Ever since cryptocurrency came into being, in 2009, it has gained a lot of popularity. The penchant for cryptocurrency has only increased with time. When several, US-based investors of crypto joined in, this May, the total value of cryptocurrencies has surpassed $2.5 trillion. The global value for cryptocurrency has been projected to reach 394.60 billion, by the year 2028.

Cryptocurrency is a digital asset that can be bought or sold online, through crypto exchanges. The first-ever cryptocurrency to appear was Bitcoin, and since then many more have followed. Almost 100 million people hold Bitcoin today.

Cryptocurrency is not similar to traditional ‘fiat’ money. Fiat money is printed and backed by a centralized government. But cryptocurrency does not have a physical form and solely exists digitally on a blockchain as tokens.

Previously, cryptocurrency was not a generally accepted form of money. But today ever since it has reached recognition, many big companies have upgraded to accept it as payment. Like stocks and bonds, cryptocurrency value can increase and decrease.

Investing in Cryptocurrency:

People who invest in cryptocurrency know that it is high risk. If you heard about someone making a fortune overnight, does not mean that at one point they hadn’t lost their entire life’s savings. Cryptocurrency investments are volatile investments having a potential for high reward and high loss as well. But people who are willing to learn, and manage this risk should read ahead to learn how to invest in crypto:

Before you buy Bitcoin with credit card, do your research. Educate yourself on the risks and every possible outcome. Some people invest purely to speculate. While some people see crypto as a way to store value or hedge against inflation.

To start investing in crypto or buying Dash from a credit card:

  • Start small: Because the crypto market is an extremely volatile place, the prices will rise and fall, just like the stock market. Invest in crypto once you have enough liquid funds, without any debts. Start by investing in stocks. This will help you understand your capacity to deal with the risks. Once you have an understanding of how to manage the risk, you can set aside an amount of money to invest in crypto.
  • Select the Cryptocurrency: Again, here it is important to do your research. Find the best performing cryptocurrencies and look at their growth charts. Only then invest. Bitcoin is the largest cryptocurrency in the world and the most trusted as well.
  • Pick the Cryptocurrency Exchange: A cryptocurrency exchange is a place to purchase, sell and store crypto assets. They require transaction fees and can help you manage your cryptocurrency.
  • Choose a Crypto Wallet: A crypto wallet is a software that stores the private key that adds a link between you and the blockchain where you store your crypto assets. With a crypto wallet, you can have easy access to your cryptocurrency on the blockchain using your crypto address called the key.

Here are a few brokers that allow you to hold cryptocurrency, along with other assets like stocks and bonds;

  • Coinsbuy: Coinsbuy is a service that lets you buy, hold, sell,

and exchange several popular cryptocurrencies all in one place.

Coinsbuy has a simple and secure way to buy Bitcoin or buy Dash with credit card following these steps;

  1. Open an account on the Coinsbuy website.
  2. Verify your account.
  3. Log into your account.
  4. After proper document and user verification, you will be able to buy and deposit cryptocurrency easily:

Click on the “Buy/Deposit” option placed on the dashboard (you may choose “Funds” and “Wallets” options as well). Choose the digital asset you want to get, like Bitcoin. Specify the ordered amount of BTC to see the amount of the chosen fiat currency you need to deposit. Insert your credit (debit) card payment information. And last of all confirm the transaction and become a crypto holder.

Robinhood: Robinhood has landed on Bankrate’s list of best brokers for cryptocurrency trading. It lets you facilitate transactions and purchase stock and altcoins. The site is very simple to use and their app is a big advantage. It is 100% commission-free and is US-based.

Coinbase: Coinbase is another broker which allows you to learn crypto while you earn. It is one of the easiest places to buy and sell cryptocurrency. It has over 50 cryptocurrencies. It also has the option for multiple payments and withdrawal options as well. Although the fees for Coinbase are a little high.

SoFi Invest: SoFi is another crypto broker that has landed on Nerdwallet’s list of best crypto exchanges and platforms. It is not a commission-free broker and charges a markup of up to 1.25% on crypto transactions. SoFi also has a promotion going on where if you trade $10 or more in crypto, the company will give you $10 in bitcoin.

TradeStation: TradeStation is a Bankrate pick for crypto trading, just like Robinhood. The site notes that it is best for “active or advanced traders.” It’s not a commission-free broker, charges up to 0.3% per trade for accounts with less than $100,000. The fee drops as your balance goes higher.