In the vast realm of the financial market, an array of cryptocurrencies exists, each possessing distinct attributes and purposes. Some of the most popular examples are:
- Bitcoin (BTC). Recognized as the pioneering cryptocurrency, Bitcoin stands at the forefront. Functioning as a decentralized medium of exchange, it offers individuals the ability to conduct peer-to-peer transactions while also serving as a digital store of value.
- Ethereum (ETH) Ethereum presents itself as a decentralized platform that empowers the creation of smart contracts and decentralized applications, commonly referred to as DApps.
- Ripple (XRP) is functioning as both a digital payment protocol and a cryptocurrency, Ripple seeks to revolutionize international money transfers by enabling swift and cost-effective cross-border transactions.
And there are also less popular cryptos such as ICP. What is ICP crypto? ICP, also known as the Internet Computer Protocol, is a protocol created by the DFINITY Foundation. Its purpose is to establish a network that is both decentralized and secure, enabling the hosting of websites, services, and applications without relying on conventional web hosting infrastructure. By integrating blockchain technology and smart contracts, ICP offers a scalable and efficient platform for the development and deployment of decentralized applications (dApps).
All these and many more crypto coins and tokens are available on crypto exchanges, where people come to buy and trade them, making pairs from them converting one asset into another (for example, ETH USDT, XRP BTC, etc). Let’s take the ETH coin and WhiteBIT exchange as an example and see how to buy it.
Simple Spets on Buying ETH on WhiteBIT
Below is a step-by-step guide on how to buy Ethereum on the WhiteBIT exchange:
- Register an account – click the “Sign Up” or “Register” button. Enter the necessary details.
- Verify account. Log in to your WhiteBIT account using your registered email and password.
- Deposit funds. Select the “Wallets” or “Balances” tab.
- Access the trading section. Choose the ETH trading pair you wish to use. For instance, if you want to buy ETH using USDT (Tether), search for the ETH/USDT trading pair. The pair will show the Ethereum price in USDT.
- Place a purchase order.
- Click the “Buy” button to submit your order.
After placing the buy order, you can track its progress in the “Open Orders” or “Order History” section. If your order is successfully executed, the purchased ETH will appear in your WhiteBIT account’s ETH wallet.