Cryptocurrencies are finances existing in a digital space that have the same use cases as traditional money but not yet widespread as much as conventional finances are. That is, cryptos are not actively used as payment in shops and everyday life, but many companies integrate this option little by little.
Crypto is a perfect tool when you need to conduct money transfers: they are much faster and cheaper than banks offer. Thus, you can send money anywhere in the world with a couple of clicks. Large financial corporations are starting to implement blockchain into their work princesses to make it much cheaper and quicker for clients to proceed with money transfers.
Another large scope of crypto use is trading and investing. Like in the real world, it means buying assets and holding them for some time to make money on the price changes. Trading digital assets has taken an absolutely new level, for the crypto realm is incredibly volatile and enables earning much bigger sums. All the processes take place on crypto platforms.
A cryptocurrency trading platform is a website where you conduct all operations with digital funds and fiat currencies to make money. Exchanges take commissions for their services.
Investing in Cryptocurrency for Beginners
Here are some recommendations on how to invest in cryptocurrency for beginners:
- Select a cryptocurrency. Consider the most traded coins with the biggest market cap. Study the technology of the project and its social networks.
- Pick a style for trading or investment. Practice different trading methods with small sums to understand which strategy suits your character.
- Select a cryptocurrency trading platform. Consider the biggest and most reputable exchanges with robust security and various trading tools.
We recommend using the WhiteBIT crypto website. WhiteBIT is a highly respected, regulated exchange that offers users the ability to buy, sell and trade an assortment of digital assets. With its headquarters located in Estonia, the platform has extended trading pairs such as fiat-to-crypto and crypto-to-crypto choices which are perfect for experienced traders who seek advanced tools like margin trading, stop-loss orders, and limit orders. To ensure maximum security measures have been taken into account; two-factor authentication along with cold storage user funds facilities have also been provided. Therefore you can initiate your journey into the world of cryptocurrencies using just your bank card:
- Register an account and pass verification
- Link your bank card
- Deposit the needed sum to your account
- Open a converter and select the fiat money you had and the coin you want to buy for them
- Pay the commission.
Once the fee is paid, you will receive cryptos in your account.
Read the WhiteBIT blog to find more articles on cryptocurrency investing for beginners.