Buying Cryptocurrency With Fiat

Many people are thinking about investments. One of the most profitable options to invest in is crypto assets. They stand out with their high price volatility. That is, the prices may change many times within one day, not even mentioning sharp drops and skyrocketing in the long term. To succeed in such an unstable market, you should learn it thoroughly and understand how trading strategies work and the factors of price changes.

If you are only beginning your journey in the crypto world and don’t know how to buy cryptocurrency, this article will be helpful. 

Cryptocurrency Exchange As The Main Space For Trading 

If you have not got any crypto yet, you should begin with something. Buying crypto with cash is possible on large platforms:

  • Binance – the world’s biggest service for working with crypto
  • WhiteBIT – the largest cryptocurrency exchange in Europe 

Let’s consider how it works on the WhiteBITplatrofm. To buy your first crypto asset with fiat, you should first register on the exchange. If you want to use all the platform advantages, you should pass the KYC verification procedure. It stands for “know your customer”, and it enables the protection of the exchange and users’ funds from fraudulent activities.

Next, register your account on the platform. Then add your bank card (it will allow buying crypto with cash)and deposit your account. 

The next step is to place the order on buying a digital asset. There will be a sector where you should pick the coin you wish to purchase and the asset you want to sell. In our case, you pick the fiat currency you deposited into your account. Make sure you know the size of the commission you will have to pay for the transaction as well as the bank fee. Note, if you are a Monobank client, the fee is zero.

Those steps are easy to make; in a couple of minutes, you will have your first crypto in your account.