With Initial Coin Offerings (ICOs) happening every day, it can be hard to find the best opportunities out there to invest in the world of crypto. The early bird gets the worm, and you don’t want to miss out on getting some of those coins that shoot up 50% on their first day of trading! Here are some helpful tips to ensure you get your slice of the cryptocurrency pie. How to Buy Crypto on the First Day of Launch
Steps
Before launch day, decide which exchange you’re going to use (or your preference is). The main exchanges that I recommend are: Coinbase, GDAX, and Gemini. I will explain each and list pros/cons below. There may be other reputable exchanges out there but these are safe bets for a U.S.-based consumer. You can check out my guides on how to sign up here
Tools you will need
You will need a digital wallet from an exchange that supports that specific cryptocurrency. If you don’t have one, now is a good time to create one.
Coinbase accounts
If you’re in America, set up a Coinbase account (it doesn’t cost anything, and all it requires is an email address). This will enable you to buy cryptocurrencies with regular money via bank transfer or credit card. If possible, try setting up two accounts—one that pays a credit card bill every month (to avoid transaction fees) and one that uses your bank. While most exchanges are secure, remember that if you leave money in an exchange it can be subject to theft by hackers.
COSS account (if applicable)
To buy crypto through an initial coin offering (ICO), you’ll need to open a COSS account. The COSS platform allows you to exchange a variety of cryptocurrencies, including Bitcoin and Ethereum. You can also make purchases through your account with US dollars or Singapore dollars. While you don’t have to trade fiat currency for cryptocurrency through COSS, it’s often easier and cheaper than using other platforms like Coinbase that accept only cryptocurrency payments.
MyEtherWallet accounts
With over $3 billion raised via token sales and ICOs since 2014, ether has emerged as one of the hottest new investment opportunities. And now anyone can get in on it—if they know where to look. One such place is MyEtherWallet (MEW), a free, open-source tool that gives users direct control over their cryptocurrency investments. Here’s how it works.
Step-by-step guide
You’ve got your eye on a hot new crypto, but you want to wait until it launches so you can buy in at just $0.01/coin! Don’t miss out! Here’s what you need to do A) Set up an account with Binance or Coinbase (or another exchange) and verify your identity by uploading copies of your passport and driver’s license. Note: If you use Coinbase, make sure to link your bank account (and not credit card!) when setting up an account—otherwise you won’t be able to transfer funds from Coinbase into other exchanges easily. B) Open a new trading account with Binance or Coinbase and deposit funds into that account via wire transfer or credit card.
FAQs
How do I buy cryptocurrency? There are three main ways to acquire crypto: trading, direct purchase and mining. Each method has its own advantages, so think carefully about which one makes sense for you. Here’s a breakdown: Trading is a great way to get into crypto if you already have some experience with investing or trading.