For many people, cryptocurrency is the future of finance. Already, in the States, 28% of American adults have invested in cryptocurrency, with many more are planning to do so in the future. President Donald Trump has vowed to make America the ‘crypto capital of the planet’ and has already crafted a strategic crypto reserve, which has led many more states to do the same. As the government pushes for crypto adoption, it’s likely that many American residents are considering the benefits that investing in crypto could bring for them. With that in mind, let’s take a look at how you can go about purchasing crypto if you’re a first-time investor.
Debit/Credit Card
One of the most popular methods of purchasing cryptocurrency is through a debit or credit card. Both methods can be used to buy almost all kinds of cryptocurrency, from the most popular, Bitcoin, to the much more niche and light-hearted form of crypto called memecoins. Understanding how to buy Bitcoin with a credit card is simple, and involves visiting a trusted website, such as Best Wallet or a non-KYC crypto exchange platform. Using these methods not only enables you to purchase crypto using a credit card, but also lets you do so anonymously, a feature not afforded to every crypto selling platform.
Crypto Exchange Platforms
Crypto exchange platforms are designed and built to provide a platform on which crypto can be bought and sold. Usually, to access these platforms, you’ll need to create an account. In most cases, this is free to do, but it should be noted that some offer more anonymity than others. Once you’re in, you can navigate the site, which works in much the same way as a broker, to purchase specific crypto coins or make transactions in cryptocurrency. There are different kinds of crypto exchange platforms, including centralized and decentralized options, so it’s a good idea to do your research first and find which is best for you.
Paying for Crypto with Digital Wallets
You can even purchase cryptocurrency on several different platforms using digital wallets. These are financial wallets stored on electronic devices, usually mobile phones. Payment methods such as PayPal and Apple Pay fall under the category of digital wallets, and both can be used to purchase crypto most of the time. The benefits that come with doing so include increased financial security due to encryption and faster transaction speeds. Remember that before you purchase crypto, you’ll need a crypto wallet to safely store any purchased digital assets.
Purchasing Crypto on Digital Wallet Platforms
If that wasn’t enough, many different digital wallet platforms and apps enable the purchase of cryptocurrency to be made on the platform itself. Apps like PayPal and Cash App have a crypto section where users can buy, sell, and hold cryptocurrency. Not only that, but these apps also include helpful info on what crypto is, how it can be purchased, and how crypto investors can keep themselves safe while navigating the world of cryptocurrency.
Using Crypto
Since crypto is itself a form of currency, it can be used in the purchase of crypto. This is often called crypto trading and can take place on crypto exchange platforms. It might seem counterproductive at first glance, but purchasing crypto using already existing crypto assets can actually be a very strategic move when it comes to effectively investing in cryptocurrency. This is because if you were to use some of your share of type A crypto, to make an investment in type B crypto, you would be left with two different forms of cryptocurrency and will have, therefore, diversified your investments and improved your chances of making a profit from the volatility of at least one of the coins.
Crypto ATMs
These machines have grown in popularity across the states in recent months and have made the purchasing of crypto easier than ever before. They work in much the same way as regular cash ATMs, but rather than accessing the personal bank account of the user, they enable them to purchase crypto directly from the machine by entering their bank card. This makes purchasing crypto fast and accessible for those in cities, but they do come with the drawback of significant transaction fees.
Final Thoughts
Crypto can be purchased with just about every payment method in existence, including crypto itself. It is important, however, that those looking to purchase crypto make sure they do so on a reputable site. There are many different options when it comes to choosing where to purchase crypto from, with multiple advantages and disadvantages for different users, so it’s all about doing your research and finding which is the best method for you.
