The cryptocurrency craze does not seem to settle down for the past two years as a lot of people are even resorting to mortgaging their homes to invest and pour money into the cryptocurrency industry.
From its starting worth of $1,000-dollars, the price of a cryptocurrency asset for starters is now worth $8,000-dollars and could rise up to $14,000-dollars per coin at the end of the year despite being involved in numerous setbacks and controversies last year, perhaps, you might be thinking right now to invest in cryptocurrency but you have second thoughts and doubts because you do not know how to purchase one.
In this article, let me show you how to buy cryptocurrency and how to buy ripple in a step-by-step guide that will help you in your cryptocurrency investment journey.
Just to set things clear, this article does not intend to promote or make any endorsement for any cryptocurrency brands; it is just a step-by-step guide for beginners who want to invest in this trend that is taking over the financial industry.
Just want to set your expectations clearly, the cryptocurrency market is untested and has not proven any digital assets which are all relatively young in the world of finance which means its stock is very unpredictable and very volatile.
So how is bitcoin made or generated? Bitcoin, the currency term used in cryptocurrency is created by a network as a rewards system for the “mining” activity which is a computational work in which a blockchain-that is specifically a public ledger-transactions that are fully verified.
So how to buy cryptocurrency? The step-by-step guide in buying cryptocurrency and selling it has been converted into a simpler manner; thanks to the technology brought by our smartphones but first you should learn these five important factors that you have to consider before pouring your money to cryptocurrency.
First, you should determine the location, payment method, types of cryptocurrency, cost of fees, and affordability.
- LOCATION- You should look first in your area which company or organization that are selling cryptocurrency assets and you should first check out if it is following your country’s laws and regulations. You can Google cryptocurrency brands that are near you and set an appointment with the dealer at your most convenient time and place. It’s that simple.
- PAYMENT METHOD- When it comes to payment method, buying cryptocurrency can be processed via credit card, bank transfer and even by cash. There are tons of websites that accept different payment processes and it’s your freedom of choice which of this website suits your needs.
- TYPES OF CRYPTOCURRENCY- Sadly, not all cryptocurrency that you can find is available. You have to use your research skills to find the website that has an available cryptocurrency asset that is available for purchase and not all cryptocurrency assets that are available in that website have the same starting price.
- COST OF FEES- Each of these cryptocurrency seller websites have a different starting prices for its cryptocurrency assets. Some of it is relatively cheap while some are very expensive. Just make sure that you are aware of the cost of fees before you hook up with that website and set up and account.
- AFFORDABILITY- As what the old adage of investment, you should never invest more than what you can only afford. It is best to talk to a financial expert first before you pour your investment with cryptocurrency.