There are several ways to buy cryptocurrency. The most common way is to buy it on an online cryptocurrency exchange.
However, there are other methods like peer-to-peer exchanges or Crypto ATMs.
They connect crypto buyers with crypto sellers on a trading platform and take a fee for facilitating each transaction.
Crypto ATMs let you buy crypto with cash or credit card. Depending on the local legislation you can buy small amounts without any KYC.
Once you have bought cryptocurrency on an exchange, you’ll need to choose a wallet where you can securely store your coins or tokens. You can also leave it in custody of a cryptocurrency exchange but if you want to use your cryptocurrency regularly, we advise you to use a dedicated wallet. There are three types of wallets:
The provider takes sole responsibility for holding your funds for you. However, this means that users are not entirely in control of their assets.
They are wallets where the user holds the private key. Only the user can access their funds (not the provider). However, with greater control comes greater responsibility.
Hardware wallets are a special type of non-custodial wallet. They add another layer of security by keeping your private key on a specially designed piece of hardware.
Crypto-backed loans allow you to access fiat liquidity without selling your crypto assets. By using your crypto as collateral for your loan, you can receive up to 50% of the value of your assets in USD or other fiat currencies.
Crypto-backed loans can be used to do anything from paying off credit card debt to buying a home. In most cases, the loan can be accessed instantly and without much paperwork.