The most accessible place to buy cryptocurrency is through one of the many available crypto exchanges. Before you purchase, you’ll need to have the following:
In short, a crypto exchange is a marketplace where you can buy and sell cryptocurrencies/digital currencies using fiat currency (e.g. buying Bitcoin using the US Dollar) or digital currencies (e.g. trading Bitcoin for Ethereum).
An external wallet to store your cryptocurrency is strongly recommended but not essential. The wallet stores the public and private keys that enable you to be in charge of your cryptocurrencies and interact with blockchain networks. Think of them as bank accounts for your crypto. After all, cryptocurrency exchanges are prone to hacking and scandals. For example:
“Not your keys, not your coins”- Crypto folklore, circa 2009
THE CHECKLIST FOR BUYING CRYPTO. COMPLETED. ✅
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