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Before we even start with the comprehension of how to buy and sell crypto in Canada, we will need to understand what exactly cryptocurrency is. With the digital currency value being on a roll, you may or may not feel intrigued by the whole concept of it. However, the basic understanding of crypto is very essential for a good profit from the same.
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Before we even start with the comprehension of how to buy and sell crypto in Canada, we will need to understand what exactly cryptocurrency is. With the digital currency value being on a roll, you may or may not feel intrigued by the whole concept of it. However, the basic understanding of crypto is very essential for a good profit from the same.
What is cryptocurrency?A cryptocurrency is a digital or virtual currency that is secured. It is nearly impossible to counterfeit or double-spend. There are multiple cryptocurrencies available in the market to this date! Many cryptocurrencies are decentralized networks based on blockchain technology. Now, you may ask what exactly is blockchain technology? It is actually a distributed ledger enforced by a disparate network of computers.
The easiest and most convenient way to start investing in cryptocurrency is basically divided into two steps. One of them being figuring out how much to buy and the second being where to buy it from. And all of this stays in addition to the research you accomodate about cryptocurrency.
Figure out how much Bitcoin to buyThe first step is to actually figure out how much you want to bet on Bitcoin. The quick answer is probably: buy as much as you’re willing to lose. When you trade Bitcoin there’s a chance you could make—or lose—a lot of money. Many people have lost a fortune to Bitcoin, and some have become overnight millionaires.
Before you invest a penny in Bitcoin it’s wise to make sure you have enough money to keep your portfolio stable, have a solid emergency fund and retirement plan. Then figure out how much money you want to invest in Bitcoin.
Decide where to buy BitcoinOnce you’ve decided you want to buy Bitcoin and you realise how much you want to invest, you can use a crypto trading platform to buy and sell cryptocurrency easily and often cheaply. These providers often bring together multiple exchanges to get their clients the best Bitcoin prices. Crypto trading platforms normally don’t allow you to transfer your Bitcoin to someone else.
A cryptocurrency exchange is a digital marketplace. Here you can buy cryptocurrencies with the help of other cryptocurrencies. You can trade hundreds of cryptocurrencies, including “stablecoins” whose value is equal to the US dollar. There are a few things to watch out for when choosing to trade through exchanges, however: exchanges technically control the crypto that’s held in exchanges—even if it’s in your wallet on the exchange—so, should the owners decide, they could drain the exchanges of user funds.
Ethereum or Ether token being one of the most famous cryptocurrency, is also available at Netcoins. With a free account and easy to manage portfolio, Netcoins looks like the best place to buy ethereum in Canada.SOURCE CREDIT: https://netcoins.tumblr.com/post/665446604274302976/finding-an-easiest-way-to-buy-and-sell-crypto-in
