Our economic world is changing fast from fiat currencies to new cryptocurrencies. This new form of money will protect us if we learn how to use it correctly. Buying and selling cryptocurrency is not just a fad for those who are first adopters. It is our future. We have digital ewallets to replace the leather wallets of days gone by. Taking a look, we see that this form of buying and selling is here in a big way.
Money platforms for more than just geeks
As we have heard, Bitcoin started the crypto revolution. Even though it is the underdog, another coin is right on its tail. This coin is called Ethereum. Because of the way this second coin was designed, many other things can be built upon it. It functions as more than money. New things called “smart contracts” are both disruptive and intriguing. Though this is right up the alley for a geek, it is also taking hold for other smart people who are looking to the future.
We have options for downloading the ewallet
There are many crypto wallets to choose from. A service called Neteller has also created its own. This well-known company operates over 200 countries. This company handles transactions in 22 fiat currencies and 15 languages. The first thing to do is to download their electronic wallet and put it in a secure place. For those of us with an Android device, the Google Play store will be the place to get this wallet. Likewise, those of us with an Apple device will be able to get the wallet from the Apple store.
Another way we can buy cryptocurrencies is with a company called Skrill. This UK company has been around since 2001. They were formerly called Moneybookers. They have created the only wallet approved by the state of New Jersey for internet gambling. Digital payment processing is their specialty. This includes being able to use Paypal for transferring money. When it comes to selling and buying cryptocurrencies, we can consider them equal to the company mentioned in the last paragraph. This is because both companies are owned by Paysafe Group.
There are now various methods of buying cryptocurrencies
Various exchanges are now allowing people to use cash and debit cards to buy crypto. One of the many ways to use cash is to buy an Amazon gift card. There may be some requirements for identification to buy an Amazon gift card, but the good news is that there is no purchase fee. To use an Amazon gift card on one of the many exchanges, we will need to go through a few simple steps. First go to a drug store, grocery store or another store to buy a physical card. After buying the card we will need to find a place online to use it. Paxful is an exchange to use our Amazon gift card to buy crypto. They are going to require us to save the receipt from the store where we bought the card, scratch off the code on the back of the card, take a picture of the back of the card. There must be a clear picture of the card. Then enter a trade chat on the Paxful website and type the code there. Someone will send coins to your wallet. Many other cards can be used as well. T-Mobile refill cards, Bed Bath and Beyond cards and Uber gift cards can be used. All are going to be similar to the steps mentioned here even though the cards are from different companies.
Buying cryptocurrencies with a credit card
Some popular websites will allow a person to buy crypto with a credit card. The Paysafe Group mentioned earlier does this. There are some third-party ways to buy them as well. A company called Virwox will allow us to make an account with them and then go through a process to get BTC. After making an account with Virwox it is possible to buy Second Life Lindens with the Paysafe Group. You can then sell the Lindens for BTC. This is not a fast way to get BTC and may be the choice of last resort. We have other easier ways of buying cryptocurrencies such as Coinbase. Choosing to use Coinbase is easier. We can transfer money to Coinbase with the Paysafe Group option and then buy BTC or other cryptocurrencies.
Selling and holding cryptocurrencies
Once an electronic wallet is obtained we can use it similar to a bank account. Coinbase, Paysafe Group, and others have apps that can be downloaded to a smarphone. They look just like a banking app. The difference is that some have alerts that tell the user when to sell or buy cryptocurrencies based on the prices set. For traders, this is ideal, since our phone can give us a popup on the screen to tell us that the price has gone down to a certain level. Buying more of that coin will hopefully be an investment or a way to make money. For those that hold, it would be an investment. For those of us who like to do trading, it can mean more income.
Getting to know the basics by getting started
A great way to begin a profitable trip into the world of cryptocurrencies is to go ahead and take the plunge. Making the choice to become familiar with the website from Paysafe Group is a healthy first step. Using their internal data is crucial to being informed. We can do this easily because there are both apps and automated orders to help. In seconds, and with a free account, anyone can be trading or buying many different coins, including BTC. There are many other sites that will also help us along the way. Websites that show market trends, real-time prices and forecasts have been online for years. There really is no excuse to get acquainted with all the crypto tools that have been made available to us. Getting on board with the future of money could not be easier.