I am new to cryptocurrencies. I was thinking about buying Ethereum or TRON.
What is the best way to fund the purchase without paying high fees and what are the safest wallets to store it? I would rather buy it peer to peer to avoid these hight fees but there are no crypto machines or groups in my area that I know of.
I saw one wallet but it turned out that it was located in Lithuania. I’m not sure how secure that would be or should I worry about that?
My steps to secure crypto would be:
1- Get a versatile/safe wallet
2- Buy crypto from an individual not an exchange
Any suggestions would be appreciated. Thank you!
So, first, I’d probably suggest Bitcoin Cash if you want something you can easily spend. Dash is also widely accepted in New Hampshire by merchants here. Same to Bitcoin though the fees are so high it’s not really worth getting if you are looking for a cryptocurrency as opposed to “investing” in crypto. Don’t get me wrong, it’s been the best “investment”, but it’s power is in the control and freedom, and I’d rather promote that.
There are different ways to acquire crypto. Certainly the easiest is living in a place where crypto is widely utilized like Keene, NH and simply making a purchase from another user who is willing to trade with you. However 2nd to that you might try local.bitcoin.com for a less centrally controlled “exchange”. Not sure if you can call it an exchange really- but you can buy and sell crypto directly via other individuals and/or businesses. Just be a little weary - start with someone whose got a lot of sales, a good reputation, and start small so if you make a mistake and get taken advantage of it’s not a huge loss. Basically it’s a little like eBay with ratings of sellers as I understand it and it’s up to you to evaluate a seller. Choose a dishonest seller and expect to get defrauded. So start small, pick someone with a good rating, lots of sales, and start off with a small buy. As you buy more slowly increase how much you buy to reduce the initial risk that exists.
The Edge Wallet is probably the best wallet to get for someone who wants to be able to accept, convert, buy, and sell cryptos, and be both easy to use and not run into significant issues while doing these things. There is a login system where your private keys get encrypted and backed up so its hard to lose your crypto and since you are still in control you’re not handing your private keys over to a third party so you remain in control of that crypto. Hosted wallets are bad because you aren’t in control of the crypto- some third party is. They security adage is not your keys not your crypto is as the saying goes.
Trust Wallet supports a great many cryptocurrencies.