Summary: Snapchat does not provide cryptocurrency trading on its platform. Therefore, to buy digital assets, such as Bitcoin (BTC) and Ethereum (ETH), we suggest investors sign up with a regulated crypto-friendly multi-asset investing platform such as eToro.
Intermediate Traders and Investors
Can you buy crypto with Snapchat?
Unfortunately, you can’t buy, sell, or trade crypto on Snapchat. However, there are many other investing platforms where you can buy digital assets with various payment methods, including bank transfers, credit cards, and online payment systems like PayPal.
How to buy crypto with Snapchat?
As of now, Snapchat does not offer a built-in feature to buy or sell cryptocurrencies. However, to invest in cryptocurrencies, you can sign up with a regulated broker like eToro, which is an FCA-licensed and widely trusted multi-asset investing platform with over 70 cryptocurrencies and unique features such as “Copy Trading” (enables users to imitate top-performing crypto traders), a staking service, custom watchlist, as well as advanced charts and technical analysis tools.
How to buy crypto with Snapchat: Step-by-Step
You can get started in minutes with four simple steps:
Step 1: Create an account on eToro and complete your verification (personal or company);
Step 2: Enter the GBP/EUR/USD amount you want to deposit on the eToro platform;
Step 3: Deposit your selected fiat currency;
Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.
Snapchat (NYSE: SNAP), developed by Snap Inc., is a multimedia instant messaging app and service founded in 2011 by Evan Spiegel, Bobby Murphy, and Reggie Brown. A key characteristic of Snapchat is that photos and messages are typically only viewable for a short period before they become unavailable to the receiver.
As of Q4 2022, the photo and video-sharing app had amassed 375 million daily active users globally, placing it among the world’s most widely used social networks.
Snapchat’s crypto policy
Snapchat does not have cryptocurrency trading services, which means you cannot buy, sell or trade any crypto assets with Snapchat.
Intermediate Traders and Investors
How to buy crypto safely
So, here’s the thing about cryptocurrencies – they can be an absolute goldmine, with returns that would make even the most seasoned investor drool. Unfortunately, however, they’re not for the faint of heart. In fact, cryptocurrencies are about as volatile as they come, making them a much riskier investment than your run-of-the-mill stocks or bonds.
And that’s not all. If you’re thinking of dipping your toe into the crypto market, you should know it’s a bit of a wild west out there. With all the scams, frauds, and scandals that seem to pop up on a near-daily basis, it’s clear that this is not a space to be taken lightly. So while the potential rewards may be huge, you’d be wise to approach the crypto world with caution.
Fortunately, there are steps you can take to ensure you’re being careful when buying crypto. Let’s look at a few tips on what you should do when getting started with digital assets and how to best protect yourself and your money:
- Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks are;
- Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
- Choose a reputable exchange: Ensure the exchange is licensed by the appropriate regulators in your country and has a solid track record. Study the exchange’s user terms and agreements carefully to learn more about where your money is kept and what happens to your funds if the business goes bankrupt. You may also want to scour through user reviews to catch any red flags;
- Secure your account: Use two-factor authentication and a strong password to protect your account;
- Use a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
- Don’t invest money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
- Monitor your investments: Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy crypto with Snapchat:
Does Snapchat have crypto?
Snapchat does not offer cryptocurrency services on its platform.
Can you buy crypto on Snapchat?
No, Snapchat users cannot buy crypto Snapchat. Investors that are looking to buy cryptocurrencies can sign up with a regulated crypto-friendly multi-investing platform, such as eToro.