Over some time, cryptocurrencies have established themselves as a favorite way of making payments. The fact that there is so much transparency makes them much more trustworthy.
A lot of new cryptocurrencies enter the market every other day, and there is scope for more. One among these cryptocurrencies is the Cred. Cryptocurrencies like Cred can be purchased with the help of any other crypto on a crypto exchange.
Here we will tell you all about buying Cred crypto.
What Is CRED Crypto
CRED, or LBA, is a cryptocurrency that usually operates on the Ethereum platform. At present CRED has a total of 1,000,000,000 with 990,410,204.8211558 tokens in circulation.
CRED first started trading on 22nd May 2018. Its market capitalization is around USD 1,875,672.05, and the prices keep zooming.
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How To Buy CRED Crypto
The CRED crypto is relatively successful and holds huge potential. That is why people prefer it as compared to other cryptocurrencies. Follow the below-mentioned steps to buy CRED crypto:
- Register on any Fiat to crypto exchange- There are many fiat to crypto exchanges available in the market. You will have to research which one of them is reliable and will take care of the money you invest. Do your research and check online for the pros and cons of each exchange. Some of the exchanges have their own mobile app so you can do your transactions on the move. Plus, the exchange should have no hidden costs and must offer transparency.
- Complete your KYC- Next, the exchange you choose will ask you to complete the KYC process. As part of the procedure, you must submit your identity proof, email address, home address, etc. You must also verify your phone and email address on the platform.
- Buy ETH- Once you have done the KYC, you can use Fiat money to buy ETH. First, you will be asked to provide a payment method. You will have to choose a method that suits you. It could be Credit/debit cards, bank transfers, etc. For credit card payments, some exchanges charge an extra fee.
- On the other hand bank transfer is cheaper but takes time to get processed. Now go to the transact screen and pick up your fiat currency. In To column you have to choose Ethereum and your purchase is complete.
- Transfer the bought ETH to any altcoin exchange- Cred is an LBA; hence it has to be transferred to an exchange where the LBA could be traded. Select your altcoin exchange from the many available. For best results, you should choose an exchange that offers multiple types of trading pairs. You will also be asked to complete KYC and set up 2FA authentication. Once done, you can add deposits to your account.
- Deposit the ETH you wish to exchange- Here, you might get confused with the exact process to do so. In a box, you will see some numbers, which are apparently ETH addresses. You can use these numbers in the previous altcoin exchange and deposit the ETH you wish to exchange. Once your ETH has arrived, you will receive a confirmation.
- Buy Cred- Go to the altcoin exchange and be prepared to complete the exchange. All the figures available for display might confuse you a little. On the right side, there will be columns with trading pairs. Make sure you select ETH as the first option and “LBA” as the second. You will see a price chart for LBA over there. There is a green box below that says “Buy LBA.” Over there, you will see the Market tab, as that is the most common way of making a purchase. You could either type the amount you wish to spend. Or just mention the percentage of the total amount you wish to use for the purchase. When you have mentioned everything correctly, you should click on Buy LBA. The Cred cryptocurrency has been purchased.
- Store LBA- You can now store your LBA in hardware wallets. This would guarantee a certain extra layer of security to the currency. Also known as cold wallets, apart from you, only they have access to your crypto. These USB-enabled devices will store all the information in one place and more securely. They are created with military-level security, and the manufacturers constantly maintain their firmware.
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Summing up
Whichever cryptocurrency you choose to deal in, remember to research its price and scope in the future.
CRED is a fairly preferred crypto, and the above steps will teach you how to buy it. Choose all your exchanges with care. You would not want to lose your money in these exchanges.
Hence choose an exchange that provides SSL encryption and ensures the safety of the deposit.
Follow all the steps carefully so you do not make any mistakes when making a deposit or buying CRED.
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