you use to manage your emails. You will be given a public address, like your email address, which you give to people you want to receive currency from. You will also receive a private key,  which is like a password. When someone is paying you in cryptocurrency, you provide them your public address and they use this to send money to your wallet.

It’s also possible to buy coins from friends, as well as people on online forums. All you have to do is verify they have the coins, negotiate how much you want to spend and provide your public address details to receive the coins in your wallet.

Binance

Binance is a globally renowned cryptocurrency exchange. The platform is easy to use, secure, stable and can work on all devices. It supports multiple coins – BTC, ETH, LTC and BNB.

The platform has a high-performance algorithm, processing 1.4 million orders per second, making it one of the fastest exchanges in the world. After first establishing itself 5 months ago, Binance already boasts 5 million users. This surge in growth proves that it is the ideal cryptocurrency exchange.

Creating an account is easy. Just sign up, register and your account will be ready.

Binance is a globally renowned cryptocurrency exchange. The platform is easy to use, secure, stable and can work on all devices. It supports multiple coins – BTC, ETH, LTC and BNB.

The platform has a high-performance algorithm, processing 1.4 million orders per second, making it one of the fastest exchanges in the world.

After first establishing itself 5 months ago, Binance already boasts 5 million users. This surge in growth proves that it is the ideal cryptocurrency exchange.

Creating an account is easy. Just sign up, register and your account will be ready.

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