The world of cryptocurrency can be both intimidating and overwhelming. Not everyone who’s in it knows what they’re talking about. Proper education and a welcoming community are essential for a good start when buying crypto. Earnity executives Dan Schatt and Domenic Carosa and their team of fintech veterans are building a curated financial marketplace that encourages global users to earn, save, and learn more about cryptocurrency and other DeFi products.
So, where does a buyer begin when purchasing crypto? We provide some tips below for new crypto buyers.
Have other reasons to buy crypto other than its hype. When considering buying crypto, one must ensure the move is aligned with their purchase goals. Once a buyer has compelling reasons and a good reason for buying crypto, the following steps will be clearer. Get a good grasp of how the industry works. Developing a sense of how the cryptocurrency industry operates provides a user with essential information on how best to break into it.
Read cryptocurrency reports and updated guides to stay current with the market. Information acquired from these white papers can set a buyer’s expectations. Every project must have such reports for a user to know the developers, their purpose, the project’s time frame, and other necessary elements. According to Dan Schatt and Domenic Carosa of Earnity, proper timing is crucial. Appropriate research and a good feel for the industry can afford a buyer a knack for proper timing.
Brush up on the legality of cryptocurrencies. Cryptocurrencies still differ from traditional currencies and thus won’t be accepted as legal tender, at least not in all countries. At present, the U.S. assets that can be bought using cryptocurrency are dependent on the seller’s preferences. When buying crypto, it’s critical to remember that it comes with greater risks than other purchases. Familiarizing oneself with crypto and blockchain technologies can allow a user to determine if the purchase opportunity fits into their portfolio and overall buying strategy.
