CRYPTOCURRENCY




What is Cryptocurrency:

A cryptocurrency is a currency of digital world, which is also alternative form of payment created using encryption algorithms . Encryption technologies means that cryptocurrencies functions as a currency and a virtual account system. To get cryptocurrency, you should have Crypto Wallet. Wallets are software that is a cloud based service or is stored on your mobile phone/App or Computer. The wallets are the tools with which you can access your crypto assests with the help of encryption keys that confirm your identity and it links you to your crypto wallet.

You have most probably read about some of the most popular cryptocurrencies:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Dogecoin
  • Shiba Inu
  • Ada
  • Binance coin

How to buy Cryptocurrency:

If you want to buy Cryptocurrency then first you have to find Broker or Crypto Exchange. There are few differences between them.

Step 1: Choosing a platform:

The first Step is to choose platform to use for buying cryptocurrency.


What is a Cryptocurrency Exchange:




The cryptocurrency exchange is a platform where people trade (Buy or Sell) cryptocurrencies. Exchanges often have low fees, however, they have more complex interfaces with different trade types and advanced charts which can be helpful for new investors.


Popular cryptocurrency exchanges are Coinbase, Binance and Gemini. These companies trading interface are welcoming for beginners, mostly those who do not have any idea about crypto at all, they are also user friendly easy purchase option.

What is Cryptocurrency Broker:



Cryptocurrency brokers are same as traditional brokers that can be individual or platform that acts as an negotiator between you and the market for buying or selling crypto. Moreover, crypto brokers sometimes offers derivatives products to traders in which the trader has the option to enter in contract to speculate on the price of cryptocurrencies.
These also offers financial assets like ETFs, bonds and stocks. These platforms offers low trading costs, however, less crypto features.

Step 2: Deposit in your account

Once you choose the platform to buy cryptocurrency with the next step is to fund your account so you can actually begin trading. Mostly crypto exchanges allows people to purchase crypto using fiat currencies such as Euro, Dollar or British pound and many more.
You have to purchase through your debit card or credit card it varies with platform.

The accepted payment methods and time taken for deposits or withdrawal has difference per platform. The time taken for deposits are according to payment method. One of the most important factor is fees, these include deposits and withdrawal transactions + trading fees. You will have to research which platform have high fees or low fees because it varies with platforms.

Step 3: Placing order 

You can place order with brokers or exchange web/app. If you want to buy cryptocurrency then you have to place the order by selecting specific crypto choose how many coins of a specific crypto you want to buy. Then choose your order type and you will get your crypto in your wallet same goes for selling.

There are many other ways to invest in crypto. These are PayPal, Cash app, and Venmo which gives opportunity to users to buy or sell and hold cryptocurrencies.