Starting to save in cryptocurrency can be done through the following steps:
- Choose a cryptocurrency exchange: Choose a reputable cryptocurrency exchange that supports the cryptocurrency you wish to save in. NBX is a Norwegian cryptocurrency exchange established in 2018 and based in Oslo, which offers a convenient fiat gateway in several currencies like EUR, NOK, DKK, and SEK.
- Set up an account: Sign up for an account on the cryptocurrency exchange of your choice. The account setup process typically involves verifying your identity and linking a payment method, such as a bank account or credit card.
- Choose a cryptocurrency to save in: Select the cryptocurrency you wish to save in, for example, Bitcoin or Ethereum.
- Purchase recurrently: Set up a recurring purchase plan to buy a certain amount of the chosen cryptocurrency regularly.
- Store your cryptocurrency securely: Once you have bought cryptocurrency, it is essential to store it securely. You can store your cryptocurrency in a digital or hardware wallet, a physical device that stores your cryptocurrency offline. NBX offers custody service in addition.
- Monitor your investments: Keep track of your cryptocurrency investment by regularly monitoring the market and adjusting your investment strategy as needed.
It is important to note that investing in cryptocurrency carries a high degree of risk due to its volatile nature, and investors should do their own research and seek professional advice before investing in cryptocurrency. Additionally, it is important always to store your cryptocurrency securely to prevent loss or theft.
The article does not constitute financial advice.