How To Buy Crypto, Sell Crypto, and Convert Crypto
Welcome to the inaugural article of our “How To” series. What better way to kick it off, than to dive into how you can buy crypto, sell crypto and convert crypto.
Whether you're a seasoned investor or just at the beginning of your crypto journey, this comprehensive guide will walk you through the essential steps on how to buy crypto, sell crypto, and convert crypto. Let's get started with how you can buy crypto.
How to Buy Crypto
Step 1: Research and Choose a Reliable Exchange
Before entering the cryptocurrency space, thoroughly research and choose a reliable exchange. Opt for platforms with a user-friendly interface, strong security, and a broad range of cryptocurrencies. With Finst you can trade over 170 cryptocurrencies in EUR, with maximum safety and transparency. Here’s how:
Cryptocurrency vault; Your digital assets are held with Fireblocks, which makes use of Multi-Party Computation (MPC) technology with hardware isolation to secure your assets from external attacks, internal collusion, and human error.
Money safekeeping; Your money is kept separate from our assets as a company on a 1-1 basis and safely stored with bunq, a regulated and one of the most reputable Dutch banks.
Asset segregation; Your digital assets are segregated from us as a company, ensuring you maximum protection no matter what happens to us.
Proof of Reserves (PoR); Finst is the first and only Dutch crypto platform that successfully obtained a Proof of Reserves (PoR) from an independent and reputable audit firm (Audit Now).
Also important to consider the fees that you incur while trading crypto. Using Finst, you will encounter the lowest trading fees in the Netherlands without any hidden costs. A flat fee of 0,15% per trade. That’s it.
You save an average of 83% on your trading fees. But don’t take our word for it, check out the comparison chart on our fees page.
Step 2: Create an Account
Once you've chosen an exchange, the next step is to create an account. You can open an account online with Finst without any costs. Opening an account only takes 5 minutes and can be done via our mobile application.
Step 3: Deposit Funds
After successfully creating your account, you can make your first EUR deposit. Finst currently supports instant payment methods such as iDEAL, Bancontact, and SEPA bank transfers.
Simply deposit funds to your account by clicking on the “Deposit/Withdrawal” button located on the trading platform and follow the instructions. You can also Deposit funds via bank transfer in EUR with the unique payment description in your account. At Finst depositing and withdrawing funds is always free without any minimum amount.
Step 4: Choose Your Cryptocurrency
With funds in your account, it's time to choose the cryptocurrency you want to buy. Use the search function on the platform to find your preferred digital asset. If you're new to the world of crypto, consider starting with well-known cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH).
Step 5: Place an Order
Decide on the amount of EUR you want to invest or the quantity of cryptocurrency you want to buy and place an order on the platform. You’re all set. Congratulations on your trade!
To see a tutorial on how to buy crypto with Finst, click on the video below.
How to Sell Crypto
Step 1: Choose the Right Time to Sell
The crypto market can be quite volatile, so timing is crucial for selling cryptocurrency. Keep an eye on market trends, news, and price movements to make informed decisions. Sell when you believe the market conditions are favorable. You can sell your crypto at any given time.
Step 2: Select the Cryptocurrency to Sell
If you hold multiple cryptocurrencies, choose the specific asset you want to sell. Simply do so by logging into the Finst trading platform and navigating to your “Wallet”. Tap on the digital asset you want to trade and locate the "Sell" option.
Step 3: Confirm the Transaction
Review your sell order, including the amount and price, before confirming the transaction. Once confirmed, your order will be executed at the best available price, and the amount will be credited to your EUR balance. You can easily view your EUR balance at the top of your screen.
For a visual walkthrough on how to sell crypto with Finst, check out the tutorial below.
How to Convert Crypto
Step 1: Choose the Crypto
Using your Finst account, you can easily convert any cryptocurrency to another. Begin the conversion process by selecting what crypto you would like to convert.
Step 2: Select the Cryptocurrencies
Once you’ve decided what crypto you want to exchange, you can select what cryptocurrency you’d like to trade it for. You can either enter the EUR amount you’d like to swap or the specific quantity of crypto you want to convert.
Step 3: Place the Convert Order
Similar to buying and selling, place a convert order. Review the details, including the conversion rate and fees, before confirming the order. To further familiarize yourself with the process of converting crypto, check out our video tutorial below.
Conclusion
Congratulations! Not only have you reached the end of the article, but you've now navigated the process of buying, selling, and converting cryptocurrencies. By now you probably bought your first crypto with Finst.
Remember to stay informed about market trends, continuously educate yourself, and consider seeking advice from financial experts. For further information on all things crypto and the Finst platform, check out our Help Center.
