There are many debates about buying crypto assets. Some people say this market is dead and will never return to its previous heights, while others believe it is only the beginning of the crypto era and the market is only emerging. In this article, we will discuss the positive and negative sides of buying crypto and services and where to do it.
What is a Crypto Exchange?
It is a website offering tools for crypto buying, selling, and trade. For example, if you need to exchange BTC to ETH, you go to a crypto exchange and open the position where you claim you want to buy ETH and give BTC in return. The exchange will calculate the amount for your transaction; you pay the fee and receive Ethereum in your account. Crypto platforms have different fee policies, charging fees for services they provide.
How To Trade Cryptocurrency In Financial Markets?
Exchanges can be regulated and not regulated:
- Regulated and centralized platforms that store user funds on their servers, require registration and verification and keep track of transactions. Such platforms offer a wide variety of financial tools and features. Also, they allow the conversion of fiat-crypto pairs.
- Not regulated platforms have no regulatory authority to control transactions, so such services are less protected. Since they do not require user verification, it is impossible to convert fiat-crypto pairs. Advanced trading tools are not available either.
Pros and Cons of Buying Crypto
Here are the advantages of crypto investments:
- Possibility to multiply initial investments in the shortest possible period
- No regulation on the part of banks
- Protection against inflation in the long-term
- Protection against monopoly
- Cheap and instant transactions.
Disadvantages:
- Increased risks
- Large investors manipulate the market
- Hacker attacks.
How to Buy Crypto?
To purchase digital assets, register on the WhiteBIT cryptocurrency exchange and, using the crypto converter, choose the coin you want to buy and the asset you want to give. For example, BTC to ETH. Then pay the fee, and coins will be accrued in your account instantly.
