There are many ways to buy/sell cryptocurrencies. Choosing what will be more convenient for you and the least costly on commission is necessary. Carefully study the working conditions of exchangers and exchanges, keep an eye on safety and beware of fakes.
Some other services require you to verify the identity of the account owner to remove payment limits.
You can replenish your account in the “wallet” section. On the side of each currency, there are “deposit” and “withdraw” functions. Money comes within 10-20 minutes. When the funds appear in the account, you must go to the main page auction.
At the top, a list of options for exchanging bitcoin (for dollars, rubles, Ethereum, or zcash to usd) will be displayed. It would be best if you chose depending on what currency is on the account.
If a buyer is found on the proposed terms, the amount of cryptocurrency minus the service commission will appear on the user’s account. Usually, it is 2%.
There are three ways to withdraw cryptocurrency from an account. The easiest way to do this is to use a wallet not to exchange foreign currency (this can be done directly on the exchange, but with a commission).
- The first method is a transfer directly to a bank card.
To withdraw money, you first need to convert the cryptocurrency into a regular one – for example, by selling it on the stock exchange for rubles. The money for the transaction will appear on the ruble wallet, where it can be withdrawn. To do this, you need to specify the card details (name, surname of the holder) and confirm the withdrawal.
- Another way to withdraw funds is to convert the cryptocurrency to the exchanger. To do this, you must select your preferred exchanger and indicate which cryptocurrency you want to change and where to send it. Next, you need to enter contact details and the number of the cryptocurrency wallet (its number is indicated in the profile).
- An even simpler option is to negotiate the sale with an individual seller. He sends any desired currency to a bank card, and the user sends cryptocurrency to his wallet.
Risks of buying cryptocurrencies
Nobody is responsible for anything. It would be best if you accepted a simple thing: the cryptocurrency market has no regulator, and if there are any problems when buying dollar to sol, there will be no one to make claims.
Use several different wallets so as not to lose everything at once in case of force majeure.
The most reliable way to store cryptocurrencies in general, and bitcoin in particular, is the so-called cold offline wallet, created on a computer without access to the Internet.
However, most cryptocurrency fans still use online wallets.
Great volatility. The price of a cryptocurrency can change at a very high speed, and it is challenging to predict something.
What cryptocurrency to buy
In addition to bitcoin, there are many other cryptocurrencies (more than 900). The creators of almost every one of them are confident that their technology is the future.
We see that at the moment, the most popular cryptocurrency is bitcoin, its market capitalization (the price of a coin multiplied by the number of coins) is more than 38.5 billion dollars.
In second place is Ethereum, with over $21.1 billion capitalization. Litecoin is in 4th place with a capitalization of about $1.8 billion.
In the short term, the price of a particular cryptocurrency will depend more on on-demand than on the underlying technology.
With an increase in the price of a cryptocurrency and its popularity, the transaction cost usually increases, and the coin becomes less convenient.