If you’ve been following the news lately, you’ve probably heard how people have been making millions from trading or investing in crypto coins. Finally, you too can join the bandwagon. At least everyone is now sure that crypto coins aren’t or rather weren’t a Ponzi scheme.
The value of crypto coins such as Bitcoin and Ethereum has been steadily rising over the past couple of years. For instance, Bitcoin was valued at $1 USD back in 2009 when it was launched to the market. However, the crypto market isn’t as smooth as it may look from the outside.
Buying Bitcoins: Exchange Websites vs. P2P Websites
If you want to buy bitcoins, you can do so via an exchange account or P2P website. Exchange accounts are better since they handle almost everything for you. However, you will need to sign up for an account first.
After that, add your mode of payment. Most exchange accounts allow registered users to buy bitcoin using their debit or credit cards. You will need to show proof of identity to confirm your transaction.
On the other hand, when using P2P websites, you will interact with the crypto seller directly. However, you don’t need to show proof of identity when completing your transaction. Most seasoned crypto traders prefer to use P2P websites because of the anonymity feature.
Crypto Wallets: Choosing the Best
Think of a regular wallet where you keep your cash and other essential documents. A crypto wallet is a digital platform where you store your crypto coins. The idea behind crypto wallets is to provide a digital storage option where you can hold your coins.
There are plenty of crypto wallets these days. However, of them all, YouHodler offers the best features and services for any crypto investor. Therefore, we will highlight some advantages of YouHodler bitcoin wallet in this section.
Most exchanges do provide wallet services. However, your coins are always at risk in case the company goes under. This is why it is always a good idea to transfer your coins to a private wallet after each transaction.
YouHodler allows you to put your bitcoin or any other coins you have to work. In addition, YouHodler offers you interest of up to 12.7% from your accounts. Most crypto traders like buying bitcoins during a dip and holding on to them. They then sell the coins when the prices or value shoots up.
Bottom Line
When choosing a bitcoin wallet, there are some things you need to consider. The first thing you need to consider is security. If it is an online wallet, ensure that the website has HTTPS encryption. Also, be sure to check that the wallet supports two-factor authentication.
Another feature you should consider is if you have access to the coins in your wallet. As mentioned before, exchange accounts offer wallet services but won’t give you access to the private keys for the crypto coins in your wallet. Access to the private keys means that you’re in control of your cryptocurrency.