Bitcoin is considered one of the best-performing crypto coins on the market. Many people are interested in investing in crypto but don’t know how they can get started. Well, there are plenty of ways for you to start investing. Despite the constant availability of cryptocurrency traders & store owners that have been providing you with information on how to Invest in BTC through Uphold, it’s not uncommon for people to be looking for a reliable place to purchase.
If you’re looking to buy your first Bitcoin or Ethereum coins, then you are in the right place. In this guide, we take a look at how you can get started with cryptocurrency coin exchange. The process is quite simple and you don’t need to be a guru to make your first trade.
Crypto Exchange Accounts
Crypto exchange accounts are platforms that allow users to buy and sell crypto easily. The exchange account services are available in form of web apps, desktop apps, or smartphone apps. You will need to sign up first so that you can use the services available.
The signup process is quite simple. All you need is an email address and you’re set. Once you sign up, you will need to verify your account. However, crypto exchange services such as Nakitcoins will only ask you to show proof of identity when completing transactions.
Once your account is verified, you can add your mode of payment. You can choose to pay for crypto from your bank account using your credit or debit card. After you purchase your first coins, you can use the bitcoin conversion service. You can convert your bitcoin to ethereum or any other altcoin you’re interested in.
Nakitcoins offers a coin swapping service that allows you to exchange your crypto coins. You can swap bitcoin for ethereum or vice-versa. There are many options and the swapping fees are quite low. If you’re looking for the best BTC exchange site, have a peek here.
P2P platforms are almost similar to crypto exchange websites. All you need to do is register for an account and get a crypto wallet service. However, with P2P platforms, you’ll be working more with crypto merchants.
You can be a merchant and sell or buy crypto. The BTC exchange service here is quite competitive because there are many other merchants also looking to woo clients in. To make it, you will need to offer decent exchange rates and proper customer service.
Using Crypto Wallet Services
Crypto wallets are crucial, especially if you’re hoarding a large number of bitcoins. Always know that storing your crypto account is always a risk. You do not get total control of your savings, either.
You can choose to use a hot wallet or a cold wallet. Some people even choose to use both for convenience purposes. Hot wallets are cheaper and more convenient for making transactions. If you’re doing cryptocurrency coin exchange on P2P platforms, you will need a private wallet where buyers can send the coins after a trade.
BTC exchange is a lucrative business. It allows you to earn profits without selling your crypto coins. One word of caution: ensure that you do market research to avoid raking in losses.