The popularity of cryptocurrencies as investment instruments is steadily growing. Digital assets are becoming part of the real economy. This gives grounds for greater confidence in them, but does not eliminate the main risks.
How to start investing in cryptocurrency?
If you are convinced that you need to start investing with the purchase of cryptocurrency, then you are mistaken. All digital assets are classified as high-risk investment instruments. Therefore, you first need to study the coins you are interested in: their technology, project goals, current coin prices and total market capitalization. Master the terminology associated with cryptocurrencies and learn how to analyze key metrics such as market capitalization and trading volumes.
Define your investment goals and strategy. Decide how much money you are willing to invest, for what period of time and what percentage of your investment will be invested in cryptocurrencies. Experienced investors advise allocating no more than 10% of the total portfolio for crypto assets.
Choose a reliable cryptocurrency exchange where you will buy and sell cryptocurrencies. Study the reputation of the exchange, pay attention to the safety of its operation, availability in your region and trading fees. Check if the assets you are interested in are supported on the platform.
Where to buy coins
The number of cryptocurrency trading platforms is in the hundreds. Among them are centralized and decentralized exchanges, as well as fast exchange services. They are very convenient for relatively infrequent operations with cryptocurrencies.
CoinSwitch
CoinSwitch is an Indian trading platform that has been operating since 2017. The service supports over 400 coins and tokens. Due to cooperation with various cryptocurrency exchanges, the number of possible exchange directions exceeds 100,000. The platform allows you to buy cryptocurrencies for fiat money without the need to use bank cards. Registration on third-party exchanges is not required. Since the service cooperates with different exchanges, the fees for transfer BTC to ETH for each transaction can vary significantly. This is one of the most famous and popular cryptocurrency exchanges that do not require KYC verification.
Changelly
Changelly supports over 200 types of altcoins and allows users to choose between floating or fixed exchange rates.
Users will be able to easily exchange, buy and sell cryptocurrencies using the main page of the platform. In addition, Changelly also provides users with the ability to trade through the PRO version of their platform.
The service is convenient for periodic operations with cryptocurrencies, but for active trading it is still preferable to choose a centralized platform, such as Binance, Huobi or another top exchange.
Bisq
The Bisq platform, also known as BitSquare, is a fully decentralized marketplace where you don’t have to reveal any personal details. It is a peer-to-peer trading platform for the exchange of cryptocurrencies and is considered one of the most advanced.
The platform supports more than 15 payment methods, but does not provide services related to storage. This means that users are in complete control of their funds. Bisq supports just over 120 cryptocurrencies.
Bisq is considered to be one of the safest exchanges, but can be difficult for beginner crypto investors. A significant drawback of this site is low trading volumes.
LetsExchange
LetsExchange is an online instant cryptocurrency exchange service that provides users with a quick and convenient opportunity to exchange various cryptocurrencies among themselves. It is possible to follow the link https://letsexchange.io/ in more than 200 countries and supports over 3000 assets, including fiat currencies.
When carrying out a cryptocurrency exchange operation, the user selects a trading pair and indicates the desired amount for the exchange. The service then provides the wallet address to which funds should be sent.
After the funds are credited to the LetsExchange wallet, cryptocurrencies are automatically exchanged, and the user receives the desired currency in his wallet. The platform does not provide storage services, and you must have your own offline crypto wallet to use the service.
Godex
The Godex platform operates on a fixed rate basis and provides an instant and anonymous exchange of digital currencies. Currently, this platform provides access to more than 300 different coins, and almost every popular cryptocurrency is available for exchange. The average transaction completion time is 5-30 minutes, which is significantly faster than on many other platforms, where the process can take 30 to 45 minutes. Godex does not support crypto-fiat transactions.
