Crypto buying and selling is a way to generate income called trading. Due to the high volatility of digital assets, people manage to capitalize even from small initial investments. However, the risk of losing everything is also high. What to look for when buying cryptocurrency? Here are some essential things:
- Keep on learning
- Keep abreast of the latest news and updates in the industry
- Remember about risks
- Do not invest your last funds in crypto
- Manage risks
- Pick a safe platform for trading
- Choose a suitable and secure wallet to store your coins.
Where Can You Buy Cryptocurrency?
To buy, sell, and exchange crypto at live cryptocurrency prices, choose one of the most trusted crypto exchanges, for example, Binance or WhiteBIT. They are official and regulated platforms that provide maximum safety for clients and their funds.
WhiteBIT offers a variety of trading instruments and an intuitive interface. You may also try a demo account to understand how the tools work and practice your trade strategy. WhiteBIT has a standalone educational resource - the WhiteBIT blog that regularly rolls out interesting news and updates from the industry as well as manuals on trading.
Another question is where to store crypto. To work with digital assets, you need to have a place to store them. For that purpose, people use crypto wallets. There are two main types:
- hot storage;
- cold storage.
A cold wallet is a way to store crypto coins with no connection to the Internet. It may be a ledger that is connected to a computer when needed. Most of the time, it is offline.
A hot wallet is a way to keep your coins online, usually connected with crypto exchanges. For example, when you register on the WhiteBIT platform, you automatically gain your crypto wallet online, which you may use for transactions and trading at any time. It is convenient if you aim to conduct crypto buying and selling actions daily.
Considerations When Choosing a Crypto Exchange
When you decide where to buy cryptocurrency and choose a crypto exchange, it's important to consider the following factors:
- Safety: Ensure that you're using a safe and reliable exchange. Don't be tempted by small exchanges that offer attractive discounts and low fees. Choose a large exchange with robust security measures in place. Check the platform's licenses and security compliance.
- Trading Tools: Consider the range of trading tools the platform offers. If you require advanced instruments like margin and futures trading, Binance and WhiteBIT are top cryptocurrency trading platforms in the market.
- User Reviews: Read user reviews online to determine the difficulties users have faced when trading on the platform. Look out for instances of hacker attacks.
- Fiat-Crypto Pairs: Check whether the exchange offers the possibility to trade fiat-crypto pairs and whether users can cash out funds directly to their bank cards.
- Community and Support: Check out the platform's community and social networks. Ensure that customer support is responsive and reliable, and that you'll get assistance if you encounter any issues.
Consideration of these factors is important for successful crypto trading activity.
