Today many people think about crypto investments. In 2022, the market dropped, and now is the best time to buy crypto before the market trend changes for an uprising. In this article, we will discuss the pros and cons of buying crypto coins and tell what cryptocurrency converter is the best for buying assets online.
What to Do After Buying Cryptocurrency?
There are two options for what you can do with digital assets:
- You can buy and hold them. This strategy is also called “HODL” because someone once made a type in a crypto chat. HODL means holding crypto as long as possible without selling it to make a fortune when the asset reaches its max price indicator.
- You can trade crypto assets using crypto platforms. Trading means purchasing and selling coins which may happen with different timing – daily, many times a day, once in a couple of months, etc.
- You can invest long-term. It may take a few months or years. The difference from HODL is not keeping funds “forever”.
Beginner traders would first try the less stressful option; for example, you may buy some assets for the long term (Bitcoin) and some coins for trading, for instance, intraday strategy, when you buy and sell coins within 24 hours.
Disadvantages and Advantages of Cryptocurrency
Let’s mention some of the most important pros of crypto:
- The possibility to generate enormous sums from just a little first investment.
- Crypto is not centralized, so there is no “bank” to regulate how many coins to issue, etc.
- Blockchain is transparent – you can see all the transactions with the coins done before. No one can change it.
- Using crypto, you can instantly conduct cross-border money transfers at low fees, which is essential for those constantly facing banks’ bureaucracy and high fees.
Some disadvantages of cryptocurrency:
- Crypto wallets and platforms are often attacked by hackers.
- There are a lot of illegal schemes.
- Increased risks because of the high volatility of the market.
To avoid the most stressful situations when working with crypto, use reliable and truncated services, for example, the WhiteBIT exchange. It offers a convenient cryptocurrency converter and high protection for all its clients.
Which Assets are the Most Promising to Buy?
Investors recommend purchasing top-traded crypto assets such as Bitcoin, Ethereum, Solana, Polkadot, and Ripple, as well as lesser-known but promising assets like Dash, Tamadoge, ApeCoin, Algorand, and Decentraland. All of these crypto assets are available on the WhiteBIT platform, the largest crypto exchange in Europe registered in Estonia. The platform adheres to all industry regulations and provides robust security for its clients. A whopping 96% of users’ investments are kept offline, shielding them from illicit activities.
Moreover, WhiteBIT is expanding its partnerships with promising and significant crypto projects, offering their coins for trading. By using the native WBT token, clients can receive transaction discounts and access all products from these partners, providing additional income opportunities. To purchase and sell cryptocurrency, users may register and use spot markets, or they can verify their accounts and access a more extensive range of trading options, including unlimited withdrawals, futures, staking, leverage, margin, and more.
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