How to buy cryptocurrency?
July 17, 2023
If you are a newbie and even the name of cryptocurrency sounds unique and weird, it is time to figure out what cryptocurrency is and, more importantly, how to safely invest in cryptocurrency. The concept of cryptocurrency sounds overwhelming, but the fact is, it is straightforward. If you have been following our previous articles, you know what character is and how it works; you might even know how to manage risk and what risks are involved when investing in cryptos. Besides, you are familiar with blockchain technology, and you know we are talking about a highly volatile Market. Now the question is how to invest in cryptocurrency.
Stay tuned with us, Aron Groups, to find out more about how to buy a cryptocurrency and many things else.
Table of Contents
Different ways to buy cryptocurrency
When investing in cryptocurrency, the first thing to consider is the best way to buy them. There are different ways you can acquire cryptocurrencies in the market. Here you’re going to go through the different types of cryptocurrencies investing:
Buy cryptocurrency in a traditional way
Traditionally, they mean buying cryptocurrency directly from a friend, colleague, or someone you know that you can keep in touch with. In this case, you can buy cryptocurrency directly from someone else. The most important thing is to find the best cryptocurrency. It might be Bitcoin, Ethereum, or any other altcoins. Remember, no one else can directly act as an intermediary when buying capital. You are on your own. It would help if you were careful who you will trust, and remember when we are talking about blockchain; trust is a nonsense concept. But if you insist on going the old-fashioned way to buy cryptocurrencies, you must work on your trust factors and find a reliable person to buy cryptocurrency from.
The second and best way to buy cryptocurrency is to go and look for a crypto Exchange. This type of exchange or platform provides a list of cryptos and lets you choose the crypto you want. Here we are going to go through the process of buying cryptocurrency from a crypto Exchange:
Picking up an exchange
the first and most important thing is to choose a reliable crypto Exchange. We also suggest buying and selling cryptos in several crypto exchanges to find the best one since every crypto exchange provides you with a different set of services and fees you would pay a fee. You would pay fees to conduct a trade in a crypto Exchange. Usually, there are two: the taker and the maker fees, the taker and the maker fees. By making your feet, you refer to trades carried out through a limit order. In this type, you, as a Trader, would determine the specific price for your position. On the other hand, taking your feet is the cost you will pay when you place a market order. In this case, you’re not determining a fixed price, but you are buying cryptocurrency at the next available price on the market.
As a Trader who uses take your fee, you are not looking to buy cryptocurrency at the desired price. You are just playing with the market and looking for the next price.
In Aron Groups, we provide you with different accounts to help you choose your strategy and preferences. You must deposit a minimum amount of money for every account to use specific services, and the fee for every account is different. To learn more about swap fees and commissions in our brokerage, click this link.
In addition to the fee, you must look for security considerations in your favorite scripture exchange. Remember, crypto exchanges are created in different ways, and as cryptocurrency is still in its infancy, some exchanges are more reliable than others. That is why we suggest sticking with Aron Group, an award-winning brokerage in MENA that provides you with countless opportunities in the cryptocurrency market. And by doing so, you are reducing the chances of running into accounts; numerous fake exchanges on the market wouldn’t allow you to withdraw your funds or have a limited market and cannot provide you with the cryptocurrencies you are looking for. So, to be a professional trade or stick with professionals to lower the risk and multiply the profit.
Welcome to the market
Now that you have chosen your partner, it is time to enter the market gloriously. It is time to get KYC-verified statutes because we are looking to provide you with a safe crypto Exchange and to keep it safe, we need to ask you to submit some form of ID verification to create a trading account. Next, you are supposed to link a bank account and transfer the money you want to invest in cryptocurrencies. This is when you will choose to enter the market through a limit or use the market order. We suggest constantly depositing a little higher than the minimum deposit of your trading account because you may want to consider the chance of losing your fund, especially if you are new to the cryptocurrency market. Start with a small amount of money and try to weigh the market; try to understand the cryptocurrencies before going deep and opening many positions in the market.
Use demo account
Demo accounts are perfect for new Traders and even professional Traders. When you use a demo account, you’ve given yourself a chance to test and evaluate trading strategies without putting your actual money at risk. When you use a demo account, you can’t see what it is like to trade in an actual Market; what do we mean by a volatile Market when we are talking about cryptocurrencies? and you are going to get familiar with the cryptocurrency market, crypto pairs, trading strategies and risks involved in this market without spending $1.
Even professional Traders use demo accounts to test new strategies before using data strategies in the real market. Because they want to see how that strategy is functioning on the market and how reliable the source is to create that strategy in the first place, is it wise to use a demo account before trading in the actual cryptocurrency Market?
Play by the rules
first, you need to learn more about cryptocurrency rules, and you might know that there are none. It is the first lesson you should have learned when studying cryptocurrencies. There is no regulation in cryptocurrencies, but you might find some regulation on cryptocurrency exchanges. We at Aron Groups Devote all cells to providing unique and high-quality services for Traders of different backgrounds. That is why when you use our platform, you find it easy to navigate, no matter how experienced or mature you are in this market.
Please comply with the rules for depositing and withdrawals to keep the crypto exchange safe. Here You will learn about withdrawal and deposit options, services, providers, units, waiting times, and minimum and maximum amounts.
Store your cryptos
let’s say you have your cryptos at your disposal right now; you should think about a safe place to keep them safe. You can always keep cryptos in a crypto Exchange to access them faster and enter swapping trades.
But if you want to self-custody your cryptocurrencies, you need a wallet. There are so many different wallets on the market: hardware, software, and even paper wallets. You need to choose the one that suits your preferences and your trading style. For example, if you are older and tend to keep your cryptocurrencies for quite a long time, you should buy a hardware wallet; this type of wallet is disconnected from the internet and keeps your asset safer. On the other hand, if you are a day trader who would open different positions within a day, you should look for a software wallet connected to the internet and provide fast transfers.
Start buying cryptocurrency
Now you are different from the one who started this article at the beginning. You are now familiar with crypto exchanges, and you will need a platform for trading in the cryptocurrencies Market. You can use crypto exchanges Which are platforms designed to introduce buyers and sellers and provide a situation to trade cryptocurrencies. But there are cryptocurrencies Brokers as well:
What is a cryptocurrency broker?
When trading along the Aron Groups, you know you are dealing with a brokerage. Cryptocurrency brokers make purchasing cryptos much more straightforward, the interface is easy to navigate, and you can interact with the platform more freely. In some cases, cryptocurrency brokers’ fees are higher than cryptocurrency exchanges. Now that you have chosen a cryptocurrency exchange or broke here like Aron, you are ready to enter the market and install your first trade.
Create a trading account
the first thing to do is sign up to open a trading account. Aron Groups brokers have different types of accounts; after choosing the type of account, you need to verify your identity. You can trade cryptocurrencies once you complete the verification process.
Deposit into account
the next thing to do is to transfer money from your bank account to your trading account to start investing in cryptocurrencies. You can do that by linking your bank account or paying with a debit or credit card; at Aron Group, we provide different ways to deposit into your account. Choose a provider that will charge you with less fee to lower your cost.
The transfer will be verified and added to your trading account reading 3 hours to 3 working days in Aron Groups. Before making a deposit, look at the detail of your trading account type to see the minimum deposit amount for your account. Because you need to transfer the minimum deposit account to enter the market.
place an order
now that you have money in your trading account, everything is ready to place your first crypto currency order. But which cryptocurrencies you are interested in? Before placing an order, you need to choose a crypto. Big names like Bitcoin and Ethereum or more obscure cryptos like Holo exist.
After deciding which cryptocurrency you are planning to purchase, you can place your order.
Invest in crypto companies
If you are not interested in buying and selling cryptocurrencies, consider investing in companies connected to cryptocurrencies and using cryptocurrencies, and by cryptocurrencies, we mean blockchain. These companies provide tangible products or services related to the cryptocurrency market. You can buy a share in those companies that are using or owning cryptocurrencies and running their blockchains to make profits.
Remember that investing in cryptocurrency is a risky investment. The market is highly volatile, and even the most established cryptocurrencies are still experiencing substantial price movements.
On the other hand, there is no regulation in the market, but in the future, it might be affected by regulatory changes; in most cases, cryptocurrencies can become illegal. If you are planning to buy cryptocurrencies, you need to learn more about transaction Fees, trading ways, and risks involved in this market. And before buying any cryptocurrencies, choose a wallet to store your asset. Keeping cryptocurrencies safe is a challenging task.
Frequently asked questions (FAQs)
It depends on the type of cryptocurrencies you are willing to trade; for example, you can invest in Dogecoin for pennies, while you might need tens of thousands of pounds to buy Bitcoin and Ethereum. So, the amount of money you will invest in cryptocurrencies is infected by two factors: the cryptocurrency you will be willing to use and the minimum deposit The Brokerage asks you to provide.
Every New Concept has the potential to grow if the community, and by the community, we mean people, start to notice it. In this case, the supply and demand will lead the market. Cryptocurrency is unpredictable and highly volatile. Cryptos can make you rich overnight Or witness your asset lose value.
To open a crypto account, visit the Aron Groups website and follow the registration process. After verifying your identity and submitting the required information, you will be provided with the trading account.