If you google where to buy cryptocurrency the chance is big to land on a broker website. On a broker site you can’t actually buy the coins, but you can set money on either if its share price goes up or down. So, if you think the currency rate for bitcoins goes up, you place some money on buy and in case it actually goes up you have to close your “bet” to get the reward payed out. If you were wrong you lost your money.If you think the rate goes down you place your money on sell…
But to actually become an owner of cryptocurrency you have to register on a market place site. There are lots of them and they all offer the big ones like bitcoin. If you’re interested in a less popular currency you have to check which site does offer it to buy. Also to consider is their offered buying/selling rate, fees and limits. The following are some of them: Bitstamp, Coinbase, Kraken, Binance, Bitpanda, Polloniex.
Personally, I suggest Bitstamp, if your looking into buying one of these currencies: Bitcoin, Bitcoin Cash, Ether, Ripple, Litecoin. They have very low fees and offer a good buying rate.
After you have made your decision you will have to register first by entering your email address and a password of your choice. After you have verified your email address you will have to verify your phone number on most of those sites. And then comes the most annoying part, the identity verification and address verification. for that you will have to upload your ID and some proof of residency. After you have uploaded everything needed, it could take anywhere between 2 days and 2 months until you're verified. But once this is done, you are ready to buy and sell cryptocurrencies.
The next post will be all about Wallets.
