Things to Know About Buying Bitcoin and Cryptocurrency Online at Exchanges

Cryptocurrency such as Bitcoin is undoubtedly the latest rage in the investment sector. The main pull to join the crypto bubble is the possibility to offer much better ROI compared to other assets. It’s true that the crypto market is highly volatile which makes it risky. But according to some “experts”, Bitcoin holds the potential to rise up to $100,000 by the end of 2018. Other cryptocurrencies like Ripple or Ethereum too are estimated to have a higher future value than today. So, it’s only natural to plan to invest in Bitcoin or other digital currencies. The post below offers a brief on how to buy BTC or other cryptocurrencies online at exchanges.

Sign up with 3rd party wallet

crypto-walletsCrypto exchanges do offer you wallets to store your Bitcoin or other cryptocurrencies. But the best thing here is to sign up with a third party digital wallet. A 3rd party wallet will enable you to store cryptocoins from multiple exchanges which is not viable if you use the wallet of a particular exchange. Most importantly, a 3rd party wallet assures security. If your chosen exchange faces a crash, you won’t gain access to your coins if you store them in the exchange’s wallet. But if you store them in a 3rd party wallet, you can easily access them despite the status of your exchange.

Sign up with a crypto exchange

First, you should learn how to choose an exchange:

• Go for a highly reputable high volume crypto exchange
• Make sure the exchange is extremely particular about security and sincerely follows KYC (Know Your Customer) and AML (Anti Money Laundering) procedures
• Check the different range of cryptocurrencies offered by the exchange and proceed only if it stocks the particular coin/coins you want to buy
• Make sure the chosen exchange support your preferred payment method

Buying Bitcoin or other cryptocurrencies

Most of the exchanges offer tips on the amount of Bitcoin (or any other crypto coin) you can buy against a certain sum. However, as mentioned earlier, crypto market is immensely volatile. So, if you are a beginner in the zone, start small so that you don’t have to lose out on much if the price plummets. Experts usually advice to invest 1-2% of your total investment capital into cryptocurrencies. Finally, after you have decided on the amount, just click on “Buy” tab on your exchange and purchase the cryptocurrencies. After purchase, you will have to transfer the coins to your 3rd party wallet.