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5 key points to start investing in cryptocurrencies

cryptocurrency cold storage

The cryptocurrencies, digital assets characterized by their security, decentralized character, favorable privacy and transparency in transactions, and that since its appearance in 2009 have been revolutionizing the world of finance; seem to be one of the most disruptive technologies of the last time, because they offer endless possibilities of commercial development cryptocurrency cold storage.

However, even up to this point (almost 10 years later), it is completely normal that you do not know what are the key points to take into account to make your first purchase of cryptocurrencies or start investing in them.

For this reason, we gathered the 5 key points to make a purchase of cryptocurrencies in an informed manner.

Choose which cryptocurrency you want to invest in

Currently, in the market there are more than one thousand types of cryptocurrencies, starting with Bitcoin, with the greatest relevance and history, including Ether (the native cryptocurrency of the Ethereum protocol) and Litecoin among the most relevant. Cryptocurrencies differ in their price, protocols or rules that govern them and usability, among others. Buda.com offers the option to buy and sell four of the most recognized and reliable cryptocurrencies worldwide: Bitcoin , Ether, Litecoin and Bitcoin Cash .

Decide how much you want to invest

The second step is to know how much you are willing to invest in cryptocurrencies a week or a month. It is advisable to separate the amount that you want to invest, and pay special attention to what is the most appropriate time to make the investment. If you plan to invest in the long term, the timing may be less relevant. Because these types of assets are still characterized by high price volatility, we recommend allocating a budget that does not affect your pocket.

Sign up to get a cryptocurrency wallet

An electronic address is needed to store the cryptocurrencies that will be purchased. There are different types of wallets, according to each type of cryptocurrency. Most of them are free and easy to find, looking for “cryptocurrency wallet” in the app store. Also some cryptocurrency exchanges have the wallet service.

Join a cryptocurrency market

Once you have a wallet, you have to join a cryptocurrency market, since that is where the transactions are going to be made. This is an online platform where you can buy and / or sell cryptocurrencies. Ideally, you have to choose one with a good reputation, a large number of users and that has high liquidity (many buyers and sellers)

Buy your cryptocurrencies

After creating an account in a cryptocurrency market, it’s time to start buying. In general, most platforms are quite friendly to do both the purchase and the withdrawal of cryptocurrencies.

However, if you have not yet made the decision to start investing in them, it is ideal to start with knowing the financial environment and the terms used in the day to day. In this sense, words such as Blockchain – which is the technological platform on which all types of transactions are recorded and recorded – or Mining – electronic mechanism through which new cryptocurrencies are issued – are some of the words you can begin to know for help you in the process:

It is important that people who are interested in investing in cryptocurrencies understand and understand the various mechanisms and functionalities of cryptocurrencies so that they can make an informed investment decision.

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