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Beginner's Guide To Buying And Selling Cryptocurrency

The popularity of Cryptocurrencies such as Bitcoin is growing at a rapid speed. It is because digital currencies eliminate the need for physical barriers such as central authorities, banks, etc. Before investing in Cryptocurrencies, you must have a clear idea about buying and selling these virtual currencies.


cryptocurrency

However, you must be familiar with two factors; one is digital wallets where you can store your Cryptocurrencies safely, and the other is Crypto exchange platforms where you can exchange digital currencies with other assets. 


For investors who are willing to gain high returns on investment, what is Cryptocurrency? can be the best option. The volatility of digital currencies offers lots of opportunities for those who want to trade on high price movements. 

What Are Cryptocurrencies?

Cryptocurrencies are digital assets that do not exist in reality. It acts as a medium of exchange between a sender and a receiver. Popular companies such as Microsoft, Overstock, Namecheap, Wikipedia, CheapAir, and various merchants have already started to accept these virtual assets as a medium of exchange. 


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One of the most popular payment methods ‘PayPal’ has already launched a new feature where people can buy and sell digital currencies on their app. This is how popular companies are supporting digital currencies. Even institutions all across the world have started accepting this asset as their tuition fee. This shows how virtual currencies are dominating traditional currencies that are issued by the government.

How Do I Buy Cryptocurrencies?

The rising benefits of Cryptocurrencies such as Bitcoin are encouraging investors and other individuals to invest in this valuable asset. Now, if you are willing to buy digital currencies, then you need a digital wallet where you can store your assets and use them to buy online goods and services. 


At the same time, there are various types of digital wallets available online, and the features of each vary. You must consider the security features of digital wallets because it truly matters a lot for the safety of your virtual assets.


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After choosing the best digital wallet, you can proceed to create an account on the exchange platform where you can buy digital currencies with other assets. The exchange platform should be highly reputable and must have high customer satisfaction rates. 

How Do I Sell Cryptocurrencies?

If you have decided to sell your Cryptocurrencies, there are various platforms you can consider. Here are the best Crypto exchange platforms to buy and sell Cryptocurrencies easily. 

i). Coinbase

Coinbase is one of the most popular Cryptocurrency exchange platforms where you can buy and sell digital currencies such as Bitcoin, Ethereum, Litecoin, Neo, and much more.


This platform also has a pro version, and it is for both beginners and experts. It has an extremely simple interface with high liquidity. Other than Bitcoins, there are various other choices left with you while selling your digital assets.

ii). Cash App

Another best Cryptocurrency exchange platform is Cash App. This platform also has an extremely simple user interface that has the ability to withdraw Bitcoin conveniently. 


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However, the fees of this platform are a bit higher than other Crypto Arbitrage exchange platforms. So, you can consider the fees of this platform beforehand if you are willing to sell your digital assets. At the same time, the features of the Cash App are excellent and admired by every new user. 

iii). Binance

Binance is another popular exchange platform that was founded in the year 2017. However, this platform mainly focuses on Bitcoin alternatives.


The best part about this platform is that it charges a low fee as compared to other exchange platforms. Before choosing Binance, keep in mind that it is geared for more advanced users. This platform allows purchases with various payment methods such as debit cards, credit cards, etc. 

iv). Bisq

One of the best decentralized exchange platforms in 2021 is Bisq. This is actually a non KYC platform with twenty-six different payment methods. So, if you are searching for how to sell Bitcoin, then this platform can be your suitable choice. 


One of the disadvantages of using this platform is that the transaction speed is low and this is the reason why many individuals avoid using this platform for selling or buying digital currencies. 

Are Cryptocurrencies Legal?

There are already several arguments regarding the legality of Cryptocurrencies across the world. However, digital assets are legal in the United States and many other countries. And many individuals are already using them for day to day transactions. 


Thus, Cryptocurrencies are legal or not depending upon each country. Some governments are allowing digital currencies, and others are not.


The Final Thoughts

So, follow the above beginner’s guide to buying and selling Cryptocurrencies in 2021. The above details are described by an expert and you must follow them accordingly. 




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