Luckily, there are a lot of good wallets to choose from that can store multiple cryptocurrencies. If you buy Litecoin, you'll need a wallet that can store Litecoin. If you buy Bitcoin, for example, you'll need a wallet that can store Bitcoin. The wallet you need will depend on which cryptocurrency you want to buy. Hardware wallets: A portable device you plug into your computer via USB ( the safest option). Software wallets: An app you download ( safer than an online wallet).Online wallets: The quickest to set up ( but also the least safe).It is important that you choose a highly-secure wallet, because if your cryptocurrency gets stolen from your wallet, you can never get it back. There are a lot of easy-to-use and safe options to choose from. In the same way that you store traditional currencies ( USD, JPY, EUR etc.) in your bank account, you will store your cryptocurrencies in your crypto wallet. You can compare a cryptocurrency wallet with your bank account. When you buy your cryptocurrency, though, where are you going to store it? I'll give you a hint: it's not your bank account.Ī cryptocurrency wallet is where you store your cryptocurrencies after you have bought them. With those 5 factors in mind, we can move on. I recommend speaking to a financial adviser first. You don't want to waste your time verifying yourself and then find out the fees are too high!Īs with any investment, you should never invest more than you can afford. Make sure you know how much the fees cost before setting up an account on any website. You will have to find a website that sells the cryptocurrency that you want to buy.Įach website has different fees. Not all cryptocurrencies are available for purchase on every website. Different websites accept different payment methods, so you'll need to choose a website that accepts the payment method you want to use. The most common and accepted payment methods to buy cryptocurrency include: credit card, bank transfer, or even cash. To find out how and where you can buy cryptocurrency, it is important for you to check your country's regulations.
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