If you're new to the world of cryptocurrency, crypto investment can seem like a complex and even risky proposition. However, cryptocurrency – and its most famous iteration, Bitcoin – may offer a solid financial hedge against market fluctuations and economic instability. Here are some of the most frequently asked questions about cryptocurrency investment.
- Where do I buy cryptocurrency? CoinFlip offers a secure online platform for investors who want to buy cryptocurrency with a credit card or debit card. If you prefer to use cash for your cryptocurrency transactions, CoinFlip offers Bitcoin and altcoin ATMs in nearly 200 locations throughout the United States.
- What do I need in order to buy cryptocurrency? You'll have to acquire a cryptocurrency wallet, such as the recommended BRD Bitcoin Wallet, in order to buy or exchange cryptocurrency. If you're highly security conscious, you'll want a hardware wallet, which is a device that allows you to store your private keys which cannot be transferred from the unit. However, if you would like a less expensive alternative, there are free software applications online that are highly secure, though there have been highly publicized instances of "cracking," where cryptocurrency is stolen from software programs.
- Do I have to buy an entire Bitcoin? No – Bitcoin can be purchased in fractions as small as .00000001, also known as a satoshi.
- How do I know what cryptocurrency is the best investment? Learn as much as you can about the market from subject matter experts and reliable news publications. There's a huge amount of noise about cryptocurrency and values tend to fluctuate widely, so numerous respected economists view it as a high-risk investment. If you're looking for long-term growth, Bitcoin – though it is only 10 years old – is the most well-known and trusted of the cryptocurrencies, and has already proved to be remarkably resilient to competition, technological issues, and periods of diminished public confidence.
CoinFlip offers secure and fast online tools for buying cryptocurrency with a credit card, debit card, or cash. If you want to add altcoin to your portfolio, buy cryptocurrency with a credit card today.
*This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, accounting, or investment advice.