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How can I buy cryptocurrency?

For those who wish to purchase virtual money, today there are many options.

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Mining

The main way to get crypto-coins is to mine, that is, to mine them. You can do this by receiving them as rewards for combining transactions into blocks, as well as for finding the necessary key to seal the block.

You can use your own equipment or rent someone else's. If the owner of the equipment and the miner live in different countries, this mining option is called cloud mining.

exchanger

This is the easiest purchase option. As a standard, it provides an opportunity to buy the most popular virtual assets, which are among the twenty leaders in terms of capitalization. Among them, Bitcoin and Ethereum can be especially distinguished. You can also pay for these coins in different ways.

All people are allowed to purchase using the most convenient option. It can be a bank card, cash, an electronic wallet, and so on.

Exchangers of bitcoin and other cryptocurrencies take a commission for the purchase . It differs depending on the exchanger itself. But it cannot exceed 10% of the operation. Although the average commission is usually lower - no more than 2%.

Directly

Exchange offices act as intermediaries and charge their own fees for transactions. But cryptocurrency can also be bought directly. For this, so-called p2p platforms (i.e. person to person) were created. The most popular of these sites is LocalBitcoins. Here, users can enter into transactions, and the service itself, in this case, becomes the guarantor of the honesty of these transactions.

Exchange

You can also buy cryptocurrency directly on cryptocurrency exchanges. In fact, this is one of the most convenient and secure methods as the risk of fraud on reputable exchanges is reduced. If you decide to buy digital coins on the trading floor, the option of running into an unscrupulous counterparty is excluded.

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Security of digital money and blockchain

Any cryptocurrency is created using blockchain technology. Blockchain describes the option of recording operations in the so-called blocks and time points. The procedure is technically difficult. However, as a result, a virtual register of cryptocurrency transactions appears, which will be very difficult to hack.

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Also, two-factor authentication is required for all transactions. For example, the user will need to enter a username and password at the very beginning of the transfer. They may then also require an authentication code. It is sent to the user's mobile phone via SMS. Which provides additional protection.