Cryptocurrencies are now a consolidated reality and more and more people decide to invest a part of their savings on these assets, dazzled by the promises of easy wealth and money.But is it really like that?Obviously the truth is quite another and it is always necessary to pay the utmost attention before throwing yourself headlong into a high volatility market and buy cryptocurrencies, since the risks are always around the corner.
For those who start, it may be a good idea to read all the chapters present below, so as to understand how to buy and exchange cryptocurrencies, to which sites to rely on and what crypt to choose to start immediately with trading or with direct purchase.
What are cryptocurrencies
Cryptocurrencies are a form of decentralized digital currency, that is, not linked to any bank or no nation in particular.The term "crypto" of the name identifies the nature of the coin: each cryptocurrency is recorded through a blockchain transactions database, which works as public register of distributed cipher.Blockchain can also be used for other purposes (digital documents, NFT etc.), but in most cases it uses cryptocurrencies to reward the "efforts" of those who provide its power to close the blocking of the database, so as to allow the same database to expand.
Other cryptocurrencies adopt different systems, but in most cases they are given to the "miners" (or miner), that is, those who physically lend their PC or their IT resources (also entire server farm) to support the registration of new blocks in theblockchain.
A characteristic of cryptocurrencies is the limited number of units in circulation: in a similar way to gold or other precious metals.For example, the maximum number of bitcoins that can be produced is equal to 21 million, but as we approach this value, the production drops and, to produce a new block, more and more calculation power is required.The difficulty in producing new bitcoins (or any other similar cryptocurrency) favors the growth of value.
How to buy and exchange cryptocurrencies
To buy cryptocurrencies, we can proceed with the direct purchase of the cryptocurrency already on the market and operate in trading, following a scheme already known to those who invest in the stock exchange.With the direct purchase of the cryptocurrency we will have advantages only when the value rises, while operating in trading from any minimum variation of the price of the cryptocurrency.
Whatever the type of operation chosen we have different payment methods that we can adopt, also based on the type of investment we want to carry out on them.In the following chapters it is possible to find an in -depth analysis of the various payment methods available on the platforms authorized in Italy to trading and the sale of cryptocurrencies.
Credit card
The easiest method to buy cryptocurrencies is the credit card, widely supported by all trading and exchange sites.With it it is possible to buy new cryptocurrency (to be kept in the appropriate wallets, waiting for the next speculative rise) or trading on the value of the cryptocurrency.
If we do not trust in using the credit card, it is also possible to insert prepaid cards (provided that we have support for international circuits such as Visa or Mastercard) and keep the shopping under control, without putting the credit card ceiling at risk or preserved savingsOn ATM card.
Exchange of currencies
Another support method supported is the exchange of currencies, which will allow you to exchange cryptocurrencies (already in our possession) or traditional currencies accumulated by other trading activities to obtain bitcoins or other cryptocurrencies in which we are interested.
Paypal
Some trading or exchange sites also support Paypal, the famous financial intermediation company that puts an additional level of security between the chosen site and our finances, which will always remain safe.In most cases with Paypal it is possible to load the virtual account of the chosen site and only then buy the cryptocurrency choice or start trading on bitcoin or other similar coins.
Where to buy and exchange cryptocurrencies
To buy or exchange cryptocurrencies, it is better only to contact us to certified and safe sites, so as to avoid scams and have the certainty of being able to invest without fear or without any commission cost.Before proceeding it is necessary to choose whether to contact an exchange or broker, also based on the type of operation we want to carry out.
Best Exchange
Exchange are perfect for buying new cryptocurrency, keeping the new dedicated wallet coins waiting for a price rise.
The first recommended Exchange site to buy cryptocurrencies has been coinbase, for years the reference point for anyone who wants to buy cryptocurrency.
With Coinbase it is possible to create your cryptocurrency portfolio, exploit the advanced protections for the digital safe, program purchases and transfers of cryptocurrency and exploit the comfortable apps for Android and iPhone, so as to always keep the value of each coin under controlvirtual in our possession.On Coinbase it is also possible to read the dedicated guide created on the site.Coinbase supports practically all the cryptocurrencies on the market, including obviously Bitcoin, Etherum, Litecoin and Dogecoin are not lacking.
As a valid alternative to buy cryptocurrencies it is possible to enroll in the Exchange Coinhouse website, less famous than Coinbase but with a high degree of safety and highly reliability.
This site offers an intuitive interface for the management of all the cryptocurrencies in our possession, a dedicated customer service, high quality storage system and support to all the main cryptocurrencies on the market, with the possibility of programming and diversifying the walletalso based on the type of investment.
Best brokers to buy and exchange cryptocurrencies
Brokers are instead the choice to prefer for those who want to trading both when the cryptocurrency rises and when it goes down, predicting in advance the trend of the price for the cryptocurrency choice.
One of the best sites where to trading on cryptocurrencies is eToro*, in recent years it has become a real point of reference for anyone who invests online on the cryptocurrencies (and not only).
*Il 67% dei conti degli investitori retail perde denaro negoziando CFD con questo fornitore. È necessario sapere come funzionano i CFD e se ci si può permettere di perdere i propri soldi.
With Etoro we will have a safe and reliable trading platform in our hands, with support for credit cards and Paypal, advanced social trading tools (with the possibility of copying the trading methods of the most famous or profitable users), personalized risk management managementand the possibility of buying the cryptocurrency directly (which is joined by the classic sale of derivatives on the sale price).
Another platform on which it is possible to trading with cryptocurrencies is Plus500*, a CFD supplier that only offers the CFD service, among the most reliable on the European scene.
*Il 67% dei conti degli investitori retail perde denaro negoziando CFD con questo fornitore. È necessario sapere come funzionano i CFD e se ci si può permettere di perdere i propri soldi.
On this platform we will have access to all the main cryptocurrencies and a special asset called Crypt 10 index (which examines the value of the first 10 cryptocurrencies for sales volume), so that you can invest in the price variation of the most common cryptocurrencies.There is no shortage of advanced trading control tools and credit and paypal cards support to collect the earnings of transactions completed.
72% of retail investors lose money due to CFD negotiations with this supplier.Evaluate if you can afford to run this high risk of losing your money.
Another trading site we can rely on is iq option*, in strong growth and for some time on a stable basis among the best in the cryptocurrency sector.
*Il 67% dei conti degli investitori retail perde denaro negoziando CFD con questo fornitore. È necessario sapere come funzionano i CFD e se ci si può permettere di perdere i propri soldi.
On this platform it is possible to trading actions, forex and cryptocurrencies using a single digital portfolio, which we can easily divide among all our investments.Among the noteworthy features we find a news system in the world of finance, analysis and warning system and very well made apps.The IQ Option digital portfolio can be linked to a common credit card or managed via Paypal, so as to always keep the expenses under control.
Which cryptocurrencies to buy
But what cryptocurrencies should you buy at the moment?To answer this question, simply take a look at the list of the first 10 cryptocurrencies by capitalization, so as to choose only cryptocurrencies with strong capital invested behind.
The ranking can quickly change over time, it is therefore worth keeping the list present at the top or our Cryptocurrency Guide, so as to be able to focus only on the cryptocurrencies that present a good capitalization.
For those who want to start with some emerging cryptocurrency (with future growth) it can very well rely on the lesser -known virtual coins, such as those seen in our dedicated guide.
Can cryptocurrencies be bought with Paypal?
All platforms seen in the previous chapters support Paypal as a payment method, so that you can easily fill your digital portfolio and invest directly on the cryptocurrencies or trading on the price derivatives without fear for the data of our credit card or for the data of the our bank.
If we are interested in buying Bitcoin with Paypal we suggest you also read our guide on the subject, so that we can understand what the limits are to use Paypal for the purchase of cryptocurrencies.
Is it worth buying cryptocurrency?
Each type of investment with cryptocurrencies falls among high -risk operations: therefore you can really do a lot of money but they can lose the same within a few hours, often even a few minutes.For this reason only those who are already an expert in trading can see their capital grow on monthly or quarterly base, also absorbing those few (inevitable) falls in which any investor can run.
When to buy and/or sell
There is no certain rule or method with bitcoins or other cryptocurrencies, since there are really many factors that can make the price of these digital coins vary.As general rules we can refer to the list present here:
These simple rules can be applied to any cryptocurrency and, by extensive, to any asset on which we want to invest.
Beware of scams
Even cryptocurrencies are subject to scams, with sites that promise easy and safe earnings with even minimal investments.Better to be wary of those who promise thousands of euros earned without doing anything: given the high volatility of the cryptocurrencies is it possible, but only if you are good at intercepting a rally rally on the price of the cryptocurrency choice or if we are good at trading, taking advantage of theprice oscillations.
Therefore, nothing is given, still takes a lot of ability: we wary all the scam sites and rely only on safe sites, including those we showed you in the previous chapters.
Conclusions
For many users, cryptocurrencies are the emblem of a new gold race, brought in front of their PCs without having to really go into "mine" to extract precious metals.The reality is obviously very different and, those who chew trading or actions for a while, can tell you that by choosing the cryptocurrencies we will find ourselves with a high risk investment, which can give great joys but also great sorrows, if not even disasters from the point offinancial view.
We therefore always act with great moderation and we choose well both the site to trading or where to exchange cryptocurrency and we always spend money that we can allow ourselves to lose, so as not to compromise our finances.
Below is a collection of frequently asked questions posed by many readers and enthusiasts who approach cryptocurrencies for the first time.
Frequently asked questions about how to buy cryptocurrencies
Is buying crypt legal?
Buying cryptocurrency is legal in Italy, as it is in countries where online trading is legal.
By choosing only authorized sites and subjected to periodic checks it is possible to buy or sell digital coins in complete safety, without risking more than necessary.
Is buying crypto anonymous?
Bitcoin has made the fame of anonymous coin and not traceable, especially if exchanged directly with its dedicated program.
Buy cryptocurrencies on authorized sites will however generate a log of the transmission and it will be possible to trace the transaction itself (and the sender), while it could be very difficult to trace the recipient user if it is not registered on the same platform.
Better to keep or trade?
It is difficult to answer this question, given that it is tendentially it is possible to make money both by keeping cryptocurrency in your Wallet (awaiting times of monstrous rise or science fiction assessments) both trading online on the price (more risky but also more profitable on the long term).
A good choice could be diversifying your investment portfolio, purchasing emerging cryptocurrencies and trading on already established cryptocurrencies and with great capitalizations.
Better only bitcoin or other crypts
As well as described in the various chapters of the guide, it is always advisable to diversify investments, purchasing or trading on bitcoin and other cryptocurrencies present in the top 10 by capitalization.
It should be kept in mind that often the rise or reduction of Bitcoin will lead the entire cryptocurrency sector to undergo settlements, therefore in addition to the cryptocurrencies we also examine some investments on other financial assets.
Where to keep the crypt purchased
The cryptocurrencies purchased are kept in the Wallet, a encrypted digital portfolio that we can bring with us on a USB stick, on the chosen service app or on the cloud.
All sites work well with the wallets and allow you to choose how much cryptocurrency "keep online" and how much instead keep offline, so as not to spend or invest more token than necessary.