The digital asset market is attracting more and more new investors. If you look at the diagram of the number of Bitcoin wallets, you can see that in spite of everything, it continues to grow. As of January 2023, the number of BTC wallets is approaching the 90 million mark.
This popularity is explained by several factors:
- low entry threshold;
- lack of bureaucracy and the need for intermediaries;
- huge growth potential;
- availability in almost any country in the world.
In this article, we will take a detailed look at how to buy and sell cryptocurrency for beginners, what aspects you need to pay close attention to, and how not to be caught in scammers’ traps.
How to Pick Crypto for Investments if You are A Beginner?
According to the largest analytical resource Coinmarketcap, there are more than 22 thousand different coins and tokens in the cryptocurrency market. Not all of these projects are worthy of attention; many were made exclusively for short-term earnings for the creators themselves or the fans. It is definitely not worth acquiring such tokens, for it will not lead to anything other than the loss of investment.
Coin Selection Criteria
To answer the question of how to buy cryptocurrency correctly, it is important to understand the criteria to select coins:
- Openness and reputation of the team
- Really working product
- Information about partnerships with other, preferably large companies
- Ratio of market capitalization to daily trading volume
- Listing on a decent cryptocurrency exchange.
What is the Best Crypto Exchange?
The largest and most popular exchange in Europe is WhiteBIT. It offers tokens of quality projects and does not support scam projects. For example, a CHZ USDT trading pair is one of the most popular on WhiteBIT, with sufficient liquidity. If a coin is listed on WhiteBIT, then it is worthy of attention, as the exchange team conducts detailed research before adding this or that coin to their trading list.
