How to Buy Cryptocurrency (in 2 minutes) – 2021 Updated

So you want to buy
your first cryptocurrency, but don’t know where to start? You’ve come to the right place. I’m Nate Martin, and we’re going to go over
how to buy ANY cryptocurrency in today’s 2…minute…tutorial. Buying any cryptocurrency
usually involves three steps – Researching before buying,
getting a compatible wallet and buying the actual coins. Whether you know which cryptocurrency
you want to buy or you’re still debating, it’s highly recommended
to do extensive research before investing your money. Sometimes a certain coin
gets a lot of hype, but once you research it a bit you find out it’s not
a very wise investment. Aside from Googling information
about the coin, CoinMarketCap.com
is a good place to start. The site lists
all available cryptocurrencies and supplies detailed information
about each one of them, aside from their price. Next, it’s time to get a wallet
for your coins.

Cryptocurrencies are stored
on programs called “wallets” that are installed on your computer
or mobile phone. While each cryptocurrency
needs a different type of wallet, most wallets can store
multiple coin types. Make sure that the wallet
you intend to use supports the coin you’re buying. If you’re looking for added security it's probably better to use
a hardware wallet, which is a physical device
that connects to your computer and keeps your coins offline, away from the reach of hackers. Once you have your wallet, you’ll need to locate
your cryptocurrency address for receiving payments. Each coin
has a different address format but they usually look like a long string
of letters and numbers.

You’ll need this for the final step. Finally it’s time to buy your coins
on an online exchange. Not all exchanges
sell all cryptocurrencies. Luckily, CoinMarketCap.com
also lists the relevant exchanges for buying any listed coin. If you’re looking to buy
several cryptocurrencies, we recommend choosing an exchange that already supports
all of your desired coins, as the signup process at an exchange
usually takes a while. Before we conclude,
a word of advice – never invest any amount
in cryptocurrency that you can’t afford to lose. Cryptocurrencies are highly volatile
and extremely risky, even the more established ones. If you find yourself getting confused
by the large selection of wallets and exchanges around, check out our list of vetted wallets
and exchanges in the description below. That’s it for today’s 2 minute tutorial. I'll see you…in a bit. If you've enjoyed this video,
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