How to Buy Cryptocurrencies with Fiat?

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Crypto Lending

Cryptocurrencies are becoming more and more popular. Many people want to join this industry and start investing in crypto projects. How to pick a promising asset, and what platform to use for investment? We will discuss these questions below.

How to Choose a Crypto Project to Invest in?

If you want to buy cryptocurrency, you should first analyze it. Here is a small guide on picking a crypto asset:

  • First of all, find out the essence of the project and its underlying technology.
  • Look for information about the project developers and their backgrounds.
  • Find out if the asset is listed on large and credible exchanges.
  • What is the asset’s price, and how did it change throughout its history?

Once you pick the asset, you want to buy crypto. If it is the first time you purchase digital coins, you need a service allowing you to buy cryptocurrencies with fiat money. The only option is a centralized crypto exchange, such as WhiteBIT, Binance or others. Such platforms have a regulatory body that controls transactions and does not allow illegal actions on the user’s part. Users who want to access all the exchange tools and have no fund withdrawal limits must pass the KYC validation. It requires providing documents to the platform’s office for checking. Usually, it takes up to a week to verify a new user. Those who refuse to pass KYC can access only a limited range of tools and small withdrawals.

How to Exchange Cryptocurrency to Real Money?

Working with fiat money requires attaching your bank card to an exchange account. It is obvious that fiat-crypto trades are impossible for not verified accounts. 

Once you register and verify your account, add your debit card and move real money to your exchange account. Click “Trade”. In this section, you can exchange your dollars, euros, etc., for digital assets. The steps are similar if you need to move funds to your bank card. Convert your digital assets into real money and move them to your card in minutes. You can try to buy and sell crypto on a demo account on the WhiteBIT exchange to receive skills and practice in trading.

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