Gemini, CoinEgg, Kraken – These are crypto exchanges. Crypto exchange is a digital marketplace where you can trade and buy crypto.
It is not possible to buy crypto from investment firms or banks. If you decide that you want to buy bitcoin or any other kind of cryptocurrency, you will have to first create an account on a crypto exchange platform to first exchange your money for digital assets.
You are allowed to exchange one crypto for another like you can convert Litecoin into Bitcoin or you can directly buy crypto via the use of regular currency like pounds or US dollars. Cryptocurrencies can also be converted back into US dollars, pounds or any other currency and stored in your bank account from where you can withdraw the money from any ATM worldwide.
If you choose to buy cryptocurrency, you need to understand that there is no specific crypto exchange that is best for you. The best option for you is to evaluate your interests in terms of cryptocurrencies and look for an exchange that streamlines with your goals. Suppose you choose to go for Gemini because Gemini has a specific coin that you are interested in. Alternatively, you choose to opt for Coinbase because Coinbase has extra features and tools which will allow you to earn as well as learn more about cryptocurrencies.
Before you decide to jump into cryptocurrencies, check the rules and regulations pertaining to your country regarding cryptocurrencies. Countries like China have completely banned citizens from using or accessing cryptocurrencies, while in the United States, the rules and regulations are very uncertain when it comes to cryptocurrency. Some states have even put in their own regulations regarding cryptocurrency exchange.
You can also buy crypto credit card. This will allow you to spend your cryptocurrencies as well as gain rewards on the expenditure of cryptocurrencies.
At this moment, there are no options pertaining to crypto reward credit cards in the United States. However, there have been talks about a few crypto credit cards launching later this year.
A crypto credit card works pretty much the same way as a normal rewards card would. You can swipe the card and make the purchase and you will earn rewards on the basis of the purchase. The primary difference with crypto credit cards is that you will be able to pay off the balance with cryptocurrency itself. You will also be able to earn rewards in bitcoins and other cryptocurrencies as well.
The trick to getting the right type of crypto card for yourself is to decide which type of reward card would suit you the most. If you are a crypto enthusiast, in that case earning bitcoins as rewards will be more appealing to you than getting travel rewards. On the other hand, if you love to travel, a travel reward card would be good for you Thus, it is best that you look into your interests before you decide which crypto credit card would be best suited to your needs and purposes.