Because of the security of web3, exchanges are more exposed to being hacked and the coins stolen. So, it’s good to search for a solid and reliable option.
You can use platforms such as Coingecko - a cryptocurrency data aggregator- to track cryptocurrency prices, manage your portfolio, research fundamentals of new projects (all projects are manually screened through), and evaluate the safest exchanges to trade.
There are great options on the market. Two of them are Coinbase and Binance.
To make it clear, follow these steps to start investing in cryptocurrency with exchanges:
To open an account at Coinbase, you must download their App at Android or iOS store;
You will be asked to give them some information, such as ID photo, email phone number, and, if you live in the US, the last four digits of your Social Security number. Then, you have to verify your identity;
Once you have an account and sign in, it’s easy. First, select buy or sell.
If you would like to buy, select the crypto and buy, for example, with your credit card.
Click Preview Buy to confirm, see all details on your screen and click buy to purchase.
If you would like to sell crypto for cash, select the crypto you want to sell, select Preview sell and sell now;
Your cash will be available in your local currency wallet. To cash out, on the button (on App is a button Cash Out, and from a web browser, it is on the section Assets);
Choose out the destination, continue and complete your transfer.
We have chosen to show Coinbase because it’s available in lots of countries. But the procedure is similar on other platforms.
Based in Europe, Kriptomat is available globally but is a good option for European investors. E-Toro is another popular option available in 60 countries, mostly in Europe and Latin America.
In Brazil, for example, Mercado Bitcoin also is easy to operate and is the biggest Latin American exchange to investing in cryptocurrency.
Comment below if you want to delve deeper into the subject.
Posted Using LeoFinance Beta