How to Buy and Sell Cryptocurrency and What Wallet to Choose?

The market of digital assets is evolving and developing despite the downtrend. Now many investors understand that the bear trend is quite a normal phenomenon for this field, and it will obviously be replaced with the bull run, which may begin even in 2023. The beauty of the downtrend is that we can choose the most promising crypto coins and buy them at a low rate to wait till the market trend changes once again. 

How to Buy and Sell Cryptocurrency and What Wallet to Choose?

Let’s talk about reasons to buy cryptocurrency and ways to store it.

Some Reasons Why You Should Buy Cryptocurrency

The first reason we have already discussed at the very beginning of this article - profiting from the price growth during the next upward market trend. That looks like a long-term investment - when you buy cryptocurrency and hold it.

Another option is to trade crypto - buy and sell it, taking advantage of price changes and generating income from it.

Another reason to buy digital assets is the opportunity to conduct cross-border money transfers at low fees and with no intermediaries. For instance, sending money to your sister in Poland through the bank will take a much longer time and have higher costs compared with a quick crypto transaction.

What Storage to Pick?

Depending on your purpose, you should select the best storage for your crypto:

  • If you want to buy cryptocurrency and do nothing with it until its price boosts, you should select cold storage, also called an offline wallet. That may be a device that you can connect to the Internet and disconnect when you want. 
  • If you want to be active and trade crypto coins or buy goods for them, transfer funds, etc., you need convenient and safe storage - a hot wallet. You may install such wallets when registering on the largest crypto exchanges. That may be, for example, Binance or WhiteBIT wallets.

WhiteBIT is the most secure cryptocurrency exchange in Europe. It has an intuitive and safe wallet for clients. It is worth using mainly because most funds (96%) are stored offline - on cold wallets on the WhiteBIT exchange, so your investments are always protected. The WhiteBIT wallet supports a range of cryptocurrencies, including Bitcoin, Ethereum, and many more. Users can securely manage their funds, track their balances and transaction history, and easily transfer assets to and from the exchange. Additionally, the WhiteBIT wallet uses advanced security measures to protect users' funds, such as two-factor authentication and multi-signature technology. Learn more about the platform on its official website and blog.