How can I buy 1 crypto currency

Buy cryptocurrency? These 5 dealers are serious!

by Bianca Sellnow, 02/05/2019

Since the Bitcoin rate reached one record high after the next at the end of 2017, not only technology freaks have been interested in digital currencies. Many ordinary consumers toy with the idea of ​​buying cryptocurrencies. But how do you even get such digital means of payment? If you search the net, you will find countless platforms that offer trading in crypto currencies. We present five reputable marketplaces for Bitcoin, Ethereum, Ripple & Co.

 

First things first: How to get crypto currencies

There are basically two options for investing in digital means of payment: You can use crypto currencies with conventional money to buy. Depending on the rate, you will then receive a certain amount of Bitcoins, Ethereum or Ripple for your Euros. The second option: You already have a crypto currency and exchange it for another.

To start trading with digital means of payment, only cryptocurrency exchanges that also offer purchases in euros or US dollars are eligible. There you insert Customer account at. Depending on the provider, you can then transfer money from your bank account to this account or connect it to your credit card.

In order to set up such a customer account, you must first prove to reputable cryptocurrency exchanges that you are actually the specified person - as when opening a bank account. With many providers, you can do this via a video chat, for example, where you have to show your ID.

Then it can go. Note, however: As in the real stock market, it usually falls a fee for every trade at. This is mostly based on the amount of crypto currencies converted.

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Bitcoin.de: The largest marketplace for cryptocurrencies in Germany

Bitcoin.de is a German platform that is backed by a real bank. That is why they apply here strict German regulations and laws for banks. There are two ways to buy Bitcoins or Ethereum here: Either look for an offer on the marketplace. Or you can create an inquiry yourself and look for sellers.

disadvantage: You can only buy two cryptocurrencies - Bitcoin and Ethereum - here.

Kraken: Wide range of cryptocurrencies and low fees

Kraken has been one of the established crypto exchanges for years. You can trade many different cryptocurrencies on the platform - including less well-known ones. The classics Bitcoin, Ripple, Ethereum, Monero and Litecoin are of course also available. In addition, the virtual money can be invested in many currencies.

disadvantage: The website is only available in English and there is no telephone support.

Coinbase: Comfortable cryptocurrency exchange for German users

Coinbase is an American trading platform for cryptocurrencies. But the marketplace is also very convenient for German users. There is a German-language interface and you can trade crypto currencies in euros. Proof of identity with German ID cards is also possible. Coinbase also offers a user-friendly app, with which the smartphone can also be used when trading.

disadvantage: Comparatively high fees. Due to the high demand, there have often been technical problems in the past.

Paymium: buy bitcoins via app

You can only buy and sell bitcoins on Paymium. The site is in German and easy to use. In addition, according to its own information, the platform complies with EU regulations for banks. Therefore, Bitcoin deposits should be 100 percent secured here. Another advantage: Bitcoins can be used free of charge by email be shipped.

disadvantage: Only one cryptocurrency - Bitcoin - is available here.

Poloniex: crypto trading with high security standards

Poloniex is not suitable for entering the crypto business, as it only trades in crypto currencies. You won't get anywhere with euros or dollars. But there are some good reasons that speak in favor of this marketplace. On the one hand, the security standards are very high. On the other hand, Poloniex is one of the largest trading platforms for cryptocurrencies in the USA with a large number of transactions. This makes it more likely that you will Find cheap deals.

disadvantage: You must already have a cryptocurrency to trade. The website is not available in German.

© istock / mixetto / 2016 You can barely get hold of new Bitcoins by “digging” without buying them.

Bitcoin mining: digging for cryptocurrencies instead of buying them

Perhaps you have already heard of "Bitcoin mining" belongs. Some computer nerds who got on board at the beginning of the cryptocurrency era have made some fortune through this “mining” of Bitcoins. You basically earn the crypto currency by providing computing power for the crypto network and confirming transactions.

For individuals, however, this is now hardly possible, as it requires a great deal of computing power and, accordingly, huge amounts of electricity. That is why there are now so-called Cloud mining provider. Many private users come together for joint mining. This works in a similar way to a syndicate for the lottery. However, as with the lottery, success is not guaranteed either.

disadvantage: The chances of success are slim and there are many dubious providers.

Cryptocurrencies: Easy trading with high risks

Investing in cryptocurrencies is not a sure-fire success - you should take care of your financial investments on a regular basis. The Cryptocurrency prices fluctuate very strong; sometimes by more than 20 percent per day. An example: at the end of 2017, Bitcoin hit a record high of almost $ 12,000. Just a month later, in early February 2018, a Bitcoin was only worth $ 7,000.

In addition, there are some risks with cryptocurrencies that you are safe from with conventional investments: Hacker attacks, viruses, software vulnerabilities and the like can ensure that in the worst case scenario your money is completely gone.

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