Nowadays, people are increasingly interested in investing in various existing instruments. They usually choose instruments such as gold, stocks, commodities, forex, and also cryptocurrencies. Moreover, in cryptocurrencies, because of its offer of very high returns of up to hundreds of percent of your capital in just a matter of days. How to buy cryptocurrency cannot be done carelessly. You must understand the steps that exist with various techniques. So this time we will discuss how to buy cryptocurrency through the explanation in the following article.

What Is Cryptocurrency

Cryptocurrencies are digital tokens. They are a type of digital currency that allows people to make direct payments to each other through an online system. Cryptocurrencies have no legal or intrinsic value; they are only worth what people are willing to pay for them in the marketplace. This is in contrast to national currencies, which derive some of their value from being recognized as legal tender. There are a number of cryptocurrencies – the most well-known being Bitcoin and Ether. Activity in the cryptocurrency market has increased significantly. Interest in these currencies appears to be more speculative (buying cryptocurrency to make a profit) than related to their use as a new and unique system for making payments. Related to this, there has also been a high level of volatility in the prices of many cryptocurrencies. For example, the price of Bitcoin rose from around US$30,000 in mid-2021 to almost US$70,000 towards the end of 2021 before dropping to around US$35,000 in early 2022. Rival cryptocurrencies such as Ether have experienced similar volatility. The incredible interest in cryptocurrencies has also seen an increase in the amount of computing power used to crack the complex codes that many of these systems use to help protect them from being compromised. Despite the growing interest in cryptocurrencies, there is skepticism about whether they can replace more traditional payment methods or national currencies.

How to Buy Cryptocurrency

There are many platforms that you can use as a means to buy this crypto asset. You can see the method below.

How to Buy Cryptocurrency on Coinbase

  1. Sign in to Coinbase.
  2. Select Buy/Sell on the top right side.
  3. Click the Buy panel to select the asset you want to buy.
  4. Enter the amount you want to buy in cryptocurrency or your local currency.
  5. Select your payment method.
  6. Click Preview Purchase to confirm your purchase (you can always click the back arrow to make changes).
  7. If the details are correct, click Buy to complete your purchase.
If you want to make this a recurring purchase, click One-time purchase and select how often you want the purchase to repeat.

How to Buy Cryptocurrency on the Coinbase Mobile App

1. Tap   Buy  in tab Home page. 2. Select the asset you want to buy. 3. Enter the amount you want to buy in cryptocurrency or your local currency. 4. Choose  Preview Buy  to review your purchase (you can always tap the back button to make changes). 5. If all the details are correct, tap  Buy now  to complete your purchase. If you want to make this a recurring purchase, tap  One time purchase  and choose how often you want the purchase to repeat.

How to Buy Cryptocurrency on Binance

  1. Create a free account on the Binance website or app.
    Your Binance account acts as a gateway to buying crypto. But before you can buy Bitcoin (BTC), you’ll need to open an account and verify your identity.
    • Register via Binance App
    • Register through the website using your email
    • Register through the website using your mobile number
  2. Choose how you want to purchase Bitcoin (BTC) assets.
    Click the “Buy Crypto” link at the top left of the Binance website navigation, which will display the options available in your country.
    For better coin compatibility, consider buying a stablecoin like USDT or BUSD first, then use that coin to buy Bitcoin (BTC).

    • A. Credit/Debit Card

      If you are a new user, this is the easiest option to buy Bitcoin (BTC). Binance supports Visa and MasterCard.


      How to Buy Crypto with Credit/Debit Card on the website


      How to Buy Crypto with Credit/Debit Card in the app

    • B. Bank Deposit

      If you are a new user, this is the easiest option to buy Bitcoin (BTC). Binance supports Visa and MasterCard.


      How to Deposit USD via SWIFT
       

    • C. P2P Trading

      Buy Bitcoin (BTC) directly from other users with Binance's peer-to-peer service.


      How to Buy Cryptocurrency on Binance P2P (web)?


      How to Buy Cryptocurrency on Binance P2P (App)?

    • D. Third Party Payments

      There are several options for third-party payment channels. Please, visit Binance FAQ to check which ones are available in your region.

  3. Create a free account on the Binance website or app. You have 1 minute to confirm your order at the current price. After 1 minute, your order will be recalculated based on the current market price. You can click Refresh to see the new order amount.
  4. Store or use your Bitcoin (BTC) on Binance. Now that you’ve purchased your crypto, you can store it in your personal crypto wallet or simply keep it in your Binance account. You can also trade for other crypto or stake it on Binance Earn for passive income.
 

How to Sell Cryptocurrency

Once you have purchased your cryptocurrency, there will come a time when you will want to sell it. Here is how to sell cryptocurrency safely.

1. Get a Cryptocurrency Wallet

For you to start dealing with digital currencies, you need a place to store them, and that’s where a cryptocurrency wallet comes in. Simply put, a crypto wallet is a vital tool for buying, trading bitcoin, and selling cryptocurrencies. They not only help in storing cryptocurrencies safely but also validate transaction information. Crypto wallets can come as either hardware or software. It is important to note that each cryptocurrency requires a different type of wallet, most wallets can store multiple types of crypto coins. Make sure to have a wallet that can accommodate multiple currencies if you want to invest in cryptocurrency trading.

2. Select Bitcoin Blockchain

Bitcoin blockchain and other cryptocurrency blockchains run on blockchain technology which is a decentralized ledger meaning that they are not controlled by a third party or financial institution. They offer secure and instant transactions where users can confirm transactions, manage fund transfers, and settle trades. Different blockchains come with different fees associated with transferring money and digital goods.

3. Select Your Currency

The pool of available cryptocurrencies has grown dramatically since Bitcoin’s debut over a decade ago. There are thousands of cryptocurrencies on the market and include Dogecoin, Ethereum, Litecoin, and more. Some may be lesser known and may not feature as much in terms of trading volume. To get the most out of your cryptocurrency trading, look for cryptocurrencies that are universally accepted and can be traded on multiple cryptocurrency exchanges.

4. Add Your Cryptocurrency to Your Wallet

Once you have opened an online wallet, you will need to store some cryptocurrency in it so you can start speculating on the market. You can start by buying bitcoin, using a paper wallet or a hardware wallet to transfer your cryptocurrency to your digital wallet.

5. Choose How You Want to Sell Bitcoin

There are several ways in which you can sell bitcoin or other cryptocurrencies. Below are some of the available options:

Cryptocurrency Exchange

Crypto exchanges or Crypto apps act as a marketplace for trading cryptocurrencies. They offer several tools like advanced analytics, strong security, easy to use features, support and offer relatively lower fees which makes buying and selling bitcoins or other cryptocurrencies easy.

ATM Bitcoin

You can use an ATM or Bitcoin kiosk to sell bitcoin. All you have to do is log in to your account, indicate how much Bitcoin you want to sell, and which crypto wallet address you want to sell it to. Once verified, you will receive a notification and can withdraw your cash.

Peer to Peer Exchange

Peer-to-Peer (P2P) exchanges are cryptocurrency platforms where users can exchange crypto privately with each other without using an intermediary. To sell bitcoin on a P2P exchange, users need to create an account and verify their identity and run the business of selling bitcoin and other cryptocurrencies.

Broker

Some brokers facilitate bitcoin sales by acting as an intermediary between buyers and sellers. The downside is that they often charge higher commission fees compared to crypto exchanges.

Face to face transactions

You can also choose to sell your cryptocurrency directly through the use of an online platform. All you have to do is choose to meet a buyer, go to a bitcoin website, create an account, verify your identity, and connect your bank account. Once you open an account, you can send the bitcoin (BTC) you want to sell to a specific Bitcoin address. Once the sale is processed, you will receive cash in your bank account. You can also s? m? l? scan a QR code ?? and call the buyer ? and make a transaction too. That's the discussion from GICIndonesia which explains about "How to Buy Cryptocurrency and the Platforms Used". You can also explore a little about other trivia discussions about bitcoin, patterns, and other world economics, such as "Getting to Know What Cryptocurrency Is, Its Advantages & How It Works" which you can also read in the GIC Journal. You also need to do it to be able to deepen some knowledge and also other trading information on GICTrade, through ebooks, or NFP live trading. And finally, don't forget to register so you can trade with GIC. Plus, you can trade with a minimum deposit of IDR 150,000!