How to Buy Cryptos
If you've decided you want to invest in cryptos and you haven't the faintest clue on where to begin, you're in the right place!
For those who are investing in cryptos for privacy reasons, specific steps must be taken to maintain complete anonymity. Privacy-minded individuals should read The Art of Invisibility by Kevin Mitnick prior to creating any exchange account(s). Additionally, privacy-minded folks should take a serious look at DeepOnion, Monero, & Zcash.
For most people, however, buying cryptos is a fairly straightforward exercise. You simply need to register with an exchange and then fund your account with either a wire transfer or (in some cases) a debit card. Most exchanges make this process relatively simple. For US Residents, Coinbase is one of the easiest exchanges to use. Note, that, for Coinbase users, you should also register for a GDAX account (GDAX and Coinbase are associated) and do your trading and transfers through GDAX if you'd like to avoid most/all transactions fees.
Notably, you can almost always fund an account at an exchange with something besides your standard wire transfer or debit card by funding the account with cryptocurrencies.
If, for example, you want to buy Ripple (XRP) on Poloniex, but you don't want to use a wire transfer (there are often high fees for wire transfers), you can buy Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC) on Coinbase and then transfer your BTC, ETH, or LTC from your Coinbase account to your Poloniex account. You could then trade your BTC or ETH directly for Ripple (XRP) without having to first convert the currency to cash. Each exchange has different trading pairs available and some exchanges do not allow trading pairs at all.
Once you've funded your first account, this will all seem much simpler. Just make sure you're always using the correct deposit address!
To find an exchange, click HERE to see a list of our favorite exchanges.
Click HERE for a COMPLETE LISTING of cryptocurrencies and EVERY EXCHANGE they are currently being traded on!!!! For those who are wondering, the link is: https://coinmarketcap.com/currencies/volume/24-hour/
- How to Buy Bitcoins with Bank Account or Bank Transfer: https://www.buybitcoinworldwide.com/buy-bitcoin-bank-transfer-account/ (last accessed Jan. 11, 2018)