More and more people are interested in Bitcoin and crypto currencies in general. If you are determined to invest in crypto currencies, either because you have thought about it carefully or because you want to take advantage of the fact that they are called to be the future, then we are going to explain how to invest in virtual currencies.
Crypto currencies are suffering from regulations in different countries that have certain restrictions on it in some of them. However, although their success is not at the same level as when it was at its peak, they are called to be the future. In fact, some central banks are already thinking about launching their own CBDCs, which are the criptomonedas that can be considered the fiat money to be released by the bank itself. If you want to know how to invest in crypto currencies, follow the steps that we are going to give you below.
Instructions for investing in crypto currencies
Create a wallet or wallet
First of all, you must create a wallet, which is a digital wallet in which virtual and traditional currencies are stored. It is actually a program that offers access to the block chain networks of each currency.
Through them you can know the balance of your account, as well as receive or send currencies, access additional services or access exchanges, which is where you can buy and sell virtual currencies.
Before opening a new wallet you should know that there are different ways to store your digital currencies, such as:
Online: It is one of the most common ways, since they allow you to access any device that has an internet connection.
Mobile app: This is the most practical option, since it is enough to download your application to your mobile or tablet, and you can always carry your wallet with you.
Debit cards: It is a new way to buy and store crypto currencies.
USB memory or paper: It is also possible to print the code of your wallet on paper or save it on a USB memory.
When you register for a wallet, you should know that you will need a series of documents and data:
Personal data. You will have to enter your name and surname, date of birth, address, etc. Payment methods. You will have to indicate the details of your bank account or credit card, PayPal account, etc., depending on the method you choose.
Security. The best wallets will need different levels of security, such as verification with ID, secure password, and so on.
Once you have created your virtual wallet you can find your own address or public key (public key), a code that will allow you to receive transfers. The address can appear in different ways, such as:
Link: It is a web link, which you can access by just clicking on it.
QR code: It is a code similar to the barcode in which there is information about the address of the wallet.
Alphanumeric code: It is an address that appears reflected in a fragment made up of numbers and letters.
Where to buy crypto currencies?
If you have a wallet but it is empty, you can buy crypto currencies through different options, thus starting your investment in them. You have the following options at your disposal:
Wallet: The vast majority of wallets, at least the most important ones, offer you the possibility of buying any crypto currency directly from your wallet. In this way, from him you can buy Ethereal, Bit coin, etc. This is one of the easiest ways to buy virtual currencies and therefore one of the preferred by many users.
Exchange: Exchanges or exchange houses are platforms conceived to be able to buy crypto currencies. Among the most popular are Coin base, Coinnama, Cex.io or Kraken. Buying crypto currencies in any of these exchange houses implies following a similar process to buying any type of product or service through the internet, that is, you will have to register first and then buy the crypto currencies through a payment system such as credit card, PayPal, bank transfer. During the transaction itself, the exchange house will ask you to enter the address of your wallet, either the QR, the link or the alphanumeric code. In this way, you will receive your digital coins there.
Brokers: In the world of crypto currencies there is also the possibility of resorting to trading. That is, you can buy them in Forex and exchange them for currencies such as euros, dollars…. In this case, you will have to open an account at the corresponding broker and invest in crypto currencies. In this case, you don”t need to register or download a wallet.
Debit cards: In Maestro or Visa debit cards you can use them as a wallet in which both fiduciary money and crypto currencies can be stored. Through an application it is possible to manage the balance, buy and sell the coins, and so on.
P2P: A last option is to carry out a crypto currency exchange between individuals. It is one of the least common, mainly because the sellers themselves set the sale price.
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