How To Buy Digibyte In The UK

A Beginner’s Guide to Buying Digibyte Cryptocurrency in the UK

5 Min Read
Last Updated July 23rd 2021

If you’re based in the UK and wish to buy Digibyte  – the process is very straight. All you need to do is find a regulated exchange, deposit some funds, and decide how many Digibyte tokens you want to buy.

Digibyte may not have the popularity of Ethereum or the aura of Dogecoin, but this cryptocurrency is one of the oldest projects. It was launched as far back as 2014 but remained less popular among crypto exchanges and users. However, it is gradually seeing price increase, as the project developers are developing new systems. With a very low price, many investors see this as the best time to invest in the crypto asset, with the possibility of massive gains in the future.

If you’re looking to buy Digibyte in the UK, there are only a few places you can do that. Some exchanges offer crypto coins on their exchange. 

What's in this guide?

  1. QUICK GUIDE: HOW TO BUY DIGIBYTE IN THE UK
  2. A step-by-step guide to buying Digibyte in the UK
  3. Which wallets hold Digibyte?
  4. How to sell your Digibyte tokens
  5. How Digibyte works
  6. Things to consider when buying Digibyte in the UK
  7. Conclusion

QUICK GUIDE: HOW TO BUY DIGIBYTE IN THE UK

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select Digibyte
  5. Enter how many Digibyte DGB tokens you want to buy
  6. Check the details and confirm your purchase

A step-by-step guide to buying Digibyte in the UK

The following is a step-by-step guide to buying Digibyte in the UK.

Step 1: Open an online account with an exchange

Cryptocurrency exchanges exist to offer crypto services. They are there to assist users to get familiar with cryptocurrencies and trade in them. So, if you’re looking to buy Digibyte, you need to begin by opening an account with a crypto exchange. If you’re a newbie in the crypto world and don’t have any other crypto asset in a wallet, find a crypto exchange that allows fiat currency deposit. You need to make sure they allow such a deposit before registering with them.

For registration, you may be required to provide certain details, which include your email address, proof of ID, as well as your address. While the exchanges try to stay as private as possible, the requirements are to fulfill the Know Your Customer (KYC) requirements set by the law. In addition, you should enable two-factor authentication (2FA) on your account to provide further protection against threat actors. Once the details are provided, your account will be created.

Step 2: Deposit Funds

After registering with the right exchange, the next stage is to fund your account. Since you are funding with fiat currency (GBP), you will have different options such as depositing with your PayPal, credit card, debit card, or direct account transfer. Each of these options has respective fees charged for them, but credit card deposit is usually the most expensive option. So, you need to select the right type of deposit that is more convenient for you.

Step 3: Buy Digibyte

Here comes the part where you have to purchase the right amount of Digibyte tokens you want from the exchange. The process is straightforward. Log into your account and navigate to the market section where you will see different crypto pairings. Chose the currency pair you want to buy.

Since you’re buying the Digibyte with GBP, you should select the DGB/GBP currency pair. However, if the exchange doesn’t offer direct pair with fiat currency, you have to buy another cryptocurrency like Bitcoin or Ethereum before purchasing Digibyte with the token.

Once the transaction is filled and executed, an email notification will be sent to you.

Which wallets hold Digibyte?

After buying Digibyte, you may want to store it properly in a crypto wallet.. Although your crypto exchange may have a custody service for the DGB token, it’s safer to keep them in a crypto wallet. A lot of things can happen to your funds in an exchange, including theft, hacking incident, or the exchange may go bankrupt. But if you control your funds by yourself, you can provide more security, especially when you store the tokens offline.

So, if you’re looking to store your Digibyte crypto asset, get a hardware wallet that doesn’t expose your assets to online fraudsters.

How to sell your Digibyte tokens

You are probably considering selling your Digibyte token after it has surged in price. Well, selling it is also easy. You can sell the token on the exchange in the market section. Select the right crypto pair and enter the amount of Digibyte coins you are selling. 

For example, if you are buying Bitcoin (BTC) with Digibyte, you should be selecting the BTC/DGB pair. Enter the details for the transactions, including the transaction order type. Once it is executed, the equivalent amount of funds you exchanged will be sent to your exchange account. You can decide to trade with the fund or withdraw to a wallet or your bank account if it’s in fiat.

How Digibyte Works

Digibyte works as a payment method, as it makes use of a multi-layer blockchain system. This blockchain platform consists of the core global communications layer, a public ledger, and the applications layer.

These layers enable people to use Digibyte as an acceptable method of payment that still retains blockchain security features.

It utilizes five different mining algorithms, and users are allowed to select which of the algorithms they want to use. These algorithms include GroestI, Qubit, Skein, Scrypt, and SHA256.

As a result, the security of the network is at an optimal level, while it still engages users to mine the device on whichever device they have.

Things to consider when buying Digibyte in the UK

Before buying Digibyte, there are certain things you have to consider, which includes:

The time of entering the market

In the world of cryptocurrency investment, time can be as important as anything else. That’s because the time of entry into the market can decide whether you are going to make a profit or lose. Like other cryptocurrencies, the price of Digibyte has not been stable, as it keeps fluctuating from time to time. So, consider the time of buying Digibyte, as you are more likely going to make profits when you buy when the price is low than when the price is high.

Consider the project’s team

When a project has a solid team behind it, there is always an optimism of expansion and growth. This can also lead to an increase in the token’s price in the future. The Digibyte project is made up of a strong community presence, especially on social media. The project also has a strong team responsible for its growth and development.

Market risk

Another important thing to consider is the risk in the crypto market, which is very obvious due to the market’s volatility. Before you enter the market, you need to understand the level of risk when you invest in Digibyte. While there are opportunities to make massive gains, there are also the possibilities of losing heavily. So, you should know this before buying or investing in Digibyte.

Conclusion

The cryptocurrency market is still very attractive to investors looking to diversify their portfolio and make some profits from their investment. While Digibyte may not be as as popular as some other crypto assets, it has made a lot of profits for many investors. If you’re looking to invest in the token, the guide above provides all the details you need.

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