If you’re looking to invest in cryptocurrency for the first time – you will be entering a new and existing trading space that has since surpassed a market value of $1 trillion.
In this beginner’s guide, we’ll teach you everything you need to know about investing in cryptocurrency. Key topics include how to choose a safe and low-cost cryptocurrency exchange, selecting the best digital currencies for your portfolio, and the steps required to invest in less than five minutes.
How to Invest in Cryptocurrency for Beginners – 4 Easy Steps
In just four simple steps – you can invest in cryptocurrency via a regulated online broker in under five minutes.
Best of all, when using eToro for this purpose – you can instantly pay for your cryptocurrency investment in US dollars without paying any transaction fees.
Here’s a quick-fire overview of how to invest in cryptocurrency at eToro:
✅Step 1 – Open an Account with eToro: Opening an account with eToro is super easy as it’s just a case of providing the broker with some personal information. You’ll also need to upload a copy of your ID for anti-money laundering purposes.
💳Step 2 – Deposit: You only need to deposit $10 into eToro when you first open an account and no transaction fees are charged(US clients only). Choose from ACH, a debit/credit card, an e-wallet, and more.
🔎Step 3 – Search for Cryptocurrency: Now that you have a funded account, use the search bar to find the cryptocurrency that you want to invest in. If you’re unsure which digital asset takes your fancy, click on the ‘Discover’ button to browse the 60 digital currencies supported by eToro.
🛒Step 4 – Invest in Cryptocurrency: After clicking ‘Trade’ you will see an order box appear on your screen. Enter your investment stake in the ‘Amount’ box and click ‘Open Trade’ to invest in your chosen cryptocurrency.
First-time traders might appreciate our more detailed guide on how to invest in cryptocurrency – which you will find by scrolling down.