Where to Buy Cryptocurrencies?
Since the rise of Bitcoin’s popularity, many people started investing in it and other cryptocurrencies. There are many reasons to why people prefer cryptocurrencies over fiat currencies. The most important one is probably the fact that cryptocurrencies run on the blockchain system, which focuses on decentralized networking and doesn’t involve third parties, such as central banks or governmental institutions. This minimizes the fees and transaction processing times, which is what most people are looking for in a payment system. While people are keen to invest in cryptocurrencies as soon as possible, it is important to consider the best methods and the most trustworthy businesses to deal with before putting your money down.
The easiest way to invest in cryptocurrencies is to find a suitable centralized exchange. A centralized exchange is a business that allows clients to trade different currencies. When choosing one, you should do your research on their policies, accepted payment methods and countries, how are their fees calculated, and, of course, the history of the exchange. In our times, crypto exchanges are still pretty hard to trust, especially if they aren’t licensed, so it would be best to gather as much information as possible in order to get some basic guarantee that your actions are secured.
Bitfinex, Poloinex and Cex.io are exchanges that are known for good reputation and liability on the market. After your registration on one of them, and your first transaction, don’t forget to store your cryptocurrencies on a crypto wallet, as any of exchanges themselves are a dangerous place for that, due to possible external hacks.
Another easy way to invest is trading platforms. Here, you can make other investments with your cryptocurrencies, which is a safe way to avoid fees, or the intervention of third parties. A couple of them are WhaleClub and Cryptopia. If you want to expand your cryptocurrency investments, it is a good idea to start with these two and explore the possibilities they offer.
This might be a more complex, but also an effective way of getting your hands on cryptocurrencies. Cloud mining is executed through powerful hardware that decodes hashes, earning you crypto coins as rewards. Not every currency can be mined, but there are still plenty of them that can, including the most popular ones, Bitcoin and Ethereum. You don’t necessarily need your own hardware to mine. There are companies that sell their own computing power for a fee, and this is what is known as cloud mining. You can check out Hashflare and Genesis Mining for Bitcoin, Ethereum, and a few other cloud mining contracts.
Before making an investment, do as much research as you can about the method you choose, and the services of the business you’re planning to buy or mine through. Even if something appears to be trustworthy at the first glance, don’t forget that idiosyncrasies aren’t uncommon in the crypto world. For example, in the case of the fall of one of the biggest exchanges, Bitconnect, there weren’t many people who saw it coming. Before making an investment, be well prepared and never forget to not invest more than you can afford to lose. At the end of the day, it’s those who planned everything efficiently who can make it big in the cryptocurrency world.