Contents of this article:
Investing in cryptocurrency is a popular way of investing. But it is important to remember that cryptocurrency rates sometimes change rapidly, and in total they can fall significantly. Pay attention to promising coins to understand where it is better to keep money now.
Which crypto is better to keep money in in 2022If you are already actively interested in crypto and are wondering what and where it is better to keep money, you probably know about the top most popular coins. Today everyone is talking about Bitcoin, Ethereum, Binance Coin, Solana, Axle. These are one of the most popular assets that have long taken a strong position in the market. For example, Bitcoin is a legend of the market, the first coin, released in 2009. The Bitcoin issue is 21 million coins, which allowed its rate to grow by thousands of percent, and today it is often used as a tool for long-term investment.
If you are thinking about what is the best way to keep your money in 2022, it is not necessary to choose only the most popular and sensational coins.
Pay attention to promising and yet inexpensive projects available to most:
It is also important to think not only about where it is better to keep money, but also how to minimize risks. You will lose funds if expectations are not met, and the course of the selected coin sags. It is worth diversifying your investment portfolio, that is, investing in several different assets to compensate for losses and preserve capital.
How to store cryptocurrency
We figured out where it is better to keep money, now it’s worth choosing a place to store the crypt. All services used by investors for storage can be divided into two groups: custodial and non-custodial. The differences between these classes are not obvious at first glance, but noticeable in real use.
The fundamental difference between custodial and non-custodial wallets is the way the key is stored. If you have chosen a custodial service, private keys are stored in the system itself, you have a password for access and you receive codes via message or e-mail. If you are using a non-custodial service, the private keys are kept by you.
Advantages of custodial wallets:
- fast access;
- wide functionality;
- high level of security;
- high-quality technical support.
Disadvantages of custodial wallets:
- low anonymity;
- the cost of transactions is higher;
- there is a risk of restrictions on assets.
Advantages of non-custodial wallets:
- high anonymity;
- low cost of transactions;
- full control over the crypto.
Disadvantages of non-custodial wallets:
- more complex authorization;
- the key cannot be restored in case of loss (for example, if you forgot and did not save it on media).
How and where to buy
Buying cryptocurrency can be a solution if you are wondering, what is the best way to keep your money during devaluation. Crypto has low devaluation risks and high liquidity unlike regular currency, which is guaranteed to depreciate over time.
You can buy crypto in different ways: on cryptocurrency exchanges, online exchangers, P2P platforms, offline exchangers, through intermediaries. Buying on popular exchanges is one of the best options; it’s simple, fast and secure. For example, you want to buy an Ethereum coin on the Binance exchange.
You need to:
- Create an account on the exchange.
- Enable two-factor authentication.
- Pass verification to confirm your identity.
- Go to the “buy cryptocurrency” section.
- Select a purchase method, such as using a debit or credit card.
- Select the coin and currency in which you will pay.
- Enter bank card details.
- Confirm purchase.
- Transfer the purchased crypto from the exchange to your wallet.
It is the easiest way to buy crypto, but not earn money on it. If you want not just to buy a coin, but to invest profitably and start earning, you should learn.
You will understand what is the best way to keep money, how to analyze an asset and choose a promising cryptocurrency, how to make money on trading with minimal risks by joining the Crypto Crew community.