The cryptocurrency market right now is definitely exciting. With popular coins experiencing all-time highs and more investors showing their support, the crypto market is also becoming much more stable making it a great time to invest!
If you’re interested in growing your money through crypto, here are the basics of buying and selling that you need to remember:
Choose a Crypto Wallet and Create an Account
A crypto wallet is the most essential tool for buying and selling crypto coins or tokens. This is where you will “store” your digital currency, with a private key that serves as your proof of ownership.
There are two main types of crypto wallets: a cold wallet and a hot wallet. A cold wallet is a hardware-based digital wallet. In essence, it’s like a flash drive for crypto. A hot wallet, on the other hand, is a software-based digital wallet. In short, it’s an app that allows you to buy and sell crypto—just like Maya.
Set Up Your Wallet
Once you’ve chosen a crypto wallet, it’s time to set up your account. It’s so much easier to do this with a hot wallet, since all you need is to provide a username and password then activate 2FA. Some hot wallets also exist within apps. For example, Maya Crypto allows you to use your Maya wallet to top-up, cash in, exchange, trade, and cash out all within the same e-wallet platform you’ve come to know.
Cold wallets are a little more complicated to set up, but you can find guides online if you want to create your own.
Choose an Exchange
Once your wallet is properly set up, the next step is to choose an exchange. This is the marketplace where you can buy and sell crypto coins or tokens. Not all exchanges will have the one you want but you can be sure that popular cryptocurrencies like Bitcoin and Ether will be in most if not all exchanges.
Of course, be sure to do your own research and look for an exchange that’s reputable and secure to protect your investment.
Start Buying and Selling
Once you finish setting up, all that’s left for you to do is to start investing. The process may differ slightly depending on your crypto wallet and your chosen exchange but the actual steps remain the same: choose a cryptocurrency, indicate your preferred amount, then press the “Buy” or “Sell” button or whatever the equivalent is.
If you’re on the Maya interface, just tap on the “Buy” or “Sell” button, choose your preferred cryptocurrency, then input how much you want to buy or sell.
References:
How to Buy, Sell, and Manage Bitcoin (pcmag.com)
Get Started on Binance Lite to Buy and Sell Your Crypto | Binance Support
Beginner's guide to buying and selling cryptocurrency (telegraph.co.uk)
