How to Buy Crypto Using a Crypto Converter?

Cryptocurrency and blockchain are gaining momentum as a method of value exchange across the Internet. Since these networks do not live in a particular country and reside online, they are not limited to borders or the banking system, which would slow down the ability of funds to clear internationally.

The fact that cryptocurrency assets can be traded 24 hours a day, seven days a week, without any interruptions has attracted traders, speculators, and people who simply wish to move money around when the banks provide slower or more expensive services.

While remittance remains a popular use case for cryptocurrency, especially in the form of stablecoins, a growing cohort of value exchange in crypto revolves around speculation in tokens tied to tech companies and startups.

Since it is so easy to generate a token for your company, service or business and allow the public to access it versus, let's say, going public; companies now have access to retail capital faster than ever before.

By skipping regulations and the protection of securities laws, crypto tokens are an "off-shore" market where any individual with a computer can go out and speculate on different digital assets.

This is clearly evident when we see how many up-and-coming crypto projects emerge in the market, even when their trend is down. Today many people are interested in this field, compared with those times when crypto was an absolutely new word known among narrow circles of tech-savvy people. 

There are some ways to buy crypto:

1. You can address a crypto broker or OTC desk and give them fiat money. They will buy the needed crypto and take his commission.
2. You can use a crypto exchange if there are some in your region.
3. You can use a cryptocurrency converter online that simply swaps assets sent directly to it.

If you're all about simplicity and you don't care too much about getting the best price, only to avoid complexity, then the last option is the best way to become a crypto owner. The main goal of these services is to offer a reliable trading platform with a convenient cryptocurrency price calculator and swapping service.

Instead of worrying about order books and trying to match order volumes for your sales and limit slippage, these swapping services make it easier for you to exchange two assets without all the technical hassle.

If you want to buy crypto assets for dollars, then you should consider using centralised (regulated) platforms, for they allow transactions with fiat-crypto pairs due to having relationships with banks.

If you're still unclear on how the process works, let's have a look at how to buy cryptocurrency on the WhiteBIT exchange with dollars.

How to buy crypto with fiat using a cryptocurrency converter?

1. First, you need to register on the platform and pass KYC. Only verified clients access fiat-crypto transactions.
2. Next, you should move the necessary sum to your Trade account and go to the cryptocurrency converter.
3. In the left block, select USD (dollars), and in the right, choose the crypto asset you want to get.
4. Below, specify the sum of dollars you want to give.
5. The calculator will display the number of crypto coins you will receive.

Pay the fee, and crypto assets will be accrued in your account in a matter of minutes. WhiteBIT has deep pools of liquidity, so transactions process fast.

In a similar way, you can sell your crypto assets and buy dollars or euros and withdraw them to your bank card. If you need some practice, welcome to the WhiteBIT demo trading account. Using demo tokens, you will quickly handle the cryptocurrency converter.

How to purchase crypto using a fiat currency?

If you're a first-time buyer of cryptocurrency and want to buy it using fiat currency, there are several options available to you:

1. Contact a crypto broker who accepts fiat payments and buys crypto on your behalf, charging a fee for their services.
2. Look for a crypto ATM in your area.
3. Use a regulated crypto exchange that allows for fiat-crypto conversions.

The simplest and most secure option is to use a centralised and regulated crypto platform that supports fiat-crypto conversion. WhiteBIT exchange is an example of such a platform.

You can use the WhiteBIT crypto converter to select the fiat currency you want to convert and the coin you want to receive (such as SOL).

The converter will show you the relevant price for your pair and the fee involved. After paying the fee, the crypto will be instantly credited to your account.

Once the SOL in this example has been credited to your account, you are now free to withdraw it into a wallet where you hold the private keys, should you wish to use the SOL for things like paying for goods and services, staking, adding to DEFI liquidity pools, purchasing NFTs and much more.

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Recommended reading

If you enjoyed this post and have a little extra time to dive deeper down the rabbit hole, why not check out the following posts on cryptocurrency and blockchain.

• Why Blockchain and Cryptocurrency Is The Future Of Money
• 24 Ways To Earn Cryptocurrency
• How To Pay Tax On Cryptocurrency In South Africa
• How To Buy Bitcoin In South Africa
• Why Does Your Bitcoin Wallet Address Keep Changing?
• How To Tokenise Your Art & Sell It For Cryptocurrency

Disclaimer: This article should not be taken as, and is not intended to provide any investment advice and is for educational purposes only. As of the time posting the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency as all investments contain risk.

Tags: Cryptocurrency, Digital Assets, Stablecoins , Trading, Guest Post