Cryptocurrencies like Bitcoins are on the rise, and if you would like to join this growing trend, you might be wondering what the best way to acquire your coin is.
This article will present you with the best methods to pay for your crypto and provide information on the best cryptocurrency for beginners.
Crypto Debit Cards
Your money is always available for you to spend on goods or services. Cryptocurrency debit cards are one of the most convenient ways to buy cryptocurrency. Purchase your favorite crypto at an exchange, and then use your virtual card to withdraw funds from any ATM.
The best cryptocurrency debit card we have found is the Bitpay Visa Card. It is accepted anywhere Visa is accepted, and it allows you to buy Bitcoin, Ethereum, and Litecoin with any currency. It also comes with a free app that lets you manage your spending.
Even though crypto debit cards might be the easiest way to buy crypto, they still require you to have the cash to spend it.
Also Read: 5 Important Terms Related To Bitcoin
Exchanges like Coinbase allow you to use a credit card to buy Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The transaction is instantaneous and does not require any verification.
All you need is a government-issued ID and a credit card. You also might get a discount on your first purchase, making it an even more attractive option.
Since Coinbase is an established entity with a proven track record of security, it is the most convenient way to enter the crypto world. Many new users get started this way, but once they understand the technology behind cryptocurrencies like Bitcoin and Ethereum, they usually look for something more advanced.
It’s worth mentioning that advanced (and brave) users sometimes try to multiply their crypto by playing popular crypto slots. The return to the player is ca. 95% of the money that is wagered. Sounds promising, doesn’t it?
Purchasing Cryptocurrencies With Fiat Currencies
Once you feel comfortable purchasing cryptocurrencies with fiat currencies, you can start investing in other coins. You can do this by visiting exchanges like Binance, KuCoin, or Bittrex. These exchanges offer hundreds of cryptocurrencies that can be purchased using Bitcoin or Ethereum.
As you will see from our list of the best cryptocurrencies for beginners, some of these coins provide additional features that make them stand out from the crowd. This includes coins like ZCash, which are highly secure, or Litecoin, which offers faster transactions.
To trade on exchanges like Binance, you will need to verify yourself by providing personal information and proof of address. Once you have done so, depositing funds will only take a few minutes.
Buying Cryptocurrencies with Other Crypto Currencies
If you already own some coins, you can exchange them with other cryptocurrencies on exchanges like Shapeshift or Changelly. These sites offer conversion services that are almost instant and free of charge.
When purchasing cryptocurrencies with other crypto coins, the most important thing is to make sure that you are dealing with reputable exchanges that have been around for a while and have ample positive feedback from previous customers.
Most Popular Cryptocurrency People Buy: Bitcoin
Bitcoin was the first cryptocurrency to hit the market, and it has become the most popular digital coin by far. Even though its popularity is diminishing as newer coins hit the market, it is still an attractive option for investors looking for a solid long-term investment opportunity.
What makes Bitcoin unique? First of all, Bitcoin was the first cryptocurrency ever to be created. It is also the most popular cryptocurrency by far since it accounts for over 50% of all cryptocurrencies’ total value. Whenever people talk about digital currencies or blockchain technology, they almost always refer to Bitcoin first.
Due to its success and growing popularity, many companies have started accepting Bitcoin as a form of payment. Overstock and Expedia are just two examples of large companies that use Bitcoin as a payment method on their websites.
The main reason why Bitcoin has become so popular is its decentralized nature. Bitcoin has no central authority or go-between who regulates it and controls it.
The supply of Bitcoin is controlled by an algorithm that limits the release of new coins to a fixed amount (21 million). This means that there is no need for banks or other financial institutions that could decide to limit your access to your funds at any time.
The average transaction fee for Bitcoin is currently just a few cents, which makes it very attractive for merchants looking for a cheaper alternative to current payment methods like Paypal or credit cards.
Reasons why Bitcoin has become so popular:
Easy To Use
You can send Bitcoins from one person to another without going through a bank or a payment processing service. All you need is an internet connection, and you can start sending Bitcoins from one person to another almost instantly!
Bitcoins are secured using cryptography, hence the name cryptocurrency. Since cryptography is used to secure your funds using private keys, there is no way for anyone else to access them unless they have control over those keys.
Impervious To Government Interference
Bitcoin transactions cannot easily be blocked or interfered with by governments or banks because they happen directly between individuals in the same way that peer-to-peer file sharing works. This means no middlemen involved who could block your transactions due to political pressure or other reasons.
Although any government body does not regulate Bitcoin in any jurisdiction, this may change in the future as more countries start regulating cryptocurrencies like they do fiat currencies and foreign exchange trading today.
What If Someone Gets Access To My Private Keys?
If someone gets access to your private keys, they will have access to all your funds as well. This might sound scary, but since your private keys are kept on local wallets on your computer or phone, it is pretty tricky for someone else to get access to them without your permission.
The only way you can lose access to your funds is if you accidentally delete them from your wallet or if your device gets damaged or destroyed. You should always keep backups of all your wallets if something happens.