How To Buy And Sell Cryptocurrencies?

Earlier, we have learned that Cryptocurrencies are bought and sold through online exchanges – which serve as a marketplace for trading cryptocurrencies. There are several online exchanges in the world. The most popular ones are:  

• Coinbase
• Bitfinex
• Binance
• Robinhood

Coinbase is the most popular and easiest to use. They have a website as well as an app. Hence, you can trade through your computer or your phone. 

You can use your debit card or bank account to buy cryptocurrencies. As mentioned earlier, in most cases, you can buy a fraction of a cryptocurrency.

For investing in cryptocurrencies, you will need to open an exchange account from where you can buy and sell cryptos and also store them. The cryptocurrencies are stored in your ‘digital wallet’. 

Actually, the entire process is pretty simple and is quite similar to the process of buying and selling shares. 

Now that we have understood how to buy/ sell cryptocurrencies, a question arises: can we use cryptocurrencies like physical money? Let us discuss this in the next unit of our module.