How to trade crypto on the stock exchange?

Are you one of many Norwegians who have opened their eyes to cryptocurrency? Then you might be wondering how to go about acquiring the digital currency.

In this guide, we explain you how to trade crypto on the stock exchange – or rather, crypto exchange – step by step!

Select crypto exchange

If you want to trade crypto, the first thing you should do is find a crypto exchange. There are a number of options online. Keep in mind, however, that not all crypto exchanges are equally favorable.

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A crypto exchange is simply a website that allows you to invest in cryptocurrencies. You can usually trade, sell, exchange and store the currency you buy there.

It can be an advantage to trade crypto on a stock exchange that is registered with Finanstilsynet . Only exchanges with such registration can offer the purchase and sale of crypto where you are covered by certain guarantees. Let’s look at some of the most popular crypto exchanges!

eToro

[eafl id=”2945″ name=”Etoro” text=”eToro”] is another popular trading platform, and is a popular choice for Norwegians who want to trade crypto on the stock exchange. At eToro, you can choose from several exciting markets, whether you want to invest in cryptocurrency, commodities, stocks or traditional currency.

eToro is also registered with Finanstilsynet, and can therefore offer its services on the Norwegian market. Getting started is easy, and you can download an eToro app for an extra user-friendly experience.

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Binance

Binance is one of the largest exchanges in the world, which has customers from every conceivable country, and where you can get low prices on transactions. Unique to Bonance is that you can trade with NFT, participate in Pool Mining and much more. This exchange has countless instruments you can use, and is a popular choice for those who want to start trading, but are suitable for everyone.

Firi

Firi is one of the most popular places for those who want to trade crypto in Great Britain , even though the stock exchange is relatively expensive. The site was previously called MiraiEx, but has now undergone a brand change and been renamed. However, the services offered are at least as good as before.

At Firi, which is of course registered with Finanstilsynet, you can buy cryptocurrencies such as Litecoin, Bitcoin, XRP, Ethereum, DAI and Cardano. Here you can easily invest in crypto on the stock exchange, and you get an overview of price changes at any time.

NBX

Norwegian Block Exchange (NBX) is a Norwegian platform for you who want to trade crypto on the stock exchange. At NBX you can trade Ethereum, ADA, CGT, Bitcoin and other crypto, among other things.

NBX, like eToro and Firi, is registered with the Norwegian Financial Supervisory Authority. Feel free to check out this platform if you want a Norwegian alternative.

2. Register with the crypto exchange

Once you have found a cryptocurrency exchange that is right for you, it is time to create a user profile. This is a simple and fast process, and you only need to provide basic data about yourself – such as email, desired password and username.

You will usually also receive an email asking you to verify your user account. All in all, the process takes a few minutes. When the user account is up, you are almost done.

Deposit money to trade crypto for

After you have created a user account, you have to deposit money to be able to buy cryptocurrency. At sites like Firi, NBX and eToro, you can deposit money with common payment solutions such as Visa, PayPal, bank transfer or credit card.

Some of the sites have a lower deposit amount of maybe 400 kroner. Deposit an amount that matches the risk you are willing to take. Remember that investing in cryptocurrency always involves a certain risk of losing money. But of course you can profit from it, too.

4. Which crypto should I buy?

When trading crypto on the stock exchange you will find a number of options. For many, Bitcoin or BTC is synonymous with crypto, but there are also many other good options.

At the crypto exchanges you can usually find Ethereum, ADA, Bitcoin, XRP, DASH, Litecoin, Bitcoin Cash, MIOTA, EOS, XLM, TRX, NEO and the like. eToro is among the platforms that can point to the best selection. Check out the stock exchange’s markets to get an overview.

Which crypto one should choose depends on several factors. Are you looking for a fast and anonymous means of payment, or should you trade crypto as an investment? Most people trade crypto for the latter, and then you may want to check the rates before you decide.

Remember that it can be beneficial to trade crypto cheaply, and then sell the currency more expensive when it rises in value.

5. Confirm crypto trading

Once you have found a cryptocurrency you want to invest in, you usually just need to click on “buy” or similar. You can then state how much you want to buy. The cryptocurrency you trade will be stored in a kind of digital wallet at the crypto exchange.

You can exchange crypto for another cryptocurrency later, if you wish. For example, many people choose to transfer cryptocurrency to a stack coin if they assume that the value will fall a lot. A stablecoin is a cryptocurrency with a more stable value.

Confirm your purchase by following the steps listed on the crypto exchange. You can now use your cryptocurrencies as you wish, whether as an investment or a means of payment.

Why trade crypto?

Many people choose to trade crypto because the digital currency can be an exciting investment object. There are stories of Norwegians who have profited well from investing in Bitcoin and other crypto.

As long as you are aware of the risk you are taking, such an investment can be both exciting and beneficial.

Others choose to trade crypto because they want to be able to transfer money lightning fast, safely and easily – even across national borders. You get a high degree of anonymity with crypto, compared to traditional currency. It also means better privacy.

Find a crypto exchange where you can trade crypto safely and easily!

FAQ

[sc_fs_multi_faq headline-0=”h2″ question-0=”Hva er krypto?” answer-0=”Krypto eller kryptovaluta er en digital valuta som er desentralisert, noe som betyr at valutaen ikke «styres» av banker eller myndigheter. ” image-0=”” headline-1=”h2″ question-1=”Hvilken børs for krypto er best?” answer-1=”Hvis du skal registrere deg hos en børs for å handle krypto, kan eToro, Firi eller andre Finanstilsyn-registrerte løsninger være det beste og tryggeste valget.” image-1=”” headline-2=”h2″ question-2=”Er det lovlig å handle krypto?” answer-2=”Ja, det er fullt lovlig å handle krypto hos en børs som er registrert hos Finanstilsynet. Det betyr at du for eksempel kan kjøpe kryptovaluta hos eToro eller NBX lovlig.” image-2=”” count=”3″ html=”true” css_class=””]