How Can You Buy Bitcoin Or Other Cryptocurrencies?

Cryptocurrency is bringing a revolution into the financial world and increasing popularity and awareness among people.

A cryptocurrency is a digital form of currency that only exists online that you use to make payments from one party to another; it is built on blockchain and is not backed by any government bank or institution. Blockchain is a peer-to-peer ledger that records transactions across a decentralized network. We realize that cryptocurrency will be the only source of exchange as we move closer to the metaverse. That is why we must keep up with crypto.

One cryptocurrency that you would have surely heard of is Bitcoin (BTC). Bitcoin is the oldest and longest-running cryptocurrency since its introduction in 2009 by a mysterious developer called Satoshi Nakamoto. Since 2009, all transactions have been irreversible and cannot get altered. The network might not know the owners of the transactions clearly, but the transactions are public and visible among all the networks. Bitcoin has been paving the way for all the other cryptocurrencies. All the cryptocurrencies that are not bitcoin are known as altcoins. There are over 18000 cryptocurrencies on the market as of March 2022. However, only a few are recognized and backed by investors.

Other than Bitcoin (BTC), the cryptocurrencies that are also popular among the investors like:

  • Ethereum (ETH)
  • Litecoin (LTC)
  • Cardona (ADA)
  • Polkadot (DOT)
  • Bitcoin Cash (BCH)
  • Stellar (XLM)
  • Doge coin (DOGE)
  • Binance Coin (BNB)
  • Tether (USDT)
  • Monero (XMR)

Today you can trade cryptocurrencies while on the go as there are applications that have made the process smooth and seamless. There are apps for beginners, large investors, crypto trading, earning interest, and trading with small stakes. Some of the apps are an all-rounder and can be used by anyone. You get high-level security while trading on these apps. Some of the apps do provide services with no commission or fees. You can start investing with an amount as low as hundred bucks.

These are super beginner friendly and with a simple user interface that makes trading and buying & selling hassle-free. You get real-time updates on the ups and downs of any currency. The portfolio and asset management are neat. The effortless conversion makes the actual-time conversion between crypto to crypto, crypto to an asset, crypto to fiat much quicker and easier.

How does one buy cryptocurrencies?

Among the 18000 cryptocurrencies, only a couple of cryptos are active. So to start investing in Bitcoin and other cryptos, you have to understand that cryptos are just like stocks but far more volatile due to the ups and downs in the cryptos.

  1. Open an account with a cryptocurrency exchange app.
  2. You will be required to fill out the bank details and complete the KYC. When you open an account, automatically, a crypto account will be created where you can transfer funds from the account to the crypto wallet.
  3. Now click on the exchange tab to see the cryptos listed on the app.
  4. Select the currency you want to buy and click on the buy tab.

And voila! Welcome to the crypto world.