Diving fresh as a newbie in crypto can be pretty challenging. The biggest challenge that you can encounter is how to buy crypto coins through safe transitions and secure those hard-earned coins. We have compiled multiple ways to buy cryptocurrencies and keep them safe for you.
Through a crypto exchange
The first and foremost thing that an investor needs to do is find a Crypto exchange platform. New beginners have to keep in mind that every crypto exchange platform aspires, and sellers are willing to make a trade within a low fee charge.
However, there are a lot of complex interfaces that can cause a lot of confusion. Therefore, the investor needs to be conscious when choosing a broker or crypto exchange that is convenient and user-friendly. If you are in the UAE, you can count on Bitosis to buy crypto securely.
Through a broker
Cryptocurrency brokers act as an in-between currency exchange that works for the investor and the Crypto exchange party. They share information regarding the patterns of buying and selling that are taking place in the market.
SoFi and Robinhood are popular brokers across the world. You need to be extra careful while making any transaction through a broker as it may cause some restrictions.
Creating a secure account
Once the investor selects a cryptocurrency broker or an exchange platform, the next step is to sign up and create an open account.
The investor has to go through an identification and verification process. It is a necessary process and demands accurate and truthful information for Federal regulatory requirements.
The process may demand approval for identification such as a passport, national ID, or driving license and may ask you to upload a clear picture.
To buy your first Crypto coin, you need to show the available funds in your wallet. An initial wire transfer or a payment through a debit or credit card may be required.
You may also be asked to link your bank account with your Crypto account. This might take a few moments or, in some cases, a few days before you can buy any cryptocurrency.
Placing an order
Once the money is safely deposited in your account, you can make your first cryptocurrency order. The investor has a vast range of cryptocurrencies which he can buy according to his range and interest.
If the investor has decided on the choice of coin he wants to buy, he needs to enter Its symbols, such as Bitcoins is BTC, and the number of coins he wants to purchase.
Some exchange platforms offer the investor some fractional shares that he can use to purchase high price tokens, which are otherwise hard to earn.
Storage and safety of crypto
Cryptocurrency exchanges need end to end encryption. However, they are always at a high risk of being hacked and can quickly lose all their assets simply by forgetting the codes of their accounts.
Therefore, it becomes necessary to have a secure storage system for placing cryptocurrencies. The most viable option for this is to have a Crypto wallet.
The investor has the option to securely deposit the coins in a hot or cold wallet, depending on the exchange and size of the transfer.
Hot wallets are online wallets that are usually connected to an internet server. They are more convenient to use and less risky when hacking. Contrary to this, cold wallets are not connected to the internet. Instead, they act as external devices such as hard drives or USBs to store the codes.
- Strong Passwords:
An effective way for more security is to have strong passwords. Never reuse passwords that you might have used on any other login platform. Using a trusted password manager can be helpful in many ways.
- Avoid Mobile Phishing:
Investors usually manage their e-wallets through mobile apps. Many hackers are encouraged to use mobile phishing campaigns to steal the investor’s login credentials, primarily via text, social media, or third-party messages. Therefore, the investor needs to beware of these fraudulent hackers for protecting your digital currency.
Installing a crypto-miner malware protection
Another important way to secure your currency is by installing a Crypto miner malware protection or softwares with antiviruses. Moreover, the investor can install key protection and recovery seat protection apps and softwares.
Cryptocurrency is the future and it can eventually make you a millionaire. Follow these strategies to buy and save your crypto.
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