Investing in cryptocurrencies has somehow become the modern-day gold-rush. Numerous millionaires are being created daily from Bitcoin, Ethereum, Stratis, Ripple and many other altcoins. Acquiring your first bunch of cryptocurrencies can be intimidating, and it's easy for one to get lost in the huge sea of unknowns. Before making your first purchase, you need to understand which specific coins you want to purchase and all the resources you might need.
Once you make up your mind on what cryptocurrency you need to buy, you should choose the most convenient way of making your purchase. Cryptocurrencies can be bought from an exchange, desktop cryptocurrency wallets, from ATMs and kiosks and directly from individual holders. Each of these options has got its own pros and cons as well as risks too. Different sale avenues will also require varying verification resources such as your government issued ID, DL, passport photo, bank statement etc. Choose the most convenient, secure and most economical method of buying your first cryptocurrency coins. Most of the currently available cryptocurrencies are available on most reputable exchanges. If the cryptocurrency that you need to buy is relatively new in the market, then you need to understand that few exchanges will have it listed.
The most common way of purchasing your first cryptocurrency is through an online exchange. Buying from an online exchange might require you to deposit either fiat currency or link your credit card or PayPal account. To buy your cryptocurrencies, first you need to sign up for an account, link up your bank account/credit card or PayPal account and verify your details. After accessing the buy/sell tab on the exchange, the buyer chooses an option of paying using the listed payment options then inputs the amount to be bought. Finally, complete the purchase and your order will be processed after some minutes or seconds, depending on the cryptocurrency you are buying. The process for buying from an offline cryptocurrency wallet is similar to the one followed when buying from an online exchange.