Once you have learned about profits that can be earned with bitcoin, learned about risks associated with it, set your priorities, you are all set to buy crypto coins and become a crypto owner. The crypto world is huge as there are around 5000+ cryptocurrencies that exist today. Still, crypto experts find it difficult to choose the right one to invest in. as we know, the crypto market is volatile, and the value of cryptocurrency fluctuates every hour; it is important to choose the coins that are stable and are known across the world to provide better returns.
Even the extremely popular and established cryptocurrencies, like Bitcoin and Ethereum, have their own volatility experience. Still, they are now considered stable and have a great record of increased value. Though every cryptocurrency is different, the process of investing in them is similar. Once you have got knowledge on how to buy one cryptocurrency like bitcoin, you can purchase or invest in any cryptocurrency. First, let us read about the process of buying bitcoin that is considered digital gold and one of the most valuable cryptocurrencies across the world. For better insight, you can visit this link.
Choose The Right Crypto Exchange Or Trading Platform
Bitcoin and other cryptocurrencies aren’t like traditional currencies, as these can’t be purchased and stored in banks. Instead, crypto trading platforms and crypto exchanges are developed and designed to facilitate users to buy digital currencies. You can find thousands of crypto exchanges located online that users can use to buy cryptocurrencies. However, out of all crypto exchanges, only a few are popular and genuine ones through which users can buy and sell crypto coins.
While choosing the right trading platform or a crypto exchange, you need to consider a few factors: security, availability of coins, and fees.
The government or banks don’t back cryptocurrencies, and therefore no government or bank is responsible for the security of crypto coins. Sometimes, trading platform compromises the information of users or crypto exchange gets hacked, in such cases, you could lose all your investment. Therefore, it is better to move your coins into your personal wallet that is secure and use all security measures to ensure the security of your wallet.
Availability Of Coins
Not every exchange is the same, and not all exchanges deal in all the cryptocurrencies. For example, only a few crypto exchanges deal in all cryptocurrencies, and other crypto exchanges deal only in popular cryptocurrencies like Bitcoin, Ethereum, and more.
Every exchange charges different fees, and this is based on the volatile market and how the exchange charges per transaction. Crypto experts say that if you choose to stick with a reliable and reputable exchange, you have to pay higher fees. Reputable exchanges offer more features, better security, and high protection, which is why they charge high fees. The fees also depend on the payment method, your location, and multiple other factors.
Add Funds To Your Account
Once you choose the right crypto exchange, you need to provide information like source of income, SSN, ID, and other important documents to open an account with the exchange. Some exchanges allow users to link their bank account or pay with a debit/credit card, while some allow paying using cash. All payment options will have different fees.
You need to fund your account, and it is different than buying cryptocurrencies. At first, need to add funds to your account, and then you need to exchange your fiat currencies for bitcoin or other cryptocurrencies that you want to buy.
Place Your Order
After you have added funds or chosen a payment method to buy bitcoins, you are now ready to place an order. All you need to do is enter the number of fiat currencies you want to trade for digital currencies and then click the option of “buy.”
Secure Your Crypto-Investment
Exchanges allow users to store their funds in a bitcoin exchange account; this isn’t a secure method to secure your coins. It would be best to choose a digital wallet to store your digital coins, whether online or offline.