Cryptocurrency : How to buy cryptocurrencies like Bitcoin, Ether? Know the basics here

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Cryptocurrencies like bitcoin have seen tremendous growth in the past few months. Lakhs of people in the country are investing in them. If you have not yet understood it completely, then in this article understand what you need to do to invest in cryptocurrencies.

Millions of people are investing in Bitcoin and other cryptocurrencies in the country.

If you also want to invest in Cryptocurrency, but have not been able to start yet because this whole matter seems a bit complicated, then we are telling you everything about it in this article. The good news is that buying cryptocurrencies like bitcoin is as easy as opening a mobile wallet on your phone. Cryptocurrencies such as bitcoin, ethereum, tether and dodgecoin have shown tremendous growth in the past few months. In India also lakhs of people are investing in them. If you haven’t fully understood it yet, then in this article understand what you need to do to invest in cryptocurrencies and how you will be able to buy bitcoin or other similar virtual currency.

Before buying and selling virtual currency, you need to open a trading account with a cryptocurrency exchange. There are many different cryptocurrency exchanges operating in India. By doing a little research on them, you can choose the exchange of your choice. We recommend that you start trading with an exchange that is registered in India and has an office here. Also, exchanges do KYC verification for your security, so choose an exchange that complies with the security rules.

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Exchanges specify in which cryptocurrency they deal and transact, so before opening an account, check whether the exchange deals in the cryptocurrency you want to invest in.

Now it’s time to buy cryptocurrency

Once the account is opened and the KYC process is completed, you will be able to start trading anytime. To buy cryptocurrencies, you need to link your bank account to the payment method on the exchange, from where money will be deducted for purchasing cryptocurrencies. Now after this you have to place the order. Whatever cryptocurrency you want to buy, whatever you want to buy, all this has to be told. After this, keep in mind that before finalizing the order, re-check everything thoroughly. Do not click any option in haste. A preview of your order will appear on the screen, check it carefully.

Check the market price of the crypto coin you are buying. How is that crypto doing in trading, check all this information. Do your research as the crypto market is subject to a lot of volatility. Also keep checking whether the government has given any statement regarding cryptocurrencies or has said anything about their regulation.

Now if you have considered every aspect, then only after that click on ‘buy’. After purchasing cryptocurrency you have to store it. Many exchanges offer storage facilities on the same platform, but it is best to store your assets in a crypto wallet, especially a cold crypto wallet. Hot crypto wallet is always online and hence not as secure as cold wallet.

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