So, you have finally made up your mind to invest in cryptocurrency. Excellent decision!
You’d probably be some of the few who’d be basking in tremendous profits in the long run.
Let’s corroborate this from someone who has already made millions with crypto. Carl Runefelt!
Carl Runefelt is now a global crypto leader and crypto enthusiast who regularly appears on his YouTube channel, The Moon. He has made massive wealth with his timely investments in cryptocurrencies.
He says, “Keep accumulating all the time within your budget essentially, and I think the big goal that is, of course, the cool thing is to own one Bitcoin because one Bitcoin is actually now quite expensive, but soon it is going to be absolutely unobtainable for a normal person.”
Like we said, a perfect time to invest and accumulate cryptocurrency while you still can. But back to our original discussion; what are the best ways to buy and sell cryptocurrency?
It turns out that buying crypto is relatively easy. You can easily purchase many cryptocurrencies like Bitcoin, Ethereum, Solana, etc. You have the liberty to pay for crypto in a number of ways. Some of the easiest ways are:
- Paying through your debit or credit card
- Paying through a payment system
- Paying through your phone
- Pay in cash
The commission on the above payment methods varies depending on the size of the transaction, the mode of payment and/or the exchange you are dealing with.
A little tip along the way: One of the best times to buy cryptocurrency is when the market value sinks. This is your time to jump on the bandwagon because the price will eventually shoot up.
Carl Runefelt says, “Bitcoin and for all coins, I like to accumulate at lower levels. So, right now when everything is silent and chilled and going down, I am happily accumulating in peace. Every single altcoin out there has been going down like crazy in the last three months, and in my opinion that is a fantastic opportunity to pick up some cheap prices because, in the next bull run, you will be the winner if you bought when everyone else was not buying.”
You’ll thank us for this tip later!
So to buy cryptocurrency, you’ll approach a crypto exchange first.
How to Buy Crypto from an Exchange?
Firstly, do a little research on selecting a reliable exchanger. You can go through its online reviews and check if it has an SSL Certificate or not. Some exchangers offer more discounts than others.
Buying from an exchanger is the most profitable and easiest way of buying cryptocurrencies for beginners. But there are some risks that come with dealing with exchangers.
Remember all those breaking news that you hear about exchanges being hacked. That’s what we are talking about! Hackers are always on the lookout to hack exchanges. The Ronin Network crypto heist in 2022 was the most expensive in history. Hackers gobbled around 614 million dollars! That’s one heck of an amount!
But there is a prevalent misconception that cryptocurrency can itself get stolen. That cannot be further from the truth. These are exchanges that are vulnerable, not the other way around.
Carl Runefelt says in this regard, “I know that for a fact that you cannot hack Bitcoin. You can hack exchanges which is something different but not Bitcoin. It’s important to understand that you can hack YouTube, you can hack banks, or literally any internet company out there but you cannot hack Bitcoin. This is because the blockchain is very robust.”
Buying Crypto Through an App
Smartphone applications do come in handy at times. You can purchase crypto with an app too. CoinPaper, Mycelium Wallet, 60cek.org, and WebMoney are some of the most popular ones. The Binance exchange also has its own application.
You should be cautious in choosing such applications lest you stumble upon fraudulent services. Check out the online reviews and ratings and the legality of the application.
Some advantages of buying cryptocurrency through an app are:
- Fast execution
- Convenience and Accessibility
- Can use popular payment methods
On the flip side, you have to pay a commission to the app. Also, you may find the purchase rate less profitable than other ways.
We wish you best of luck for your cryptocurrency investments.
