Security
How to Buy and Invest In Cryptocurrencies – Lesson for Beginners
As its name suggests, cryptocurrency, also called Bitcoins and Litecoin among others, is an encrypted and virtual currency.
But then, why use a virtual currency when you have access to your bank account over the Internet?
Indeed, you can make transfers, online payments – Anonymity is the first reason for the emergence of such a currency. You can avoid any risk of hacking on your current bank account. In addition, and this is where some will find cryptocurrency interesting, it escapes any banking system already in place. This means that nothing controls it and nobody controls it enough to regulate it. By using such a currency you get rid of the “dictate” of banking institutions that govern the banking world you know.
Where to Use Such a Currency? At What Cost?
Every day, the list of Internet sites and merchants allowing purchases in Bitcoins gets longer. Thus, you can easily buy leather goods, cosmetics, computer equipment, video games and even services. Bitcoins invades online payment. It does not depend on any regulatory authority or banking entity. You can therefore pay, be paid and make payments to a third party, even international, without paying any fees. It’s a reality that becomes more than attractive to many merchants who today must pay a percentage of their turnover to banks for each transaction made with a bank card.
How to Invest In Cryptocurrencies?
Among the myriad of options, it can be complicated to know where to buy cryptocurrencies. Some traders choose to buy them separately to store them in several portfolios. But a simpler option may be to invest in cryptocurrency via a broker, which means you do not have to worry about storing them.
How to Buy Cryptocurrencies Online
Step 1: Create an Account on a Broker Website
Visit the official broker website and provide your name, address, and other requested information.
Step 2: Deposit Your Money
Deposit your money and fill in the payment method you want to use.
Step 3: Purchase Cryptocurrencies
Several crypto-currencies are available including Bitcoin, Bitcoin Cash, Ethereum, Ripple and many others. Select the ones that interest you and then exchange them for the funds you have deposited.
Cryptocurrency Payment Methods
Various means of payment are available to invest in cryptocurrencies. To learn how to buy cryptocurrency cheaply, try the following options:
Bank Card (Credit and Debit Card)
To invest in cryptocurrencies, it is sometimes difficult to use your card. You will often need to buy Bitcoins first and then redeem them for the crypto-currencies that interest you. If however you go through different platforms, you can simply buy cryptocurrencies with your credit card.
Euro
The principle is the same when it comes to buying cryptocurrencies in France with euros. Larger altcoins (Ripple, Ethereum, etc.) are sometimes exchangeable for FIAT coins, but this is far from common. So prefer platforms that take into account these currencies.
Bitcoins
Many trading platforms do not take into account euros and bank payments, in favor of Bitcoin payments. If you do not have one yet, you will need to find platforms that accept credit / debit cards or bank transfers.
PayPal
Buying crypto-currencies with PayPal is possible, but it is often a private-to-individual exchange. But some major exchanges also take it into account. This method is still popular when you want to invest in cryptocurrency anonymously.
Skrill
You can purchase cryptocurrencies via Skrill with ease without worrying about scam.
Prepaid Card
Some prepaid cards allow you to get Bitcoin.
Other Ways to Invest In Cryptocurrencies
With Individuals
Investing in cryptocurrencies can be done through exchanges with other individuals. But on LocalBitcoins, or in real life, it can be difficult to find altcoins other than Bitcoin. To invest in crypto-currencies, it is better to go through trusted sites.
In Mining
Some cryptocurrencies can be mined. This is the case, for example, with Ethereum or Litecoin. But this process requires a large financial investment; it requires the purchase of specific machines, which cost a lot of electricity to operate. It is better to learn directly how to buy crypto-currencies and invest them in the long run.
By Receiving Them For Free
Some new currencies offer at the time of their creation free coins. It’s rare, but it’s a way to get coins without having to pay them. The problem with this method is that it does not guarantee income, because in the saturated world of cryptocurrency, many are doomed to failure. Avoid also registering on sites that promise you free Bitcoins: they are not always secure.
By Exchanging Them for Bitcoins
As mentioned above, the vast majority of altcoins can be exchanged for BTCs. But this requires a sufficient reserve of BTC, and especially is ready to tap into this reserve rather than invest in the long term.
Top 10 Tips for Making Money with Crypto-Currencies
- Take advantage of the temporary decline in markets to buy
- Watch for Bitcoin trends, as altcoins often follow it
- Do not be afraid to sell altcoins to invest in other currencies
- But do not miss out on making long-term investments
- Have a varied portfolio: do not invest everything in a single currency
- Make the choice to invest in crypto-currencies by exchanging them for BTC cheaply
- Check the influence factors regularly to plan your purchases
- Take an interest in the Bitcoin Forks, which are promising
- Store your parts offline, or use a regulated broker
- Do not panic and be aware of market volatility
Best Site to Buy and Invest In Crypto-Currencies
- eToro
eToro takes the lead when it comes to investing in cryptocurrencies. It’s simple interface and tutorials allow you to quickly learn how to buy crypto-currencies and its social option allows you to model its strategy on those of the most successful traders. This is a much regulated platform, so it is the best option for your cryptocurrency purchases.
Here are some benefits of using eToro:
- Social trading and imitation of strategies
- Many means of payment
- Does not require multiple wallets
- Intuitive interface
- French speaking customer service
- Binance
Binance is a popular exchange site for traders. It offers two possibilities: a “normal” account and an “advanced” account. But its interface can be quite illegible if we do not know the fundamentals in cryptocurrencies. If you do not know how to buy crypto-currencies, it can be too complex.
Here are some benefits of using Binance:
- Large catalog of crypto-currencies
- Low exchange fees
- Positive reputation with several million traders
- Coinbase
The great simplicity of Coinbase makes it a favorite for beginners. But you still need to get a wallet and install it on your PC to get your corners. And checking your account may take a little while.
Here are some benefits of using Coinbase:
- Simple to start
- Clear interface
- LocalBitcoins
The popular success of Bitcoin makes LocalBitcoins a platform that has managed to pull it off. The advantage is certain anonymity, but this is done at the cost of a lack of security. The parts that are exchanged (mainly BTC) are transferred between individuals, so there are fewer guarantees.
Here are some benefits of using LocalBitcoins:
- Anonymous purchase
- Low fees
- Changelly
The streamlined interface of Changelly makes it easy to trade. Its verification process is also relatively fast. Where this broker is fishing, it is on the side of fees that can be higher than average.
Here are some benefits of using Changelly:
- CBs are accepted
- Purified interface
- Bitfinex
Bitfinex is mainly used in the United States because it integrates the USD well. It enjoys a good reputation but still struggling to seduce the European market.
Here are some benefits of using Bitfinex:
- Privileged reputation with traders
- Quick updates
What Is Cloud Mining Concept?
Originally, bitcoin mining was done on the processors of individual computers. Nowadays, having enough processing power, this is done in large data centers.
But, not everyone can have a large data center, which is why recently a new type of mining has started to gain popularity, cloud mining.
Cloud mining allows users, instead of using their own machines, to purchase the extraction power of hardware placed in remote data centers. All bitcoin mining is done in the cloud, without any hassle, such as electricity, hosting issues, or installation and maintenance issues.
How to Start Mining With Genesis Mining?
There are many cloud mining sites, but the most efficient and effective website is Genesis Mining.
It notably passed the “bitcoin scam test “which makes it a reliable site.
The principle on which Genesis Mining works on is relatively simple, you buy the power of mining and you receive every day the profits mined directly on your bitcoin wallet.
Here’s How To Sign Up:
1- Go to www.genesis-mining.com
2- Enter your contact details + email
3- Confirm your email
4- Start to mine!
5- Remember to indicate the address of your Wallet to recover your winnings (My Account> Settings> Wallets)
You can invest minimum $ 30 and start earning bitcoin every day! Remember, you will not earn much every day and it will take you some time to repay your investment, but if you opt for the “lifetime” mining option, once your investment is repaid you will continue to earn every day.
One of the best feature of Genesis Mining is that the rewards are directly transferred to the Coinbase account, it means that even if the site closes, the money is safe and already in possession.
Cryptocurrencies That Can Be Mined With Genesis Mining:
You can mine a lot of crypto coins on Genesis Mining. Here are some:
Bitcoin (BTC), Unobtanium (UNO), BitcoinDark (BTCD), Dash (DASH), Litecoin (LTC), Dogecoin (DOGE), Zetacoin (ZET) , Zcash (ZEC), Etherem (ETH), Startcoin (START), Peercoin (PPC), MemoryCoin (MMC), Monero (XMR) and Namecoin (NMC).
How to Manage Your CryptoCurrency with AWS Mining?
AWS Mining resells Bitcoin extraction contracts in the cloud mining model. For members, this is a simple and safe way to buy mining energy without having to manage complex hardware and software configurations.
It offers cryptocurrency mining hosting services and a variety of mining solutions for both large and small investors. The combination of the algorithmic trading structure, infrastructure and patented real-time management software makes AWS Mining a market leader.
There Are 5 Types Of Contracts In AWS Mining:
- 1 / 0.1 CMP Contract costs 40 USD
- 2/1 CMP Contract costs 400 USD
- 3/3 CMP Contract costs 1200 USD
- 4/5 CMP Contract costs 2000 USD
- 5/10 CMP Contract costs 4000 USD
Currently the only payment solution is Crypto Wallet.
Sponsorship:
The sponsorship rate is 10%
Payment Info:
Payments are generated daily. Withdrawals can be made daily and must be a minimum of $ 30. This minimum payment is set to prevent customers from paying excessive fees to receive small payments in their digital portfolios.
Conclusion
Although we can more and more talk about it, but cryptocurrency remains a concept still unclear for many consumers. This encrypted and decentralized virtual currency takes a little more value each day and gives birth to a promising alternative economy. From Bitcoin, the first and best known cryptocurrency, to Ethereum, through the Ripple, the Litecoin or the Monero, digital currencies may well invade our virtual wallets in the years to come.