How to Buy Cryptocurrency (Safely) Using Your iPhone: 5 Important Tips

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    Oct 25, 2022, 11:08 am382 pts

    crypto trading

    Since the Bitcoin boom in 2017, cryptocurrencies have become the go-to digital currency for investments, payments, and trade, with Bitcoin at the forefront.

    You must have heard stories about how people are investing in cryptocurrency and getting good returns. Alongside their popularity, this currency has also increased in value over the years.

    Learning how to buy or sell cryptocurrencies on your iPhone, like Bitcoin, can be a hassle if you're new to this.

    If you're using an iPhone and want to start your journey into the crypto space safely, here are five essential tips to note.

    Your Privacy And Security Are Important

    As much as you can get great returns from investing in crypto, you can also lose your tokens due to theft, device failure, loss of access keys, and more.

    As a new investor, there are different ways you can keep your investments secure and out of reach of hackers who devise new ways to rob people of their money.

    Learn and research about different exchanges before investing your money into crypto. These platforms let you buy or sell on them, and there are many to choose from, so you have options.

    Before investing, ensure you go through reviews, research them, and talk to those that have been in the crypto space for a while and have gathered experience.

    Use a Reputable Cryptocurrency Trading App Like Sofi

    Due to market volatility, it might be difficult to predict when to buy Bitcoin. It is best to have a solid plan in place and keep your ears peeled for important information.

    You can install trading apps like SoFi and start trading cryptocurrencies. Download the mobile app via your app store and sign up to create an account.

    After giving out your basic information, you will need to decide if you want a joint account or a personal account, most people go for the personal account although this can be changed later.

    Next, you'll be required to input your address and phone number as a security measure after which a verification code will be sent to confirm that you own the said number. After this, you can fund your account and get started trading.

    Keep Your Software Up To Date

    Crypto apps on your iPhone require updates from time to time and keeping your app up to date with the latest software is always a good idea.

    Updated software with the latest security features will increase the safety of your bitcoin as if your wallet is running on older versions, it becomes easy prey for hackers.

    Better security features are present in the most recent version of your software, so it's a good idea to check the App store for updates regularly.

    Use a Strong Password

    A strong password can be the only thing fending off hackers from your crypto assets. You need to ensure not to use the same password for several accounts, primarily because of the high risk associated with the crypto market.

    A good strategy will be to use strong passwords for each of your accounts with the assumption that they can be breached at any time.

    Also, it's best to employ two-factor authentication and password rotation for additional security.

    Know Your Risk Tolerance

    As explained earlier, Bitcoin is a high-risk investment that requires walking on eggshells to pull off. Carefully review your risk tolerance before you invest your money in it.

    You can start small. One of the ways to do this is to begin with $10, this way if it doesn't work out it's not much of a risk and if it works out, over time, you'll have a good investment.

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