How do I buy cryptocurrency?

To buy cryptocurrency, first you need to pick a broker or a crypto exchange. While either lets you buy crypto, there are a few key differences between them to keep in mind. What Is a Cryptocurrency Exchange? A cryptocurrency exchange is a platform where buyers and sellers meet to trade cryptocurrencies.

What happens when you buy cryptocurrency?

When you buy cryptocurrency, it’s typically stored in a so-called crypto wallet attached to the exchange. If you don’t like the provider your exchange partners with or you want to move it to a more secure location, you might transfer it off of the exchange to a separate hot or cold wallet.

How do I buy cryptocurrencies If I'm a first-time buyer?

If you're a first-time buyer, you'll very likely have to use regular money to buy cryptocurrency. Depending on how you choose to pay, you may have to fund your account before purchasing any crypto. Pay with other crypto. If you already own cryptocurrency, you can use it to trade for other cryptocurrencies.

Can you buy crypto using a different exchange?

Some exchanges only allow you to buy crypto using another crypto, meaning you’d have to find another exchange to buy the tokens your preferred exchange accepts before you could begin trading crypto on that platform. What Is a Cryptocurrency Broker?