How to Buy Cryptocurrency: the Most Reliable Assets

19 April, 2022 How To

How to Buy Cryptocurrency: the Most Reliable Assets

 

Nowadays, many people wonder how to buy a cryptocurrency and start trading. There is a wide range of assets and cryptocurrency exchanges on the market, which can confuse inexperienced traders that do not know which platforms are trustworthy and which are not. If you are a novice investor and want to buy a cryptocurrency in Ukraine in the simplest, but at the same time, reliable way, try out such popular platforms as WhiteBIT, Currency, Binance.

 

Investing and Trading

Investing in cryptocurrency is the acquisition of assets with the aim of obtaining subsequent profit. The digital asset market is attractive due to the high volatility of assets: this positively affects the size of investors' income. As a rule, investing involves financial investments for a long period of time.

 

Trading is short- and medium-term investments made to earn on the exchange rate difference. The value of assets can rise and fall in a matter of seconds, and to make money, you need to know the intricacies of the process and master the skills of working with specific tools. Otherwise, it will all look like a gamble with the most likely sad outcome.

 

Types of Cryptocurrency

There is a wide range of cryptocurrencies on the digital asset market, and it is pretty difficult to choose among them, especially for beginners. The following assets can be classified as reliable and in-demand:

  • Bitcoin is the first cryptocurrency on the market, a peer-to-peer payment system that uses cryptographic methods to protect the system. All information about transactions between users of the system is publicly available. Coins are mined by a network of miners. These can be both large mining companies and private miners who have installed equipment for mining coins at home.
  • Ethereum is a digital currency, the second most popular after Bitcoin, which is based on conducting transactions and supporting the operation of the Ethereum blockchain. Many decentralized applications (dApps) are created on the basis of the Ethereum network.
  • Tether is a stablecoin. The value of this digital coin is pegged to the dollar. Stablecoins have a more stable exchange rate, and therefore, they are often used for the least risky investments as an alternative to investing in US dollars.
Before buying cryptocurrencies, it is crucial to study their charts and decide on the exchange where you will operate them, as well as the method of storage if you are investing for the long term. Traders can buy cryptocurrency on the exchange or from other users: it depends on the strategy they choose and the market situation.

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