✔️ Information reviewed and updated in April 2024 by Pedro Martínez González
If you want to venture into the world of cryptocurrency investment, but you don't know what steps to follow, you are in the right place. With so many options available, it is essential that you choose the one that best suits your needs. This is why we will help you know how to buy cryptocurrencies in the simplest way.
Today buying cryptocurrencies has become a wonderful form of investment, with numerous exchanges that will allow you to carry out your transactions whenever you need it. Let's see what are the best recommendations on how to buy cryptocurrencies step by step below.
➜ You will need to create a wallet
A wallet or portfolio, also known as a wallet in English, works as a digital wallet in which our cryptocurrencies will be stored once you obtain them, as well as the traditional currency (also known as FIAT money, in the world of cryptocurrencies) with which you will get them.
Within this wallet you will be able to carry out the basic operations, such as checking the status of your account, receiving and sending currencies and even having access to multiple exchanges that will allow you to obtain and sell the precious cryptocurrencies.
There are multiple wallet options, the most common being those that you can access from any device with an internet connection. Of this type of wallets, Coinbase, Exodus, Kraken, Coinomi, Enjin and Binance stand out, among others.
However, there are also other types such as Desktop where you must download the software on a device, or one of the most modern, debit cards, which are connected to mobile apps that allow the purchase and sale of cryptocurrencies in real time. .
➜ Essential data for registration in a wallet
The data required is not very different from what any online registry asks for, so they will want to know:
- Enter your personal information 🖐️
You must provide information related to you, such as your name, surname, telephone number, address, among other data of this nature.
- What are your preferred payment methods 🖐️
This is where your bank or credit card information comes into play, some also allow digital payment processors like PayPal or Skrill. This step in many wallets can be skipped if you prefer and completed later.
- Set a password and other security methods 🖐️
All wallets will require a password with a high level of security, including alphanumeric and special characters. Apart from this, you must establish a two-step verification with a code that will reach your Smartphone, easy recognition, real-time ID verification, among others.
- You will get your wallet address 🖐️
Once you have completed the previous steps, you will be able to see the address of your wallet, which is also known as a public key. This works as a unique code that will allow you to receive amounts in your account.
The public key, also known as the public key in English, It is presented in three ways:
- 🡆 Alphanumeric code
It is a unique set of alphanumeric characters that you can share to receive amounts in your wallet, an example of what it would look like would be the following: Jznot15BjUSj45Kfheuao154Ka12
2. 🡆 QR Code
Possibly the most used when it comes to sharing our wallet information for a transaction, it is made up of a dot matrix or a barcode that contains all the necessary information that we must give to the issuer. To have one of these codes it is necessary to have the mobile application of the wallet on your Smartphone or Tablet.
3. 🡆Web link or URL
It is nothing more than a link, that is, a common URL like the ones we always know, which contains the information of your wallet.
➜ Once I have my wallet, where do I buy cryptocurrencies?
Once you have your wallet, you should know how to buy cryptocurrencies and where to do it. For this you will have several options to choose from.
- 🡆 Directly from your wallet
You can buy them directly from the wallet you chose, most allow you to buy a wide variety of cryptocurrencies directly, so it is the easiest method to achieve it.
- 🡆 Using an exchange or exchange house
These are platforms where you can make any type of transaction related to cryptocurrencies, one of the best known being Coinbase. To make a purchase on these sites you must register as a user and attach a payment method as if it were any online purchase.
Once you make the purchase, they will ask you for the address of your wallet, either the QR code, the alphanumeric code or your link. It is very important that you do not make a mistake sending it, or you will lose your money, the cryptocurrencies will be sent to another wallet.
- 🡆Using debit cards
As we mentioned before, there are already Visa or Maestro cards in which you can store cryptocurrencies. These are linked to a mobile app that allows us to obtain cryptocurrencies at any time.
- 🡆 Transactions of an individual
One of the less frequent methods occurs when cryptocurrencies are bought directly from an individual, who sets the price at his convenience. However, many times you can also find very good deals with this method. If you want to dabble in this, the most popular method of doing this is through Localbitcoins, but always do so with caution.
➜ Finally, follow these tips on how to buy cryptocurrencies
Always thoroughly research the cryptocurrencies you want to invest in and which companies are investing in them. This is because most cryptocurrencies are very volatile. The safest cryptocurrency that influences the price of the rest is the best known, Bitcoin. Always keep it in mind.
Security comes first, choose the safest wallet, the one that has not suffered previously hacks and if so, investigate what they did to solve their vulnerabilities, previously we mentioned some of the most popular and secure.
Choose the transaction commission that best suits your needs, most exchange houses charge an additional commission for managing or exchanging currency. So you should always be careful not to pay too high commissions that affect your financial assets.
With all this, you will be ready to venture into the world of cryptocurrencies, we hope that the guide has been useful to you to know how to buy cryptocurrencies easily. Venture into all the possibilities offered by obtaining digital gold, which is a new and very interesting way to save money, and also generate it.
Very good explanation, it has clarified my doubts and I have understood it perfectly! Thank you!!