WHERE DO I BUY CRYPTO CURRENCY?
This is definitely the question on the lips of every beginner, it confuses beginners and it’s as complicated as crypto itself. Well, most beginners expects a form of administrative building, a head office or probably a super market that you can walk in and pick crypto currency out from the shelves and in absence of their expectations, they label crypto currency as fraudulent.
Well, crypto currency isn’t your everyday groceries, you don’t just cart them away from the shelf of a super market and I guess that’s what makes it special, So if you have finally decided to invest in crypto currency.
Check Out Few Steps You Should Follow:
1. Get yourself a smartphone, well, I already assume you have one, it is almost impossible to engage in crypto currency trading without a good smartphone.
3. Create account on any crypto currency exchange platform of your choice, this is not a difficult task it’s just like creating a Facebook account NOTE: we are trying to break it down in the most simplest manner with lesser crypto currency terminologies and jargons for easier understanding. Once your account is created you be given a “ private key” this private key is a recovery password must be kept safe, you can use it to recover your coins if you forget your password. Someone can actually steal your coins with your private keys if you’re not careful, just don’t leave it laying around like your television remote.
4. Then before trading, which involves buying and other forms of exchange, you will be required to conduct a KYC verification (know your customer) for a beginner, this might be somewhat frustrating, you will be required to upload some government backed documents like your driving license, National identification number, passport or a voter’s card.
You will also be required to take a selfie, a very clear selfie then it might take up to a week to get verified and there are chances that your verification might be rejected due to one mistake or the other. As a beginner don’t give up, the reason for this verification is to ensure a safe transactions and curb the nefarious activities of fraudsters.
5. Then fund your already created account and you are ready to go. You can fund your account with fiat currency directly from your bank if you’re in the area where crypto currency transaction are legal but if not you have to use the p2p system.
It will however be important to use a safe internet practice, while going on about your accounts, use two factor authentication and a very strong password, this is because though bitcoins can’t be hacked but your personal details can actually be hacked.
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