Crypto 101: Safe Methods Newbies Can Use To Start Trading Cryptocurrency
If you’re new to Crypto you’re probably wondering where you can go to start your investment journey. So below we have taken the liberty of putting together a few safe platforms you can use to start trading crypto if you are an Australian citizen.
- Binance is a great option as a trading platform. Founded in 2017 Binance has recently been donned the largest crypto exchange with a Market Cap of $1.3 Billion. Binance is a staple for crypto to crypto trading. One of the Best Newbie plays would be to use the BNB Token to pay for your transactions as it lowers the cost of these fees on the Binance platform.
- BTCMarket is a safe option for the conversion of fiat to BTC. If you were using Binance you would use the BTCMarket to make the purchase of crypto and then transfer it over to the Binance platform.
- Coinspot is also another safe option as it provides an easy way for you to convert fiat to crypto and vice versa. The downsides to this platform are the transaction fees are very high and they hedge crypto currencies which results in less crypto for your fiat.
You are probably wondering why we have not suggested using any mobile wallets. The simple reason behind this is you should be using a Hardware Wallet or Paper Wallet to store your crypto, because mobile or desktop wallets are more susceptible to being hacked as they have a continuous connection to the internet.
Stay tuned for our soon to be released article on Hardware wallets.
We will be doing a fairly comprehensive list of the hardware wallets that are out there and the pro’s and con’s involved in using them.