If you’re thinking about investing in cryptocurrency, it’s only natural to be wary of the risks involved. After all, this is a new technology that many people have never even heard of before. But if you’re willing to take some precautions, it can be safe to invest in cryptocurrency.
This post will show you some reliable places you can safely invest in cryptocurrency and how to go about it.
First, Is It Safe to Invest In Cryptocurrency
It’s not just a question of whether or not you should invest in cryptocurrency, but how much. Cryptocurrency is still an emerging asset class, so it comes with more risk than traditional investments like real estate or stocks.
That means while there are great opportunities to make money – you can double your investment in just a few years if you buy the right coins at the right time, there are also downsides and potentially devastating losses if you get into this market too early or make bad decisions about where to put your money. Take your pick from a wide selection of payment options to buy tether.
The best way for new investors to approach crypto is by investing small amounts of money that they can afford to lose entirely if things don’t work out as planned. The point here isn’t so much about protecting your funds from theft (though that does happen) but rather making sure you aren’t risking any significant portion of your net worth on a volatile asset class that could drop overnight.
But if you think cryptocurrency fits well in your cryptocurrency, it might be a great place to make some reasonable investments. So, let’s take a look at 5 of the best cryptocurrency exchanges and platforms where you can safely invest in crypto.
Where to Safely Invest In Cryptocurrency
#1: Coinbase
Coinbase is a US-based cryptocurrency exchange that can be used to buy and sell Bitcoin, Ethereum, Litecoin, and other major cryptocurrencies. It’s one of the most popular cryptocurrency exchanges in the world, with more than 10 million users. Coinbase has a mobile app and web app for your phone or computer so you can trade on the go or at home.
The user interface on Coinbase is very simple to use – it looks like an online banking site, and it makes buying Bitcoin super easy. All you need to do is link your bank account to your digital wallet on Coinbase (this takes no more than five minutes). You can also buy other cryptocurrencies through this process if you want other types of coins in your portfolio, as well as Bitcoin!
Furthermore, you can earn cool interest on your USDT and also earn token rewards when you complete various activities on the platform.
#2: Anycoin Direct
Anycoin Direct is another crypto exchange you can trust when looking for where to safely invest in cryptocurrency. It is a Netherland-based platform that has been around for quite some time. It is secure, fast, and has a really simple interface.
When you exchange your crypto on Anycoin, you will be paying a very low fee on your transactions. The platform also allows you to earn various rewards using the platform. Having more than 30 different tokens to trade with, you can be sure the platform got you covered on any type of asset you want to trade with.
#3: Kraken
Kraken is a US-based cryptocurrency exchange that specializes in bitcoin, ether, and other cryptocurrencies. It’s one of the oldest exchanges in the world, having been founded in 2011 by Jesse Powell, who was previously an employee at Mt Gox.
Despite being based out of California, Kraken also has offices in both Japan and Europe. It offers users a large selection of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, as well as hundreds more altcoins.
Kraken is considered one of the most reliable exchanges out there, with many satisfied customers who have been using it for years without encountering any problems whatsoever!
Kraken’s reputation for being secure can be attributed to its high level of encryption which keeps all user funds safe while they trade on this platform. In addition to this level of security, Kraken offers users multiple options when it comes to depositing money into their accounts: wire transfer or via credit card payment processing solutions like PayPal or Skrill (Moneybookers).
#4: Voyager
Voyager is a cryptocurrency exchange based in the United States. Voyager supports a growing number of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Stellar Lumens. It also features margin trading and lending.
If you’re looking to invest in cryptocurrency but want to avoid the risk involved with owning digital tokens directly, Voyager is one of the best options out there.
#5: Uphold
Uphold is a place to store your cryptocurrency, and it’s also a safe place to invest in cryptocurrency. It’s secure because Uphold uses bank-grade security systems, and all transactions are guaranteed by the US FDIC, so you know that your money is safe and sound. You can use Uphold to buy, hold and convert to other currencies like Bitcoin or Ethereum without fees or surcharges – and all from one account!
How to Safely Invest In Cryptocurrency
Choose a cryptocurrency wallet
Before you invest in any cryptocurrency, you need to choose a wallet that supports the currency. You should also make sure the wallet has all of the features that you want, such as being able to store your cryptocurrency offline (in so-called cold storage) or having options for different types of transactions. You’ll also want to find a wallet with an excellent reputation and good customer service.
Choose a cryptocurrency exchange
Now that you’ve chosen your wallet, it’s time to select a cryptocurrency exchange. We have highlighted 5 of them above. But that’s not all that is; there are many different types of cryptocurrency exchanges out there, but the best ones will have the following qualities:
- They’re regulated by an authoritative body (like the SEC or FINRA) and/or provide proof that they are insured against losses caused by hacking.
- They have a high volume of customers and trade in high-value currencies such as Bitcoin and Ethereum. This means there will be plenty of people trading on their platform, which makes it more likely that you’ll find someone willing to buy or sell when you want to buy or sell some cryptocurrency. If you can’t find anyone interested in trading with you at all times, then perhaps this isn’t the best place for your investment plans after all!
- They offer good customer service via phone calls or email support staff who can help answer any questions about how things work on their platform (and how much money might be lost if something goes wrong).
Buy your cryptocurrency.
Once you have chosen your preferred exchange, the next thing is to buy your crypto. There are a variety of ways to buy cryptocurrency. You can use a credit card, bank transfer or wire transfer, cash and even prepaid cards, depending on what options your exchange allows.
If you’re interested in purchasing cryptocurrency with your credit card or debit card, be aware that some exchanges will only allow this option within certain countries (the United States is one example). If you live in the U.S., Coinbase is an excellent choice as they allow users to purchase Bitcoin and Ethereum using their credit/debit card.
Secure your crypto accounts by enabling two-factor authentication.
After buying your cryptos, you should take a step to secure your crypto account by enabling two-factor authentication. Two-factor authentication (2FA) is a security method that requires you to enter two or more pieces of information to prove that you are who you say you are. In other words, 2FA makes it harder for hackers to access your accounts by requiring them to have more than just your password.
Conclusion
It’s important to remember that the cryptocurrency market is still a very young one, and there are still many developments taking place. There are many risks involved with investing in this type of digital currency, but if you choose wisely and take precautions when buying it, then there’s no reason why anyone should be afraid to invest in cryptocurrency.
The key thing is to do your research before buying into any particular coin or token so that you don’t end up losing money on something fraudulent. At the same time, choose a reliable platform to invest your money!
