So you have decided to invest in crypto. Congrats! You must be feeling super excited, but where do you start?
Buying and selling cryptocurrency is relatively simple if you know how. In this post I will explain the best exchanges to buy and sell cryptocurrency on, the different types of fees for buying and selling, and how to set up accounts in each one.
I will also give you a few recommendations for the safest wallets to store your cryptos in so that you can be sure your investment is secure.
With the cryptocurrency market cap having recently passed the $800 billion mark earlier in November, there has never been a better time to buy and sell cryptocurrencies.
A recent survey by Clovr found that most Americans are interested in buying cryptocurrencies, but they don’t know how to get started.
This simple guide will explain the best exchanges to trade Bitcoin and other cryptocurrencies on, based on the fees, ease of use and the number of currencies available.
Only a few years ago, buying Bitcoin or any other cryptocurrency was pretty much impossible for non-technical people. However, with recent advancements in exchange user interfaces (UIs), it’s now easier than ever to buy cryptocurrencies.
In some cases, you can even buy without needing to provide any personal information.
Cryptocurrencies are a revolutionary invention. They allow you to send or receive any amount of money instantly with anyone in the world, without any fees, and with no middleman.
Crypto is a new technology that is still in its infancy. Just like the Internet and email were new technologies that were not understood at first either.
Here’s how to buy and sell cryptocurrency:
The easiest way to buy cryptocurrency is through an exchange. The most popular exchanges are Coinbase, CEX, and Binance.
Coinbase is the largest US-based crypto exchange. If you’re in the US, buying from them is a good option since they’re insured and have a straightforward interface.
CEX is also very popular and offers fiat currencies (like USD and EUR) for several of the larger currencies. For example, if you’re looking to buy Ethereum with USD, this is a solid choice.
Binance is one of the world’s largest exchanges and has become extremely popular in short period of time. It was founded by Changpeng Zhao and Yi He in 2017 and has quickly grown to become one of the largest exchanges on earth by volume.
It’s easy to get started buying coins. You can register for an account at any of these exchanges, verify your identity and start buying coins:
While this is true, when cryptocurrency is purchased on these exchanges it is stored within their custodial wallets and not in your own wallet that you own the keys to. The insurance that is provided is only applicable if the exchange is at fault. Should your computer and your Coinbase account, for example, become compromised, your funds would be lost and you would unlikely have the ability to claim insurance. This is why it is important to withdraw any large sums and practice safe storage.
You may feel comfortable storing your cryptocurrency on an exchange – this is fine as long as you use two-factor authentication and select strong passwords. There are many other alternative exchanges that can be used to buy bitcoin and other cryptocurrencies if you don’t feel comfortable using Coinbase. However, we recommend using Coinbase as a beginner since their interface makes buying easy for beginners.
I’ve been in crypto for a while now and have gotten countless questions from friends and family on how to get started. It’s not as hard as you think, it just takes a little bit of doing.
My goal with this post is to explain how to buy and sell cryptocurrency (bitcoin, ethereum, litecoin) in the easiest possible way – a simple step by step guide for beginners.
First things first: here’s how to buy and sell cryptocurrency. The first thing you need to do is sign up for an account on Coinbase. After that, you’ll need to verify your identity by uploading a picture of your drivers license or passport. Once you’ve done that, you’ll be asked to enter information about your credit card (don’t worry, they don’t charge fees).
After you’ve signed up, go ahead and click “Buy” on the top right corner of the screen. You should see a list of available cryptocurrencies under “Choose Currency.” For this example, we will use Bitcoin (BTC). If you want to buy Ethereum (ETH) or Litecoin (LTC), simply choose one of those and follow the same steps listed below.
A dropdown menu will appear where you can select the amount of Bitcoin
Because of the high volatility of crypto currencies, we are going to look at exchanges by market cap. This will put all coins in the same perspective and make it easier for you to compare. We will also show you how to buy the top 5 cryptocurrencies by market cap and where to store them safely.
The first step is to open an account on an exchange that allows you to buy cryptocurrency with your fiat currency (USD, EUR,…). In this post, we will focus on the top 5 largest coins by market cap, listed as follows:
Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH) and Litecoin (LTC).
You can find a full list of all coins here: coinmarketcap.com/all/views/all/
Open an account on Coinbase