How & where to buy Digibyte (DGB) online
On this page, we discuss all things Digibyte. We explain if now is a good time to invest, what the pros and cons of the cryptocurrency project are, and what considerations you should make based on your own investment strategy. You will learn how to buy DGB easily and securely.
What are the best exchanges to buy Digibyte on?Copy link to section
If you are looking for the best places to buy Digibyte tokens online, look no further than the selection of trading platforms below. They all offer low fees and have stellar track records of reliability, so you know it is a service you can rely on. Click on one of the links, or read on to learn more about Digibyte.
How to buy Digibyte online – a step-by-step guideCopy link to section
Step 1. Find an exchangeCopy link to section
The easiest, fastest and safest way to purchase Digibyte is by signing up to a cryptocurrency broker, depositing funds, and purchasing coins outright. This is a simple process that we have broken down into stages, starting with finding a reliable exchange. To save you time and effort, we have listed two of the best exchanges below along with a brief description of what they have to offer:
- Binance: This is the world’s biggest crypto exchange. With low fee trading and a huge selection of assets, it is a strong choice for anyone interested in Digibyte. Open a Binance account now >
- KuCoin: KuCoin is a rapidly growing exchange. Thanks to its track record of reliability and general ease of use, it has cemented its popularity amongst crypto investors across the spectrum. Open a KuCoin account today >
Step 2. Sign up and fund your accountCopy link to section
Once you have chosen an exchange to use, the next step is registering an account and adding funds to it. This is simple and usually involves providing a few basic contact details and a copy of your photo ID. In addition, you will more than likely have to set a secure password.
After you’re all done creating your account, it’s time to fund it. Nowadays, most exchanges accept deposits in the form of fiat money via a bank transfer, though you can also use a cryptocurrency like Bitcoin. Simply purchase some BTC from a major exchange like Coinbase and transfer them into your wallet.
Step 3. PurchaseCopy link to section
Now, it is time to purchase your Digibyte tokens. Simply search for DGB via the interface of your chosen exchange. Then, find the pair that matches up with your account’s funds. For example, with GBP, look for DGB/GBP, and for Bitcoin, look for DGB/BTC.
Once you have found the appropriate pair, enter the number of Didibyte tokens you want, check you are happy with the price and incurred fees, and execute your transaction.
Step 4. (Optional) Get a suitable walletCopy link to section
If you want to trade Digibyte, skip to the next section since storing your coins in a wallet won’t be practical.
However, if you plan on holding DGB coins to speculate on their future value, a wallet can be a great way of keeping your investment safe. They come in physical and digital form, each with its own perks. To save you from searching for the best Digibyte wallet, we have listed two of our favourite options below along with a brief description of what they have to offer:
- Ledger Nano S: Store your DGB completely offline with Ledger Nano. It is a physical that looks like a USB stick, making it just as portable as it is secure. Get a Ledger Nano S now >
- CoolWallet: CoolWallet offers the secure physical storage that investors want with a unique element of convience: a connected app that lets you access your funds. Open a CoolWallet today >
How to trade Digibyte – a step-by-step guideCopy link to section
Step 1. Find a CFD brokerCopy link to section
If you’re going to trade DGB, this is most easily done via a broker. These are online services that allow you to open and close positions quickly, which is integral to capitalising on market volatility.
When you are on the lookout for a broker, it’s good to do some homework and check out what’s on offer. There are lots of reputable brokers out there, but they all offer different features and levels of support. Some are geared towards newbies and some are just for the pros. Here are two of our favourites for any kind of investor or trader:
- eToro: You can’t really go wrong with one of the world’s top brokers. With a wide variety of supported digital assets and a great reputation, eToro is a popular choice for many traders. Create an eToro account now >
- Capital.com: If you want to incorporate AI assistance into your trading strategies, Capital.com is the ideal platform for you. Open a Capital.com account today >
Step 2. Deposit moneyCopy link to section
After choosing a broker, the next thing you need to do is put down a deposit. This can be done via a bank transfer or with certain brokers, PayPal.
Once your deposit is down, you’re good to go, though we recommend you don’t jump in too quickly, especially if you’re new to the game. Most brokers will let you set up a demo account which will give you a good idea of how it all works.
Step 3. Learn how to perform technical analysisCopy link to section
At the core of any good trading strategy is the ability to conduct technical analysis. This is how experienced professionals read the market and plan their trades. Check out our short-term trading guide to learn the ropes.
Step 4. Start tradingCopy link to section
While we recommend starting out with a demo account before risking your capital, once you have mastered technical analysis, trading cryptocurrency is fairly simple. Regardless of whether you’re a complete novice or a seasoned pro, you’ll be watching the ebb and flow of the value of your chosen cryptocurrency and taking a position based on whether you predict a rise or fall. If you’re confident the price will go up, you’ll take a long position (buy) and if you think it will fall, you’ll take a short position (sell).
Depending on your broker and your experience as a trader, you can also add leveraged trading to your strategy. This enables you to put down a fraction of a trade’s worth (known as a ‘margin’), with the broker covering the rest. Be warned, though, this is not for inexperienced traders as it’s a high-risk move. Savvy traders often use stops to mitigate the risk and limit potential damage.
Should I invest in Digibyte?Copy link to section
That depends on a variety of factors. Most notably, are we in a cryptocurrency bull or bear market? In a bull market, the price of cryptocurrencies will broadly rise, meaning DGB could be a sound investment. By contrast, in a bear market, crypto prices will broadly fall, meaning Digibyte might not be as compelling an investment.
Digibyte has shown its ability to generate token holder value in the past, and while it is yet to fully live up to expectations, it remains a promising but risky crypto that is primed for speculative investment.
Finally, you should only invest in DGB if it is money you can afford to lose. The crypto market is highly volatile, and losses can quickly stack up in negative economic conditions, so unless you are fiscally and mentally prepared to lose your capital, don’t invest in the first place.
Still undecided?Copy link to section
ProsCopy link to section
- Digibyte has a lot of potential which has been exhibited with large price surges in the past
- Recent volatility has kept the traders interested
- Digibyte is faster and more secure than a lot of older coins
Before we reach the end of this guide, here are three more questions to help you decide whether to invest in Digitbyte.
1. Is now a good time to buy Digibyte?Copy link to section
If you plan on holding Digibyte for a long period of time to speculate on its value several years down the line, the coin’s speed and large community are both reasons to be optimistic about its future DGB price. While in the early days, some people within the crypto community thought Digibyte could become one of the top players, this now appears unlikely. However, even if it can no longer be the top dog, that doesn’t mean the project can’t generate substantial gains for investors.
For short-term traders, this macro is not as important. Instead, you need to hone in on technical analysis to work out if the current price of Digibyte is favourable for a purchase. By having a thorough understanding of trends and indicators, you can tell when it is the right time to pull the DGB trigger.
Check out the latest DGB analysis below to inform your potential investment and to see how the coin is performing at this moment:
2. What problem does Digibyte solve, and what are its investment prospects?Copy link to section
Digibyte is faster and more secure than a lot of cryptocurrencies. In fact, it is claimed to be 40X faster than Bitcoin by virtue of its drastically reduced block time. So, as a unit of exchange and a store of value, DGB does have a lot going for itself.
The coin has captured market attention in the past, but these instances have been flashes in the pan. We are yet to see DGB really flex its muscles, and some feel the opportunity may have passed by. However, any coin with a community of this scale and robust tech deserves meaningful consideration.
For more on the latest news and updates concerning Digibyte, check out the articles below:
DigiByte (DGB) price forecast after current appreciation
Digibyte (DGB) price spikes up as the new week starts
3. Do you want to hold Digibyte for the long term?Copy link to section
There are two ways you can go about investing in Digibyte: purchasing coins and storing them in a wallet, trading them for accelerated returs. Both of these strategies can prove highly effective, but they are fundamentally different. Here are some things to ponder on this topic.
Considerations for a long term investment strategy
If buying and holding DGB for the long term is your goal, find a reliable exchange and purchase the number of coins you want. Then, consider opening a wallet to keep your coins safe and secure.
Considerations for a short term trading strategy
For short-term traders, look for an established broker with low fees that can execute your regular trades inexpensively. You should also consider what kind of trader you want to be, from a swing trader to a day trader.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >