People mostly want to know how to buy cryptocurrencies on Binance, Robinhood, Coinbase, etc., so here is the answer, but first, let’s understand what cryptocurrency is. Cryptocurrencies (generally defined as virtual or digital money in the form of token or coin) is growing its pace in today’s digital world. It has become a great option for investors to invest in various cryptocurrencies. It uses blockchain to ensure safety from attackers.
Most famous and the first cryptocurrency is Bitcoin, which still holds its position fairly. There are about 1600 cryptocurrencies available in the world, according to investing.com, but they mainly divided into 3 types
- Bitcoin
- Altcoins
- Tokens
The major cryptocurrencies are bitcoin (BTC), ethereum (ETH), ripple (XRP), litecoin(LTC), tether(USDT), bitcoin cash(BCH),libra, etc.
Now let’s talk about the cryptocurrency exchange platforms from which we can buy and trade our currency, but the question is, why buy cryptocurrencies? Because it promises to make it easier to transfer funds directly between two parties without indulging the third party like a bank or credit card, and transfers are secured by using public keys and private keys.
There are more than 100 platforms, but the topmost are:
- Binance
- Robinhood
- Coinbase
How to buy cryptocurrency on Binance?
Binance is a cryptocurrency exchange where we can trade various cryptocurrencies. Founded by Changping Zhao in China, it became the largest cryptocurrency exchange in 2018 in trading volume terms. An increase in its popularity has many factors, but the most promising is availability in multiple languages and a clean interface.
One must remember that Binance is a crypto-only exchange and does not deal with fiat deposits.
Buying cryptocurrency in Binance :
Are you looking forward to buy bitcoins on Binance? Cryptos like BTC, ETH, BNB, etc. can be directly bought by using multiple fiat currencies from the Binance. If you are thinking how to buy cryptocurrency on Binance then here are the steps:
- Open www.binance.com, login if already registered; otherwise, click on register for a new account.
- Click on the homepage on top, and the “buy” crypto option will appear.
- Click on the “BUY” option and select currency as desired, then enter the amount and click on pay now.
- After confirming, the seller will release the cryptocurrency and then click on transfer to spot wallet.
- You can also click on check my account to view the asset bought.
How to buy cryptocurrency on Coinbase?
Coinbase is also a digital currency exchange founded by Brian Armstrong and Fred Ehrsam in 2012, and in the United States, it’s on top of the list.
There are two versions of this one is coinbase, and the other is coinbase pro. As compared to the coinbase version, coinbase pro gives a cheaper fee structure and more options in terms of charts and indicators.
Are you still thinking how to buying cryptocurrency on Coinbase then you can purchased easily by following these steps:
- Log in if you already have an account or click on here to open a new account with discount.
- Click on the “buy” page and select the digital currency you want to buy.
- Select the payment method( debit card or credit card, or direct bank account)
- Click on BUY NOW, and you are ready to trade
How to buy cryptocurrency on Robinhood?
Robinhood is a California-based financial company founded in 2013 by Vladimir Tenev and Baiju Bhatt, giving people the freedom to invest in stocks, ETFs, and cryptos. It gives commission-free trading options and zeroes balance requirement to open an account to lure the investors, and this is why their waitlist had a growth of more than 1260,000 by the end of the first day.
Present-day it has est. $20billion market value.
Buying cryptocurrency in Robinhood:
Apart from stocks and financial services, it has various options to choose from BTC, ETH, LTC, Dogecoin, and other major cryptocurrencies. It has both a web and app-based facility to ease trading and lower entry barriers as a third party manages cryptocurrency.
Adding cryptos to Robinhood is so easy. Below are some steps mentioned. These steps are for everyone who is thinking how to buy cryptocurrency on Robindhood.
So one can buy cryptocurrency as follows:
- Create an account or login if you already have an account.
- Simply fill the application form to open an account, verified by the company within one trading day, and then send an email after approval.
- Some documents can also be required which can be securely upload
- As an account is opened, a person is ready to trade
- Click on cryptocurrency’s detail page
- Click on trade and then tap on “buy.”
- Tap “order types,” select according to your convenience
- Confirm and submit.
CONCLUSION
To conclude on this blog “how to buy cryptocurrency on Binance, Robinhood and coinbase,” we can say that people choose binance in the position of 5th while Robinhood places at 15th because of ease of uses. The same goes with coinbase, which tops with 35million users and is most popular among all three. For my recommendation, coinbase gives the best platform to buy cryptocurrency.
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