8 Proven Ways for Legal & Safe Cryptocurrency Investment In 2019

Anisa Batabyal
| 27 February, 2019 | 2 min

Cryptocurrencies are gaining momentum every year. Web giants like Google who had earlier banned cryptocurrency advertising have now signaled a positive change by adding the Bitcoin symbol when a user long presses the “$” symbol. In this article, we will discuss the 8 proven ways for legal and safe cryptocurrency investment in 2019.


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1. Decentralized exchanges

People are in constant fear that whether their cryptocurrencies are safe with the centralized exchanges. They are constantly troubled with a thought “is buying cryptocurrency safe? “. Financial experts suggest that buying cryptocurrencies using centralized exchanges can be good but they don't offer much security. Thus this article will list some best-decentralized exchanges that are safe. Some of them are:

  • Waves Dex
  • IDEX
  • OpenLedger Dex
  • Cryptobride Dex
  • Oasis dex
  • Radar relay
  • Batter dex

All these decentralized exchanges that are mentioned above are popular and hence it will make you're buying and trading of cryptocurrencies a much safer experience compared to a centralized exchange where the security is completely dependent on those who run the exchange. IDEX is one of the most reputed and provides a decent interface to trade. The ERC-20 tokens can be traded with help of MetaMask wallet. There is a learning curve for using exchanges like IDEX and because the orders are executed on the Ethereum blockchain, there are minimum order requirements. This begs the question, “Are your crypto tokens safe with decentralized exchanges? The answer is not very simple but compared to centralized exchanges, it is much safer.

2. Good Centralised exchanges

If you are new to the crypto trading industry then having a list of these good exchanges can serve you with a lot of benefits. If the question is "is a bitcoin a good investment in 2019" and the answer will be resounding yes. There are some good exchanges that are available in the market but some of the best ones can be listed below:

  • Coinbase

This is the most user-friendly exchange that is available in the market right now. The exchange was founded in 2012 and was first to have a market cap of $1 billion and the status of "unicorn“ in the crypto trading market.

One of the main highlights of this exchange is their plus functionality. Meaning when you visit the website of this exchange you will find a plus functionality feature which will serve as the wallet, tool, and exchange for markets. This coinbase as in absolute treat for the beginners as the user interface is easy to use which lets you purchase several cryptocurrencies like Litecoin and Bitcoin.

Coming to its legal and safety it is the most reliable exchange according to Forbes with a partnership with various companies like Overstock, Expedia and DISH. Furthermore, it is available in both available Android and IOS platform which has helped in increasing their popularity. So the questions such as is bitcoin trader safe should not bother you when you are dealing with this exchange

  • Binance

This crypto exchange has been the household name in the cryptocurrency world. According to recent local reports it has been termed as the world biggest cryptocurrency exchange. Now in recent times there has been constant debate about two things:  (i) is buying cryptocurrency safe and (ii) is a bitcoin a good investment in 2019. Both these statements have been in a constant state of discussion. "Right now, Binance is still a major cryptocurrency exchange and many people view us like that, but we are building the ecosystem. We want to be the infrastructure services provider for the blockchain space, so we have a number of different initiatives," Binance CEO Changpeng Zhao told The Street earlier this month.

3. Trusted Coin Conversion Services

Coin conversion services like CoinSwitch help users trade coins across several exchanges available. It allows the users to make a choice of trading on the different exchanges based on the price of conversion, and which exchanges they prefer to trade using. Thus CoinSwitch just like blockchain technology tends to give the power back to the people, with the several choices of exchanges and coins available on the platform.

CoinSwitch for example also allows for fiat currency to be deposited through Mastercard and Visa credit cards. With no KYC needed, CoinSwitch thus allows you to enter the cryptocurrency market in a simpler manner. Plus it allows you to invest in several coins with a click of a button.

4. Safe wallets

There are various wallets available in the cryptocurrency industry that are designed to make your crypto tokens safe. Some of the different types of wallet that is available in the market are the mobile wallet, hardware wallet, cold wallet, and desktop wallet. People who are concerned have asked themselves is bitcoin safe and legal to keep in a wallet. After using the wallet for some time they have their answer has been yes. When you are about please keep in mind four things

  • Support: does it provide support to all cryptocurrencies
  • Cost: is the wallet free
  • Security: how secure is the wallet
  • User experience: how convenient it is

In addition, some of the most popular bitcoin wallets are Ledger Nano S, Electrum, Jaxx, Myecelum, and Greenbelts.

5. Cloud mining

Bitcoin cloud mining is considered to be one of the ways to make passive income with crypto these days. Now you need to prioritize what you can do with your money. For instance, if you just want to own a few Bitcoins then just buy them, but if you want to delve deep in the mining technology and have a passive income, mining is for you. But be careful because there are a lot of Cloud Mining websites that are fake and are not reliable. Read the reviews first.

6. Airdrops

It is a known fact that you can make money through cryptocurrencies, but all are not without investment. One of the easiest ways to make money through cryptocurrencies procedure is airdrops. Airdrops are basically free tokens being dropped into your wallet. Sometimes you get rewarded for tweeting about the project, inviting your friends or some other simple tasks. You need not invest any money. But some of the airdrops require you to own some tokens. In simple terms, if you are the holder of HODL and if an airdrop is made then you will eligible to earn other coins and token since an airdrop was made in parent coin.

7. Bit pay

BitPay is a crypto payment gateway, like a PayPal for crypto. You can integrate this into your website and allows your customers to pay via Bitcoin or other cryptocurrencies. This platform of cryptocurrency payments is one of the genuine ones. It helps you accept BTC and other crypto payments with no risk of fluctuations. This company is totally safe and trusted by thousands of business worldwide like Neteller, Shopify, airBaltic, Microsoft and Virgin among others.

8. Vetted ICOs

ICOs gained popularity in 2017 and Billions of dollars have been raised in the last two years. But many ICOs have little substance. Hence there are watchdogs and ICO ranking sites that will tell you whether investing in particular cryptocurrency ICO is safe or not. The project team usually submits the white paper, plans, and source code for the inspection of vetted ICO.

Conclusion

There are legal and safe ways to invest in the cryptocurrency market. You need to be careful as there is not much regulation around this. But there are ways and if one is keen, they can make a good return with or without an investment in the cryptocurrency sector.

About CoinSwitch

CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like KuCoin, IDEX, Changelly, Cryptopia, ChangeNow and Changer without creating an account on them. If you are interested in buying cryptos, do give it a try!





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