Over time, as a lot of business shifted online, a need for fast, safe, and secured digital currency was created. Researchers and scientists used cryptographic techniques to come up with a technology that acts as a medium for secure financial transactions across the network. A lot of attempts were made to come up with a solution to fulfill this need.
Bitcoin –First Decentralized Cryptocurrency
Finally, a significant breakthrough came in 2009 when anonymous developer Satoshi Nakamoto released Bitcoin. Bitcoin technology was built on robust and smartly designed algorithms that used cryptographic functions. Hence, Bitcoin became the very first cryptocurrency. The network is entirely decentralized, i.e., there is no central authority controlling the system.
The revolutionary technology changed the way of how people perceived online cash transactions. In the beginning, it was somewhat difficult for the general market to understand the working and use of Bitcoin. Still, over time more and more people adopted the technology and now Bitcoin and other cryptocurrencies and purchased, traded, and sold almost everywhere in an instant.
As Bitcoin was released as an open-source program, this became the foundation for researchers to come up with their technologies. Over time a lot of new cryptocurrencies emerged, and there are around 3000 cryptocurrencies in the cryptocurrency market with a total market capitalization of approximately $221bn.
How to Purchase Cryptocurrencies
The usual method of buying cryptocurrencies online is through online cryptocurrency exchanges. Like fiat or traditional currencies are traded over physically existing exchanges, the cryptocurrencies are exchanged over online cryptocurrency trading platforms.
You need to create an account on these exchanges from where you could buy, sell, or trade your desired cryptocurrencies.
Things to Keep in Mind before Buying Crypto
Before jumping into buying and selling cryptocurrencies, it is essential to keep check of a few things so you could avoid issues in the future.
Location: Even though it’s been a decade since the launch of Bitcoin, there are still issues of regulations when it comes to cryptocurrency trading. Before getting started, so check if your location is on the green list for buying cryptocurrencies.
Payment Methods: Different kinds of cryptocurrency exchanges accept different types of payment methods. Do check if your available payment method is listed on the exchange or not so you could buy crypto easily.
Types of Cryptocurrencies: There are different types of cryptocurrencies, before buying a specific one does check if it is available on the cryptocurrency exchange you are using.
Best Places to Buy Cryptocurrency
Some well-known cryptocurrency trading platforms offer to the trade of cryptocurrency. We will discuss the best ones based on features, safety and security.
Coinbase: Coinbase is one of the top cryptocurrency exchanges when it comes to trust, value and ease of use. The cryptocurrency exchange offers support of various cryptocurrencies that could be bought using different payment methods with few clicks.
Zb.com: ZB cryptocurrency trading platform is one of the top exchanges in the cryptocurrency market. The Chinese based cryptocurrency has very less trading fees ranging from Zero to 0.20% of the total transaction value.
Deposits are free on the network. The other main advantages and features of ZB include the acceptance of Fiat currency and the availability of various cryptocurrencies. The cryptocurrency trading platform of ZB is also quite advanced with proper charts and accurate data. The major products of ZB cryptocurrency trading platform are ZB token coin and features like ZB blockchain, ZB crypto and market maker program.
The other major crypto exchanges include Binance, GDAX and coin exchange.
Conclusion
Purchasing cryptocurrency is a risky investment. In addition to fully understanding the trading rules, it is also crucial to choose a safe and reliable cryptocurrency trading platform, as long as it can help you avoid some risks.
