Cryptocurrency changed people’s mindset towards the digital world. There is a huge scope for paperless money; hence Crypto is believed to be a ‘Future Money’ Worldwide. Technology has changed how people think, work and play.
The below guide helps you know about the most trending Crypto this year and How to Buy Cryptocurrency? Suppose your search about the same led you here; please stay tuned until the end because we have covered all the crucial information.
What is Cryptocurrency?
Cryptocurrency is virtual money that is used to buy goods and services. The huge data is recorded and handled by a digital ledger known as cryptography to secure transactions. It works on a technology called a blockchain.
Bitcoin is the first-ever digital currency released in 2009, which is still a top and trending virtual money.
Why is It Popular?
- Crypto is so popular because its value is rising day by day. And it is the best long-term investment option if you choose the right place.
- Decentralized processing and recording system are more secure than conventional money.
- As per one market research site, there are more than 6000 various cryptos traded publicly Worldwide. You can imagine Cryptocurrency’s popularity by its number.
- The total value of all Cryptocurrency as of April 13, 2021, was approx. $2.2 trillion.
Top Cryptos that are Popular Globally
The data recorded here below is taken from crypto data and analytics providing site:
- Bitcoin
- Ethereum
- XRP
- Tether
- Cardano
- Polkadot
- Uniswap
- Stellar
- Lite coin
- Binance coin
Positive Aspects of Crypto Currency
- It emerged as a promise in making fund transfer easier between two parties.
- There is no need for a trusted third party like a credit card company or bank.
- These transfers are instead secured by the usage of high technology.
- In a cryptocurrency network, a user’s digital wallet has a public key; however, the private key is known only to the holder and is used for secure transactions.
- Fund transferring process is finished with low processing fees.
Negative Aspects of Crypto Currency
- Some cryptocurrencies are more private than others.
- There are scammers in the digital world.
- One needs to strategically invest in any Crypto.
- The value keeps fluctuating; there is a high chance of gaining huge and losing simultaneously.
Factors You Need To Consider Before Buying any Crypto
Trading the Crypto is quite simple if you understand the process clearly. These are the factors you need to consider before buying any crypto:
- It is mandatory to check your country’s regulations before knowing how and where to buy any crypto.
- Every trading platform costs some fees, some are expensive, and a few are cheap. So check the fee structure charged before creating your account, which saves you lots of time.
- Not every Crypto is for sale, so check whether the virtual currency you want to buy is selling or not.
- Payment methods to buy any crypto are different, like online bank transfer and credit card, so choose the payment method you are comfortable with.
- Most importantly, there is a general rule in digital currency only invest how much you can afford to lose.
How to Buy Cryptocurrency?
- One can buy Crypto from websites called cryptocurrency exchanges that exchange any local currency for Crypto. Various websites serve a purpose that are easy and quick to use. Hence, exchanges are one of the best ways to buy Crypto. Coinmama, OkCoin, Gemini, Bitstamp, Bitrush are some of the popular crypto exchange sources worldwide.
- You can use any payment method to buy Crypto, including bank transfer, credit cards, cash, or PayPal.
- One can buy Crypto if they possess a voucher card that looks similar to a normal gift card. Redeem the card for small purchases.
- Some popular crypto can be purchased at dedicated ATMs with cash. One needs to install an online wallet to purchase Crypto.
- To buy any crypto, you need to have a “Wallet” that holds your currency safely.
Top Trading and Exchange Platforms 2021
As per our research, the following are the trending exchange and trading platforms for any crypto. There are also many other platforms you can trade on and you need to search for them online and go according to your convenience:
- CoinBase
- PrimeXBT
- Paybis
- Binance
- Cex.io
- Changelly
- Club Swan
- Switchere
- CoinSmart
- BitCoin IRA
- Coinmama
- BitFlyer
- Poloniex
- Overbit
- Ku Coin
How to Keep Yourself in the Safe Zone while Trading Crypto?
There is news that often came to light that people have loosed money investing in Crypto. Yes, this is true, there were scammers in the digital world, and it may continue to happen.
Below are some ways mentioned you can keep yourself in a safe zone:
- Double-check who owns the company, an old site with transparent details and positive customer reviews is always good to go.
- If you find any major investor in Crypto, then it is a good sign; go for it.
- Please don’t rush to any posts on social media that start to invest; there may be bots working on it.
- Research thoroughly online about the Crypto like its current price, max supply, circulating supply, and many major aspects before believing any random currency.
Even after so much research, the Crypto looks legit and one cannot take it for granted that they will be succeeded, as anything can happen in the finance world. For more details about Cryptocurrency, you may follow the link here.
The Bottom Line
It is advised by the finance gurus globally that invest only what you can afford to lose. However, because nobody is sure about the market value, it may bring you back huge returns or wash out your invested money, so we recommend unless and until you are ready to accept both profit and loss equally, please don’t start or go with the small investment.
How to Buy Cryptocurrency? Please share your words with us in the comment section below. We would love to hear from you. Please stay tuned with us for more details and information. And, if you are looking for the best trading apps, you may have the access to the guide here.