Bitcoin remains the most popular and valuable cryptocurrency. Users are primarily attracted by its high volatility and propensity for significant price increases following substantial price drops. These conditions allow BTC holders to earn money even over relatively short time periods. For example, on January 6, 2023, the price of one Bitcoin was $16,676.70. On January 9, the price rose to $17,267.70 per coin. Even buying and selling just 1 BTC could have earned $591 over 3 days. Therefore, Bitcoin continues to be popular. However, the situation with how to buy, sell, and store coins has changed.
How are things on cryptocurrency exchanges?
Previously, users often held Bitcoin on exchange accounts. They could buy and sell coins immediately whenever needed, exchange them for any other assets, withdraw to external cryptocurrency wallets, and perform various other operations. Today the situation has changed somewhat. The amount of bitcoin held on exchange accounts has reached a 4-year low. What accounts for this state of affairs?
All cryptocurrency exchanges fall into two categories: centralized and decentralized. Trust in centralized exchanges has significantly decreased after the unexpected and rapid collapse of one of the most popular previously - FTX. It shut down so quickly that users did not even have time to withdraw their assets, undermining trust in centralized exchanges. Such platforms are created and controlled by a specific group, which is their biggest drawback.
As for decentralized exchanges (DEX), matters are not much better. Although such projects are supported by users themselves and controlled by no one, they also have disadvantages such as low liquidity, a complex interface, and a limited set of available functions, as well as risks of hacker attacks. Neither centralized nor decentralized exchanges can be called ideal for storing digital assets due to high risks. Perhaps this is why digital asset holders are starting to look for more secure and convenient solutions.
How People Buy Bitcoin Today and Where They Prefer to Store It
Cryptocurrency exchange functionality has been made unnecessary for users by Cryptonica's cryptocurrency ATMs installed around the world. From our crypto ATMs you can quickly and easily acquire the needed amount of Bitcoin because our machine's software was created and carefully designed by experienced specialists. Our software is considered one of the best currently. The number of active users of our cryptocurrency ATMs has reached high levels and continues to rapidly increase. People are increasingly buying BTC through Cryptonica's crypto ATMs because:
● Using crypto ATMs is as easy as using regular ATMs.
● Acquiring digital coins takes about 60 seconds, faster than buying cryptocurrency through an exchange.
● Cryptonica has large reserves of digital assets and continues increasing them, ensuring access to the needed amount of BTC.
● We maintain a consistently high level of security in our network. Our specialists regularly conduct security system updates.
● Bitcoin can be bought even with cash, making digital assets accessible to the maximum number of interested people.
● After acquiring the digital assets, the user immediately sends them to the desired wallet, eliminating any risks.
A Safe Way to Store BTC
When buying Bitcoin through Cryptonica's crypto ATMs, users can immediately send them to DeFi wallets. This software solution allows a person to trade digital assets while fully owning all their coins. This storage and use of cryptocurrency variant is considered one of the safest today. The main advantages of DeFi wallets include:
● Only the wallet owner has access to the funds.
● Compatibility with the Ethereum (ETH) blockchain and DeFi applications.
● A high level of security.
Therefore, users are actively transferring their crypto assets to DeFi wallets, choosing the most suitable solutions for storage. At Cryptonica we are proud to offer secure and convenient ways to buy and store cryptocurrency that meet the modern requirements and needs of our clients.
