Experts suggest Bitcoin or Ethereum are the ideal cryptos to start with if you’re new to crypto investing. Here are some of the initial measures you should take when you’re ready to invest:
- Select an exchange: You’ll acquire your cryptocurrency on a crypto exchange, which is an online trading platform. Security, fees, and available coins are some of the details to consider.
- Make a deposit into your account: You’ll need to deposit US money into your crypto exchange account, just as you would with a standard investment account.
- Make a purchase: This varies every exchange, but you’ll essentially be exchanging your money for the cryptocurrency you choose.
- Maintain a secure storage environment: Choose whether you want to keep your coins in your exchange account or transfer them to a hot or cold wallet of your own.
Here are steps that will enable you to trade in these digital currencies.
- Step 1: Select Right Crypto Exchange. …
- Step 2: Open a Trading Account. …
- Step 3: Fund Your Account. …
- Step 4: Buying and Investing in Cryptocurrency.
- Step 5: Store your Cryptocurrency.
- Step 6: Choose a Strategy.