Many beginners and seasoned investors choose a big and popular crypto platform because it feels safe and comfortable. After all, one major reason a platform became big and popular is that many customers found it trustworthy, useful, and secure.
Choosing among the crypto investing apps
There are already several crypto investing platforms in Canada with thousands of users and customers. Customers found these platforms useful because they make it quick and easy to invest in crypto even without much technical know-how.
One of those useful platforms is Coinberry. More than 220K Canadians have already signed up, and the platform has already surpassed $1 billion in crypto trading. One reason for that huge number of customers is that the platform makes it quick and easy for beginners to buy some crypto. In addition, customers gain peace of mind because Coinberry is the only insured, OSC & FINTRAC registered, and PIPEDA compliant crypto trading platform trusted by Canadian municipalities.
Those registrations and compliance are important in safeguarding the customers’ funds and personal information. This way, customers gain peace of mind, and they have more mental energy to focus on the actual crypto trading. They won’t have to worry about their personal data and instead think more about which cryptocurrencies to buy.
Which platform is best for crypto in Canada?
When choosing a crypto platform, beginners often start with the most popular or the ones with the most number of users. There’s safety in numbers and being part of a herd, especially when avoiding several mistakes and ensuring security in financial transactions.
In addition, big platforms often facilitate easy funding and support multiple cryptocurrencies. For example, it’s common for a crypto platform to support Interac e-Transfer so that users can easily fund their accounts with money from their banks. Also, a big platform often supports at least 20 cryptocurrencies, so users will have a lot to choose from. Bitcoin and Ethereum are sure to be present, and other popular cryptos and tokens with huge market capitalizations are also available.
For instance, many beginners start crypto trading through Coinberry because of the 29+ cryptocurrencies they support (they are continuously adding more cryptos and tokens as of this writing). There you can find Bitcoin, Ethereum, Aave, Cardano, Axie Infinity, Balancer, Basic Attention Token, Bitcoin Cash (BCH), Compound, Dogecoin, Polkadot, Litecoin, Terra (LUNA), Decentraland (MANA), Polygon (MATIC), and many other tokens and cryptocurrencies.
How much money do you need to start with crypto?
For as little as 50 CAD, you can start buying some crypto through Coinberry. It’s low risk, and this makes it easier to get started.
You don’t have to commit thousands of dollars. If you’re new to crypto, you can start with just 50 CAD and take it from there as you learn more about the crypto and blockchain space. With this minimal investment, you can go straight in and buy some Bitcoin or Ether. With this initial action and momentum, you can accelerate your learning in case you want to better understand how cryptos and trading work.
Cryptocurrency trading for beginners
But before you put your money into buying some crypto, it’s important to learn the fundamentals first and how seasoned investors approach their portfolios.
First, experienced investors only invest what they can afford to lose. Many of us think that millionaires and billionaires have made it big because they risked it all once. But often, the truth is that they avoid risk as much as possible and they can’t say no to sure money. Although risks are always present, they try to eliminate as many as possible and minimize their effects. Sure, luck played some role, but they remained cautious every step of the way.
Second, don’t believe the hype and do your own research. It’s still up to you whether you buy some Bitcoin or a new cryptocurrency that’s believed to “disrupt the entire blockchain and transform finance.” You can always do your own analysis of the costs, risks, and benefits of buying a particular crypto or token. You can also develop a strategy suited to your current resources, personality, and risk appetite.
Third, there’s always something new and shiny in the crypto and web3 world. It’s almost impossible to keep up with the latest developments on Bitcoin, Ethereum, and other cryptos and blockchain networks. More and more regulations are also being formulated and implemented, which can significantly affect the prices of cryptocurrencies and whether they will continue to exist or be of use. Keeping yourself updated with many of these developments will consume much of your time and attention.
Fourth, it might be much more effective and productive if you only buy a certain amount of crypto each week. This way, the cryptos’ prices will average out and help you avoid the highs and take advantage of the lows (with low prices, you can buy more crypto). You don’t have to time the market and spend much of your time analyzing the trends and every bit of news and update out there. As a result, you will have much more time for other pursuits such as your career, a side job, or a business. This is a time-saving and systematic way of taking advantage of crypto’s volatility without it taking too much of your time.
How to start investing in cryptocurrency?
Now that you’re more aware of the risks, costs, benefits, and strategies related to cryptocurrency trading, it’s time to start and get it done quickly and securely.
Many crypto beginners sign up to Coinberry because it’s one of the biggest crypto platforms in Canada. More than 220K Canadians have already signed up, proving its popularity and growth in recent years.
The entire platform or app is easy to navigate. Buying or selling is straightforward and will only take a minute or two as long as you’ve already determined the amount you’re willing to buy or sell. With this ease of use, beginners and experienced investors can quickly buy some crypto and immediately get busy on other important matters in their lives.