Cryptocurrencies offer a great way to earn money and increase returns. For example, the price of Bitcoin has risen from under $5 in 2009 to over $40,000 today. Similarly, Ethereum has risen from under $10 to over $3,000. In total, cryptocurrencies have emerged from nowhere to become an asset class worth over $2 trillion. In this article, we will focus on the easiest way was to buy cryptocurrencies.
Use digital wallets
Online wallets are popular financial products that allow people to save, send, and receive money from loved ones or business partners. These wallets are popular due to their ease of use and the fact that they usually have low fees.
The number of digital wallets has seen a strong upward trend as the fintech revolution continues. Some of the most popular wallets are PayPal, Cash App, Skrill, Neteller, Revolut, and Venmo, among others.
As part of their strategies, many online wallets have now made it possible to purchase cryptocurrencies within their ecosystems. The goal is to simplify the way people access financial services and earn money doing it.
Indeed, cryptocurrencies have become essential Cash App activities. For example, Cash App generated over $2 billion in revenue from cryptocurrencies in Q4 2021.
These wallets offer one of easiest ways to buy crypto -currencies. For example, in 2021 PayPal introduced a way to buy, save and send a number of cryptocurrencies on their platform. Today, Americans and Brits can easily use the platform to buy Bitcoin, Bitcoin Cash, Ethereum, and other coins directly using PayPal and Venmo.
The process of buying Bitcoin with PayPal Is simple. First, you must have an account with PayPal. Second, select the cryptocurrency you want to buy and the amount you want to spend. Second, you need to execute the transaction. PayPal will then deduct the money you have from your account. Alternatively, it will make the purchase directly using your linked bank account.
The process is similar with other online wallets like Cash App. All you have to do is select the coin you want to buy and then execute the trade.
There are several advantages to using these apps to buy cryptocurrency. First of all, the process is simple and only takes a few seconds. Second, most apps don’t charge a fee to execute the transaction. Finally, these are safe options. The only downside is that these apps don’t have a huge selection of coins.
Using Cryptocurrency Exchanges
The other easiest way to buy cryptocurrency is through a centralized exchange. An exchange is a company that provides different cryptocurrencies to trade. In most cases, exchanges provide a website and mobile apps that allow people to buy coins. They also offer other tools that help them make better and more informed choices.
Cryptocurrency exchanges work in a relatively similar way. They provide a marketplace where one can go and buy coins. After purchasing the coin, one can easily save it to their online wallet. If needed, a person can then convert their coins to cash and withdraw them to their online wallet or bank account.
Moreover, it is possible for people to move their exchange cryptocurrencies to their cold wallets in just a few steps.
The crypto exchange industry has become significantly saturated. CoinMarketCap tracks 511 exchanges from around the world. In total, these exchanges help move cryptocurrencies worth over $100 billion every day. Some of the biggest exchanges by volume are Binance, Coinbase, KuCoin, Huobi Global, Gate, and Crypto.com.
It’s easy to buy cryptocurrency using an exchange. First, you need to find a credible exchange that guarantees the safety of your funds. In most cases, we recommend focusing on popular exchanges like Binance and Coinbase instead of smaller ones that are unknown. You can read our eToro review , the CEX magazine and the Binance review.
Second, you need to create your account by providing your name and email address. After that, to comply with the law, many exchanges will seek to verify your account by confirming your location.
In the next step, you will need to select a cash deposit option. Many companies allow you to deposit your money using a number of options such as PayPal, credit cards and debit , Neteller and bank transfer. You can now purchase your coins after completing your deposit process. Bank transfers take longer while card transactions are instantaneous.
Using exchanges like Coinbase, Binance, and eToro is recommended as they are safe and provide more coins. They also provide more solutions such as staking, leveraged token trading, and perpetual futures trading.
Use a peer-to-peer exchange
Another easy option for buying cryptocurrency is to use a peer-to-peer exchange. These are companies that provide a platform where people can buy and sell cryptocurrency with each other more easily. A P2P exchange provides a platform that guarantees security.
They work in a simpler way. After creating and verifying your account, you will choose whether you want to buy or sell a coin. When buying, you will see many people selling coins and their prices. Select the one you prefer and then make payment directly. After receiving their funds, the coins deposited in the escrow will be transferred to you.
There are several reasons to use a P2P exchange. First, they are easy to use. Second, you can use arbitrage by buying a coin at a low price and then instantly reselling it at a higher price. Third, you can use your preferred option to complete the transaction. Paxful, Local Bitcoins and Binance P2P are examples of P2P payment platforms.
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Top 3 Easiest Ways to Buy Crypto
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