How to buy cryptocurrency

How to buy cryptocurrency

Bitcoin’s popularity over the past few years has been fueled by dynamic price increases. The great interest and desire to have this cryptocurrency has caused a lot of traffic on the Internet, which has further fueled the emerging potential speculative bubble on the market. Many people have been asking themselves how to become the owner of Bitcoin or another cryptocurrency. There are several ways, however, as recent history has shown, access to cryptocurrencies may not necessarily be easy and common and involves a lot of risk.

Create a Bitcoin wallet

It is used to store your cryptocurrency. You will need it regardless of the service and payment method you choose. The wallet can operate as an online service (i.e. part of an account on the cryptocurrency market or in a dedicated website), a desktop, mobile or offline external device. Sample bitcoin wallets can be found here.

Regardless of the type of cryptocurrency wallet, store access keys and passwords in a safe place, take care of their appropriate level of complexity and use secure encrypted connections with the network.

buying bitcoin

Registration on the cryptocurrency exchange

The first thing to do to get started and buy cryptocurrencies is registration on the stock exchange. Stock exchanges are divided into those that accept money (i.e. you can deposit USD) and those that only trade on cryptocurrency pairs (this means you won’t deposit dollars there).

Currently, one of the most popular and easiest cryptocurrency exchanges to buy and invest in cryptocurrencies is Coinbase and we recommend it to start with. There are others, however, Coinbase has many advantages that beginners will greatly appreciate (including the possibility of paying by credit and debit cards, a trivial purchase process and a free of $ 10 when buying bitcoin or other cryptocurrencies over $ 100.) Also, the opening Coinbase accounts are a simple process that we will describe below.

Choose a purchase method

Using the cryptocurrency exchange is the simplest form of acquiring digital currency. All you need to do is pay via bank transfer or paypal transfer. Within a few minutes, the right amount of bitcoins should be on your account. However, this is not the only way to trade cryptocurrencies.

Finally, you can use an ATM to buy. It’s convenient if you have cash that you want to spend on buying cryptocurrencies right away. The website will help you find the right device.

An alternative way to get Bitcoin

If you want to use the potential of Bitcoin volatility, but do not necessarily rely on its keeping value, you can choose to trade cryptocurrency contracts. XTB offers Bitcoin CFDs and several other popular cryptocurrencies and they allow you to use Bitcoin volatility without having it physically. The great advantage of this solution is the security associated with the regulations of the financial institution, which does not apply to most cryptocurrency exchanges.



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