For a beginner

What are the ways to buy cryptocurrency?

What are the ways to buy cryptocurrency?

Contents of this article:

There are many ways to buy cryptocurrency, but the main one is to choose a promising coin and reliable platform for making a deal. You should familiarize yourself with all the existing methods; learn about their features and mechanisms if you decide to make money on crypto.

Popular ways to buy cryptocurrency

Digital currency is stored in the blockchain system, it can be bought or exchanged in several ways. Today people of all ages are interested in crypto, large companies accept it as a payment for goods and services, more and more states legalize cryptocurrency and regulate its legal status. Therefore, there are more platforms for buying and selling.

Ways to buy cryptocurrencies:

  • Crypto exchanges are platforms that offer a wide range of different cryptocurrencies.
  • P2P platforms are marketplaces where crypto owners post ads for sale.
  • Online exchangers are the sites for exchanging money for digital currencies, where unlike crypto exchanges identity verification is not required.
  • Some payment systems, such as Payeer, are a quick way to buy cryptocurrencies like exchangers.

All these ways to buy cryptocurrency are reliable, they allow you to carry out the transaction quickly and without risk of losing money, unlike buying through intermediaries or offline exchangers.

Cryptocurrency exchanges that work with the hryvnia

Crypto exchange is one of the most profitable ways to buy cryptocurrency. Today there are several hundred cryptocurrency exchanges registered around the world, but not all of them support transactions with hryvnia. Pay attention to Binance if you want to buy crypto for Ukrainian hryvnia. It is one of the largest exchanges in the world with over 300 different cryptocurrencies. You can buy about 60 of them for hryvnia.

Another popular exchange supporting hryvnia is ByBit. This platform is simple and easy to use, just like Binance, it has a mobile application, a referral program, and a large selection of digital currency.

How to start trading on a cryptocurrency exchange?

The ways to buy cryptocurrency on the exchange are clear and simple even for beginners. But you need to register before buying a coin. Almost all exchanges offer a standard registration method, just like any website. The user must mention an email address, phone number and come up with a nickname and a password. You can register through one of the social networks or Google to simplify your task.

Most exchanges require verification for users. It means that you must verify your identity. You need to upload a scan of your passport on the site. Verification is required to replenish your account and perform transactions.

You need to link a digital wallet, where the cryptocurrency will be stored, as well as a bank account after creating an account.

You need to create an order – this is an application for the sale or purchase of cryptocurrency to start trading. To perform the operation you should mention in your application:

  • order type (sell or buy);
  • trading pair (what you buy and what you sell);
  • the amount of bought or sold currency;
  • price.
Attention! There are three types oforders. We recommend you to learn more about each of them before bidding.

Ways to buy cryptocurrency on Binance

If you want to buy cryptocurrency as quickly as possible, you can do it on Binance. Platform allows you to purchase crypto at the current rate. Easy way to buy cryptocurrency on Binance with a debit or credit card:

  1. Log in to your account.
  2. Select the “Buy Now” option on the main page.
  3. Select a currency and indicate the amount of money you want to spend.
  4. Choose the payment method and enter your card details.
  5. Confirm transaction by following the instructions on the screen.

Purchased crypto appears in your Binance wallet after the transaction.

There are many ways to buy and sell cryptocurrencies. But in order to trade profitably, avoiding risks, and increasing income every month, it is important to understand the rules of the market, be able to analyze it and predict. It is the thing that members of the Crypto Crew community are learning. Our mentors help students to understand complex topics and improve their trading strategies. Join and grow with us!