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How And Where To Buy Best Crypto Currencies If You Have No Idea?

How And Where To Buy Best Crypto Currencies If You Have No Idea?

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It is possible that the boom of virtual currencies or cryptocurrencies has caught your attention, that you do not have an overview of how they work or that you are ignorant of what their risks are and, even so, you have decided that it is time to catch up on this new financial universe. Surely you have wondered how and where to buy best crypto currencies if you have no idea.

It is normal to have doubts or not to be entirely sure about a new currency that does not have the support of governments. Investing your savings in a product that you do not know well can be dangerous, so read this entry carefully. Do not go crazy just because someone has told you the fortunes that have been made with Bitcoins. A lot of money has also been lost.

Cryptocurrencies are virtual currencies that are based on cryptography, which is a security encryption, to certify transfers or payments for services and products . They are a kind of alternative currency that only exists on the net and is stored digitally.

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Before considering how and where to buy virtual/crypto currencies, you should consider that they are not under the control of a central bank, unlike the currencies of a lifetime, dominated by central banks. They are regulated thanks to a decentralized database, usually through a blockchain or public blockchain .

The first virtual currency to appear was Bitcoin in 2009. Since then, countless cryptocurrencies have emerged with different characteristics, use objectives and protocols, such as Dogecoin, Ethereum, Ripple or Litecoin.

Now that you have the fundamentals clear, it is time to ask yourself how and where to buy virtual/crypto currencies.

How and Where to buy Crypto currencies: Wallets

The first thing you should do is create a Wallet or Virtual Wallet. It works as a Digital Wallet in which you will store or keep your virtual and traditional currencies. It is a computer program that provides access to the block chains of each currency.

A wallet allows you to check your account balance, receive and send currencies and, depending on the portfolio you have contracted, access other services such as exchange houses where you can buy and sell cryptocurrencies or graphs with the evolution of the different quotes.

To open a wallet, they will ask for your personal data, security and passwords, as well as the different means of payment with which you work, be it a bank account, your credit card or a Paypal account.

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Where to Buy Crypto Coins ?

Now that you have a wallet, which is the first step in buying Crypto currencies, you will want to know where to do it. You have 5 possible options at your fingertips:

Directly in your wallet . The best wallets already offer you the option to buy coins, so you don't need to search for a new site. Take a look at the control panel, it is very possible that the option will appear immediately.

Exchange houses . They are platforms in which to buy virtual currencies. The best known are Coinbase, Kraken, Cex.io, Poloniex, Coinmama or Bitsquare. You just have to register and choose a regular payment method. At some point during the transaction, it will ask you for the address of your wallet.

Trading . You can buy and sell cryptocurrencies on Forex ( Foreign Exchange ), the foreign exchange market. You can even exchange them for euros or dollars and other accepted currencies. You will need an account with a specialized broker that allows you to trade your cryptocurrency.

Debit cards . They are Visa or Maestro cards that work like a wallet in which you can store different cryptocurrencies. They are linked to an application from which to manage balances, sell and buy virtual currencies, move them between wallets or schedule monthly payments.

P2P (peer-to-peer) . Buying virtual currencies is also possible between individuals virtually. In this case, each seller sets the sale price they consider, so it is not a popular method. The most powerful platforms for finding sellers and buyers are Localbitcoins and Cancoin P2P.

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