How to Buy ICON in the USA
A Beginner’s Guide to Buying and Selling ICON Cryptocurrency in the USA
If you’re based in the USA and wish to buy ICON – the process is very straight. All you need to do is find a regulated exchange, deposit some funds, and decide how many ICON tokens you want to buy.
While the ICON crypto may be one of the most recent cryptocurrencies in the market, it has grown in popularity to become highly valuable and very competitive. One of the superior features of ICON is that it can be transferred from one person to the next without using an intermediary.
If you want to start buying ICON in the USA, follow this detailed guide that will systematically take you through all the steps involved. However, before you proceed any further, you first need to know that the major feature of cryptocurrencies is volatility. Because of the price fluctuations, cryptocurrencies can be very risky to invest in.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY ICON IN THE USA
- A step-by-step guide to buying ICON in the USA
- Store your ICON in a wallet
- How to sell ICON
- Things to consider when buying ICON in the USA
QUICK GUIDE: HOW TO BUY ICON IN THE USA
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select ICON
- Enter how many ICON coins you want to buy.
- Check the details and confirm your purchase.
A step-by-step guide to buying ICON in the USA
If you want to start buying ICON, follow the steps detailed below:
Step 1: Register with an exchange
The first step you need to take is to open an account on the crypto exchange. You need to ensure the exchange account you open is the one that accepts both ICON and USD.
There are many exchanges in the US, so you need to be careful in selecting to settle on the one that best suits your needs. Exchanges charge different broker fees, so you need to go with the one whose fees are suitable to your needs.
It is also advisable to select an exchange that can support multiple cryptocurrencies because this will help you diversify your portfolio.
When opening your account, you only need a few personal details such as the name, phone number, and email address. You will also be required to verify the details you have provided according to the KYC rules of the exchange.
Step 2: Fund your exchange account
You will need money that you can buy ICON with. There are several ways to deposit the USD into the exchange, including credit cards, debit cards, PayPal, direct bank deposits, and more.
Most exchanges support USD, but if you do not want to use this option, you can exchange other popular tokens. For example, you can choose Bitcoin, Ethereum, and other popular cryptocurrencies that you can later exchange with ICON tokens.
Crypto exchanges charge different types of fees depending on the exchange that you select. You can choose the exchange that charges the most comfortable fees depending on your preferences.
Step 3: Buy ICON
After funding your account, the next step is to buy ICON tokens. To do this, go to the sell section on the exchange, enter the amount of ICON tokens you need to buy, and confirm your transaction. After confirmation, a notification will be sent to your email telling you about your transaction details.
To buy ICON, you will have two options from which you can choose. The market order is the first option that will allow you to buy ICON at the current market prices. When you select a market order, your purchase will; be completed instantly.
The second option to use is the limit order. With this type of order, you will buy ICON when the prices hit a specific low price. This option does not allow your orders to be completed instantly but only when the prices go below a certain point. You can select between a market order and a limit order in the order section on the exchange account.
Store your ICON in a wallet
Having bought the ICON tokens, you need to find a place to store your ICON tokens. The best place to do that is in a crypto wallet. You need a crypto wallet that can support ICON. You can store your ICON tokens in the crypto exchange, but this is not a safe option because your funds will be vulnerable to attacks by hackers and threat actors.
However, some exchanges will give you access to a hot wallet, such as a mobile app that you can use to store your ICON tokens online. Hot wallets make it easier for you to retrieve ICON whenever you need to trade.
The other option you can select is the cold wallet. Cold wallets allow you to store your crypto tokens offline. This will keep the tokens away from any online interference. Whether you have a cold wallet or a hot wallet, it is advisable that you keep your private keys secure because once you lose the keys; you lose access to the wallet.
How to sell ICON
Selling ICON is as easy as buying it. All you need is to log into the crypto exchange platform and head to the sell section. You can then select the amount of ICON you want to sell. You can sell the tokens in exchange for the USD or sell them in exchange for other cryptocurrencies.
If you exchange ICON with other cryptocurrencies, you can later sell them in exchange for USD. Afterwards, you can withdraw your money from the exchange.
Things to consider when buying ICON in the USA
Some of the factors you need to consider when buying ICON in the USA include the following:
The token’s future
One of the things you need to consider when buying ICON tokens is its future. The crypto market is full of uncertainties, so it can be very hard for you to predict the future of a token. ICON is fairly new in the market and cannot be compared in similarity to BTC and ETH. A token’s future is solid if it has multiple uses, such as payments and other DeFi projects.
Fluctuations in price
You also need to assess how the token prices have been changing so you can assess the level of risk. The crypto market is highly unpredictable, and the only way you can survive in the market is by understanding this nature.
You also need to know how many ICON tokens are in circulation. The more available a token is, the easier it will be for you to trade it because of high liquidity.
ICON is one of the most popular cryptocurrencies in terms of being used for trading. Buying ICON tokens is very easy and fast. There are many exchanges in the USA that support ICON tokens, so it will be easy for you to settle for one that best suits your needs.
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Virtual currencies are highly volatile. Your capital is at risk.