Tag: Wallet

How to Buy Cryptocurrency?

The method of purchasing and selling cryptocurrency has been made a lot easier over the last few months. There are five significant aspects that you must think about before purchasing any cryptocurrencies or to buy some XcelToken Plus (XLAB):

Location

To find out how and where you can buy cryptocurrency, it is important for you check your country’s regulations.

Payment Method

The most common and accepted payment methods to buy cryptocurrency include: credit card, bank transfer or even cash. Different websites accept different payment methods, so you’ll need to choose a website that accepts the payment method you want to use.

Type of Cryptocurrency

Not all cryptocurrencies are available for purchase on every website. You will have to find a website that sells the cryptocurrency that you want to buy.

Cost of Fees

Each website has different fees. Some are cheap, some are not so cheap. Make sure you know how much the fees cost before setting up an account on any website. You don’t want to waste your time verifying yourself and then find out the fees are too high!

How much you can afford

As with any investment, you should never invest more than you can afford. I recommend speaking to a financial adviser first. With those 5 factors in mind, we can move on. When you buy your cryptocurrency, you will can’t obviously store them in your bank as you would regular fiat currency.

Cryptocurrency Wallet

A cryptocurrency wallet is where you store your cryptocurrencies after you have bought them. You can compare a cryptocurrency wallet with your bank account. In the same way that you store traditional currencies (USD, JPY, EUR etc.) in your bank account, you will store your cryptocurrencies in your crypto wallet. There are a lot of easy-to-use and safe options to choose from. It is important that you choose a highly-secure wallet, because if your cryptocurrency gets stolen from your wallet, you cannever get it back.

There are three types of wallets:

Online wallets: The quickest to set up (but also the least safe)

Software wallets: An app you download (safer than an online wallet)

Hardware wallets: A portable device you plug into your computer via USB (the safest option).

The wallet you need will depend on which cryptocurrency you want to buy. If you buy Bitcoin, for example, you’ll need a wallet that can store Bitcoin. If you buy Litecoin, you’ll need a wallet that can store Litecoin. There are multiple wallets that allow you to easily transact and safely store your cryptocurrencies, coupled with features that allow you to use them for your utility payment purposes.

With the information above you will now be able to buy XcelToken Plus and trade with them on one of the 14 trading platforms that it is listed on.

How to Keep Your Cryptocurrency Safe?

If you’re new to the crypto world you might have overheard people transferring their assets into cold storage or cold wallets but were unsure exactly what this involves. Simply put, it means securely transferring and storing your cryptocurrencies/ assets offline to decrease access to hackers. There are two ways in which you can store your cryptos offline, here’s how you can do it:

Hardware: Wallets vary from software wallets in that they store a user’s private keys on a hardware device like a USB. Although hardware wallets make transactions online, they are stored offline which delivers improved security. Hardware wallets can be compatible with several web interfaces and can support different currencies; it just depends on which one you decide to use. What’s more, making a transaction is easy. Users simply plug in their device to any internet-enabled computer or device, enter a pin, send currency and confirm. Hardware wallets make it conceivable to easily transact while also keeping your money offline and away from danger.

Paper: Wallets are easy to use and provide a very high level of security. While the term paper wallet can simply refer to a physical copy or printout of your public and private keys, it can also refer to a piece of software that is used to securely generate a pair of keys which are then printed. Using a paper wallet is relatively straightforward. Moving Bitcoin or any other currency to your paper wallet is proficient by the transfer of assets from your software wallet to the public address shown on your paper wallet. Alternatively, if you want to withdraw or spend currency, all you need to do is transfer funds from your paper wallet to your software wallet. This process, often referred to as ‘sweeping,’ can either be done by hand by entering your private keys or by scanning the QR code on the paper wallet.

If you are about to invest in XcelToken Plus (XLAB) it is suggested that you store them in the above ways to make sure that your assets stay safe.