How to Buy New Cryptocurrencies? 

What is cryptocurrency and why do people buy new ones?

When conducting cryptocurrency research, it is critical to start from the fundamentals (in this case, the very definition). There are countless ways to define cryptocurrency, but they all have one thing in common. This term refers to a digital payment system that doesn’t rely on intermediaries like banks to verify transactions. Instead, it is a peer-to-peer system that can enable anyone anywhere to send and receive payments with the help of cryptography.

By removing third parties and intermediaries from computer networks, the core of cryptocurrencies that is blockchain technology provides several advantages. For instance, distributed ledgers can facilitate new economic activities that were not previously possible. 

Another reason for the continuously growing appeal of crypto is that numerous enthusiasts see this technology as a reliable, long-term store of value. There are countless examples of well known individuals who buy Bitcoin with a credit card for this purpose. 

How to find new cryptocurrencies

There are several potential advantages for those looking to buy new cryptocurrencies or projects before they are listed on popular platforms. For instance, you can acquire tokens at discounted prices, stay up to date with the latest market developments, and support innovative projects with an opportunity to perhaps become part of their success story.

When it comes to how to find new cryptocurrencies, here are some methods:

• White papers/project websites
• Crypto forums
• Crypto news websites
• Social media platforms

White papers/project websites

A crucial step in understanding the potential and goals of a new crypto project is exploring official project websites and white papers. On the one hand, researching the former may help you evaluate the potential and viability of a project before deciding to acquire its coins/tokens. On the other hand, the latter contains in-depth information about a project’s roadmap, team, and technology.

This documentation may also provide insight into whether a project plans to support ways to earn crypto rewards, be it through crypto staking, or other methods. Again, such information may potentially speak to the project’s potential and overall seriousness.

Crypto forums

These forums can provide access to discussions and information about new crypto projects. They are often a gathering place for like-minded individuals to share insights and ask relevant questions. Additionally, many such forums typically have dedicated sections for initial coin offering (ICO) discussions and announcements, links to sites with live crypto prices, and more.

Crypto news websites

Another effective way to source information on new crypto projects is to keep an eye on reputable crypto news websites. These sites often have analyses and articles about significant developments in the crypto space, such as partnerships, upcoming ICOs, etc.

Social media platforms

More excellent sources for discovering new crypto projects are social media platforms like Reddit and X (formerly Twitter), and also Telegram groups. You can have access to early information about upcoming projects, complete with valuable insights, by following influential crypto enthusiasts and joining relevant communities. Additionally, you can also learn from experienced individuals and build connections by engaging with these communities.

Where to buy new cryptocurrencies

Now that you know how to find a new crypto project, the next step is to better understand where you might go to acquire the coins or tokens that have piqued your interest.

The most convenient and popular choices for acquiring new and existing cryptocurrencies are centralized exchanges (CEXs), decentralized exchanges (DEXs), and over-the-counter (OTC) transactions. 

Centralized cryptocurrency exchanges

When looking at centralized exchanges, the possibilities are virtually endless. Depending on your personal goals and unique risk appetites, you can choose from hundreds of different platforms. 

For example, in the case of CEX.IO, our platform is often referred to as an excellent resource for acquiring new cryptocurrencies due to its selection.

Decentralized exchanges

On the other hand, DEXs rival centralized exchanges in popularity, and their main characteristic is that they distribute responsibility for verifying and facilitating crypto trades. Much like the way cryptocurrency blockchains work, virtually anyone willing to join a DEX network can certify transactions. Such a model may help increase transparency and accountability, and also ensure an exchange can continue operating regardless of its creator. 

However, the downside of DEXs is that they are usually much less user friendly. This drawback relates not only to interface ease-of-use, but also to currency conversion. For instance, DEXs don’t always allow users to deposit fiat currencies (such as USD) and exchange them for crypto. Therefore, users must either already own crypto, or resort to a centralized exchange to get crypto, and then go back to the DEX to conduct a crypto-to-crypto exchange. 

Furthermore, when using DEXs, you’ll likely be engaged in direct peer-to-peer trades at some point. Such trades may take longer than on centralized exchanges, because you may face difficulties finding someone looking to buy what you’re selling. Not to mention having to accept concessions on price to buy or sell a low-volume crypto quickly if liquidity is low.

Where to buy new crypto tokens

As mentioned previously, there are several ways of obtaining new crypto tokens. However, countless crypto enthusiasts choose centralized exchanges over DEXs and other aforementioned acquisition methods due to CEXs overall security, ease of use, and intuitiveness.

For example — and as evidenced by the list above — CEX.IO is a comprehensive ecosystem of crypto products and services often recognized as offering an impressive selection of new and established tokens and coins. Stablecoins are also on the CEX.IO menu, and those looking to buy USDC or buy USDT can also enjoy such opportunities in the ecosystem. 

The platform has been welcoming crypto enthusiasts since 2013, and has served more than six million users to date. Thanks to such a longstanding reputation as one of the most reliable crypto ecosystems, CEX.IO’s community-centric approach sets it apart. 

Consequently, choosing CEX.IO for your crypto transactions is a surefire way to get the best of both worlds: acquiring new cryptocurrencies on a best-in-class, user-oriented platform (not to mention secure cryptocurrency storage!) 

For instance, the CEX.IO Wallet empowers users to effortlessly buy and sell crypto with a wide range of both fiat and crypto payment methods. Simultaneously, its award-winning Exchange Plus platform is home to more than 300 cryptocurrencies, including numerous fledgling projects. Thanks to deep liquidity, up to five sub-accounts, advanced order types, and more, CEX.IO makes accessing crypto intuitive and straightforward. 

All of the above makes this ecosystem the ultimate choice for accessibility to a broad spectrum of crypto transactions, and freely-available industry knowledge courtesy of CEX.IO University. 

How to buy new cryptocurrency at CEX.IO

Users can buy new cryptocurrency at CEX.IO through a variety of payment methods, including:

• Bank (wire) transfers
• Credit/debit cards
• E-wallets

In doing so, you can use the CEX.IO Instant Buy service, or the platform’s native online crypto Wallet product. Additionally, you can also link external cryptocurrency wallets to the platform to conduct transactions. 

How to buy new cryptocurrency with CEX.IO Instant Buy service

Follow these steps to buy new cryptocurrencies on the platform using the Instant Buy service:

• Hover your cursor over the Products tab on the homepage;
• Select Instant Buy from the For Everyone column in the drop-down menu;
• In the Buy cryptocurrency window, click on the drop-down arrow below the You receive field and select your preferred cryptocurrency;
• In the You pay field to the right, select your fiat currency of choice;
• Click on the Buy button to the right of the You pay field;
• You’ll be taken to the Add Funds window, where you’ll need to click the Select Payment Method button;
• Confirm the purchase by following the instructions provided on the screen.

How to buy new cryptocurrency via CEX.IO Wallet

The process of buying new cryptocurrencies using the CEX.IO Wallet is just as intuitive: 

• Log into your CEX.IO account;
• Hover your cursor over the Products tab on the homepage;
• Click on Wallet;
• You’ll arrive at the Wallet dashboard. Scroll down and select your preferred cryptocurrency from the list;
• Choose between Add Funds or Convert buttons;
   

If you choose Add Funds, the remaining steps are the same as for Instant Buy. If you choose Convert, simply select the currency to spend and click the Convert button. Please note that the Convert feature is only available for currencies that you have on CEX.IO balance. 

Users from select regions can also buy crypto with PayPal, and buy crypto with GooglePay on the platform. For more information on payment method regional availability, please read this article. 

Conclusion

Buying new and emerging cryptocurrencies can be an exciting, but also daunting experience. Depending on your unique risk appetite and sense of adventurism, you may opt to use a centralized or decentralized exchange to achieve your goal. 

Regardless, you have numerous choices at your disposal, one of which is the reputable and longstanding CEX.IO ecosystem. Explore how to buy and sell crypto on this platform today with the helping hand of your one-stop shop for all things cryptocurrency. May the markets trend in your favor! 

FAQ

What are over-the-counter (OTC) crypto transactions?

OTC trading desks facilitating trading between two parties without revealing information about the trade to the public. The OTC desk acts as a matchmaker that enables high-volume transactions between sellers and buyers. During such transactions, the two parties agree on a purchase price before being able to complete the transaction (which can be fiat-to-crypto or crypto-to-crypto).

How many new cryptocurrencies are there?

According to Statista.com, as of 2023, there were over 9,000 cryptocurrencies in existence. However, in the early months of 2022, there were many more digital coins available for purchase/trading. Some estimates place this number at roughly 20,000, but most of these coins/tokens are either discontinued or inactive. 

Why choose CEX.IO to buy new cryptocurrencies?

In addition to its longstanding reputation, CEX.IO’s award-winning Exchange Plus platform is home to 300+ markets available for buying, selling, trading, and converting. Moreover, as mentioned above, CEX.IO is widely regarded as one of the best platforms for crypto enthusiasts due to its wide and continuously growing selection of available crypto coins and tokens.