Cryptocurrency is the big boom in 2019, a market that offers huge profit making opportunities. But it’s also extremely risky so before you jump in it’s better to be educated. Here are a few tips if you want to buy cryptocurrency online in 2019. To begin investing in Bitcoin and other cryptocurrencies you first need to with an exchange which will offer you to buy cryptocurrency with money. An exchange is basically an online platform that offers anyone to buy and sell Bitcoin as well as any other cryptocurrency that they have listed.

Signing up for a Coinbase account is easy, though you will need to provide some form of identification. That may involve sending a copy of your photo ID and potentially also sending a live image of your face using a webcam. These rules are important to follow as they allow the site(s) to comply with ‘know-your-customer’ regulations. Although Coinbase alone will allow you to buy and sell Bitcoin, it’s also worth signing up to its linked exchange platform, Coinbase Pro, which will give you greater control over your purchases.

Most beginners make one common mistake: buying a coin because it’s price seems to be low or what they consider affordable. Take, for example, someone who goes for Ripple instead of Ethereum simply because the latter is much cheaper. The decision to invest in a coin should have very little to do with its affordability but a lot to do with its market cap. Just like the conventional stocks are gauged by their market caps, which is evaluated using the formula Current Market Price X Total Number of Outstanding Shares, the same applies to cryptocurrencies.

Don’t chase cheap coins with dreams of lambos and private jets. Lots of uneducated investors in the crypto space buy low priced cryptocurrencies because they think there is a higher chance of big returns. If presented with one coin priced at $0.01 and another at $75, they blindly purchase the $0.01 coin because they think it’s easier for a coin to go from $0.01 to $0.02, rather than from $75 to $150. This is a common trap. There are lots of factors that affect a coin’s price, including two important ones: the circulating supply and the real world value of the coin.

Learn to value coins in BTC. Ether aside, Bitcoin is the current primary currency of the crypto economy (i.e., its what you have to use to buy most altcoins). Those new to crypto tend to value things in dollars. Meanwhile, even seasoned cash traders value coins in dollars. However, enough crypto traders will value coins in BTC for it to matter. If you aren’t aware of the BTC charts, you won’t be able to properly understand the trends everyone else is analyzing and reacting to. You don’t have to make getting more BTC your goal, but you must have the BTC prices of altcoins on your radar. There are times when all coins move up, but altcoins steadily loose value against Bitcoin. Those who know will be the first to dump altcoins for Bitcoin; this will set off a vicious cycle that can result in the stagnation of altcoin prices.

Everyone is talking about cryptocurrencies. The explosion in the price of Bitcoin in previous years, when it reached its maximum price and almost touched $ 20.000 dollars, caused the eyes of the world to settle on the crypto world. Suddenly, from average citizens to financial giants, everyone became interested in cryptocurrencies. Their rising prices gave cryptocurrencies a new attraction. Read more info on Buying Crypto Online.