Now that the cryptocurrency market is living through a hard time, many investors try to buy digital coins when all the asset prices drop. They do it intentionally for the long term to sell them and gain income when the market trend changes.
This article will be helpful if you want to join this market when the prices drop but don’t know where to buy crypto.
The best ways to buy cryptocurrency
There are several ways to purchase digital assets:
- Cryptocurrency exchange of a centralized type
- Decentralized platforms
- Simple exchanges
We will talk about centralized exchanges for they are the safest among others. Such platforms operate officially and comply with all the necessary regulations. When you entrust your investments to a centralized exchange, you share the responsibility for its security.
Platforms of the centralized type implement many efficient mechanisms to ensure the safety of users’ assets. For example, the WhiteBIT exchange holds 96% of clients’ funds offline on cold wallets. It means they are unreachable to hackers.
Also, crypto exchanges of the centralized type offer users the option to configure two-factor authentication, where you link your account to your mobile number and receive a confirmation message when trying to enter time after time. It does not allow third-parties to enter your account.
Another advantage of centralized services is advanced tools for trading and options for passive income. Large platforms like well-known Binance, Coinbase, and WhiteBIT offer a variety of instruments you can successfully use in your trading strategy. It may be complicated futures trading and margin, usual spot trading, staking, etc.
If you are a beginner investor, you probably want to practice working with crypto before putting your money in exchange. It is a normal desire, for everyone wants to feel more confident before taking a risk in trading. And again, centralized platforms are the best option for you. First, they provide educational material and even videos showing how to trade; secondly, some platforms allow you to practice trading on a demo account.
Before investing your funds, make sure you read the rules and conditions of exchange.