To kick things off, we’ll start with a few general tips every new trader needs to know when buying crypto. From there, we’ll cover the best places to buy crypto. In doing so, we’re going to explore the difference between centralized vs. decentralized exchanges. Next, we’ll explain what makes Moralis Money the best, safest, and cheapest way to buy crypto. And to top things off, we’ll demo Moralis Money to highlight the accessibility of swapping crypto with this platform.
If you’re eager to get going and want to start swapping immediately, then here’s a quick demo GIF showing you how easy it is to buy/swap with Moralis Money:
Things You Need to Know When Buying Crypto
If you’re looking to get into crypto trading, there are a few things you need to know about before you start buying crypto. So, here are five crypto trading tips:
- Tip #1 – Get and Manage a Wallet: An essential asset every crypto trader needs is a Web3 wallet. A Web3 wallet is a software program allowing you to store digital assets like Bitcoin, Ethereum, and even non-fungible tokens (NFTs).
Once you have a wallet and have made your first purchase, make sure to also manage your portfolio. If you’d like to learn more about this, check out our comprehensive guide on crypto portfolio management.
- Tip #2 – Develop an Altcoin Trading Strategy: You should also develop an altcoin trading strategy that suits you. This will help guide your investment decisions and keep emotions in check.
- Tip #3 – Only Invest What You Can Afford: As with any investment practice, you should only invest what you can afford. There’s no need to jeopardize your personal economy by going over the top to take out loans or sell your home.
- Tip #4 – Do Your Own Research (DYOR): Always remember to DYOR before buying any cryptocurrency. Check out the project’s website, analyze the team, and evaluate market metrics like trading volume, market capitalization, holders, etc.
- Tip #5 – Diversify Your Portfolio: Diversification is another critical aspect of investing. Don’t put all your eggs in one basket. By investing in several cryptocurrencies and various asset classes, you can minimize risk.
Nevertheless, that covers a few fundamental tips for buying cryptocurrency. Let’s now explore the best places to buy crypto!
The Best Places to Buy Crypto
If you’re looking to buy crypto, you’ll likely want to go through an exchange. And there are two main types: centralized vs. decentralized. In this section, we’ll briefly cover them both:
- Centralized Exchanges (CEXs): A CEX is a crypto trading platform controlled by a central entity acting as an intermediary between buyers and sellers. CEXs are a popular choice among new traders as they generally offer intuitive user interfaces and require less technical knowledge to navigate.
However, CEXs store digital assets on behalf of their clients, which means they also hold their private keys. As you can imagine, this presents a potential security risk if something happens to the platform.
What’s more, users also need to undergo a know-your-customer (KYC) process to comply with regulatory requirements. As such, CEXs remove the anonymity aspect of trading, which many crypto enthusiasts hold dear.
- Decentralized Exchanges (DEXs): A DEX is a cryptocurrency exchange built on a decentralized, non-custodial blockchain network like Ethereum. Furthermore, these platforms support direct peer-to-peer (P2P) transactions. Consequently, instead of being facilitated by central authorities, DEXs operate through smart contracts, which are self-executing, blockchain-based programs. This eliminates the need for intermediaries, meaning that DEX users are in complete control of their assets and private keys at all times.
However, from a conventional perspective, it has been relatively hard to use DEXs, especially for novice traders. It has required more technical expertise, and they don’t always feature the most intuitive user interfaces. Fortunately, this has improved over the past couple of years.
So, what is the best place to buy crypto?
Well, both CEXs and DEXs have their advantages and disadvantages. As such, it’s up to you and your preferences to determine which platform type suits your needs as a trader!
Swaps vs. Exchanges
Along with a distinction between centralized and decentralized exchanges, we also need to briefly cover the differences between swaps and exchanges, as this is a confusing topic for many new traders. So, what are the differences?
In short, a crypto swap platform lets you immediately swap one crypto for another without intermediaries. And this process is most commonly facilitated by DEXs. Meanwhile, an exchange is a digital marketplace functioning similarly to a conventional stock exchange, where it’s possible to sell, buy, and trade crypto for fiat and vice versa. And when talking about exchanges, people generally refer to CEXs.
If you’d like to explore this topic further, please check out our guide explaining the differences between a crypto swap vs. an exchange in more detail!
Different Ways to Buy Crypto
In combination with various places to buy crypto, there are also different ways to get it done. And in the sections to come, we’ll explore the following three examples:
- Buy Crypto with Fiat
- Buy Crypto with Crypto
- Buy Crypto With Cash
1. Buy Crypto with Fiat
Your first option, which you’ll likely have to go for if you’re new to the industry and want to load up on coins for the first time, is to buy crypto with fiat currency. If this is your ambition, the best and easiest way to do so is to use a CEX. CEXs usually allow you to add your card/bank details and buy crypto with conventional fiat currency.
2. Buy Crypto with Crypto
A second option is to use one crypto to buy another. And as you can imagine, a prerequisite for this method is that you have crypto to begin with. However, once you do, you can easily swap crypto using a DEX, which, in many cases, can be a more economically friendly alternative than buying crypto with fiat. This has to do with the fact that swapping crypto generally requires fewer transactions and, therefore, lower fees.
3. Buy Crypto with Cash
Lastly, a third way to buy crypto is to use cash. This option is quite limited and may not be an alternative for everyone. In some places, such as the USA, it’s sometimes possible to use specific types of ATMs, allowing you to insert cash and deposit it as cryptocurrency. A common type is ”Bitcoin ATMs,” which allow users to input some money and deposit it as Bitcoin.
What is the Best, Safest, and Cheapest Way to Buy Crypto?
There are many prominent CEXs and DEXs that you can leverage to acquire cryptocurrencies; however, at the top of the list, you’ll find Moralis Money standing out as the best, safest, and cheapest way to buy crypto.
Moralis Money is an industry-leading crypto scanner and the best altcoin exchange. The platform leverages blockchain data in real time, giving you true market alpha. As such, by using Moralis Money, you can seamlessly find up-and-coming crypto and buy them at the click of a button before they break out!
So, how does it work? And why is Moralis Money the best, safest, and cheapest way to buy crypto?
Why Moralis Money Presents the Best Way to Buy Crypto
First of all, Moralis Money features an intuitive user interface, allowing you to seamlessly swap any crypto at the click of a button. All you have to do is visit at coin’s token page, connect your wallet, and hit the ”Swap” button to the right. This is an example of what it can look like:
However, the crypto swap feature is just the tip of the iceberg; there’s a lot more to the platform contributing to making it the best way to buy crypto. For instance, along with the swap, Moralis Money also features an industry-leading Token Explorer.
With this tool, you can effortlessly find the most undervalued crypto before everyone else to avoid crypto FOMO. What’s more, Moralis Money also supports multiple blockchain networks. Consequently, you can find and swap crypto on networks like Ethereum, BNB Chain, Polygon, and others. This makes Moralis Money the ultimate one-stop shop for crypto traders and the perfect platform if you’re looking to maximize your gains.
If you’d like to learn more about some of the platform’s other features, check out our three crypto trading tips guide!
Why Moralis Money is the Safest Option
Moralis Money is non-custodial. This means that the platform, like a DEX, doesn’t take custody of your digital assets. Consequently, you always remain in full control of assets and private keys. This makes Moralis Money as safe as DEXs and safer than CEXs struggling with the issues associated with a single point of failure.
In addition to this, Moralis Money is also equipped with additional layers of security, helping you, as a trader, make more solid investment decisions. This is where the Token Shield features enter the equation, giving you a security evaluation for all coins. On each token page, you can find a token’s DEXT score, along with additional security information protecting you from potential scam coins:
Why it is the Cheapest Option
Moralis Money leverages the 1inch DEX aggregator. This protocol optimizes trades across multiple DEXs, rerouting transactions between them to deliver the lowest fees and the best prices possible. As such, thanks to the utilization of this protocol, Moralis Money also stands out as one of the cheapest crypto swap platforms available!
Note: if you’re trading on a network like Ethereum – where congestion is somewhat problematic – always remember to keep an eye on the current gas fees.
The Cheapest Way to Buy Crypto: Demo
Now that you know what makes Moralis Money the best, safest, and cheapest way to buy crypto, let’s closely examine how it works. In doing so, we’ll show you how to find, analyze, and buy tokens in three straightforward steps:
- Step 1 – Find Tokens with Moralis Money: To find lucrative investment opportunities, you can leverage Moralis Money’s Token Explorer feature. With this tool, you can combine 20+ parameters to create unique search strategies. In doing so, you can target precisely the coins you’re after.
To exemplify, let’s create a custom search query targeting new secure coins gaining interest from experienced buyers. To do so, we can combine the Coin Age, Security Score, and Experienced Net Buyers metrics:
- Step 2 – Analyze Tokens with Moralis Money: Once you have generated a list of potential altcoin gems with your search strategy, you can click on either of the tokens to learn more about them. Clicking on a coin takes you to its token page.
These pages feature the current price of the token, security information, trading charts, and alpha metrics like changes in net experienced buyers, liquidity, holders, etc., over time, and much more:
- Step 3 – Swap Tokens with Moralis Money: After your analysis, you can also purchase a token directly from its page. All you have to do is connect your wallet and click on the ”Swap” button to the right:
To further highlight the accessibility of this feature, here’s a GIF where we swap DUCKIES for wrapped BTC:
That’s it; when working with the best, safest, and cheapest platform to buy crypto, it doesn’t have to be more difficult than that!
Other Places to Buy Crypto with Low Fees
Even though Moralis Money stands out as the best platform to buy crypto, multiple other alternatives also offer low fees. Below, we’ll give you seven prominent examples:
Conclusion: The Cheapest and Best Way to Buy Crypto
Moralis Money is the cheapest, safest, and best way to buy crypto. With this tool, you can both find, analyze, and acquire the tokens you’re interested in. This makes Moralis Money the ultimate one-stop shop every trader needs!
What’s more, did you know that it’s possible to supercharge the features of this industry-leading platform by subscribing to the Moralis Money Pro plan?
Doing so will give you access to premium education, a private Discord server, narrower timeframes for all search parameters, and much more:
Also, if you want to experience the power of this tool firsthand, you can do so right here. Use the interactive widget down below to create a custom search strategy, or use one of the pre-built alternatives: