Getting started in the world of cryptocurrencies is very simple, since you only need one thing: well informed information. When this step is complete, you can move on to the most basic and important thing: buying and selling.
Cryptocurrencies are part of a very complicated world, with mining, blockchain, algorithms, trilemmas, scalability and a thousand other things that, really, are not crucial when it comes to getting hold of a small pile of digital currencies, so in this guide you will learn the fundamentals of buying and selling cryptocurrencies.
Basic guide to investing in cryptocurrencies
Things have changed a lot since Bitcoin burst onto the scene in 2009. Back then, buying and selling cryptocurrencies was very different. These mostly came from cryptocurrency mining and P2P operations. That is, users contacted each other, generally in forums, and exchanged cryptos as if they were trading cards.
Choose an exchange
Nowadays it is much easier. Due to the enormous popularity of cryptocurrencies and the large amount of money they move, there is no shortage of platforms that allow you to make transactions with cryptocurrencies with the same ease as buying on Amazon.
Therefore, the first step is to decide which platform, known as "exchanges", you are going to register on. Before choosing one, you should know that there are KYC and non-KYC platforms. KYC means “know your customer” (know your client) that is, you must identify yourself with your real data to operate on them.
Platforms with KYC are, in general, the easiest to use and the ones with the most users, and that is why it is advisable to start with them. There are many: Coinbase, Binance, Kraken, Bybit, Bit2Me... The differences between exchanges can be found in their interface, their transaction fees and the amount of cryptocurrencies they offer, but in general their operation is quite similar.
How to buy
Once registered, it is as simple as loading your account with money from a credit card, choosing the cryptocurrency you want and the currency you are going to use to buy it (known as pair), placing your order and that's it.
With the crypto of our choice already purchased we can do two things: save it to your profile on the exchange (which technically implies that They are not in your possession, but in the hands of the exchange) or save them in a physical cold wallet, such as a Ledger device, or a hot wallet like Meta Mask that you can install in your browser.
How to sell
To sell your cryptos you will have to return them to the exchange if you have withdrawn them and perform the reverse action; Select what currency you want to sell or exchange it for - since you can sell it for fiat money or other cryptocurrencies - place the sell order (which can be instantaneous or executed when it reaches a predetermined price) and that's it.
And in this simple way, you can buy and sell your first cryptos. Remember that crypto is a volatile market, so it is essential to do deep research before investing money.
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