How to buy cryptocurrency and where to buy it? This question is perhaps one of the most asked in 2021. So why? In fact, one of the answers to this question is Covid-19. The virus that began to infect many countries in March 2020 has also affected global financial markets. Many stocks have plummeted. Of course, bitcoin also got its share of this fall and fell to the $3,500 level. However, this decline was temporary. Bitcoin caught the attention of institutional investors during the economic crisis and started to rise!
After attracting this attention, bitcoin, breaking the record on top of the record, hit the $65,000 mark. Of course, other cryptocurrencies also got their share of this growth. There are also cryptocurrencies whose value has increased 100 times in the last 1 year.
Since we have given the information “Where and how to buy crypto money?” Let’s find the answer to your question together!
Where to buy cryptocurrency?
“How to get cryptocurrency?” The first thing we need to know before asking is, of course, where to buy it. At this point, let’s talk about classical financial markets. We often use various brokerage services when buying and selling shares. Here we use a cryptocurrency exchange when buying cryptocurrency. In other words, one of the answers to the question of where to buy crypto money is crypto money exchanges.
Of course, apart from exchanges, there are different ways. OTC and P2P are some of the names given to these methods. OTC stands for Over The Counter and P2P stands for Peer to Peer.
Let’s take a look at OTC first. OTC purchases are not controlled by any exchange. These exchanges take place directly between the two parties.
To explain peer-to-peer communication, it can be explained as a form of information or asset transfer that does not mention the existence of any central authority. Here the word “coeval” corresponds to the word “wife”. In other words, peer-to-peer transfers are called p2p. For example, Satoshi Nakamoto, the team or person behind bitcoin, used the name “peer-to-peer electronic cash system” when promoting bitcoin. That is a system of electronic cash between spouses.
As a result, there are many ways to buy bitcoin. However, perhaps the easiest way for beginners to register on the exchange. For this reason, in our article “How to buy bitcoin and crypto money using a cryptocurrency exchange?” We will answer the question.
We; “How to buy cryptocurrency?” In our article, we will continue with Huobi, one of the largest stock exchanges in the world.
If you are talking about how to choose a reliable cryptocurrency exchange; “How to choose a reliable bitcoin and cryptocurrency exchange?” You can read our article.
What should be considered when buying cryptocurrency?
What should be considered when conducting this study? First of all, the price of crypto money is the most important thing to pay attention to. But let me warn you at this stage! Not every cryptocurrency is worth a thousand dollars, two thousand dollars or 10 thousand dollars. For example, you might see prices like 0.00009. As you can see, it’s not even a dollar, not even 1% of a dollar. Inexperienced investors who have just entered the market think that crypto money with a lower price can bring more profit. However, this is not always possible under all circumstances.
The situation we want to explain by saying that the price is actually the movement of the cryptocurrency. “How has cryptocurrency moved over the last 1 year, last 6 months, 1 week, 1 month?” This question determines the price of the cryptocurrency. For example; some cryptocurrencies triple or even quadruple their value in a day. However, at this stage it is also important to have experience and take risks. To do this, it is useful to know technical analysis. The idea that people usually stop at is to buy when price is at support and sell when it is at resistance. But rest assured, investment forms and strategies consist of thousands of different methods. For this reason, it is very important to do your own research before making an investment.
In the previous section, we talked about the ability to make short-term profits. On the other hand, you may want to think about bitcoin and other cryptocurrencies in the long term rather than on a daily or weekly basis. So, be a direct investor and set a goal for yourself. As those who have been on the market for a long time know, cryptocurrencies such as Bitcoin, Ethereum, XRP are in the portfolios of many investors in the medium and long term. It is useful to make this distinction well.
One of the things you should pay attention to when buying cryptocurrencies is to do your research well. So what does this study mean? There are over 5,000 cryptocurrencies on the market. All these cryptocurrencies are very important, it is wrong to think that they will determine the future. Because most of it is useless.
The first person to create cryptocurrencies is, of course, Bitcoin. However, the fact that Bitcoin was first did not lead to a large audience following it. First of all, Bitcoin technology was very important. We will not be mistaken if we say that, in addition to technology, Bitcoin brought a different perspective to the economy. Because Bitcoin itself eliminates the risk of inflation. On the other hand, transparency is also important. All over the world, transactions are viewed publicly, but anonymously. We can say that Ethereum has brought a different perspective to sectors like banking and insurance thanks to the smart contracts it offers to the world.
This is where the importance of the project comes into play. What will the investment vehicle you make in the long or medium term offer to the world? Who in the team is behind this, is this team reliable? Are they involved in any way in the world of cryptocurrencies? These are the questions you should be asking for your long and medium term investments.
Step one: registration on the cryptocurrency exchange
As we said above, there are cryptocurrency exchanges. Having chosen one of these cryptocurrency exchanges, it is important to register. In our article, we have explained the buying process on Huobi exchange. To register on Huobi, you need to follow a few steps. You can click here to register on Huobi and enjoy the commission discount. After creating a strong password, you need to share your credentials with the exchange.
Authentication is one of the important aspects of registering on a crypto exchange. Already recently, many crypto exchanges have popularized the process of identity verification, while official institutions have also issued a decree that exchanges request this information from users.
To determine that a member registered on the Exchange has provided correct information; Correct matching of identification information with a selfie submitted to the exchange is also important to prevent identity theft.
If there is a significant change in your stock market account, these instances will be identified and your account will be kept secure.
On the other hand, besides sharing your identity information, methods such as 2FA and SMS verification are also very important for the security of your account. Because this is an important point for keeping your account safe and identifying risky transactions.
Since the decree was issued in recent months, exchanges have become required to request this information from their members.
Second step: trading screen
The image you see above is from the Huobi trading screen. After registering with Huobi, you can download the mobile app to your phone. Then, by clicking the Buy-Sell button at the bottom of the page and in the middle, you will be taken to a screen that will allow you to buy cryptocurrency. This screen allows you to both buy and sell cryptocurrencies.
This content has been written for informational purposes only. The comments and statements contained in the content do not belong to the scope of investment advice. It should not be forgotten that the service of investment consulting is individual. The information in the content may not reflect your financial situation. For this reason, please be aware that the information contained in the content will not contain sufficient information to justify your investment decision. ListList and its authors are not liable for any damages that may result from your future investments or transactions.
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