If you’re tempted to buy cryptocurrencies, the first thing you need to do is familiarize yourself with how it works. Cryptocurrencies are digital forms of money that can be used to buy goods and services.
There are a variety of coins including Bitcoin, Ethereum, Litecoin. More are available for purchase with fiat currency (USD, EUR, etc) as well as other cryptocurrencies.
By David Stone
Once you’ve got the basics of how cryptocurrency works, look into purchasing some for yourself.
The most common method is buying from an online exchange such as Coinbase or Gemini. Exchanges let users buy and sell various coins with their local currency. Getting started, you create an account on the website.
Enter your banking information if you plan purchasing with fiat currency.
Some exchanges also offer the option of purchasing coins directly from other people through a person-to-person marketplace like LocalBitcoins or Paxful.
Another popular way is by using a hardware wallet like Ledger Nano S or Trezor One. These wallets store your coins securely on your personal computer and access them right away without needing to go through an exchange.
Surprisingly, there are also ATMs where you can buy cryptocurrencies by depositing cash or swiping your credit/debit card at select locations around the world.
No matter which route you decide to take when buying cryptocurrencies, it’s important that you do plenty of research beforehand so that you understand all aspects of the transaction process in order to make well-informed decisions about your investment portfolio.