How to Buy Cryptocurrency using Trading Platforms
How to Buy Cryptocurrency using Trading Platforms
Once you get your online wallet set up, you now have to register at a cryptocurrency trading platform website to buy and sell before proceeding to make money with cryptocurrency. Most trading platforms will give you a price history of each cryptocurrency you are looking at from minute-by-minute play all the way to an annual performance chart.
Like the wallet, you will go through an ID verification process when looking at how to buy cryptocurrency. From there, you can buy cryptocurrency directly from fiat currencies to get you started. Then you can also buy and sell cryptocurrencies with your existing cryptocurrency.
Some countries closed their doors to cryptocurrency trading all together.
Does that mean cryptocurrency itself is illegal? Not exactly. It’s simply just a new concept. Because it’s so new, hurdles like how to tax cryptocurrency, how to prevent scams and several other things that concern some government institutions must be dealt with. In time, many investors believe that most fears of the cryptocurrency industry and the government will dissolve.
But in the meantime, look into your country’s rules. If there are certain regulations that your government requires for investing and tax purposes, it’s best to know and follow these. However, if cryptocurrency is banned in your area then hopefully that will change soon!