Say Goodbye To Signature Bank: It’s Officially ShutDown!
Are you feeling that signature bank withdraw withdrawal? Yes, folks, this once thriving financial institution has finally been shuttered by regulators after its tie-in with SVB’s collapse. This has come as a major blow to crypto enthusiasts who used the bank as a bridge to enter into the market with traditional finance solutions.
But don’t panic yet: there are still plenty of options out there to get involved with the crypto scene! In this light-hearted article, we’ll explore three methods to join the party.
Crypto Exchanges
One of the easiest and most popular ways to start trading crypto is to sign-up for an exchange. This will let you convert fiat to digital currency in an instant and make trades without worrying about 3rd-party intermediaries or restrictions. Best of all, many exchanges provide additional services such as margin trading, futures, and staking, so you can really get your hands dirty in the nitty gritty of the DeFi universe.
Crypto Wallets
You don’t necessarily have to involve an exchange to get your feet wet in crypto. You can also look into getting a wallet that supports major cryptocurrencies such as Bitcoin, Ethereum and Ripple. Crypto wallets are a great way to store your cryptocurrency securely, and this removes the hassle of needing to exchange your funds each time you want to purchase something in the crypto economy.
Stablecoins
If you feel a bit more risk-averse, then another option you could explore is stablecoins. These are digital coins pegged to fiat currencies, gold, or other assets and offer a great way to participate in the DeFi space without needing to worry about dramatic price fluctuations. These coins can range from USD-backed to commodities backed, so you should always do your research to make sure you’re making the right choice.
So, There You Go!
These three options represent a great place to start when looking to enter into the crypto economy without needing the help of 3rd-party intermediaries. With all of the financial uncertainty going on in the world right now, now could be the best time ever to take a chance and start dabbling with digital currencies. So, don’t wait any longer and get started today!
