How to buy Digibyte
DigiByte (DGB) is a cryptocurrency based on open-source blockchain technology, first introduced in 2014. It is a freely-tradable, available on multiple exchanges, and, for the time being, one of the most secure and longest decentralized UTXO blockchains.
This security comes from its origin as a modification of Bitcoin with aims to diversify speed, security, and capacity potential. If you’re wondering if you should add this altcoin to your cryptocurrency portfolio or how to buy Digibyte, there are several exchanges where you can purchase the Digibyte cryptocurrency now.
What’s the difference between Digibyte buying and Digibyte trading?
Before moving further, you’ll need to familiarize yourself with the differences between buying and trading.
Purchasing cryptocurrencies is the process of exchanging a cryptocurrency or fiat money for the cryptocurrency you wish to acquire —in this case, Digibyte. The merchant delivers the coins to your suitable wallet once you send payment in the form of either fiat money or another cryptocurrency.
Trading Digibyte entails predicting the altcoin’s price and profiting based on the correctness of the said prediction. Contracts of difference (CFD), marginal trading, and spread betting are some of the long- and short-term trading alternatives offered by brokers.
Buying Digibyte
If you want to buy Digibyte on the internet, you should use a reputable cryptocurrency exchange that provides users with the greatest possible purchasing experience. Here are the specific ways to acquire these coins online:
1. Find a suitable exchange
Today, there is a plethora of exchanges that can help you safely purchase Digibyte. To prevent falling prey to fraudsters, it is important to do due diligence. Security, liquidity, and affordability are the three most important things to consider.
Look for a recognized and accredited exchange with a solid track record that properly complies with Know-Your-Customer (KYC) standards.
Here is a list of highly-rated exchanges for you to look up, where you can buy or sell DGB using fiat money or other cryptocurrencies:
- Changelly
- Coindirect
- CoinSpot
- Abra
- Bittrex
- Huobi
- Sequoir
- KuCoin
2. Register and fund your account
You should then go to the exchange’s website to register. When registering an account, make sure you submit your full name, email address, and any other essential identification information, as well as complete the KYC verification procedure. Depending on your chosen exchange, the length and conditions of the registration process will differ to some extent.
After that, choose the payment option to make a deposit. Usually, you can opt for credit/debit cards, bank transfers, mobile payments like Apple Pay, PayPal, and others. Each of them incurs various fees. Once you are done, deposit the funds.
3. Make a purchase
Calculate the cost to pay to acquire your desired quantity of Digibyte coins. On the buy widget, enter the appropriate amount and then confirm the purchase.
For security purposes, you should consider moving the coins from your exchange’s built-in wallet to an external wallet. Consider acquiring a cold wallet if you have a large number of the DGB coins or wish to keep them for a long time.
Trading Digibyte
Some people like trading Digibyte since it allows them to profit without really holding the currency. To put it another way, as a trader, you won’t have to worry about the difficulty of purchasing and keeping cryptocurrency. Simply follow the instructions outlined below:
1. Find an online Digibyte broker
You should look for a reliable broker with low fees and a variety of payment and withdrawal options. The broker’s site should also provide plenty of options for users to learn how to trade Digibyte and make the most money. It should, above all else, ensure your safety.
After you’ve found a broker you like, complete your registration and go through the Know-Your-Customer process.
2. Deposit funds
You should then deposit the funds you’ll need to begin trading using the cheapest financing option available with your broker.
3. Choose a trading strategy
It will be beneficial for you to take into account CFDs, margins, spread betting, and other options.
For example, if you are willing to enter into a short-term contract that pays out the difference in the settlement price between the open and close trades after assessing the price volatility of Digibyte, you should consider CDFs.
Alternatively, if you think you can make more money by betting on Digibyte’s price movement, you should opt for spread-betting.
Takeaways
Digibyte can be acquired through a variety of reputable brokers and exchanges. We understand how difficult it may be to choose credible sources that provide competitive pricing for the coin on the market. As a result, we’ve included a handful of the great exchanges for you to consider above.
