Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Everything You Need to Know Before Buying Cryptocurrency

It’s not a surprise that before buying your first bitcoin, you need to spend some time exploring all the benefits of blockchain technology. Its history, functionality, as well as key disadvantages, must be well-studied.

Think about conducting a
research on competing platforms as well. Newbies should try their best to learn
about major exchanges, wallets, and secure storage procedures. Today, you will
find out the key tips and facts you should know before buying a crypto. Let’s
get started!

Key Tips to Note Before Buying a Crypto

Today, ‘a hype’ caused by cryptosphere
itself it’s not something unusual. However, make sure you know how to deal with
it before buying a crypto. Let’s consider the key tips every crypto-enthusiast
should know about!

1. To purchase your first
cryptocurrency, you will need to have a wallet. Here are the main types of
crypto wallets:

     

      • Hot (or online) wallets – wallets of that kind don’t require special software installing on the user’s computer. Among the good ones, let’s highlight Coinbase, Cryptonator & Blockchain wallets.
      • Cold wallets – these ones are released as a program for PC installing. Among the cons, let’s note the necessity to download the ‘entire’ blockchain. Its size is enormous. However, there are cold wallets that take up minimum storage space. As an example, I will highlight Jaxx, Electrum & Exodus wallets.
      • Paper wallets – here all information for a wallet accessing is encrypted in the form of a QR code. Moreover, the data isn’t stored on the website. The user prints the paper and stores it in a hidden place. A good example of such a wallet is BitAddress.
      • Hardware wallets –  these wallets are available in a form of special devices resembling a flash drive. These ones provide high-level crypto security. That is, they’re suitable for large amounts of coins storing. The best ones are Ledger, Trezor, Keep Key & Pi Wallet.

    2. Bitcoin isn’t the only reliable
    cryptocurrency. If you’re about to invest in digital assets, don’t be obsessed
    with BTC. Just think about including other hot cryptocurrencies in your portfolio.

    3. Before buying a crypto, make
    sure you calculate the commission each exchange offers. Due to inexperience and
    choosing the simplest way, you can lose a lot on commissions.

    4. If you’re about to buy cryptocurrency, just don’t purchase them during an unstable exchange rate. It will be more profitable to wait or invest in promising cryptocurrencies until they increase sharply.

    What I Need to Know to
    Buy Cryptocurrency

    Nowadays the issue of how to buy cryptocurrency is under heated discussion. There are other five important facts you need to know to buy cryptocurrency.

    Team of Developers

    Before buying bitcoins
    every crypto-enthusiast should pay attention to the team of developers. A handpicked team is a ticket to success of
    any crypto project.
    Try to google more info about the project you want to
    deal with. Of course, in case developers don’t hold the details confidential as
    Facebook (Libra coin team) does.

    Location

    To find out how you can
    buy cryptocurrency, you should check current regulations of your place of
    living.

    Means of Payment

    The best ways to get coins usually
    correlate with the most widespread means of payment. Among various means of payment
    let’s distinguish the most common ones, such as:

       

        • credit
          card;
        • debit
          card;
        • cash.

      Each platform
      accepts various means of payment. So, check a few of them first before making a
      decision.

      Market Offer

      If you want to invest in crypto,
      you should find out about fixed coins’ emission as well. A crypto with a higher cost usually has a poor market offer. You
      can find out the real cryptocurrency cost by dividing its market capitalization
      by its current offer

      Your Investments

      Here is one key note: don’t try to
      invest in crypto your last money. First of all, make sure you have enough to
      spend and then invest. Good luck!

      Leave a Reply

      Your email address will not be published.