Before buying crypto, one should conduct research and determine which asset is better to purchase. Numerous young projects attract investors with promises, but one should not get carried away with them – it is always better to analyze the project’s prospects on your own.
In this article, we will figure out how to buy cryptocurrency wisely and in what steps you can do it.
Suppose, you got interested in one promising project and want to invest. Check the project across the following criteria:
- Who stands behind the project?
- What is the essence of the project, and what problems does it solve?
- Does the project have an engaged and active community?
- Do project founders conduct activities and sessions for their community?
- Is the whitepaper written correctly?
- What does the roadmap look like?
- Who are the project’s backers?
These questions will guide you while investigating the project and help you understand if it is worth investing in it or not.
Let’s talk about other preparation steps before moving to the question, “Where to buy crypto?”. Once you finish the research, you need to create a wallet. It may be an offline or online wallet. If you plan to become an active trader, we recommend getting a hot (online) wallet on one of the popular crypto exchanges. If you just want to invest and hold assets, then you better think about buying a cold wallet.
How To Buy And Sell Cryptocurrency
You can buy crypto assets at crypto brokers, ATMs, P2P platforms, simple exchange, or centralized platforms. If you are a beginner, we recommend registering on one of the centralized crypto exchanges. They open a wide range of trading tools, 24/7 customer support, and sometimes even the opportunity to train and learn.
The WhiteBIT platform offers a demo account. You can practice how to buy and sell cryptocurrency, apply different trading strategies, and receive a priceless experience.
Trading cryptocurrency for beginners should be started with a lot of practice on a demo account. On White Blog, you will find many valuable guides on working with crypto.