CRYPTO-CURRENCIES

WHAT IS BITCOIN

WHAT IS ETHEREUM

How to Invest in Cryptocurrency: A Beginner’s Guide

What are cryptocurrencies?

Cryptocurrency is a unique, virtual medium for exchanging money. It uses special cryptographical functions and blockchain technology to conduct online transactions.

Cryptocurrencies are totally decentralized. They’re not controlled by any one entity, and—in theory—they’re immune to government control. (However, the government has recently started working to regulate them and interfere.)

Individuals can also exchange cryptocurrencies online with very few (if any) processing fees. This advantage makes them much more appealing than traditional currencies and financial institutions for exchanges.

How to get started!

1 - Choose an exchange?

The first thing try and download a 2FA (2 factor authentication)(Authy or Google Authenticator) before signing up for anything. Some exchanges including Binance may have mandatory 2FA enable to sign up moreover your wallets may require them.

The next thing to do if you’re interested in buying cryptocurrencies is to choose an exchange. An exchange is where you can go to buy & exchange crypto currencies.

There are tons of different exchanges out there. Some of the most popular ones includes "Coinbase", "Binance" and another one I like is "SpectroCoin" When you use these exchanges, you can buy currencies with your Credit Card, Debit Card or Wire Transfer.

You can also buy fractions of coins when you’re buying popular currencies like Bitcoin, Ethereum, LiteCoin. This can be a good option if you’re working with a limited budget.

P.S. You can also buy Crypto Currencies from Coinmama! This option works with credit card wire and wire transfers. It is sent directly to your wallet.

2 - Choose your currencies!

Once you’ve found a place to buy your currencies, it’s time to start shopping. There are tons of different currencies for you to choose from, but the following are some of the most popular options: - Bitcoin, - Ethereum, - Ripple, - Litecoin.

3 - Get a cryptocurrency wallet!

After you’ve bought your currencies, you need somewhere to put them. This place is known as your wallet. There are two types of wallets you can use: a software wallet and a hardware wallet.

You’ll need a software wallet if you want to engage in any active trading. When you sign up for accounts with certain exchanges, you automatically have access to a software wallet.

Hardware wallets are similar to an external hard drives. You can use them to store your currency in a secure way. They’re best for currencies that you don’t plan on needing to access anytime soon.

My choices I would recommend are BINANCE for an exchange, used world wide except the USA maybe Coin-base would be a better option. The sign up process is easy enough for Binance but the verification process can be a bit tedious if you are a newbie but well worth it. For software wallets I would go with Trust wallet very well put together and recently bought by Binance but Mobile App only, also the MetaMask wallet can be used for the desktop mostly used with Ethereum and can be used in conjunction with the Trust Wallet. There is also the Tronlink Pro wallet mainly for use with tron and can be used both on desktop and mobile phone. For hardware wallet I would go with the Ledger, there are a couple to choose from.

4 - Diversify your crypto portfolio!

In the same way that it’s best to diversify your stock portfolio, you also ought to think about diversifying the type of coins and currencies that you buy. This approach will help shield you from the volatile nature of the cryptocurrency world and protect you from significant losses.

5 - Be wary of mobile wallets

You may have some people try to convince you to use a mobile wallet for your currencies. That’s not the best approach, though.

Mobile devices are easy to compromise, and your currencies will not be as secure as they would be in a hardware wallet.

Prepare for market ups and downs

Be sure to prepare yourself for the ups and downs of the cryptocurrency market too.

Don’t invest more in cryptocurrencies than you’re willing to lose and prepare yourself for the possibility that the value of your coins could tank.

Learn more about how to invest in cryptocurrency today

If you’ve been interested in investing in cryptocurrency but have held off out of fear or a lack of knowledge, now’s the time to turn things around and take action. With this information in mind, you’ll have an easier time knowing how to invest in cryptocurrency and the right way to invest so that your portfolio yields the highest returns.

Do you want to learn more about investing in cryptocurrency? Or do you want to get better educated on investing in general?

Either way, we’ve got tons of resources for you. Check out the latest investment articles to dive deeper. To stay up to date, you can also subscribe to Get Real, a daily newsletter with must-knows from the blockchain and across the markets.

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