The cryptocurrency market is developing slowly but surely, gaining more and more worth. Virtual currencies become more popular and common by the minute. Thanks to this it is now much easier to get both information about cryptocurrency and the units themselves. But everything has its downsides.
Cryptocurrency… who even needs it?
Cryptocurrencies are digital assets which were initially meant to replace money, but currently they are used for many different purposes. It’s important to pay attention to the divide into coins and tokens, characteristic for digital money.
The main difference between coins and tokens lies in their practical use. In the case of coins, they serve to replace money. And so, they will be used to pay for purchases, services and foods, much like a regular debit card. Tokens, on the other hand, serve as “chips”, meant to be exchanged for services. They are usually an internal currency on certain platforms, where they can be used as an exchange item or to “power” certain structures, like smart contracts or decentralized applications.
All of these types can be used both in accordance with their original purpose and for independent cryptocurrency trade. In both cases it’s important to familiarize yourself with the characteristics of the chosen coin and prepare tools that fit the chosen strategy, crypto, and personal needs.
Where to buy cryptocurrency?
Currently there are two main ways to obtain cryptocurrency on the crypto market:
- Cryptocurrency exchange. The most popular choice among seasoned investors. It enables them to buy, sell, and exchange cryptocurrencies. Due to the vast differences between the characteristics of crypto and the more traditional assets, it follows different laws than “normal” exchanges. Crypto exchanges are less secure, though, and more susceptible to scams and hacker attacks. Because of this, registering on a platform like that requires going through the extensive process of identity verification, which takes quite a bit of time and takes away the anonymity, which is a foundational value of cryptocurrencies. Moreover, buying one of the less popular cryptocurrencies requires using a more popular e-coin as an intermediate.
- Cryptocurrency cantor. Similarly to the traditional currency cantors, they allow for exchange between currencies. They aren’t particularly popular as an investment tool, but they are a much more convenient and safe alternative for getting cryptocurrencies compared to buying them through an exchange. It also allows for obtaining more units in one go than it would be possible with the use of an educational packet.
Crypto-cantor is one of the few elements of the cryptography world that can be found in a physical form. Independent cryptocurrency cantors can take on the form of service points, resembling traditional cantors, among other things. There are also stationary machines, called Bitcoinmats, where you can exchange money for BTC units that will be sent to the provided e-wallet address. Unfortunately, they only service Bitcoins and are very rare even in big cities. The situation of stationary crypto-cantors is similar in that aspect, as they aren’t very popular and are thus hard to find.
A bit more popular form is an online cryptocurrency cantor. It is a page or a platform where you can make fiat-crypto exchanges through the Internet. It’s a much more practical solution, as it doesn’t require looking for a service point, allowing you to make a transaction from anywhere you have internet connection. The way of using a cantor like that is also very simple, as all you have to do is select a coin or a token, enter the amount to spend on the units, and then make the transfer and receive the crypto on the provided e-wallet address.
An additional upside is the option to use cryptocurrency cantor without registration. As cantors are less susceptible to hacker attacks and easier to secure using different methods, some services resigned from conducting the verification process, sometimes ditching the option to set up an account altogether. It ensures the option of trading cryptocurrencies without setting up an account for the clients who are very serious about their anonymity while using virtual coins, and for those who are simply discouraged by the vision of a multi-step verification process.
And where to store them?
Aside from a reliable method to obtain cryptocurrency, another indispensable tool for using and trading cryptocurrencies independently is a good wallet. Cryptowallets, also known as e-wallets or simply “wallets”, are applications meant for storing, receiving, and sending crypto. They have two main subtypes: cold wallets and hot wallets.
Hot wallets are applications meant to be installed on a device with access to the Internet. They allow for easy transfer of crypto and are usually recommended for short-term investments. However, due to the connection with the Internet they are more at risk of a hacker attack, so it’s good to use additional safety measures.
Cold wallets, on the other hand, are usually a separate device without the option to access the Internet. Thanks to this they are much more secure and don’t require any additional protection. They are a bit less handy tha hot wallets, which is why they are mostly used in long-term investments, when the units are kept in one place for a few weeks or even months.
Aside from these two types, the user should also pay attention to requirements of each individual currency that they intend to use. Storing conditions can differ from one crypto to another, which is why you can’t always use the same wallet to keep them. It is worth mentioning that some online crypto-cantors, like Crypto-ATM for example, provide the option to create a wallet for the transactions, which can be used as a temporary or backup storage.
Cryptocurrencies are a technological breakthrough of our times. Information about them is increasingly easier to obtain, just like the crypto themselves. Thanks to this variety in in tools and methods every enthusiast will be able to find something that will suit them, no matter if they prefer to learn the theory with packets, invest on the crypto exchange, or buy cryptocurrencies directly for their own use through a crypto cantor .