Standing in today’s world, investing in crypto is always an intelligent choice. But, most new as well as experienced traders often do not want to invest all their funds in crypto. That is when they look for the platforms and cryptocurrencies that fit their budget perfectly. Some of the popular brands include eToro, Coinbase and Binance to name a few.
If you also want to know how you can buy crypto on a tight budget, you have to know about the affordable trading platforms and cryptocurrencies. So, without further ado, let’s start reading.
But, first, here’s a quick trick for you.
Earn cryptocurrency dividends:
If you want to earn cryptocurrency on a tight budget, the best thing to do is follow this trick. For this, all you have to do is buy any crypto and hold it for a while. As a result, developers will pay you for holding their virtual assets. You do not have to do anything besides holding the crypto into your wallet, not even staking the currency.
In the crypto world, the value of a digital currency goes up with the number of buyers it gets. Thus, almost all developers try to gather more buyers to prove that they have earned lots of investors. So, they attract buyers and let them buy several cryptocurrencies at a low fee. Therefore, it will be beneficial both for you and the developer if you buy crypto and hold it for a while in your wallet. Then, you can sell it once the market price goes upwards for earning profit.
Choose the right cryptocurrency:
Not all cryptocurrencies are the same. All contain several qualities, prices, exchange rate, and other features. But, most of us tend to misinterpret crypto as Bitcoin since it is the most used and distinguished cryptocurrency. However, for those who are looking for affordable crypto, Bitcoin may not always fit in your budget. But, it doesn’t mean that there are no other options. You can have a look at a full review of the forex deposit bonus to find out more about investment options in the crypto market. So, let’s look at some budget-friendly crypto alternatives of Bitcoin that will help you to start your crypto trading journey without a heavy investment.
- Dogecoin:
Dogecoin has become one of the most prominent and viable cryptocurrencies, and most people consider investing in the present day. The journey of Dogecoin was started as a meme coin that nobody expected to survive with time. The main reason behind the success of Dogecoin is the way it fits into everyone’s budget.
- Ethereum:
Another great crypto for starting with is Ethereum. It is a prominent cryptocurrency based on a smart contract blockchain that allows decentralized application. However, it is not the most budget-friendly crypto in the world yet worth investing in. When it comes to market capitalization, Ethereum comes right after Bitcoin. However, for those with a tight budget, buying Ethereum is, without a doubt, an innovative and inexpensive option.
- Cardano:
Cardano is a cheap and safe cryptocurrency you can easily invest in at just over $2. It is a blockchain platform built on a proof-of-stake consensus protocol named Ouroboros that can effortlessly validate transactions without any high energy cost. That is why; it is a perfect fit for all who are looking for cheap and secure crypto for trading.
Additionally, you can buy cryptocurrencies such as Polkadot, Monero, Stellar, Chainlink, Tether, etc., on a tight budget.
Check out Forex cent account brokers for detailed information about Forex brokers, conditions, rules of crypto trading, etc.
Use these platforms for making your crypto purchase:
There are a few ways that you can use for buying your preferred crypto within your budget. Let’s have a look at some of them.
- eToro:
eToro is a leading crypto exchange platform that offers customers crypto trading without any trading fees. You can buy up to 15 different cryptocurrencies from eToro without any hidden charges. The deposit fund of eToro is completely free for all users. But, traders have to pay $5 while withdrawing. It is easy to use and free, and you can benefit from this platform from 140+ different countries.
- Coinbase:
Coinbase is another inexpensive platform for buying crypto, especially the star of the crypto world, Bitcoin. If you are not into Bitcoin, you can trade ten other cryptocurrencies in Coinbase. The best part about Coinbase is its easy-to-use user interface or UI. The customer support service of Coinbase, on the other hand, is excellent. The only bad thing about this trading platform is its high credit and deposit fees. Coinbase charges a 1.49% trading fee each time you exchange crypto. But, you can opt for a SEPA or ACH transfer through Coinbase since both of these are free.
- Binance:
For those who are looking for a crypto trading platform on a tight budget, Binance is another excellent option. You only have to pay 0.1% trading fees once you get your hands on Binance. However, the best part is that you can easily skip or pay lesser trading fees if you exchange your crypto using BNB coins. Binance charges an additional $1 to $5 depending on which cryptocurrency you are exchanging. The availability of 120+ different and the best cryptocurrencies, a strong and supportive customer service, and inexpensive trading charges make Binance one of the most affordable crypto trading platforms.
- CashApp:
CashApp is a well-known money exchanging platform that introduced crypto exchange with a low trading fee in 2018. You can buy and sell Bitcoin through this app easily whenever you want. For Bitcoin exchanging via CashApp, you have to deposit some funds to this app. Once your account gets linked with this app, you can easily buy Bitcoins with zero trading fees through this app. Additionally, Bitcoin withdrawal is also available in this easy-to-use app.
You can get side by side comparisons between the leading crypto trading platforms, their reviews, deposit and withdrawal conditions, etc., on trading 212 vs plus500.
Conclusion:
To conclude this, we must say that it is upon you which crypto you want to choose and which platform you want to start trading. So, think about your requirements, analyze your financial condition, and then only start your crypto trading journey.
Author
George is the Chief Market and Broker Analyst at brokertested.com. Prior to being recruited by brokertested.com, I served SVS Securities as Chief Market Analyst for two years. Earlier, he joined Morgan Stanley in Nov 2013 as Research Analyst.
George is a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.