How to buy crypto coin and where to buy it? This question is perhaps one of the most asked questions in 2021. So why? In fact, one of the answers to this question is Covid-19. The virus, which started to affect many countries in March 2020, also affected global financial markets. Many stocks fell sharply. Of course, Bitcoin also got its share from this decline and fell to the level of $ 3500. However, this decline was temporary. Bitcoin attracted the attention of institutional investors at a time of economic crisis and started to rise!
Bitcoin, which broke the record after attracting this attention, reached the level of $ 65,000. Of course, other cryptocurrencies also got their share from this rise. There are also cryptocurrencies that have increased their value 100 times in the last 1 year.
Since we have given the information, “Where and how to buy crypto money?” Let’s find the answer to your question together!
Where to Buy Crypto coin?
“How to get cryptocurrency?” Before we ask, the first thing we need to know is, of course, where to buy it. At this point, let’s talk about classical financial markets. We often use various brokerages when buying and selling stocks. Here, we use crypto money exchanges when buying crypto money. In other words, one of the answers to the question of where to buy crypto money is crypto money exchanges.
Of course, there are various methods other than exchanges. OTC and P2P are some of the names given to these methods. OTC stands for Over The Counter while P2P stands for Peer to Peer.
Let’s take a look at OTC first. OTC purchases are not overseen by any exchange. These exchanges take place directly between the two parties.
To explain peer to peer, it can be explained as a form of information or asset transfer that does not mention the existence of any central authority. Here the word “peer” corresponds to the word “wife”. In other words, peer-to-peer transfers are called p2p. For example, Satoshi Nakamoto, the team or person behind Bitcoin, used the title “A Peer-to-Peer Electronic Cash System” when promoting Bitcoin. That is, the electronic cash money system between spouses.
As a result, there are many ways to buy Bitcoin. However, perhaps the easiest for beginners is to register on an exchange. For this reason, in our article, “How to buy Bitcoin and crypto money using the cryptocurrency exchange?” We will answer the question.
We; “How to buy cryptocurrency?” In our article, we will continue with Huobi, one of the largest stock exchanges in the world.
What Should Be Considered When Buying Crypto coin?
What should you consider when doing this research? First of all, the price of crypto money is the most important thing to pay attention to. But let us warn you at this point! Not every cryptocurrency is a thousand dollars, two thousand dollars or 10 thousand dollars. For example, you can see prices like 0.00009. As you can see, it’s not even a dollar, not even 1% of a dollar. Inexperienced investors who have just entered the market think that crypto money with a lower price can make more profit. However, this is not always possible under all circumstances.
Some Information about Crypto Coin
The situation we want to explain by saying price is actually the movement of crypto money. “How did the cryptocurrency move in the last 1 year, last 6 months, 1 week, 1 month?” This question determines the price of crypto. For example; Some cryptocurrencies triple or even quadruple their value in one day. However, it is important to be experienced and take risks at this point. For this, it is useful to know technical analysis. The idea that people generally dwell on is to buy when the price is at the support and sell when it is at the resistance. But rest assured, investment forms and strategies consist of thousands of different methods. For this reason, it is very important to do your own research before making your investment.
In the above section, we talked about the ability to make short-term gains. On the other hand, you can think of Bitcoin and other cryptocurrencies in the long term rather than daily or weekly. So being a direct investor and setting yourself a goal. As those who have been in the market for a long time know, cryptocurrencies such as Bitcoin, Ethereum, XRP are in the portfolios of many investors in the medium and long term. It is useful to make this distinction well.
One of the things you should pay attention to when buying cryptocurrencies is to do the research well. So what does this research mean? There are more than 5,000 cryptocurrencies on the market. All of these cryptocurrencies are very important, it is not right to think that they will shape the future. Because most of it is useless.
More About Crypto coin
The first to create cryptocurrencies is, of course, Bitcoin. However, the fact that Bitcoin was the first did not cause it to drag a large audience behind it. First of all, the technology of Bitcoin was very important. We wouldn’t be wrong if we say that besides technology, Bitcoin has brought a different perspective to the economy. Because Bitcoin eliminates the risk of inflation in itself. On the other hand, transparency is also important. All over the world, transactions are viewed publicly but anonymously. We can say that Ethereum has brought a different perspective to sectors such as banking and insurance with the smart contracts it offers to the world.
This is where the importance of the project comes into play. What does the investment vehicle you will make in the long or medium term offer to the world? Who is in the team behind it, is this team reliable? Are they involved in any way in the cryptocurrency world? These are the questions you should ask for your long and medium term investments.
Step One: Registering on a Cryptocurrency Exchange
As we said above, there are cryptocurrency exchanges. By choosing one of these cryptocurrency exchanges, it is important to register. In our article, we explained the purchase process on the Huobi exchange. To register with Huobi, you need to complete various steps. You can click here to register with Huobi and take advantage of the commission discount. After creating a reliable password, it is necessary to share your credentials with the exchange.
Authentication is one of the important aspects of registering with a crypto exchange. Recently, many crypto exchanges have expanded the identity verification process, while official institutions have also issued a decree about the exchanges requesting this information from users.
In order to determine that the member registered to the Exchange has provided the correct information; Correctly matching the identity information with the selfie sent to the exchange is also important to prevent identity theft.
If there is a significant change in your stock market account, these cases will be identified and your account security will be ensured
On the other hand, in addition to sharing your identity information, methods such as 2FA and SMS verification are also very important for the security of your account. Because this is an important point to ensure the security of your account and to detect risky transactions.
With the decree published in the past months, it has become mandatory for exchanges to request this information from their members.
Second Step: Trading Screen
The image you see above belongs to Huobi’s trading screen. After registering with Huobi, you can download the mobile application to your phone. Then, clicking the Buy-Sell button at the bottom of the page and in the middle will take you to the screen that will allow you to buy cryptocurrency. This screen allows you to both buy and sell cryptocurrencies.