Thanks to coronavirus lockdowns, the U.S. economy is contracting faster than at any time since the Great Depression of the 1930s.

Trying to soften the blow, the Federal Reserve has just printed another more than $2 trillion. This is the fastest rate of new money creation in history.

But all that free money can't keep thousands of oil workers from losing their jobs as oil prices crash and burn.

It cannot restore lost production at locked down meat-packing and food-processing plants. 

Nor can it restore output from countless factories idled because supply chain disruptions prevent deliveries of critical raw materials.

In other words, just as the supply of money in circulation shoots up almost at the speed of light, the supply of goods available for purchase is starting to drastically shrink.

More and more dollars chasing fewer and fewer goods is the textbook definition of inflation. And as inflation comes roaring back, it's going to send safe-haven demand for top-rated cryptocurrencies blasting up.

Happily, Buying Crypto Is Now Easier Than Ever

Not long ago, you typically needed one kind of crypto account to buy Bitcoin (BTC, Tech/Adoption Grade “A”). And then another kind of account to exchange some of your Bitcoin for other top-rated coins. 

This made trading cryptocurrencies more cumbersome than opening an online brokerage account to trade stocks. But no more.

Now you can do practically everything through just one account. Coinbase, for example (a leading U.S.-based crypto exchange) provides essentially one-stop shopping for aspiring crypto investors and traders. 

With just one easy-to-use account, you can not only buy and sell Bitcoin, but also Ethereum (ETH, T/A Grade “A”), Tezos (XTZ, T/A Grade “B-”), EOS (EOS, T/A Grade “C”) and 21 other crypto assets. Link it to your bank account to pay for your crypto purchases. Or just pay by charge card!

Overall, Coinbase has excellent liquidity and robust trading volumes — which means you should generally get better fills on your buy and sell orders.

It's quite secure due to its 2-factor authentication (2FA) process. Similar to Google’s two-step verification, this process double checks your identity by sending a PIN to your cellphone after you’ve logged on using your password.

One Final Important Point

Apart from trading accounts that we ourselves may have, neither we nor Weiss Crypto Alert has any business relationship with Coinbase (or any related entities).

We have never accepted — and will never — accept any compensation from any crypto service provider for customer referrals. Or to influence our analysis in any way whatsoever.

Whether you choose Coinbase or some other service provider, opening your first crypto account is going to be the first step into a grand adventure. Good luck. 

And remember to keep up with the current top-rated cryptos in Weiss Cryptocurrency Ratings. So you always know the best coins to invest in.

 

Weiss Ratings does not accept any form of compensation from creators, issuers or sponsors of cryptocurrencies. Nor are the Weiss Cryptocurrency Ratings intended to endorse or promote an investment in any specific cryptocurrency. Cryptocurrencies carry a high degree of risk. The SEC, CFTC and other regulators have expressed concerns with the volatility of the market and the actions of sponsors of specific cryptocurrencies. Be sure to review their official consumer alerts such as the public statement on cryptocurrencies by the SEC.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300. A shall green candle on a weekly chart is a promising signal, though the market is still gripped with uncertainty at this stage. 

More Bitcoin News

XRP/USD drops below $0.2000 after a failure at $0.2030

XRP/USD tested the intraday high at $0.2031, but the strong resistance located around this area discouraged the short-term bulls and pushed XRP/USD below $0.2000 by press time.

More Ripple News

ETH/USD breaks out into the $220 zone, will it be $230 or $210 next?

Ethereum price followed in the footsteps of the largest cryptocurrency by market capitalization, Bitcoin. BTC sprung upwards and for the first time in seven days, stepped above $9,600.

More Ethereum News

EOS/USD slumps below 4-hour SMA200, focus on $2.54

EOS/USD attempted a recovery above 4-hour SMA200 (currently at $2.65) and touched the intraday high at $2.67. However, the upside momentum proved unsustainable as the price of the digital asset dropped to $2.62

More EOS News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast

BTC

ETH

XRP