Were you aware that digital money investments are some of the best ways to earn money?
Many people buy and sell cryptocurrency because it has a lot of potential. The more people talk about it, the higher the prices go. As a result, many are getting rich from trading cryptocurrencies on various platforms.
However, you need to know where to buy and sell cryptocurrency safely to ensure you don’t lose money. Fortunately, we’ll outline all the best places to go when you want to start investing in digital currency.
Read on to learn about the safest places to buy and sell digital money!
PayPal
If you’ve never bought cryptocurrency before, the best place to go is PayPal. Not only is it a reputable payment system for a plethora of websites, but it also allows users to buy and sell bitcoin, bitcoin cash, litecoin, and ethereum.
If you’re looking to make digital money investments without touching them, PayPal will let you store the money for as long as you’d like. However, buying and selling cryptocurrency often may be better elsewhere.
Because PayPal offers few options, you’ll miss out on breakouts in other cryptocurrencies. For example, dogecoin has increased more than 5,000% since the start of 2021. Unfortunately, dogecoin isn’t an option on PayPal, so many people missed out on the train.
But, don’t let the limited options stop you from investing on their platform. PayPal has a ton of security features to prevent others from accessing your account. It’s also easier to manage all your money from one place, so you won’t have to go to another site if you want to buy bitcoin.
After buying bitcoin on PayPal, you can then use it to make online purchases. If you’re interested in making digital money investments in other cryptocurrencies, at least buy your bitcoin on PayPal.
ByteFederal
ByteFederal offers a unique way to purchase cryptocurrency in that they distribute crypto ATMs across the US.
When visiting a crypto ATM, you can buy and sell cryptocurrency at live market values, just like you would on a website. However, the difference between a crypto ATM and a website is that you can use cash to buy cryptocurrency.
These ATMs don’t accept debit or credit cards due to the risk of buying crypto. Whenever you sell crypto at the ATM, you can withdraw funds in cash, giving investors a new way of exchanging digital money.
With a ByteFederal, you can also diversify your portfolio by purchasing physical gold. It’ll remain in a swiss vault until you’re ready to acquire or sell it.
Before investing in crypto at an ATM, it’s best to get as much info. as you can about ethereum. This will ensure you have a good understanding of how the digital money will be transferred to you.
Stock Trading Platforms
Investing in digital currency is a simple process, but many beginners are unaware that crypto can be purchased on their favorite stock trading platforms. Platforms like Robinhood, Webull, and Interactive Brokers all allow their users to purchases various cryptocurrencies.
What makes buying crypto on a stock trading platform secure is the fact that you don’t have to transfer anything between multiple platforms. Aside from that, you reduce how many websites you’re providing personal information, such as your bank account numbers.
Buying crypto on a stock trading platform is also much more convenient if you already invest in stocks. Rather than managing multiple investment accounts, you can buy both stocks and crypto from one source.
Whenever you sell shares, you can take that money and invest it into a cryptocurrency. There’s no need to initiate a new bank transfer when you find a cryptocurrency to invest in.
Crypto Trading Platforms
Similar to stock trading platforms, you can find a variety of crypto trading platforms that offer solely cryptocurrencies. Aside from offering just crypto, the main difference between these platforms and stock trading platforms is that they have more options to choose from.
If you go to platforms like Coinbase, you’ll find hundreds of cryptocurrency options available for trade. Like stock trading, you can buy and sell crypto from these platforms and withdraw your money whenever you’d like.
Digital money investments made on these platforms are more convenient for those that want to buy just crypto. If you’re looking to buy crypto AND stocks, it’s best to stick with a stock trading platform.
However, a cryptocurrency exchange will have more tools to analyze charts. Those that are looking to day trade will benefit greatly from them.
Depending on the crypto trading platform you use, you may be able to transfer your positions to another brokerage. But, the brokerage would have to offer the cryptocurrency.
For example, if you bought Elongate, you wouldn’t be able to transfer the money to Webull. Instead, you’d have to keep it in a crypto wallet until more platforms offer it.
Invest in Digital Money Today to Generate Profits
Whether you’re looking to day trade or make long-term digital money investments, cryptocurrency is an effective way to earn passive income. After reading this article, you now know how to buy and sell digital money on various platforms.
We encourage you to look into a cryptocurrency exchange as soon as possible to start earning money. Research different currencies until you find one that interests you.
From there, you’ll just need to find a platform that offers it. Start with your stock trading platform, then look elsewhere if it isn’t available.
Check out our other articles to learn more about cryptocurrency!
