How to buy cryptocurrencies on Young Platform
Are you fascinated by the world of Bitcoin and cryptocurrencies but have never managed to deepen it properly? Would you like to start buying and selling cryptocurrencies but don’t know how to “juggle” between the various exchanges available online? Then I really think you should check out Young Platform .
Young Platform is a secure exchange based in Italy that allows you to buy, sell and exchange cryptocurrencies using “traditional” currency, therefore also euros; all in a very simple way and without any deposit constraint. In support of it there are a series of products that allow you to gradually but effectively enter the crypto world: tips and guides for beginners, an app to earn cryptocurrencies simply by walking or answering quizzes and an exchange for more experienced traders that offers the ability to monitor and buy or sell both cryptocurrencies and DeFi tokens relying on many advanced tools.
How do you say? Does it seem like the kind of solution you were looking for? Then I suggest you take five minutes of free time and continue reading this guide: below, in fact, you will find explained how the Young Platform company was born, how it operates and which are its most interesting products. Then I will guide you step-by-step in installing the Young Platform app on your smartphone, I will explain how to open your account and how to start buying, selling and exchanging cryptocurrencies through the latter: you will be amazed at how simple it is!
Index
- The Young Platform company
- Young Platform products
- How Young Platform works
- Account opening
- Deposit
- Buying and selling cryptocurrencies
- Piggy bank
- Rewards and discounts
- For more information
The Young Platform company
When money is at stake, be it in “traditional” currency or in cryptocurrencies, it is good to turn to reliable companies , with a precise history behind them and with a sustainable business model . So here I am, ready to talk to you about the Young Platform company, its history (up to now) and the people who make up and manage it.
Well, Young Platform is a FinTech startup born in 2018 by a group of 6 young people, all computer scientists passionate about the crypto world from the Polytechnic of Turin . To date, the i3P of the Polytechnic of Turin is the headquarters of the group; the team that makes up the company, on the other hand, has grown and now includes many new professionals with different experiences and backgrounds: you can “get to know” them all by visiting this page .
Young Platform ‘s goal is to become a smart digital Bank natively focused on new digital services capable of guiding the user throughout his journey: from the discovery of the crypto world (with courses and informative articles on the subject) to the first cryptocurrency trades. , up to the support for traders and professionals provided through advanced platforms including indicators, APIs and many tools to monitor and manage their investments in the crypto world.
Since its inception, Young Platform has come a long way: now over 300,000 people use Young Platform products every day with the company confirming its stability through a capital increase of 3.5 million euros , which took place thanks to the intervention of United Ventures (the main Italian venture capital). Also worth mentioning is the fact that Forbes Italia has selected the founders of Young Platform among the best 100 Italian entrepreneurs under 30 of 2021. In short, even if the path will certainly still be long, the growth of the group has certainly been remarkable in these early years. of life.
If you want to know more and want to stay up to date on Young Platform news, you can join their Telegram community , where all the news relating to Young Platform products and events (digital and in presence) concerning the company are posted. You can also chat with the team.
Young Platform products
Now that you know who is behind Young Platform and what are the goals already achieved by the company, it seems only right to analyze all the various products that the latter offers: you can find them listed below.
Young Platform
Young Platform is the ideal solution to start buying and selling cryptocurrencies thanks to a simple and intuitive exchange that can be used comfortably from a smartphone app or a browser on a PC . It allows you to quickly view the status of the markets and to buy / sell / trade cryptocurrencies in a very simple way, with the possibility of making deposits as and when you want . Deposits can be made from a current account, Apple Pay , card, Gift Card or even in cash (through affiliated stores). There is also a promo to get a 5 euro bonus for each friend made to register (with a deposit of at least 50 euros by both).
From Young Platform it is also possible to read the main news from the world of cryptocurrencies and learn more about the functioning of the latter, thanks to Young Platform Academy : a free service that offers many in-depth articles and real lessons dedicated to the world of Bitcoin , cryptocurrencies and personal finance .
Young Platform supports a wide range of virtual currencies, fiat currencies and markets , including the famous Bitcoin , Ethereum , Polkadot , Cardano and Dogecoin , but also YNG : the Young Platform token that can be used to obtain discounts on commissions within the ecosystem of Young Platform products.
As regards the costs to be incurred, in the purchase and sale of virtual currencies and / or legal tender currencies (fiat), a Spread is applied , which varies according to the market, between 0.22% and 0.875%, to the which must be added a series of commissions based on the scheme below.
- Fiat market – Crypto – 2.5%
- Crypto Market – Crypto – 1.35%
- Fiat market – YNG – 0.00%
Note that commissions can be lowered by up to 50% thanks to the YNG token , which can be purchased on the Young Platform or earned for free through the Young Platform Step app.
For more information on this you can visit the official website of Young Platform , while to learn more about the practical operation of the exchange, I invite you to read the dedicated chapter of this guide .
Young Platform Pro
For more experienced traders. Allows you to monitor, buy and sell the most popular cryptocurrencies and the most innovative DeFi tokens; all without trading fees . To reset commissions on sales, you need to buy 14,000 YNG (the Young Platform token, which can be used to get discounts on commissions within the Young product ecosystem), or invite 20 friends to open an account. Read more here .
Young Platform Pro also offers an advanced search system that allows you to analyze over 50 pairs and save your favorites and includes 100 indicators to recognize market patterns and make projections to plan your movements effectively.
The intuitive dashboard then allows you to view the status of your orders in real time and manage them with numerous advanced options. You can get a “taste” of the exchange by connecting to this page and open your account from the site or from the Young Platform app for Android and iOS / iPadOS .
Young Platform Step
It was the first Young Platform app, and still today it represents an excellent starting tool for those who want to approach the world of cryptocurrencies in a fun and dynamic way.
With Young Platform Step it is possible to earn YNG (the Young Platform tokens I told you about before) and thus create your own wallet simply by walking , answering quizzes and completing the personal challenges proposed by the application. By submitting your YNGs on the Young Platform Exchange you will then have access to discounts on commissions for the purchase and sale of other cryptocurrencies. But not only.
Young Platform Step also contains a lot of useful information on the world of cryptocurrencies, with a practical and extensive glossary , information pills on the major cryptocurrencies and in-depth articles useful for approaching the crypto world. The app is available for both Android and iPhone . Read more here .
Young Platform Academy
As I mentioned before, in Young Platform Academy you can find free courses for beginners (and not only) that unravel the mysteries of the crypto universe, with a focus on blockchain, Bitcoin, Ethereum, cryptoeconomics and personal finance more generally (with a actual investor handbook ).
If you still don’t know what Bitcoins are or if you can make money with mining , here is where you can find all the answers.
How Young Platform works
At this point, I’d say it’s time to take a closer look at how Young Platform works and how to use it to start buying and selling cryptocurrencies.
If before starting you want a bit clearer ideas about tax compliance , I invite you to download the free eBook proposed by Young Platform in which you will find everything explained. In any case, I already anticipate that, in order to trigger the declaration obligation, you need to have a lot of cryptocurrencies in your wallet for more than 7 working days.
Furthermore, one of the advantages of Young Platform consists precisely in operating only with Italian banks. The RW part must not be completed if the cryptocurrencies are held on Italian exchanges, as it is a “credit” towards a resident, which cannot therefore be qualified as a “foreign asset”. This information is taken from the eBook “Tax aspects: Cryptocurrencies and Bitcoin” edited by Dr. Giorgio D’Amico mentioned above.
As for the security of the Young Platform system , you can rest assured: Young Platform relies on one of the best infrastructures available, that of Modulus , which has clients such as NASDAQ and JP For the custody of cryptocurrencies they rely on Fireblocks, one of the main custody provider in the world, used by players such as Coinbase Pro, Binance US and Gemini. Having clarified these aspects too, let’s take action.
Account opening
The first step you need to take is to download the Young Platform app , which is available both on the Android Play Store and on the iPhone and iPad App Store . Therefore, visit one of the links I have just provided directly from your device (or search for Young Platform in the store) press the Install / Get button and, if requested by the device, log in using the face / fingerprint recognition or your account password.
Once installation is complete, start the Young Platform app and press the Register button to start opening your account; then fill out the form that is proposed to you indicating your name , surname and, if you have one, your invitation code to obtain any prizes (which are credited following the first 50 euros of payment).
Once this is done, click on the Continue button , enter your phone number , go ahead and fill in the fields relating to your email address and password , with relative confirmation (please, set a password that is secure and difficult to guess). Then check the box to confirm that you are 18 years old and accept the Terms and Conditions and tap the Confirm button .
Now you need to log into your e-mail box and confirm the opening of your account by clicking on the link sent to you by Young Platform. In the web page that opens, choose therefore that you want to use Young Platform .
You can now log into the Young Platform app with the data you just chose for your account. Once logged in, you will be asked to set a PIN to protect access to the application: enter it twice and you’re done.
Before depositing and starting to sell / buy cryptocurrencies you must verify your identity : the procedure is very simple and takes little time. Press, therefore, on the Verify button on the main screen of the app and complete the various steps that are proposed to you.
Make then tap the field Address of residence , specify your address in the next screen and, if your address of domicile is the same, check the appropriate box; otherwise fill in the form relating to the latter as well. Therefore, go to the Personal data section and enter the required data (nationality, date and city of birth, tax code, etc.) in the appropriate fields and confirm .
The next step is to verify your document . To verify the document you must indicate the purpose of use you intend to make of Young Platform ( sale / purchase and payments , investment or both ), choose which type of document to use to verify your identity (identity card , driving license or passport ) and enter the relevant data. Then confirm and take two photos of the document: one of the front and one of the back , making sure that all data is legible.
The operation is completed, snapped a selfie by clicking the icon (look in front of you and make sure that your eyes are clearly visible; if you wear glasses, you have to take them off).
Very good. Now you just have to wait for the notification regarding the activation of your account, which will take place following the verification of the documentation you have sent, by the staff of Young Platform. It usually takes a few minutes. In case of problems, of course, you will be informed which operations to carry out to correctly resolve and verify your identity.
If at the moment you do not have your smartphone at hand or for any other reason you prefer to act as a computer, you can register with Young Platform also from a PC, by connecting to the official website of the service and filling in the proposed forms: the operations to be performed are similar to those illustrated above. indeed for the app.
Deposit
Once your identity has been verified, it’s time to make your first deposit and start trading on the Young Platform exchange.
You can deposit by wire transfer (only from an account held or co-owned by the same account holder on Young Platform); using credit, debit and prepaid cards issued in Italy and which adopt the Mastercard or Visa circuit; or in cash with Young Cash , that is, directly at the cashier of the authorized Pam, Penny Market, Panorama and Carrefour stores, or by purchasing a Voucher at tobacconists, bars and participating shops.
It is also important to respect the minimum and maximum amounts envisaged for each deposit method: the transfer provides for a minimum of 20 and a maximum of 4,000 euros; the deposit by card a minimum of 20 and a maximum of 250 euros, while the cash deposit can be 30-250 euros ( more information here ). By increasing the level of verification of the identity of your account (through the User menu of the app) it is possible to expand the limits provided for the various deposit methods ( more information here ).
That said, to make a deposit to your account, click on the button with the two arrows you see in the app’s bottom menu (or at the top, if you prefer to operate from the Young Platform website ) and select the Deposit item from the menu you opens. On the next screen, indicate the currency in which to make the deposit (eg Euro ), the deposit method you prefer and follow the instructions on the screen.
For example, if you have chosen the bank transfer from an Italian current account you will be given the coordinates to carry out the operation, while for the deposit by card you will be invited to enter the card details. It’s all very simple, I assure you. Once the deposit is credited to your account (the times, also in this case, vary according to the deposit method chosen), you will receive a specific notification.
Buying and selling cryptocurrencies
On the Young Platform Home screen you will find your balance , some useful tips on the actions you can perform (e.g. redeem the welcome bonus or earn with word of mouth), the performance of your favorite assets (you can choose them by going to the Young Market section Platform, distinguished by the graph icon , and by pressing on the relative star icon ), the ranking of the top gainers (i.e. the assets that have recorded the best results) and the latest articles from the Young Platform Academy .
Through the app or website menu you can then access your portfolio (with recent assets and transactions), the aforementioned Market section with the trend of assets, favorite ones and top gainers and, finally, the Dicover section , containing the latest articles and the latest news related to the world of crypto and personal finance.
To take action and buy or sell cryptocurrencies , press the two arrows icon in the Young Platform menu and choose the action to perform. In the case of the purchase of prizes, therefore, on the item Buy , select the currency to buy (eg Bitcoin ) and indicate the amount in euros that you want to commit: the amount in the chosen cryptocurrency will be shown automatically.
For certain cryptocurrencies you can also decide to set up a recurring purchase : in this case, press on the Buy item once present under the amount you have decided to spend, choose whether to repeat the shopping on a weekly basis , every two weeks or monthly and the game is done. Then, press the Continue button , confirm (for example by swiping upwards if you act from the app) and that’s it.
If you change your mind, you can change or cancel a recurring purchase by going to Wallet> Piggy Bank , selecting the Piggy Bank on which you have set up the recurring purchase (eg Bitcoin or Ethereum ), ticking the active recurring purchase and selecting the Suspend option . Read more here .
For the sale of cryptocurrencies the procedure is just as simple: press on the icon of the two arrows in the Young Platform menu, select the Sell item , indicate the currency to sell, type the amount (you will see below your balance and the corresponding value in euro) and confirm .
If you want, you can also convert one cryptocurrency into another : just select the appropriate item from the Young Platform menu, indicate the starting and destination currencies , then the value to convert and confirm .
Finally, I point out that from the same menu you can also withdraw , therefore send funds in euros or crypto always following the convenient instructions you see on the screen. The withdrawal of the euro is possible only via bank transfer to a current account or co-registered to the same person to whom it is made out to Young Platform account. To withdraw cryptocurrencies from an external wallet, you need the address of the external wallet and any memo, always provided by the app or site of the external wallet. Read more here .
Piggy bank
Young Platform also allows you to create a separate Piggy Bank from the main wallet in which to keep an amount of cryptocurrencies that you don’t want to use for sale or conversion. You can use the Piggy Bank either by transferring your existing funds or by setting up a Recurring Purchase .
To create a Piggy Bank , access the Wallet section of the Young Platform app or website, click on the Piggy Bank tab and select the option relating to the creation of the Piggy Bank and then choose the cryptocurrency you prefer from those available (eg Bitcoin or Ethereum ) .
Then select whether to transfer cryptocurrencies directly from your Wallet or by setting up a Recurring Purchase . In the first case, specify the amount to transfer, confirm and that’s it. In the second, however, select the amount to pay , the frequency of purchase of the selected cryptocurrency (weekly, twice a week or monthly), the payment method to use and follow the on-screen instructions to confirm.
Later you can also create new Piggy Banks and delete existing ones (in this case, the total balance in the Piggy Bank will be transferred back to the Main Wallet). Read more here .
Rewards and discounts
As mentioned in the previous chapters, Young Platform allows both to earn by word of mouth and to save on commissions by purchasing YNG tokens .
In the first case, just press the Earn by word of mouth button and invite your friends to open an account using your invitation code (indicated below): once you have made your first deposit of 50 euros , you will both receive a 5 euro prize .
To save on commissions, you must instead buy the Young Platform YNG token and keep it in your wallet: with 40 YNG there is a 5% discount; with 100 YNG there is a 10% discount; with 500 YNG there is a 20% discount; with 1,500 YNG there is a 30% discount; with 3,500 YNG there is a 40% discount, while with 5,000 YNG there is a 50% discount.
To view your current discount level, open the Young Platform personal area (the little man icon ) and go to Discount level . From the same screen you can also see the authentication level of the account (as explained above, the higher it is, the more the deposit limits will rise), view and modify the information on the personal profile , the payment cards , the currency to use. default, password , PIN , theme and more. Again, everything is extremely intuitive.
For more information
For more information and to receive assistance, you can visit the support page of the Young Platform website , where you can find informative articles on all the company’s products and, if you are connected to your account, you can open a ticket to receive direct support.
I also point out the social channels to enter the Young community on Facebook , Instagram , Twitter , LinkedIn , Telegram and YouTube , plus the official Young Platform blog where very interesting articles on features and products offered are frequently published.
Finally, I remind you that you can download the free Young Platform eBook with all the details related to the fiscal management of cryptocurrencies.