Methods of investing in cryptocurrency
The cryptocurrency market has been actively developing lately, more and more people want to invest in digital currency, but this has pitfalls.
At the moment, there are several ways to purchase cryptocurrency, store money on a cryptocurrency wallet, as well as buy cryptocurrencies through exchanges, since there are many of them now, this same method is the simplest and most profitable.
This raises the question: On which exchange to buy bitcoin? There are a lot of exchanges, here is a list of the best of them: Binance, Huobi, Whitebit, Exmo, Kuna.
Let’s look at the example of the most popular cryptocurrency, bitcoin.
How to buy bitcoin on the exchange?
- We create a user account on the exchange,
- Next, you should go through authorization,
- We replenish the account on the exchange,
- We buy bitcoin on the exchange.
Depending on the exchange, an investor can buy bitcoin for both rubles and dollars.
How do cryptocurrency exchanges work?
The operation of cryptocurrency exchanges is extremely simple. The issuer of the cryptocurrency creates an order to sell the conditional bitcoin, and the buyer to buy. These applications enter the so-called statement or order book, where information will be recorded about which transaction and for what amount the transaction was made, as well as who exactly wants to complete it.
When the trading interests of buyers and sellers coincide, that is, when the price of the conditional bitcoin coincides with the buyer’s expectations. After that, the orders cover each other and they disappear from the order book. The transaction is considered completed if the cryptocurrency is credited to the buyer’s account, and fiat money is credited to the seller’s account.
All exchanges work according to this principle, from stock exchanges to cryptocurrencies. This is the most optimal and fastest method of work of exchanges, which has proven itself for a long time.
GUIDE: Which exchange can you buy profitably bitcoin on?
As mentioned earlier, there are a lot of exchanges for buying cryptocurrencies, in particular, there are a lot of bitcoin, they all have different commissions for the purchase, prices for the tariff.
And because of this, the question arises, on which cryptocurrency exchange you can buy bitcoin profitably.
The best exchange where you can buy bitcoin profitably is Binance, this exchange has been on the market for a long time and successfully operates in many countries of the world. In just a year after its opening, it became the most popular crypto-exchange in 2018.
But you will only be able to buy bitcoin on the exchange for dollars; you will not be able to buy bitcoin for rubles.
This exchange has the best buying conditions, low purchase fees, which makes investing through Binance profitable.
You won’t be able to buy bitcoins for rubles on the Binance exchange, but you can buy dollars for rubles on it, and bitcoins for dollars.
Also, to buy bitcoins for rubles, an exchange may not be needed, there are many cryptocurrency exchangers. And bitcoins from the exchanger can be transferred to your wallet.
What is it worth being afraid of?
When buying bitcoin, you should be afraid that the user’s wallet may be hacked or the password from the personal account will be forgotten.
To do this, you need to follow the simple rules of account security, you need to create a complex password that no one except you will know, and it is also better to store the password in several places so that in case of emergency you always have access to your assets.
And in order not to get caught scammers when buying bitcoins on the exchange, it is best to use trusted exchanges and exchangers, as well as the help of professionals – Amir Capital.
Checking reviews on independent resources is a mandatory thing, this will reduce the likelihood of deceiving users, which will allow the investor to buy bitcoin on the exchange without risks.