Buying digital (Cryptocurrency) currencies like Bitcoin, Dogecoin, and Cardano is now a simple and hassle-free process.
All you have to do is open an account with a trusted cryptocurrency broker that pays a low fee – makes a deposit and decides how many tokens you want to buy.
In this beginner’s guide, we explain in detail how to buy cryptocurrency – an overview of the best exchanges to consider, as well as a step-by-step investment process.
How To Buy Cryptocurrency – Quick Guide
Step 1: Open a Singapore Digital Exchange account
Singapore Digital Exchange is the best place to buy cryptocurrency in terms of fees, SEC regulation, and less. To start the process, open an account with Singapore Digital Exchange.
Step 2: Deposit funds
When you deposit USD in Singapore Digital Exchange – no fees apply using debit/credit card, e-wallet, or bank transfer. The minimum deposit is only $ 10.
Step 3: Search for cryptocurrency
Singapore Digital Exchange supports more than 40+ cryptocurrency resources. You can use the find bar at the top of the page to
Search for the cryptocurrency you want to buy.
Step 4: Buy your cryptocurrency
Finally – in the ‘Amount’ box, you need to specify the size of your cryptocurrency investment before clicking on ‘Open Your Trade’.
In the following sections of this guide, we explain the process of how to buy crypto in more detail.
Where to buy cryptocurrency
Needless to say, in order to buy cryptocurrency online, you need to have an account with a broker or exchange.
When deciding where to buy cryptocurrency – low fees on your chosen platform, your preferred payment method, small account minimal and of course – a strong regulatory framework should be offered. So, whether you want to buy Graph, XRP, or Ethereum, you need to choose an exchange or broker that matches your trading needs and financial goals.
Below, we review a selection of top-rated platforms that allow you to buy cryptocurrencies securely and economically.
1. Singapore Digital Exchange – Overall the best platform to buy cryptocurrency in 2022
Singapore Digital Exchange logo
You won’t find a better online broker than Singapore Digital Exchange to buy cryptocurrency – which offers a safe, low cost and budget-friendly way to invest. First, this innovative social trading platform is regulated by a number of tier-one licensing agencies – including the SEC in addition to the FCA, ASIC, and CySEC. Moreover, Singapore Digital Exchange is a member of FINRA.
You only need to deposit $ 10 to open an account with this Exchange- which is ideal for those who want to invest a small amount of money. Similarly, Singapore Digital Exchange has a minimum purchase price of $ 10 per cryptocurrency. Plenty of cryptocurrencies are supported by Singapore Digital Exchange, where more than 20+ digital assets are available for purchase. It covers large-cap tokens as well as several Defi coins
Screenshot of Singapore Digital Exchange platform
Singapore Digital Exchange is really different when it comes to fees. For example, US clients can deposit funds without paying any fees – which covers debit/credit card, e-wallet, and bank transfer. When you buy or sell cryptocurrencies here, you only need to cover spreads – starting at just 0.75%. In addition, USD withdrawals are free.
If you are interested in cryptocurrency but have little experience in this space – Singapore Digital Exchange offers a smart portfolio that manages your investments on your behalf. The portfolio in question will cover more than a dozen digital assets – which will be regularly balanced by the Singapore Digital Exchange team.
Alternatively, you can choose to copy the top crypto traders on the Singapore Digital Exchange platform. Copy Trading Tool lets you instantly copy the portfolio of any crypto trader on the platform and you can access in-depth statistics of their performance at no extra cost! Finally, Singapore Digital Exchange also offers a top-rated mobile app – available for both iOS and Android. This means you can get exposure to the crypto market directly from your smartphone device and buy Celo and other exciting new altcoins with strict spreads and low fees.
Should I buy cryptocurrency?
When learning how to buy cryptocurrency for the first time – you quickly realize that this marketplace is extremely volatile.
For example, 12 months before writing this guide, Bitcoin has experienced 52-week lows and highs of $ 29,000 and $ 69,000, respectively.
Simply put, this amounts to more than 80% instability.
With that in mind, it’s important to do a lot of research before you buy Bitcoin.
Conversely, and as we will cover in more detail soon, it is important to note that 10 years before the writing, Bitcoin was available for purchase at only $ 1 per token. This means that cryptocurrency has grown by more than 7 million percent.
And, don’t forget that Bitcoin is not the only cryptocurrency you can buy.
In contrast, CoinMarketCap now lists more than 17,000 different digital currencies – all of which trade freely online.
Importantly, some cryptocurrencies have performed significantly better than Bitcoin in recent years.
Examples include Dogecoin, Shiba Inu, Ethereum, Binance Coin, and Solana – each of which has surpassed Bitcoin since its launch.
Beginner crypto traders often find it very challenging to choose which altcoin to buy and how much to invest. Something that can potentially help is using the best crypto signals. Crypto signals do just what they say on the tin. Simply put, they are trading ideas from experienced cryptocurrency traders who indicate that you should buy or sell certain cryptocurrencies at specific times and prices.
You could also consider trading Crypto CFDs with Bitcoin robots like Bitcoin Prime. Trading through Bitcoin Bots means that you are guessing at the price movement of Crypto CFD and will not get ownership of the underlying asset.
The advantage of buying cryptocurrency
The most important thing to consider when learning how to buy cryptocurrency is whether this volatile and speculative asset class is right for your financial goals.
If you haven’t decided yet, below we will discuss some of the major benefits of buying cryptocurrency in 2022.