How To Exchange Cryptocurrency For Beginners
Many new users join the crypto market, because it allows for numerous opportunities to receive a profit in the short, medium, and long term. All the trading and investment processes take place on crypto exchanges. What is a cryptocurrency exchange? – It is a website or a platform where crypto holders can conduct transactions with digital assets with the purpose of taking profits in crypto.
Some crypto exchanges are too complex for a beginner trader to handle. For example, Binance is more suitable for advanced users. Here we will talk about easy-to-handle crypto exchanges for novice traders.
The WhiteBIT and Coinbase crypto platforms offer a convenient interface and the opportunity to practice demo trading. It is an account with coins designed sorely for practicing. Those coins cannot be lost or cashed out, so no matter what mistake you make, it will not lead to success or failure.
Due to demo trading, beginner users can practice elementary buying cryptocurrency, selling, and swapping and feel more confident in doing those simple actions.
How To Buy And Convert Crypto On WhiteBIT?
You can use your bank card and buy cryptocurrency if you have not got any crypto coins yet. Only legitimate and centralised crypto exchanges allow this option, for they check and verify every user before allowing access to fiat-crypto trading.
So, to buy your first crypto, you need:
- to register an account and pass verification. Usually, it takes a couple of days on WhiteBIT;
- add your bank card. Notice that every bank charges a different size of fee for crypto transactions. Make sure you know your bank’s fee policy;
- move a needed amount of dollars or euros to your account;
- go to the “Trade” block and pick an asset you want to buy and the currency you have on your account;
Once you pay the exchange fee (0,10%), clock “Trade” and you will receive coins to your account in a matter of seconds. Similarly, you can convert your crypto assets into other coins and back to fiat.