Cryptocurrency has become very popular, for it can solve many disadvantages of traditional finances. Now numerous crypto projects emerge in the market, probably thousands of them. It is not easy to pick one crypto asset to invest in. The fact is that digital assets are volatile, and their rates may change every day, boosting and collapsing. To make the right decision on what coin to purchase, you should carry out an analysis. Answer the following questions:
- What is the essence of the coin (project behind it)?
- What is the background of its founders?
- Does the project have a community and how engaged is it?
- Check out the roadmap, what are the project’s immediate and long-term plans?
What Can Be Purchased with Cryptocurrency?
Many wonders, “What can I buy with cryptocurrency”? In fact, the range of items you can purchase is as extensive as the whole market of goods.
What can you buy with cryptocurrency:
- real estate (many property developers accept digital assets as payment);
- travel tours, booking hotels, apartments, etc.;
- loads of goods (more and more shop networks decide to accept cryptocurrency).
What is A Crypto Exchange
A cryptocurrency exchange is a place where you can trade, purchase, and sell digital coins. Centralized exchanges (CEX) are the most often used. They operate as a traditional bank with the regulating organ. That means every user has to provide documents for checking. This is called KYC (know your customer). It helps to make sure that a client was not engaged in any illegal activity in the past. A centralized platform must be confident about its clients’ safety. Every suspicious or unusual transaction is tracked, and an account may be suspended if there is a danger found. Besides, CEX ask clients to configure their accounts’ security by installing a two-factor authentication. This protects users’ accounts from third parties.
CEX guarantees funds safety and often has security funds to ensure the level of protection. The WhiteBIT exchange had opened their fund replenished from clients’ fees.
The platform also offers the blog WhiteBIT, a quality resource for everyone willing to discover more about the industry. You will find helpful guides on how to buy your first crypto through a bank card, how to pass KYC, what asset to pick for investments, the description of new and up-and-coming projects, and many other exciting issues.