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How can a beginner invest in Bitcoin and not lose money?

04.03.2021
How can a beginner invest in Bitcoin and not lose money?

Blockchain, coins, hash rate, decentralized exchanges - the world of cryptocurrencies seems to be something complicated. Enthusiasts have gone from buying coins to trading and investing on their own, but this way is full of valuable mistakes. We have compiled a small guide for beginners, in which we explain how to buy Bitcoin and not lose money.

 

1.Make your strategy

There are only two basic ones: long-term investments or investments for a short period of time. The last one implies digital asset trading, and this will require exchanges.

Both methods have pros and cons. Storing cryptocurrency on the exchange will allow you to sell it at any time, this option helps many users during an instant change in the exchange rate. A cold wallet deprives the asset owner of such mobility and speed, but by itself it is much safer. Hacking an exchange is much easier than a wallet. Also, the withdrawal function can be disabled on trading platforms - and such cases did occur.

The best option at the start is hybrid wallets. They exist in the format of phone apps and also allow transactions with popular cryptocurrencies.

 

2.Create a wallet and an account on the exchange

The "starter kit" includes not only a wallet, but also an account on the exchange. It is better to distribute assets between them, leaving most of the funds in an over-the-counter wallet.

It's better to start with popular platforms - they can easily be found thanks to user reviews and aggregators. This reduces the risk of losing funds. We also recommend that you study the user agreements: they contain information on the resale of data, account blocking, verification, identity verification and funds withdrawal.

 

3.Buy cryptocurrency

There are several ways to buy. Firstly, after creating an account on the exchange, you can replenish the balance from your regular card and buy cryptocurrency. It is worth paying attention to the cryptocurrency and following the course. Here, as in the exchange of other fiat funds, the rule is "buy when the rate falls, sell when it rises." After the purchase, the coins can be transferred to your "cold" wallet.

Secondly, you can use the exchanger: specify the amount and wallet address on the platform, confirm the application, transfer funds, complete the transaction. Exchangers also take a commission - an average of 2% to 4%.

 

Aggregator 13Exchange will help you sort the platforms at the best rate and safely use the services. Visit our website to find out more: 

https://13exchange.com/ru

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