If you are new to the world of crypto, to buy Bitcoin, Dogecoin, Ethereum and other cryptocurrencies can be confusing. But it is not this complicated and easy to learn. You can start investing in cryptocurrency by following these 5 steps.
Open account
1. Choose a broker or crypto exchange
To buy cryptocurrency, first you need to pick a broker or a crypto exchange.
2. Create and verify your account
Sign up to open an account. Depending on the platform and the amount you plan to buy, you may have to verify your identity. This is necessary to prevent fraud and meet regulatory requirements.
3. Deposit Cash to Invest
To buy crypto, you must have funds in your account. You can deposit money into your crypto account by linking your bank account or making debit or credit card payments.
4. Place your cryptocurrency order
Once there is money in your account, you are ready to place your first cryptocurrency order. There are a lot of cryptocurrencies to choose from. When you decide on which cryptocurrency to purchase, you can enter its ticker symbol and how many coins you wish to purchase. With most exchanges and brokers, you can purchase fractional shares of cryptocurrency.
5. Select a storage method
It is so important to have a secure storage place for your cryptocurrencies. If you are buying cryptocurrency via a broker, you may have little to no choice in how your cryptocurrency is stored. If you purchase cryptocurrency through an exchange, you have more options like leaving the crypto on the exchange, in a hot wallets that are stored online or cold wallet that are not connected to the internet.
Sven Franssen