Buying and selling cryptocurrency: tips for beginners

Cryptocurrency is establishing itself in the investment market every year, and there are more and more people who want to engage in buying and selling cryptocurrency. However, unlike experienced traders who have been involved in financial transactions for many years, newcomers often experience difficulties. In this article, let’s look at what problems novice traders can face and how to get up to speed in this industry.

The concept of cryptocurrency

Cryptocurrency is electronic money, which has already been legalized in many countries around the world. Today there is probably no one left who has not heard of bitcoin, the most popular cryptocurrency. When it appeared in 2009, no one could have predicted that it would have such a cool future. Many people who took a risk and invested in cryptocurrency at that time became much richer by starting to work on cryptocurrency exchanges.

Electronic wallets are created for bitcoin storage and are provided with cryptographic protection. All transactions made with tokens are recorded in a database accessible to all. When conducting financial transactions with cryptocurrency, the same unit cannot be copied or sold more than once.

Those who have dealt and experienced with cryptocurrency transactions and make money from it claim that all actions on cryptocurrency exchanges are absolutely safe and transparent. The same opinion is shared by many companies that accept electronic money, which are increasing in number every day.

People who are more conservative believe that using and storing cryptocurrency is dangerous, because there are many criminals operating on the Internet, who hack into wallets, transferring money to their accounts.

How to secure cryptocurrency

Every person involved in reselling cryptocurrency wants to maximize the safety of his or her assets. Crypto-trading involves following the same security rules as in the normal use of Internet services:

• create complex passwords;
• update your passwords regularly;
• It is strongly not recommended to use the same password on multiple sites;
• Do not click on suspicious links and do not leave personal information on sites you do not trust.

To store bitcoins, a bitcoin wallet is created, and it requires the generation of a sid-phrase and a private key. The private key, which is a cipher, provides access to the cryptocurrency vault. If an unauthorized person somehow manages to get this data, he can become the owner of the money. If only the key is lost, the sid-phrase can be saved. Using it, you can restore access to your bitcoin wallet.

How and where to start trading cryptocurrency

To start profiting from buying and selling cryptocurrencies, you need to decide on a trading venue. One of the profitable places where you can buy and sell cryptocurrency is the financial platform WestStein. Clients of the service here can buy and sell bitcoins on favorable terms.

Clients of the financial service can perform transactions to buy crypto in WestStein’s mobile app. All transactions are stored in the history and can be viewed at any time.

In order to become a client of WestStein financial service, you need to register for free on the website by filling out an application form. In it you should specify your surname, first name, e-mail, contact phone number, residence address. After that, the online account and a virtual card will be available for you to replenish it with the desired amount of money. There are no restrictions on the amount of recharge.

After refilling, you can use the virtual card just like any other card you want. You can use it to make purchases on the Internet, transfer money, book hotels around the world, buy cryptocurrency from the card. Cryptocurrency exchange on the platform, for example, for currencies such as USDT, USDC 1.5%, for volatile koins 3.5%.

A physical plastic card will be delivered to the address indicated in the application form within 10 working days. You can use it to pay for goods and services at points of sale all over the world.

Advantages of WestStein financial platform

Our clients, using the financial service, receive a number of benefits:

• security in carrying out transactions;
• the possibility of obtaining a universal card for payments;
• a user-friendly interface of the application, where you can easily find the necessary information about the transactions performed;
• Multilingual customer support, our consultants speak English, German, Polish, Latvian, Italian, Spanish, Russian.