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How does buying cryptocurrencies work in 2021?
The cryptocurrency market is in a very sweet moment, which has allowed hundreds of thousands of investors to make huge profits in recent years. Particularly, cryptocurrencies have traded extraordinarily bullish since March 2020, when they began a huge climb in the market and increased in value more than twentyfold in some cases. This was especially clear in the case of Bitcoin, which was priced at around $3,000 in March 2020 and surpassed $65,000 in May 2021. This not only allowed investors to make very generous gains, but also pushed the entire cryptocurrency market along with it to reach figures never seen before.
Bitcoin’s leadership in the cryptocurrency market is undeniable, but lately its position is no longer as predominant as it used to. Other cryptocurrencies such as Ethereum or Cardano keep growing and improving their blockchain at a pace that was unthinkable a few years ago, attracting an increasing number of investors, and reaching a market capitalization that few could have imagined not so long ago. Far from being a one-trick pony, the cryptocurrency market is proving to be a very solid environment in which to invest. It keeps growing year after year, and has excellent foundations to become a completely viable environment where we can carry out all sorts of economic transactions on a regular basis.
Let’s then review more in detail what is the cryptocurrency market, what are the main keys to its great profitability, and what you should look out for when investing in cryptocurrencies like Bitcoin, Ethereum or Cardano. We will also explain what are the main trading platforms in the cryptocurrency market, what features must a cryptocurrency exchange have to be profitable and secure, and how you can invest in Bitcoin and other cryptocurrencies easily and with the best guarantees.
What is a cryptocurrency?
Let’s start with the most essential and see first what a cryptocurrency is. Cryptocurrencies are a form of digital money that is completely decentralized. This means that no bank or government can control a cryptocurrency such as Bitcoin, for example, in contrast with the dollar or the euro, which are subject to the regulations of several public institutions.
This also means that cryptocurrencies can avoid the abusive fees established by banks when making value transfers. In the crypto market, these fees are managed automatically by the cryptocurrencies themselves, and often translate into profits for the users who share their computing power to the cryptocurrency ‘blockchain’, i.e., the coding that allows cryptocurrencies to operate.
In short, a cryptocurrency is a currency that has no physical form – that is, no banknotes or coins -, operates entirely digitally, is managed by its users, and cannot be controlled by any public or private institution. This allows cryptocurrencies such as Ethereum to be much more efficient, secure and profitable than fiat currencies, which is why so many people want to invest in them.
Is buying cryptocurrencies complicated? – Not anymore!
Cryptocurrencies started trading in 2009, and, during their early years, buying cryptocurrencies like Bitcoin was really difficult. It required advanced coding skills only available to crypto specialists such as Vitalik Buterin or Hal Finney, who were among the first cryptocurrency founders and users.
Soon after, the first cryptocurrency trading platforms began to emerge, which made it much easier to invest in cryptocurrencies for the general public. However, these platforms were still very rudimentary and, in the case of some like Mt. Gox, had very poor security. This led to very severe hacks that ended up compromising the funds of millions of crypto users.
However, all these problems have been left behind, and now we can trade on extraordinarily secure and functional cryptocurrency platforms such as CRYPTO BROKER. Today, more than 20 million people trade on CRYPTO BROKER to buy or sell cryptocurrencies and other assets such as stocks or foreign currencies, enjoying the perks of a truly intuitive, easy-to-use, and very safe trading environment.
Here’s how to buy cryptocurrencies with CRYPTO BROKER in 3 easy steps
You can easily buy cryptocurrencies on CRYPTO BROKER by following the steps below. It won’t take you more than a few minutes, and you can do the whole process comfortably from any computer or smartphone:
1. Register your account
To start buying cryptocurrencies with CRYPTO BROKER, the first thing you should do is go to their registration page, where you will find a short form to fill in with your details. Enter your desired username, password, and email address. After that, CRYPTO BROKER will send you a verification email.
Confirm the email to gain access to CRYPTO BROKER’s trading platform for the first time, and then you can move on to the next step – funding your account.
2. Top up your account
To trade cryptocurrencies, you will need some funds to trade with. To fund your CRYPTO BROKER account, go to the ‘Deposit Funds’ button at the bottom left of the screen.
When you click on it you will see a pop-up menu where you will be able to select the amount of money you want to transfer to your CRYPTO BROKER account, as well as your preferred payment method. You can choose from a wide variety of payment methods, including PayPal, Rapid Transfer, Trustly, Neteller, Skrill, and many others.
Once you have set your preferences, click on the ‘Deposit’ button to complete the transfer, which, in most cases, will be credited in just a few minutes. Please note, however, that bank transfers can take longer, so it is better to choose other methods such as debit or credit cards, which are faster.
3. Buy cryptocurrencies
As soon as your CRYPTO BROKER account is funded, you will be able to buy cryptocurrencies. To start trading on the crypto market click on the ‘Discover’ button on the left side of the screen.
This will show you a selection of all the assets that CRYPTO BROKER has available. With CRYPTO BROKER you can also invest in foreign currencies, or even stocks from companies such as Airbnb, Apple, Microsoft, Coca-Cola, and many others. Everything is categorized in a navigation bar that you will find at the bottom of the screen.
We want to buy Bitcoin, so let’s click on the ‘Cryptocurrencies’ button on the navigation bar. You will then see on your screen all the cryptocurrencies that CRYPTO BROKER has available. The first on the list will be – of course – Bitcoin. Let’s click on it to see all its data.
As you can see from this menu, Bitcoin is trading very well in the cryptocurrency markets. Here you will have access to a lot of information about Bitcoin, not just the price charts, but also the market capitalization, and even a complete technical analysis that you won’t find on other platforms.
It looks like an excellent time to buy Bitcoin, so let’s click on the ‘Invest’ button to start the purchase. This will show us a pop-up window where we will be able to set the amount of money we want to invest in Bitcoin.
As soon as you have everything ready, click the ‘Execute trade’ button, and then you will have bought Bitcoin for the first time. Congratulations! You have finally entered the cryptocurrency market, and from now on you will be able to follow your investment in the ‘Portfolio’ section, on the left side of the screen.