The Prospects Of Buying Cryptocurrency On WhiteBIT Today

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Successful investment into a digital asset can generate significant income. The simplest example of such a case is Bitcoin. Years ago, its value was less than a dollar. Today, its price is more than $20,000 for 1 BTC with an all-time high reaching over $65,000. Bitcoin has the highest cryptocurrency market cap.

There is a great variety of up-and-coming assets you can buy and gain significant income. But before you choose a cryptocurrency to buy, let’s learn more about the value and benefits of cryptocurrency.

Why Are Cryptocurrencies Skyrocketing In Value?

Cryptocurrencies are not issued by central authorities and most of them (with an exception of stablecoins) are not backed by national currencies. So, what makes them increase in price, and what attractive sides do they contain? Here are a few sources from which cryptos derive a value:

  • cost of production;
  • competition;
  • supply and demand;
  • regulations;
  • availability on exchanges;

Demand is one of the biggest factors influencing assets’ value. Typically, the demand increases if the project gets recognition or the currency is used more often among users.

Cryptocurrencies are not solely about buying and selling. There is a whole world of blockchain innovations behind the trading concept, with a variety of revolutionary projects that support the ideas of decentralization and transparency of world finances. People get interested not only in the prospects of earning money, but also in the ideas behind the projects. The simplicity, transparency, speed of transactions, and other characteristic features of decentralized finances attract a growing number of new adherents. The more coins/tokes are being bought, the higher the value. For example, according to Bitcoin news, in 2021, big investors bought and held BTC at the beginning of the year. As a result, the BTC supply decreased, and the price increased. The spread of different cryptocurrency news is in this case very beneficial.

Another example is Ethereum, the most popular platform for launching DeFi projects. The creators that use this platform are using the native Ethereum crypto, ETH. As a result, the price of ETH increases due to demand.

The Many Benefits Of Investing In Cryptocurrencies Today On WhiteBIT

Even though crypto investing is risky, it has a great deal of advantages. To name a few:

  • Fast transactions. Traditional money transfers take around three to five business days. A wire transfer takes around 24 hours, and stock investing trades settle in around three days. Crypto transactions can take minutes, depending on the network load.
  • Protection against inflation. Investing in crypto is a great way to secure your investment portfolio, in other words, it is perfect for financial risk management.
  • Private transactions. Theoretically, cryptocurrency transactions are private. A blockchain creates a public ledger that records all transactions. The ledger shows the wallet address, but not the owner’s identity. That’s why people believe crypto offers more privacy. However, if you can connect someone’s identity with their wallet, you can track their transactions.
  • Investment benefits. Bitcoin is not the only example of a good investment. SOL, ETH, XRP, ADA, and other assets experienced great growth in value. If a person uses good investment strategies, they can buy cryptos that eventually increase in value.

Today, it’s easy to enter the crypto market and buy the necessary asset. Users can choose a reliable crypto exchange, such as WhiteBIT, and invest in digital money.

On WhiteBIT, users can even buy cryptocurrency with fiat money. Once they get their desired cryptos, they can use various means of investing in cryptocurrency. The huge advantage of using WhiteBIT is that it has several investment options:

  • buying crypto with fiat money;
  • exchanging crypto to other digital coins;
  • trading crypto on the spot and futures market;
  • investing in special passive income plans.

WhiteBIT is one of the largest European crypto exchanges with

  • the lowest trading fees on the market;
  • a great variety of assets and pairs to choose from;
  • a convenient and user-friendly mobile version;
  • excellent support team available 24/7;
  • 6 convenient trading orders;
  • futures and margin trading with up to 20x leverage;
  • the highest level of security based on the cer.live ranking and Hacken audit.

How To Buy Your First Cryptocurrency On WhiteBIT?

Buying and selling cryptocurrency is easy. You need a cryptocurrency wallet and credit cards to buy crypto on WhiteBIT. Here’s what you need to do:

  • create and verify your account;
  • deposit funds to your account (for depositing fiat you will have to pass identity verification);
  • choose a crypto to buy and a way of purchasing (exchange, trading, or simply buy using the Buy crypto option).

In case you face any difficulty, you can contact a support team 24/7.

Put Your Money Into Crypto Today And Reap The Rewards Tomorrow

Many people still hesitate when it comes to investing in crypto. Undoubtedly, digital currency is volatile and often experiences significant price fluctuations. However, it has many advantages, as mentioned in the article.

At the same time, some people take the risk and invest in crypto. They carefully study the market and the currency they choose to invest in. As a result, they manage to buy coins for a lower price and sell it for a higher price in the future, successfully generating thousands of dollars in profit.

Pro tip: if you decide to invest in crypto, research the project you invest in to minimize the risk of losses.

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