Q. How do I convert a big sum of fiat currency into crypto currency?
amrit

How do I convert a big sum of fiat currency into crypto currency?


cryptocurrecy
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Mar, 2019

Cryptocurrency
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  • iosgeeky

    Hi Serega, There are a few ways to convert a big sum of fiat currency into cryptocurrency. Here are a few of the most popular methods:

    • Use a cryptocurrency exchange: Cryptocurrency exchanges are online platforms that allow you to buy, sell, and trade cryptocurrencies. They typically offer a variety of payment methods, including bank transfers, debit cards, and credit cards. Some exchanges also offer margin trading and other advanced features.

    • Use a peer-to-peer (P2P) exchange: P2P exchanges allow you to buy and sell cryptocurrencies directly with other users. This can be a good option if you want to avoid the fees charged by cryptocurrency exchanges. However, it’s important to do your research before using a P2P exchange, as there have been reports of scams.

    • Use a Bitcoin ATM: Bitcoin ATMs are machines that allow you to buy and sell Bitcoin for cash. They are typically located in major cities and can be a convenient way to convert fiat currency into Bitcoin. However, Bitcoin ATMs typically charge high fees.

    • Use a cryptocurrency debit card: Cryptocurrency debit cards allow you to spend your cryptocurrency at any merchant that accepts Visa or Mastercard. This can be a convenient way to use your cryptocurrency without having to go through the hassle of converting it back to fiat currency. However, cryptocurrency debit cards typically charge high fees.


       

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Cryptocurrency

Cryptocurrency is a secure, trustful and transparent digital currency which can neither be counterfeited nor be reversed arbitrarily by the sender. It eliminates the necessity of a third party involvement for the exchange, as it is encrypted and peer-to-peer virtual currency. For those who prefer non-disclosure and privacy, cryptocurrency is the solution. The use of this kind of virtual currency prevents any kind of identity theft. The concept of cryptocurrency has given birth to reliable e-cash.

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