Crypto investments come with high risks and, at the same time, high profits. Before buying crypto, it is important to understand the principles of the market work, and then you will be able to analyze and predict the further market’s movement. There are some types of research helping crypto investors understand when it is the right time to buy and sell digital assets:
- Technical analysis (research of the asset’s essence, technology, application. etc.).
- Fundamental research (analysis of external factors that affect the crypt field – inflation, world’s crisis, etc.).
- Quantitative analysis (is made based on the two previous types of analyses).
Once you understand how to trade crypto and invest smartly, you will succeed in this field. However, you need to begin with something, and the first step is, of course, buying crypto. How can I buy cryptocurrency? Let’s answer this question here in this article.
Ways to Purchase Crypto
The most used option for buying crypto are:
- Centralized platforms
- Decentralises services.
Crypto investors use both options. The difference between them is centralized management or its absence. Centralized platforms operate like banks – they have a management team that enables the smooth work of a platform, controls transactions and tracks them to catch illegal actions and block them on time. Centralized exchanges are responsible for users’ funds’ safety, integrating protection mechanisms, etc. Such exchanges allow buying crypto assets with fiat money, adding bank cards, withdrawing funds to cards, etc.
Decentralized platforms are not responsible for users’ funds. Crypto coins move between their wallets and do not stay on a platform. Such exchanges are suitable for trading small sums but not reliable when it comes to converting large amounts. Traders actively use both types of platforms, but all experienced users have accounts on centralized platforms such as Binance and WhiteBIT.
How to Buy Crypto on WhiteBIT?
Here are simple steps for buying digital assets:
- register an account;
- pass verification;
- pick the payment method;
- add your bank card if needed;
- open the converter and find the needed coin;
- pay the fee.
Once done, you will receive coins in your account. If you face any difficulties, you may address customer support.