This comprehensive guide is your all-in-one reference for learning different aspects of the cryptocurrency buying process including how to choose the right provider, options offering the lowest fee, available payment options, and much more.
To save you time, the top three providers for buying cryptocurrency are Coinbase, Binance, and eToro. These platforms offer the widest range of cryptocurrencies, have excellent reputations with their customer base, and offer intuitive user interfaces.
In this section, we have outlined the process of buying cryptocurrency. Beginners will find this section time-saving when getting started.
There are many types of platforms for trading cryptocurrencies, so your first decision should be to select one that aligns with your goals and requirements. Here are the types of platforms you should know about:
Brokers: These platforms facilitate the process of buying and selling cryptocurrencies for the customer, which is perfect for beginners. Brokers tend to provide easy conversion to fiat currency, exclusive sign-up offers, investment protection, portfolio diversification, but usually charge higher fees than exchanges. Examples of excellent cryptocurrency broker platforms include eToro, Webull, and Binance.
Centralized Exchange: A centralized exchange is a single organization that facilitates the trading of cryptocurrencies on a large-scale, which is a similar business model to stock exchanges. Examples of high-quality exchanges include Binance, Coinbase and Kraken.
Decentralized exchange: A decentralized exchange directly connects the crypto buyers and sellers with each other to facilitate the trading in a non-custodial manner. Since there is no central authority in this arrangement, the users are not required to submit their personal details or complete the KYC process, hence providing anonymity to the traders.
To start the registration process of the provider where you would like to trade cryptocurrencies, you’ll need to navigate to the homepage and look for the sign-up button. Usually above the fold and often in the top right-hand corner.
Typically, you’ll be taken to a screen where you need to provide basic details such as your email and name, and you’ll be required to create a password. You’ll be sent an email to your inbox with a verification link to activate your account.
Note: Account registration and fulfillment of the KYC verification is not required when trading cryptocurrencies on a DEX.
KYC verification is required during the last step in the process of creating your account on a centralized exchange or when you log into the platform for the first time. In any case, you will be asked for more details, which include why you want to trade, your experience, and the amount you want to trade. You will also need to submit a photo ID proof and proof of residence. Eightcap requires this to begin trading, while platforms like eToro allow you to start trading with fewer hurdles.
You will need to deposit funds or top up your account balance before you can buy cryptocurrency, and how you complete this step depends on the platform where you wish to trade. Here is a summary of the most commonly used options:
Brokers: on broker platforms, you can simply deposit fiat currencies (for example, using PayPal or and use them to buy cryptocurrencies. This is one of the reasons why brokers are perfect for beginners getting into the world of cryptocurrency trading.
Exchange: You can deposit fiat currency to your centralized exchange (CEX) and then use the balance to buy cryptocurrency. Some of the most common methods of buying crypto on a CEX are debit/credit card, PayPal, and bank transfer.
DEXs: To trade on a DEX, you must fund your decentralized wallet with the tokens you want to exchange.
Once you have funded your account, you can navigate to the trade section of the platform and search for the cryptocurrency you want to buy (alternatively, check out our guide about the best crypto to invest in). Typically, there is a search bar where you can quickly locate the cryptocurrency you want to buy.
After finding the desired cryptocurrency, you can view the details of the purchase price and select the amount you want to trade.
Once you have bought the cryptocurrency, it’s time to consider how it will be stored. Most providers allow you to store the cryptocurrency on their platform. This is known as hot storage and is vulnerable to potential hacking events. You can also transfer your crypto to software and DeFi wallets like MetaMask, Trust Wallet, Coinbase Wallet, etc.
Alternatively, you can transfer the cryptocurrency to a hardware wallet, also known as cold storage. This is a physical device that can be connected via USB ports and is arguably the safest method of storing cryptocurrency.
This section is a good starting point for beginners who want to explore a suitable platform to fulfill their cryptocurrency trading needs.
Crypto brokers are the easiest way for beginners to get started because they handle the trades on behalf of the customer. Also, you can deposit using fiat currencies, and many payment methods are available, which include credit/debit cards, bank transfers, PayPal, and digital wallets. Some of the top providers include eToro, Robinhood, and Coinbase.
The providers listed in the table above have been shortlisted based on their positive reputations among the users. On top of that, these platforms offer transparent fee structures, so you can fully understand how much you are paying while trading on the platform.
This platform provides the trading of various assets, which include ETFs (exchange-traded funds), stock, and cryptocurrencies. The exchange offers a user-friendly interface, social trading, and excellent educational content. eToro’s CopyTrader™ feature allows other users to copy the trades of expert traders using the platform – perfect for beginners learning the ropes.
Robinhood started out as a disruptor in the brokerage industry, and its competitive advantage can be traced back to commission-free trades. Moreover, there are no withdrawal or inactivity fees, which further incentivizes users to give Robinhood a try. However, other brokers also offer commission-free trades, so Robinhood’s advantage has somewhat diminished.
Coinbase is an American-owned company based in New York. It also offers a competitive fee model, but you will be charged a spread markup on both sides of the trade. The charting tools and easy-to-use mobile app are some of the attractive points of using Coinbase for beginners.
Crypto wallets are programs or devices that allow you to store your private keys in your personal custody rather than leaving them to the exchanges. The private keys can unlock access to your crypto holdings, hence having them in your personal custody ensures maximum security.
Crypto wallets come in various forms, including hardware wallets that are similar to USB sticks and mobile apps like the Coinbase Wallet or Trust Wallet. Hardware wallets are considered to be the best and safest option to store your keys as these wallets don’t need to be connected to the internet unless you want to send or receive crypto.
The providers listed above offer trusted storage solutions that many customers have had great experiences with. Also, they allow you to store a large number of cryptocurrencies, which means you can store all your coins in one location.
This section summarizes a beginner-friendly approach to selling cryptocurrency on eToro.
Use your computer or mobile device to sign in to the eToro app. You will also need to complete setting up the 2-factor authentication process while creating the account.
Navigate to the portfolio section of the platform and select the cryptocurrency you want to sell. A modal window will appear that allows you to see the sale price and select the number of coins you wish to sell.
Once you are convinced with the transaction details, click on the trade button to finalize the process of selling the cryptocurrency.
CFD (Contract For Difference) in crypto involves trading on the movement of cryptocurrency without having real ownership of the asset. The idea is to predict whether the price of a cryptocurrency will increase or decrease over a specified time period, so you are not buying any assets.
The listed CFD platforms above were chosen because these providers offer the most popular cryptocurrencies for CFD trading, excellent user interface designs and competitive fee structure in the industry. This allows you to save money when trying to profit from crypto price movements. Additionally, these providers are tightly regulated by trusted government-appointed organizations worldwide.
Pepperstone
Pepperstone is an Australian-based financial services company founded in 2010 by Owen Kerr and Joe Davenport. It provides faster registration and responsive customer support. Smooth deposit and withdrawal processes lead to a seamless experience while trading cryptocurrencies.
Eightcap
Eightcap is another Australian-based trading platform that has a strong reputation. The platform offers smooth account opening experiences and quick deposits/withdrawals. Also, their deposits and transaction fees are competitive, so you’ll be saving money when compared with more costly brokers.
Plus500
Plus500 is a global fintech company founded in 2008 with headquarters in the UK. The easy-to-use platform has an amazing mobile app, which you can download from the App Store or Google Play. Also, the fast account opening process means you can start trading shortly after landing on their homepage.
It is important to understand the differences between buying cryptocurrencies and CFDs to help you choose the right transaction type. Here is a summary of the differences you should know about:
Asset Speculation: buying cryptocurrency gives you ownership of the asset. In comparison, a CFD contract does not since it is a speculation on if the price of the cryptocurrency will increase or decrease.
No Wallet: CFDs do not require a wallet to store the cryptocurrency keys, whereas wallets are required when you buy cryptocurrencies. Therefore, CFDs have fewer security risks since hacking events will not cause you to lose money.
Fees: the fees associated with buying cryptocurrencies are typically lower than what brokers charge for CFD contracts.
Leverage: CFD brokers usually provide leverage that allows you to get a loan to increase the trading size.
Apps allow you to buy cryptocurrency without firing up the browser in your laptop. It is a convenient alternative since the apps usually have smoother user experiences. Some of the best apps for buying cryptocurrencies are eToro, Coinbase, Crypto.com, Plus500, and Binance.
The listed apps for buying cryptocurrencies above were chosen because of their rock-solid market reputations, long years of service, exclusive features, competitive pricing structure, community-driven initiatives, and more.
Cryptocurrency exchanges are the cheapest way of buying crypto. These platforms act as the intermediary between the buyer and seller to facilitate the transactions through an order book while charging a small trading fee for every completed transaction. Popular examples of cryptocurrency exchanges include Coinbase, Binance, and Kraken.
To learn more about the leading cryptocurrency exchanges feel free to check out our “Best Cryptocurrency Exchanges” guide. Alternatively, visit your preferred search engine, and search for a long list of popular crypto exchanges.
You can buy cryptocurrency directly on an exchange with fiat currencies, and the ones available depend on the platform. This is done by depositing fiat from methods such as debit/credit cards, bank transfers, digital wallets, and much more. Once the fiat is funded in the platform’s account balance, it can be used to buy cryptocurrencies. The transaction fees and spread depend on the platform.
You can also use some cryptocurrencies and swap them for other cryptocurrencies like Bitcoin, Ethereum, Binance Coin, and Tether.
Bitcoin is arguably the best choice since it is the most popular cryptocurrency and, therefore, widely available.
We have chosen the providers listed above because of their competitive and affordable trading fee structure. For example, the trading fee of 0.10% on Binance is an excellent value for someone who is trading large orders Also, these exchanges are tightly regulated by government-appointed organizations like the FCA, SEC, CFTC, and FinCEN.
Decentralized exchanges are peer-to-peer trading platforms where users buy and sell cryptocurrency without the need for an intermediary. This is a great choice to enjoy anonymity while trading crypto since you don’t even need to share an email address. Also, it’s more secure to trade cryptocurrency from a DEX since you can interact with exchanges directly from DeFi wallets.
The decentralized exchanges listed in the table above offer relatively higher liquidity which means it will be easier to trade with others. Also, you can enjoy anonymity since account registrations or KYC verification is not required.
Yes, cryptocurrencies can be bought using P2P services such as LocalBitcoins. These platforms allow users to post offers with a price and accepted payment method. Buyers can search the platform for offers that provide terms they are willing to accept. In the table below, you will find the top P2P platforms.
The P2P providers listed in the table above were chosen because they offer low trading fees, flexible deposit/withdrawal options, and have established huge popularity among the users.
In this section, a long list of alternative trading platforms has been shared so that additional options can be explored for beginners and advanced users. You will find information such as the corresponding fee, the number of supported coins, and a link to our detailed review.
To choose the best crypto trading provider you need to consider some important factors as explained below
Security: Dig into the background information of the platform and scratch the details about the credibility of the founding team, security methods deployed, reputation and track record.
Fees: compare the deposit, transaction, and withdrawal fees for different providers to find the most affordable option.
Available: ensure that the provider allows you to trade coins of interest. Ideally, you will have access to hundreds of cryptocurrencies.
Investment Selection: if you want to get into crypto investments, then look at if this is supported by the provider.
Educational Resources: some exchanges like Binance offer a crypto academy section that covers different topics on web 3.0 including but not limited to the blockchain, cryptocurrency, DeFi, GameFi, and more. The educational resources help a lot, especially beginners who are trying to explore the sophisticated world of crypto.
Bonuses: you may receive bonuses for registering with a provider. This also includes commission-free trades and or cash rewards.
User-friendliness: choose a platform that offers a smooth UI and UX to have a better trading and investment experience.
In this section, you will find the top ways of buying cryptocurrencies so that you can explore the method which best suits your requirements.
Many providers allow customers to deposit money with online banking, which is a fast and reliable method of transferring funds. Kraken is an example of a crypto trading platform that supports bank transfers.
PayPal is an industry-leading payment processor that is accepted at many cryptocurrency trading platforms. Moreover, this online payment processor is strictly regulated and offers strong security features when transferring money, which includes 2-factor authentication. An example of a crypto trading platform that accepts PayPal as a deposit method is eToro.
You can also buy cryptocurrency directly on PayPal in limited locations like the US and UK. Simply fund your account with fiat currency, navigate to the crypto section,find the cryptocurrency you want to buy, and choose the amount you wish to purchase.
You can use your debit/credit card to deposit funds to a crypto trading platform, but you need to be aware of the very high fees. It depends on your card provider and the platform where you are trading. Coinbase is an example of an exchange that supports credit/debit card deposits.
Prepaid cards allow customers to deposit money to a crypto exchange anonymously since no personal information is linked to the transaction. For example, PaySafeCard is a popular prepaid card that is offered at crypto trading platforms like Paxful.
Digital wallet services like Neteller, Skrill and Venmo are convenient and fast methods of depositing money to crypto trading platforms. However, you must typically use a credit/debit card or bank transfer to fund the accounts of these services. An example of a cryptocurrency trading platform that accepts digital wallets includes Binance.
Bitcoin ATMs are available worldwide where you can buy cryptocurrency using fiat currency. The transaction requires you to insert your phone number, verify your identity and scan your wallet QR code. Most people are used to ATMs, so it’s an approachable method of acquiring Bitcoin, but the transaction fees can be high compared to buying online.
You can also use cash at crypto ATMs, but the accepted fiat currency depends on your location. You’ll receive the Bitcoin immediately after completing the transaction and you can use services like CointATMradar to find the nearest Bitcoin ATM.
The best platforms for buying crypto may differ based on the country where you reside. That’s because in each country, the regulations, fees, and license requirements might vary.
It is important to buy cryptocurrency safely, so you do not get scammed or make mistakes that cost you money. Here are the top points of consideration:
Regulators: check what regulators have given their seal of approval to the broker or exchange where you want to buy crypto. Ideally, trusted government organizations should vet the platform where you want to execute transactions.
Peer-to-peer: When using P2P platforms, make sure to use trusted providers like Binance that allow security features like two-factor authentication and encryption. If the platform does not require KYC verification, then the probability of getting scammed is high.
Fees: you need to check the fees ahead of time to avoid getting charged a relatively high fee. Some platforms have hidden charges that can affect any profit you make from crypto trading.
Wallets: ideally, if you own a large amount of cryptocurrency, it should be stored in your personal crypto wallet, especially cold storage because it is the safest option. However, you must ensure that the seed phrase to access the wallet is not lost.
Custom Reviews: read customer reviews about a platform to get a sense of their reputation. This can help you spot red flags that indicate you should avoid using that platform.
It is important to compare the fees of cryptocurrency trading platforms to get the best deal. In the table below, we have listed various fee types for popular crypto trading platforms. When buying crypto worth 1,000 USD, you can expect to pay a fee of around 10 USD.
You can save a lot when choosing a platform that charges a low deposit, trading and withdrawal fees. The table below provides 3 of the cheapest providers in the industry.
The providers listed in the table above were chosen because they are trusted platforms and offer some of the lowest trading fees. You will be hard-pressed to find competitive crypto trading platforms that offer lower fees with similar overall quality levels.
If you want to buy cryptocurrency fast, you need to choose a provider that offers quick deposit methods. The table below provides the top 3 examples for fast crypto purchases:
The providers above offer instant deposit methods, which allows you to quickly fund your account. Also, the user interfaces are intuitive and responsive which means that you can use the platform to quickly find the cryptocurrency that you want to buy.
In most cases, you cannot buy cryptocurrency anonymously since a KYC verification step must be completed to register with most providers. However, you can buy crypto from decentralized exchanges anonymously.
There are a limited number of ways to buy crypto without registration or KYC, one of which is using decentralized platforms like Uniswap. Here is the step-by-step process:
Start by finding a wallet that is compatible with the DEX where you want to buy crypto. This could be a desktop-based wallet like MetaMask.
Next, you need to fund your DeFi wallet with the crypto that will be used to buy tokens on the DEX. For example, you can load your MetaMask with Ethereum before you connect it to DEX like Uniswap.
Use the funds in your wallet to buy other tokens on the decentralized exchange.
Buying crypto anonymously: You can also buy crypto anonymously using an ATM machine and pay cash. However, the transaction fees will be higher than completing the purchase online. The biggest disadvantages of buying crypto anonymously include a lack of choice and the user interfaces you have to navigate are less beginner-friendly.
You may want to buy cryptocurrency without your identity being verified, and it is possible with a limited number of options. This includes buying crypto from an ATM machine using cash or using a wallet and purchasing from a decentralized exchange or P2P platform. We will share the step-by-step process for buying from a P2P platform.
Start by looking for a P2P platform that has a good reputation and a diverse range of cryptocurrencies to select from. Good examples of providers include LocalBitcoins, BitQuick, LocalCryptos, and Paxful.
Use the platform to find an offer that matches your requirements. Note the terms, which include the crypto price, the amount you can buy, payment method, and allocated time to complete payment.
Once you have found an offer that matches your requirements, pay for the cryptocurrency.
You may want to receive cryptocurrency offline to experience enhanced security. A paper wallet is an excellent method for this purpose. Have a look at the step-by-step process to understand the process of receiving cryptocurrency in your paper wallet:
Create a paper wallet using a website like bitaddress.org – you’ll receive the public and private key.
Move the crypto you bought into this paper wallet or receive the funds directly into this paper wallet through your public key.
This section will help you determine if buying cryptocurrency is a good choice for you and what you should expect.
Risky Investment: you should understand that investing in cryptocurrency is risky because of the volatility and unpredictability. It’s not uncommon for the new cryptocurrency projects to crash overnight due to rug pulls. Also, crypto trading platforms are prone to attacks, which is another way your assets could be gone. Centralized exchanges that have been hacked in the past include Kucoin, BitGrail, and MtGox.
When to Invest: at the time of writing, the value of cryptocurrencies has taken a huge hit because of macro-level factors such as energy prices, political developments, and inflation. Therefore, you should assess the right buying time to ensure you get the biggest gains.
Cryptocurrencies have a fear and greed index, which ranges from 0 to 100. When the index is at 25 or below, then there is extreme fear and that’s the right time to buy because the coin will be at the lowest price. However, when the index is at 75 or above, then there is extreme greed and the price will be highest because many people are buying the coin – this is the right time to sell.
Alternatively, you can follow the DCA (Dollar-Cost-Averaging) model, which means you should buy crypto over a time period to reduce the effect of price fluctuations.
Crypto Volatility: the price of cryptocurrencies is generally more volatile than fiat currencies. Therefore, you must ensure you can handle the volatility financially and stick to your financial goals.
Hacks and Security: crypto trading platforms can be hacked, so it’s safer to store cryptocurrencies in cold storage wallets. Using DeFi wallets is safer than storing cryptocurrencies on CEXs.
Oversaturated Market: there are many crypto trading exchanges, so the competition is stiff. This is great for traders because they enjoy lower transaction fees, better features, and intuitive user interfaces.
Crypto losses and SIPC: if you lose money while trading cryptocurrency because of fraud or hacking events, you are not protected by SIPC.
There are many benefits to buying cryptocurrencies, which should help you figure out if it’s a worthwhile venture.
Make Money: If you are successful in buying a blue-chip cryptocurrency like Bitcoin or Ethereum during the dip at a much lower price, then you can land yourself in an opportunity of generating a significant ROI when these cryptocurrencies reach their ATH (all-time high) in the bull market.
Diversify Your Portfolio: There are thousands of cryptocurrencies in the market, which means you have a lot of options to diversify your portfolio.
Limited Supply: Many cryptocurrencies have limited supply and a deflationary tokenomics structure, which is one of the reasons why the native tokens of some projects scale in value.
Fast and Easy Transactions: Blockchain networks like Solana offer a robust transaction speed (faster than VISA) while keeping a low cost.
Low Fees: Emerging projects are reducing the cost of executing the transactions – for example, Polygon is a decentralized Ethereum scaling platform that provides lower gas fees.
Decentralization: Parties can interact with fewer constraints with decentralized platforms. Users are not required to register with a provider or be subject to rule changes. The platforms can be trusted because a central organization cannot tamper with user accounts.
Just like with buying stocks, getting the timing right while purchasing cryptocurrencies is important to generate maximum profits. Here are a few points to consider:
Buy the Dip: Buying the dip refers to buying cryptocurrency when it has fallen from its peak valuation.
Dollar-cost Averaging: instead of buying crypto in one transaction, you can spread them over time. Therefore, your cryptocurrency investment portfolio will be less affected by price fluctuations.
You should conduct your own research before deciding if you should buy Bitcoins or Altcoins. This allows you to understand why one choice is better than another without relying on advice that might be misleading.
In this section, we provide suggestions for what cryptocurrencies are good investment choices. Keep in mind, that these are suggestions and not guarantees of the best-earning potential.
Bitcoin is the best cryptocurrency to buy for beginners because of several reasons including but not limited to: operating independently from other markets, not subject to the same inflation as fiat, great store of value, mammoth size community, robust infrastructure, limited supply subject to halving every four years, and more.
Many experts believe that the Binance coin will continue to grow because it has a track of continued growth. That’s because it has a lot of utility, which includes the ability to trade and invest in other securities, quarterly token burn, and reduced fees paid while trading cryptocurrency. Also, it fuels the Binance Smart Chain, which is one of the most popular programmable blockchains that runs smart contracts.
If you're interested in a metaverse coin, then Decentraland (MANA) is one of the best cryptocurrencies. It is ranked as the top metaverse coin based on market capitalization. The adoption by big brands gives this metaverse project value, legitimacy, and mass adoption. For example, brands like Nike, Samsung, and Coca-Cola are involved with Decentraland.
Ethereum is the driving force behind web 3.0 innovations like decentralized finance (DeFi), blockchain gaming, NFTs, decentralized applications, decentralized autonomous organizations, and more. These innovations have found their way into the economy to help industries to scale.
Since ETH is the native cryptocurrency of the Ethereum ecosystem, the users interacting with anything built on top of this blockchain will need to transact this coin. This leads to the immense utility for the coin followed by EIP-1559 burn functionality that reduces the circulating supply to enhance the value.
The Inland Revenue Service is the tax authority in the United States where you need to share crypto transactions. The tax authority classes cryptocurrencies as an asset and a digital representation of value. Assets that share the characteristics of virtual currency will be treated as Federal Income for tax purposes. Here is what you need to know:
Tax Payment: You do not need to pay taxes for holding cryptocurrency in the United States. However, you will need to pay taxes if you generate returns from selling your crypto because it triggers the capital gains clause for assets.
Additionally, if you receive cryptocurrency for business payments, then it’s a taxable transaction because it’s classed as business income.
Taxable Events: these include paying for goods and services, exchanging for another cryptocurrency, receiving forked or mined crypto, and exchanging crypto for fiat currencies.
Non-taxable Events: using fiat currency to buy cryptocurrency, donating crypto to charity or other tax-exempt organizations, giving crypto as a gift, and transferring cryptocurrency between wallets.
Tax Report: to ensure that you can accurately report cryptocurrency activity, you must keep organized records throughout the year. To file your cryptocurrency activity at the end of the tax year, use the IRS form 8949 – Sales and Dispositions of Capital Assets.
When to file taxes: the tax year ends on December 31st, and it must be filled by April 15th of the following year.
In this section, we will cover the various aspects that contribute to the movement in the price of cryptocurrencies. This will help you better understand the complexities of trying to predict how coin prices change over time.
Let’s dive deeper into the top 5 factors determining how cryptocurrency prices change.
Demand for Cryptocurrency: the demand depends on utility, which is what the currency can be used for. Utility increases the application of the coin and overall usefulness. Without utility, price increases are based on hype, and that eventually fades.
Competition: many coins have similar attributes, but if they are first to market, then they may end up the winner of that category. Also, technological improvements of previous coins may shift focus from older coins to better alternatives.
Market Sentiment: Cryptocurrencies have a FUD rating that ranges from 0 to 100, which is a measurement of the general sentiment towards how risky the currency is to buy. 0 is very risky and 100 is very safe.
Government Intervention: governments can interfere with cryptocurrency infrastructure. For example, China banned Bitcoin mining, which affected the coin’s price.
This section will help you understand the differences between trading cryptocurrencies and stocks so that you can understand which avenue of investing is the right choice for you.
When investing in crypto, you do not get a share of a company, while stock provides this material asset. Therefore, crypto investors don’t get dividends, but they can stake crypto to receive passive income.
Another major difference is the operating horse. Stocks can only be bought during specific hours on weekdays. In comparison, cryptocurrency exchanges are online and open for trading 24/7.
This section provides various alternatives for investing in cryptocurrencies that do not involve buying the coins directly.
DeFi or CeFi staking is the process of locking up cryptocurrencies in smart contracts, which allows you to get passive income and other rewards. The value of these rewards and income differs based on the coin you have chosen.
Investing in ETFs is another investment form that allows users to bet on wider aspects of the industry. This investment type tracks a range of crypto assets, so in one investment, you will be spreading the risk. Some of the more popular ETFs include BLOK, BLCN, and LEGR.
Crypto funds refer to portfolios entirely made up of cryptocurrencies. Like indices, they spread the risk of investing since you are not committing to the price fluctuations of a single currency. Two trusts that you can consider include Ethereum Classic Investment Trust (ETCG) and the Bitcoin Investment Trust (GBTC).
Cryptocurrency mutual funds are packaged with several cryptocurrencies and presented as a single investment product. The number and specific cryptocurrencies included in the fund varies by the service offering the investment type. Grayscale Bitcoin Trust is an example of a popular cryptocurrency mutual fund.
You can buy non-fungible tokens (NFTs) using cryptocurrencies like Ethereum is the most popular currency for buying NFTs. NFT marketplace like OpenSea SuperRare and Nifty Gateway offers the users to buy or sell NFTs built on top of different chains like Ethereum, Polygon, Solana, Klaytn, and more
You will need to connect a DeFi wallet like MetaMask and Coinbase Wallet to execute NFT transactions. Popular examples of NFTs include Jack Dorsey's first ever Tweet, Bored Ape Yacht Club, and Beeple’s “Everydays: The First 5000 Days”.
Consider investing in companies that hold large amounts of crypto such as Coinbase, Tesla, and Block. You can buy shares of these companies through the stock market using fiat currency. Specific stock options include
PayPal: cryptocurrencies got a massive boost from the news that PayPal decided to add cryptocurrencies as a payment form in 2020.
Nvidia: this is a GPU (graphical processing unit) manufacturer, which is one of the primary tools used to mine crypto.
Santander Bank: Santander Bank is one of cryptocurrency Labs’ first partners.
Cryptocurrency blockchain are secure because computations are used to verify the ledgers holding transactions. Miners use the computational power at their disposal to run these computations and in turn, receive cryptocurrency as a reward. However, it’s a costly process, so the Ethereum blockchain is going to observe Merge, which will remove the need for mining.
You can earn cryptocurrency from faucets that trickle out a small amount of crypto from completing tasks such as solving puzzles, and watching ads and videos. Some of the top crypto faucet coins include Dogecoin, Litecoin, and Dash.
In conclusion, investing in cryptocurrencies in 2022 is like investing in stocks, mutual funds, or real estate – you need to understand the risk and choose investments that are based on research. Do not invest more than you can afford to lose and try to spread the risk by diversifying your investment portfolio. Cryptocurrencies are volatile investments but there is a lot of opportunity in 2022 if you make the right bets.
Coinbase is the best provider in the US for buying cryptocurrency.
Binance is one of the cheapest US providers, with a transaction fee of 0.10%. This means you’ll pay a fee of just $1 for trades of $1,000.
It is worth buying cryptocurrency right now, but you need to choose the right ones. There is always opportunity in the market, but you must do your research. Long-term investments like Bitcoin, Ethereum, and have historically increased in price, so you can expect the same moving forward – but there are no guarantees.
Robinhood is an example of a trading platform where you can buy cryptocurrencies without paying a transaction fee.
The minimum amount you need to get started depends on the platform where you buy crypto. For example, on Coinbase, you can trade just $2 per transaction, while on Binance it’s $10.
Cryptocurrency transactions are secure because they are executed on blockchains that are based on the principles of cryptography, decentralization, and consensus.
There are no age restrictions for buying cryptocurrencies, but popular methods of obtaining crypto require you to be at least 18. For example, if you want to use payment methods like PayPal or register with Binance or Coinbase, then you must complete the KYC requirements which require you to be at least 18 years or above.

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