preloader

Blog

We are waiting for you with weekly updated exciting content on the topic of cryptocurrency trading. Here you can read Tradensea's latest blog articles.

December 30 2022 Cryptocurrency
Share

How to buy cryptocurrency

Cryptocurrencies are attracting more and more attention these days. It is a form of investment that offers high returns, so it is not surprising that there is increased interest. Let's find out what you need to know about buying cryptocurrency.

Where to buy cryptocurrency?

There are several ways to buy cryptocurrency. There are two aspects to consider when making your choice. One is the cost of buying on the platform and the other is whether you actually own the asset.

Let's start with the second factor. Recently, a number of financial services providers have added cryptocurrency purchasing to their portfolio. For example, you can buy crypto directly via Revolut or PayPal, but you only buy so-called exposure. In practice, this means that you cannot actively trade the cryptocurrency you receive. 

It is much more advantageous to make the purchase in a place where there are no obstacles to doing so. If we use crypto platforms such as Binance for this purpose, we will actually own the digital gold we acquire. 

Beyond crypto exchanges, there are alternative ways to buy gold. For some, using Crypto ATMs may be a convenient solution. There are also online marketplaces where you can also make a purchase. The latter is a little more complicated, but with a little research it should not be a challenge for anyone.

To buy, you first have to convert your forint into dollars or euros. Even here, the service providers will charge you a fee, and then you have to invest. The larger crypto exchanges tend to use lower fees for ATMs, but often try to make their offers incomparable with other market players. 

IT security is also important

In the past, there have been several cases of fraudulent attempts to steal investors' assets using various hacking methods. Therefore, only buy from trusted, well-known providers! These companies take extra care to ensure that data is not accessed. For example, they also provide two-factor identification. Remember: if someone has access to your private key, they own your coins! Later, if we want to trade these cryptos, we will also need to choose reliable trading software.

Where do we store our cryptocurrencies after purchase?

Even if we have bought our cryptocurrency on a secure platform, we should protect it from possible attacks and theft attempts afterwards, during storage. We can do this simply on our computer or on a thumb drive, but if we don't want to trust this part of our wealth to our installed antivirus, we can consider a higher level of security.

That's what hardware wallets are for. These are not connected to the internet, so you can only access their contents if someone physically gets hold of them. Even then, it is not easy for the thief, because these devices can be protected by a pin code. So only with that knowledge can the contents be accessed. The most common products in this area are Ledger and Trezor. 

Both for purchase and for subsequent storage, it is worth going down the more familiar routes. Lower fees often mean lower quality services. If you want to learn more about the world of cryptocurrencies, we recommend you read our constantly updated blog.

Tags

#trade;

#crypto;

You may be interested in these

Cryptocurrency

Selling Ethereum - everything you need to know

December 12, 2022

Whether you bought it or mined it, sooner or later you may feel that the best thing to do is to sell Ethereum. You may have acquired it in the first place to trade it, you may have other reasons for doing so, but if you have, you'll want to know where, how and when to sell. This article will help you do that.

Cryptocurrency

Cryptocurrency: what is it and why should you care?

December 12, 2022

The question "Cryptocurrency, what is it?" is coming back from more and more places. Although at first it seemed like something the vast majority of people would have nothing to do with, we now somehow feel it's worth investigating what this particular currency is all about.

Cryptocurrency

Coin trade tutorial

December 12, 2022

Learn about coin trade methods! To trade cryptocurrency, you need to buy at a low price and sell at a higher price. As simple as it sounds, it is a complex business.

Disclaimer
The content of any communication by the Service Provider is based on a subjective opinion and is intended only for general, non-personalized information, orientation and educational purposes. The Service Provider is not considered an investment firm under section 4 paragraph (2) point 10 of Act CXXXVIII of 2007 on investment firms and commodity dealers hereinafter referred to as the Investment Services Act. and the Service Provider's activities are not regarded as investment analysis under section 4 paragraph (2) point 8 of the lnvestment Services Act or investment consultancy under section 4 paragraph (2) point 9 of the lnvestment Services Act.