![]() ![]() Luckily, there are a lot of good wallets to choose from that can store multiple cryptocurrencies. If you buy Litecoin, you'll need a wallet that can store Litecoin. If you buy Bitcoin, for example, you'll need a wallet that can store Bitcoin. The wallet you need will depend on which cryptocurrency you want to buy. Hardware wallets: A portable device you plug into your computer via USB (the safest option).Software wallets: An app you download (safer than an online wallet).Online wallets: The quickest to set up (but also the least safe).Why? Because if someone steals crypto from your wallet, there is no way to get it back. However, it is crucial that you select a wallet with a high level of security. There are a lot of easy-to-use and safe options to choose from. In the same way that you store traditional currencies (USD, JPY, EUR etc.) in your bank account, you will store your cryptocurrencies in your crypto wallet. You can compare a cryptocurrency wallet with your bank account. Now, let me introduce you to all the key things you should know about. So, you should consider transferring your crypto to a crypto wallet. While it's convenient, it might not be the best option in terms of safety. For one, you can leave the asset in the crypto exchange you bought it from, as they usually have built-it crypto wallets. Step 4: Once you buy crypto, you have to choose a storage method. Besides, note that different platforms might have slightly different ways of purchasing crypto. There is usually a huge variety of crypto assets to choose from. Step 3: Now that you have the platform for buying crypto and the cash, it's time to place your crypto order. ![]() The most popular, however, is using your credit / debit card. Different platforms offer different methods for doing that. ![]() After doing that, you have to fund your account with cash. Now, you must create an account on your chosen platform. Step 2: Let's say you chose a crypto exchange or a brokerage ( I'll discuss alternative platforms later).
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