If you’ve decided you’re ready to join the crypto industry and don’t know where to start, we’ve prepared a series of informative articles for you:
- How to buy cryptocurrency;
- how to sell;
- how to safely keep it;
- how to make money from crypto;
- where to use crypto.
Our experts are consistently and responsibly approach to collecting and providing information, especially for newcomers, because the first introduction is the most important. To be prepared before you buy cryptocurrency, please carefully read our platform’s terms of use, as well as informative articles. In addition, we recommend subscribing to our info channels – Telegram, Instagram, and Twitter – to stay up to date with industry news, receive daily rates, and read useful articles. So, we tell you how to buy cryptocurrency in Ukraine – without problems and nerves, quickly and safely.
Important clarification! Crypto industry is a high-risk industry, where cryptozymes happen and new directions regularly appear. There are quite a few tutorial articles and videos on the web, which are not investment advice though. Before you buy cryptocurrency, please learn the basics of blockchain technology and how distributed registries work. We will also try to provide you with as much material as possible for comfortable interaction with the technology and the most gradual immersion into the industry possible.
Which currency to buy
In fact, there are quite a few nuances that need to be clarified before the purchase itself. If you are already familiar with the basic principles of blockchain technology, you can move on from general to specific questions. For example, how to choose a cryptocurrency, how to store it, and how to use it. However, the most important thing before the purchase is the choice of a coin. The crypto industry is rapidly developing, and almost every day some project of some new direction (DeFi, GameFi) releases its native token. The number of coins and tokens is growing every day, and the full list has already reached several thousand. Accordingly, deciding which cryptocurrency to buy is not easy. After all, it depends on this choice whether you can expect a large profit and profit in general. In addition, if you choose carelessly, it is very easy to become a victim of cybercriminals.
First, you need to decide what you want to buy. Among the uses of crypto, the most popular are:
- short- and long-term investments;
- trading;
- participation in certain projects;
- storage of funds.
Storage of funds
If you are just interested in storing funds independently from banks and governments, there is no need to think for a long time about which cryptocurrency to buy. The optimal solution is to choose one of the stabelcoins – Tether (USDT), USDC, DAI, or another. Stablecoins differ from other types of coins in that they are almost not subject to volatility: their price almost does not change. In addition, if the project is real and its creators are not pursuing fraudulent profits, the coins must be secured with other assets. For example, fiat money (U.S. dollars, euros), precious metals (gold, silver), bills of exchange, commercial paper, deposits, and so on.
Projects
It is clear that in order to participate in certain projects, you need to buy the tokens of certain projects, so we do not stop there. The main thing you should pay attention to in this direction is project analytics. Before investing in a cryptocurrency project, study the goals of the project, the roadmap, the reputation of the team, tokenomics. Often a decision needs to be made fairly quickly, but that decision needs to be really informed.
Trading
The next point is, of course, trading. In both traditional finance and finance and technology, one of the main purposes of buying is to trade assets. In this case, the high volatility of assets plays into the hands of traders. Regular rate hikes up and down allow earnings on price changes more often and more frequently than on the stock market. However, one should not forget about the fact that the rate can go down for an indefinite period of time. So before you start trading, familiarize yourself with the basics of trading, in addition to the basics of blockchain technology. Trading is not as simple as the so-called infocitizens on Instagram stories tell you. Treat it like a job.
To do that, read the news, study types of analysis, and keep an eye on the market and new projects. Yes, yes, it’s important to know what time the Chinese wake-up, when the work day starts in New York, what the signing of certain documents by the president of the United States means, and so on. These skills are not acquired quickly, and the simplest but most effective advice, in this case, is to read the crypto news. Choose 5-10 channels to watch daily. Break down obscure terms and get into the details. Or read our daily news picks in our Telegram channel, but again, understand the terminology.
Investing
This is a common goal of buying crypto. Crybex specialists, as well as many crypto-experts and sane – it is worth underlining this word – financial advisors believe that investing in crypto is the best option for capital accumulation and multiplication. Indeed, short-term investments allow combining several objectives – it is both reliable storage and earnings.
Long-term investments, on the other hand, pursue more profound purposes, such as retirement savings. Thinking about a decent old age, people choose between deposits, gold, foreign currencies, and real estate. However, crypto investments are a much simpler and more promising way to raise capital. By investing little by little regularly, you can amass a significant amount over several years. For example, in 2021, bitcoin went from $30000 to $600000. Yes, then the price went down again to $30,000. But then it rebounded to $60,000 again.
A simple example and simple math. If you invested $1,000 at the beginning of the year and didn’t lock in a profit, but then didn’t sell, and decided to wait for the rate to rebound and waited, by the end of the year you had doubled your capital. The level of income depends primarily on which cryptocurrency to buy for the long term. Imagine that you bought 1 BTC in August 2017. At that time, 1 BTC was worth just about $1000. If you “hodled,” as we say in crypto, and didn’t sell during those years, congratulations, you’ve increased $1,000 by a factor of 60. Beautiful, isn’t it?
For long-term investments, you should choose coins cautiously – time and market-proven. Usually, for a long period, buy coins from projects that are developing gradually, but have high growth potential. In the long term, you should not choose new coins that have just appeared and have not yet proven themselves. Even if after analysis you are confident in the team and admire the project roadmap, you cannot be sure that the project will not encounter difficulties on the way to implementation and that the token will survive market obstacles. It is better to pay attention to coins that have already passed a certain stage: Bitcoin, Ethereum, Litecoin, Monero, and so on.
Where to buy cryptocurrency
A platform for buying coins is as important as your portfolio. Choosing a reliable seller of crypto directly determines the success of your interaction with the industry. When choosing where to buy cryptocurrency, pay attention to a number of nuances:
- method of purchase;
- geolocation;
- payment methods;
- the way the rate is formed;
- the presence or absence of additional commissions;
- the moment of rate fixation;
- level of security.
And these are not all the subtleties to consider when deciding where it is best to buy crypto. However, for example, the level of security is one of the most important points. The safety of data and funds depends on how the project’s technical team treats this issue, and whether the security systems are regularly monitored and updated.
Choosing where to buy cryptocurrency in Ukraine, start from whether you want to pay in cash or by bank card. Many cryptocurrency exchangers offer online and offline conversion. It’s important to consider whether the service charges additional fees and how clear the rate formation is. Remember that too attractive a rate is also a reason for suspicion. Agree, that an adequate business will not work at zero or minus, we do not live in a world of altruists and ponies, except for unicorns. So when choosing where to buy cryptocurrency, pay attention to whether the rate is similar to the market rate, not a fake one.
The moment of rate-fixing is also of great importance. The cryptocurrency industry functions in such a way that the rate can change in minutes. Therefore, when creating a purchase order at a specific moment, you need to make sure that the cryptocurrency exchanger will not pull for the latter in the matter of rate fixing. Make sure that the chosen partner fulfills the obligations of the transaction while receiving the minimum required number of confirmations.
If you choose to buy for cash, of course, the first thing to consider when choosing a cryptocurrency exchanger is the geographical component. Again, it is clear that while choosing where to buy cryptocurrency in Ukraine for cash, you should consider the presence of a branch of cryptoexchange in your city. Crybex is represented in several dozen Ukrainian cities, as well as abroad. If your city is not on the list of offered, but you do not want to consider an online exchange, contact a customer service manager and clarify the possibility of buying coins in your city for cash. Customer service will likely be able to help you solve your cash payment issue.
Speaking about the geographical component, it is important to note that online conversion, i.e. buying and selling crypto with a bank card implies that big advantage, which we at Crybex call geographical freedom. Buying crypto with a bank card or selling with a withdrawal to a card, you get a service available from virtually anywhere in the world. All you need is a smartphone with Internet access and a bank card from a Ukrainian bank. In general, any bank card VISA, and MasterCard will do.
Talk about the benefits of our exchanger for a long time, because we have more than 22, and perhaps, in fact, they are much more. But we are not here for this, our advantages are listed in various combinations and painted on other pages for specific exchangers. Please be cautious in your choice of buying methods, cryptocurrency partners, and, in fact, the coins themselves. One advantage worth mentioning again, however, is our support service. Whatever difficult questions or doubts you may have, our managers will help you solve the problem, advise you and conduct the transaction at a flawless level.
Our key principles are security, privacy, confidentiality, and the highest level of service. If you have any additional questions or comments or suggestions for new materials, please share them with us.
Join the industry of the future today by starting to invest in the money of the future!
