How do you get started buying cryptocurrency?

Set up Wallets!

Wallets are basically electronic device that allows a user to make electronic transactions. They are secure and insured. Wallets are a mode that aids you in converting your dollars/euros/pounds into bitcoins or any of the major cryptocurrencies you demand.

In order to buy, sell or trade or even to receive cryptocurrencies, you need to install wallets. Wallets help you to store your money as well as deposit money.

Wallets carry Two IMPORTANT Features:

Firstly Device authentication and secondly they are insured.

Wallet providers maintain security. They exercise encrypted language thus making the environment more secure. There is no chance to loose money or your money being hacked or anything that brings you red losses. As a result they keep you insured.

Device authentication is the best exercise that wallets conduct. Some of the cryptocurrencies ask you to sign in and provide verification code in return. This access is done either through your mobile or email and is completely under your control. Now you know that unless anybody has your mobile or your email address, they can’t log in.

If you just want to buy cryptocurrency or more alt coins or major coins , you just need a Wallet and an Exchange. Exchanges like Poloneix, Bittrex, are places that provide you a platform to carry your buying and selling. Wallets is a place where you store your money. And when required you may convert your stored dollars/euros/pounds into Bitcoins or any other cryptocurrency. In order to buy or sell, you put money from your wallet into the exchange and carry transactions. You need to create your account on the exchange you choose. It mostly asks you to fill KYC and even provide your Bank details for security reasons.

Thus, in order to get started all you need is a Wallet and an Exchange.

 

Source image: sumhr.com

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