How To Start Buying Cryptocurrencies? | Beginner's Guide
Using Bitcoin and other cryptocurrencies is very simple - you just need basic computer skills. Check it out!
Virtual or cryptographic currencies such as Bitcoin or Ethereum are definitely the hottest investment products. People who invest their money in cryptocurrency believe that they will replace national currencies (fiat money) and create the first free worldwide currency.
After acquiring cryptocurrency, the most important thing is how we will store them. There are many wallets on the market that will allow you to store your funds. More about wallets in How to store cryptocurrencies?
Available types of wallets:
- desktop wallets (i.e Electrum for BTC)
- website wallets (i.e Blockchain.com)
- mobile wallets (i.e Coinomi)
- hardware wallets (i.e Ledger
Where to buy cryptocurrencies?
Some time ago, purchase of cryptocurrency was a path through torment. We currently have a wide range of possibilities:
- exchange - This is the simplest and the fastest way to buy your first tokens. The rates of buying and selling particular currencies are usually higher than on the stock exchanges. A big plus for exchanges is no need to registrate and verificate. Exchange offices:
- Stock exchange - It allows us to trade between users of the stock exchange. Probably the cheapest form of buying cryptocurrency. The downside of exchanges is the need to verify, i.e. to send scans of your identity document/passport/driving license (more informations on exchanges). Exchanges:
- Direct trade p2p (peer to peer) - buy/sell face to face through contact with a contractor. There are sites which enable that: LocalBitcoins.com, or by posting on the forum.