When you buy crypto for the first time, you should not be enchanted by fabulous returns and big promises some projects make to “catch” investors. Amid successful projects, there are also fraudsters who only hunt for investors, promising the Earth.
We recommend running through every project you consider investing in, learning about its founders’ background, the core of the project, what benefits it brings, what problems it solves, etc. And only when you make sure the project is trustworthy buy its coins.
The next question the novice investor may wonder is, “Where is the best place to buy cryptocurrency?” and the answer is centralized crypto exchanges. As a rule, such exchanges are more reliable and propose a wide range of trading tools.
The best way to buy crypto is a WhitBIT exchange – a centralized platform with a full range of instruments for trading:
- trading bots
- margin trading
Besides, the WhiteBITcrypto platform has a WhiteBIT Blog that features a lot of interesting and valuable information on different topics:
- how to buy cryptocurrency
- how to pass KYC
- how to use trading bots
- how to create own token
These and many other topics are uncovered on the WhiteBIT Blog. Now that we found out where to buy cryptocurrency, let’s switch to trading tips for beginners.
Tips on how to buy crypto
The first thing you should consider before buying crypto is a crypto wallet. There are several ways to store your crypto assets – cold and hot wallets or “light” and “heavy” wallets.
Hot purses are wallets in your mobile application or on your PC. You install such an app, register the wallet and use it. Such wallets are suitable for everyday use if you trade often and need to conduct transactions quickly and conveniently.
If you want to buy crypto and hold it in a considerable amount, so-called long-term investments, you should better use offline storage – a “heavy” or “cold” wallet. This option implies utilizing a device that is not connected to the Internet, for example, a Ledger.
The next thing to pay attention to is the rate of the coin you want to buy. There is a great temptation to acquire it when it soars. Still, you better wait for the rate to correct or drop and only then buy it. The fact is that after every skyrocketing, the coin rate falls or goes through some correction. Buying the asset at a lower price is obviously more reasonable.
And the last tip – never spend your last money (do not sell a house or borrow money) on investments; otherwise, you will not be able to maintain a cool head and act reasonably.
Speaks from heart, always too passionate and driven by emotions. Spins the words with kindness & sharpness, intriguing your ever-inscrutable minds.