Buying cryptocurrencies
If you are a beginner, you are certainly asking yourself the question: how to buy cryptocurrencies? Indeed, it is not easy to understand the process to follow and it is better to be well informed to avoid falling into a scam.
That’s why we are going to guide you in your first steps in the world of cryptos and present you how to buy crypto currencies. Specifically, you will have to follow the few steps listed below:
- Choose the platform to buy your cryptos;
- Register on the platform;
- Confirm your identity;
- Sécuriser son compte ;
- Deposit of funds;
- Buy a crypto ;
- Place your cryptos in a safe place.
Choose a platform to buy cryptos
To buy cryptocurrencies, the first step will be to choose a platform offering this service. However, these have multiplied in recent years and it is becoming increasingly difficult to make a choice and know who to trust.
Don’t panic, we offer a tutorial to buy your crypto-currencies via one of the three platforms offered below:
- Crypto.com
- Binance
- ZenGo.
Read More about Crypto Investment
Crypto.com : the trusted broker
Crypto.com is an online crypto-currency broker that allows investors to trade on multiple trading platforms. It also offers a variety of other services, such as buying and selling crypto-currency, high frequency trading, proprietary trading, asset management and secure storage of crypto-currencies.
Crypto.com is committed to providing a reliable and secure service to its customers and to providing quality trading tools.
It also offers competitive rates and quality customer support services. Crypto.com also offers market information and analysis to help its customers make informed decisions.
There are several ways to deposit funds at Crypto.com, including:
- Using a debit or credit card
- Using an online bank
- Using a bank transfer
- Using a mobile wallet
- Using digital coins or tokens -Using crypto currency transfers.
Binance: the world’s first crypto platform
One of the best alternatives for buying cryptocurrencies is Binance. Also regulated through registration as a PSAN, it is also known for its security and reliability.
Binance is the world’s leading crypto-currency platform and is the leading site for buying and trading crypto-currencies. There are several hundred available. Note that if a crypto is not available to buy directly in euros, you can first buy USDT or BUSD (Binance’s stablecoin) and then exchange it for another asset.
Besides buying crypto-currencies, Binance has many other features: staking, the ability to connect trading bots, NFTs, etc. Binance’s interface is a bit more complex and fleshed out, so it is suitable for advanced users.
ZenGo: the ultra-secure platform
The ZenGo mobile app is a platform for buying, selling, storing and staking digital assets as well as connecting to Web 3.0 and decentralized applications. Approximately 80 cryptocurrencies are available, including Bitcoin, Ether, Dogecoin as well as USD Coin (USDC) and Tether (USDT) stablecoins.
ZenGo’s added value is its ultra-secure, institutional-grade wallet based on multi-party computing (MPC) technology. Currently, it is one of the most powerful tools to protect your crypto currencies.
As a bonus, you can also generate returns with your cryptos and use the wallet to interact with Web3 and decentralized finance (DeFi). To create your wallet on ZenGo, click the button below:
Register on the platform
When you first visit the platform you have chosen, you will be asked to create an account. To do this, you will need to fill in a username, email address and password. Most of the time, you can also do this by connecting your Google or Facebook account.
You will also be asked to answer a few questions or take a test to verify that you are not a robot. Next, you’ll need to verify your identity. You may wonder why you have to declare and prove your identity to a cryptocurrency buying site?
In order to comply with market regulators, most platforms have implemented an identity verification system called “Know Your Customer” (KYC). Thus, to access the services of these sites, it is now mandatory to validate these steps.
To do this, you will simply need to upload a copy of your ID, passport or ID card. Binance adds an extra layer of security by asking you to take a picture of yourself in order to scan your face and make sure you are the same person as on the ID.
Buy a crypto
Once your funds are deposited on your platform, you can now move on to the part you’re interested in: buying cryptocurrency. The Binance platform is the one that will offer you the widest variety of choices, although its interface may seem a bit complex to get to grips with.
To proceed with your purchase, you will need to go to the trading interface and then search for the crypto-currency you wish to buy, for example Bitcoin (BTC).
This may be available as a pair against the euro, or only stablecoin. If the latter, exchange your euros for Tether (USDT) or BUSD beforehand.Once your funds are deposited on your platform, you can now move on to the part you’re interested in: buying cryptocurrency.
The Binance platform is the one that will offer you the widest variety of choices, although its interface may seem a bit complex to get to grips with.To proceed with your purchase, you will need to go to the trading interface and then search for the crypto-currency you wish to buy, for example Bitcoin (BTC). This may be available as a pair against the euro, or only stablecoin. If the latter, exchange your euros for Tether (USDT) or BUSD beforehand.
Once you’ve chosen the asset, set the amount you want to invest. You’ll find that eToro will tell you the fees you’ll have to pay, the percentage of the amount to your capital and much more. That’s it, you’ve got your first cryptos.
At this point, you are probably asking yourself a question that every investor in the crypto market is asking: which crypto should you buy? The answer can only come from you, and to take it, you need to research the different assets thoroughly to understand the plans behind them.
At the time of writing, there are over 10,000 different crypto-currencies. It is therefore complicated to make a choice among all of them. However, keep in mind that the higher the capitalization of crypto-currencies, the less likely they are to disappear overnight, although this is no guarantee of reliability.
Securing your cryptos
Now, you hold cryptocurrencies in your platform’s wallet. However, it is not advisable to keep them on it because it is possible that the platform gets hacked or goes into insolvency. In this case, you might not be able to access your cryptos anymore.
To solve this problem, there are secure storage solutions that allow you to take back control of your cryptocurrencies. These are called non-custodial wallets, or self-hosted. They can be physical, like Ledger keys, or digital, like MetaMask.
FAQ
What is buying cryptocurrencies?
Cryptocurrency buying is the buying and selling of virtual currencies like Bitcoin or Ethereum. These currencies are stored on a digital wallet and can be used to make transactions online.
What are the benefits of buying cryptocurrencies?
The benefits of buying cryptocurrencies include fast transactions, relatively low transaction fees, increased security and privacy.
What are the risks associated with buying cryptocurrencies?
The main risks associated with buying cryptocurrencies are price volatility, risk of fraud, and risk of losing funds.
What are the ways to buy cryptocurrencies?
There are different ways to buy cryptocurrencies. The main methods are cryptocurrency exchanges, buying and selling platforms and online brokers.
How can I store cryptocurrencies?
Cryptocurrencies can be stored on a digital wallet, which is a secure application for storing and using cryptocurrencies. There are different types of digital wallets available, such as hardware wallets, software wallets and online wallets.