If you are to invest in crypto, do you need a good platform where you can store your money? I would say yes. A good platform or digital wallet is for the long term. If you are planning to invest in crypto for the next years, then your money deserves a good digital wallet.
In this blog, I will share with you how you can find the best platform to invest in crypto. I used these strategies personally and I’m happy with the result since I’ve been using my digital wallet since 2017. So, to find the best platform for you, here are some tips.
Designed for crypto
When looking for a platform to invest in crypto, look for one that is designed for crypto. Platforms like eToro that are usually for stocks may be used to invest in crypto. However, since eToro is just a broker, not a digital wallet for crypto, you won’t own Bitcoins when you open a by position. You will only be able to use your Bitcoin if you sell it again. But, if a platform is designed for investing in crypto, like Binance, you can own your Bitcoin and transfer it from wallet to wallet. To use it, you don’t need to convert it into USD or PHP. You can just use Bitcoin if you need it in its form. To have a Bitcoin Wallet click here.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.
Stock Smarts Zoom Technical Analysis
Stock Smarts: Live Traning Fundamental Analysis
Stock Smarts Book Series
In terms of navigation
When looking for a platform, you also need to look into the interface of the platform. If you are not that tech-savvy, you should find a digital wallet that is easy to navigate and has a user-friendly interface. Some platforms that have a good interface are Coins.ph and Coinbase. You may find other platforms but these two are the most popular in the Philippines. Although eToro is also a user-friendly platform as well, it’s only good for trading crypto. You might want to choose another platform to serve as your wallet so you can own the Bitcoin you bought. To have a Bitcoin Wallet click here.
Minimum investment
You also need to look for a platform with affordable minimum investment. If you are on a budget and you want to invest in crypto as early as now but you can’t take out a large amount of money in your savings, you should consider the minimum investment before you can create a digital wallet. For example, even if you don’t have a million, you can still sign up in Coins.ph as long as you verify your account.
Stable and reliable
If you are going to choose a platform, check on its history, stability, and reliability. Remember that the platform is also a broker. Do your own research if you want to protect your money. I suggest you invest through a platform that has been in the market for a long time. Choose a stable and reliable platform. Don’t fall into the trap of new crypto brokers that promise to give you 50-100% ROI after a couple of days. Make sure that when you choose a platform, you are holding your own account.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
