After businessman and owner of Twitter platform Elon Musk announced that the Twitter platform logo would be replaced by the Dogecoin cryptocurrency logo, Many of us are looking for the best digital currencies to invest in. We also search for the best sites and platforms through which these currencies are bought and sold. Also, we are confused and don’t know where to start.
Many of us are wondering how to buy and sell digital currencies in light of the many options to buy them at the present time, It can be difficult to choose the best option for you. So, in this article, we will present to you the way to buy digital currencies in three ways that are considered the most common in 2023.
Conditions that govern your decision when buying cryptocurrencies:
- The appropriate payment method for buying cryptocurrency:
There are many payment methods through which digital currencies are bought and sold. Of which: credit card, bank transfer or even cash, As different websites accept different payment methods, So you will need to choose a website that accepts the payment method you want to use. - The type of digital currency you want to invest in:
Not all digital currencies are available to buy from the site you want to buy from, So you have to find a website that offers the digital currency that you want to buy. - Commission of the site you want to buy from:
Each cryptocurrency buying and selling site charges a different commission from the other site, So you must make sure of the commission of the site you want to buy from before creating an account on it so that you do not waste more time registering and confirming a new account on the site, and in the end you discover that its commission is high and you do not want to use it. - Your financial ability to invest and buy digital currencies:
As with any investment, You should not invest more than you can afford, You should carefully study your financial ability to invest in digital currencies before you start buying them.
Conditions to be followed to buy and sell digital currencies:
Before you can buy cryptocurrency you must do the following:
- Register on sites and platforms to buy cryptocurrency with your real information, Never use fake information, where your real information includes your full name, e-mail address and mobile phone number, and so on.
- Verify your identity as you will usually need a passport / driver’s license to confirm your identity.
- Then, You will be asked to set up two-step verification, This step helps to keep your account safe from hacks that happen to your account with the aim of stealing your digital currencies.
note: All cryptocurrency buying and selling platforms charge 1-4% commission.
Once you create your account, You can start buying coins and selling digital, Cryptocurrency buying and selling platforms are similar to stock and currency trading platforms, where you can buy and keep your digital currency, Or you can exchange it for another currency.
How to buy cryptocurrencies from online broker platforms?
The following factors must be present to purchase cryptocurrencies from these sites:
- To check the security of the exchange, This is the most important thing to consider before starting the buying process.
- transaction fees, where the less, The more the better.
- number of payment options available, Do they accept bank transfer, credit card, PayPal, etc.?
- the amount of time it takes to activate your account, If you are in a hurry, You may not want to wait long for verification!
- What cryptocurrency options do they offer, for example, If you want to buy NEO coin, You need to make sure that the site you choose is selling NEO coin.
3 Easiest Ways to Buy and Sell Cryptocurrencies
1- Purchasing through local intermediaries in Arab countries
In every Arab and foreign country, there are also individuals or shops specialized in money transfers who have added to their basic work in traditional money transfers work in the field of buying and selling digital currencies of all kinds, You, as an investor or a normal person, can buy any amount you want of any digital currency, whether it is Bitcoin, Litecoin, Ethereum or Dash.. Etc. from multiple digital currencies with ease.
The purchase process is done by paying a cash amount of the value you want to invest in and buying digital currencies for the broker, whether you are an individual or a company specialized in remittances and asking him for the digital currencies you want to buy.
How is the process of receiving digital currencies?
After paying the cash amount to the broker in exchange for the cryptocurrency, the broker will ask you for addresses called the addresses of the cryptocurrencies to which it will transfer, It is a very long address provided by the electronic wallet that you, as an investor, deals with for each digital currency provided by this wallet, For example, Bitcoin has a different wallet address than Litecoin. It is different from Ethereum. And so on.
After the broker receives the address of the currencies you want, he will log into his wallet and send the amount of currency that corresponds to the money you paid to him after deducting his commission that you agreed upon in advance.
2- Buying and selling through cryptocurrency trading platforms directly
This method is also considered one of the easiest ways to buy and sell digital currencies. It is used by all people who want to buy and sell digital currencies in the current 2022, There are a lot of platforms through which cryptocurrency can be bought and sold.
3- Purchasing through digital wallets
There are many digital wallets that enable you to exchange digital currencies and buy them directly inside and then transfer them to other brokers and get money in return for them in your hands, Among the most famous wallets through which we can buy and sell digital currencies, which allows an exchange between currencies by buying and selling them.
There are many ways to buy and sell digital currencies in 2023, but these methods are considered the easiest and most popular ways to buy and sell digital currencies at the present time. It is used by thousands of people around the world.
