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So You Want to Get Into Crypto? Here's How to Start as a Beginner

How to Learn Crypto as a Beginner

By Tony FilicettiPublished 4 months ago 3 min read
So You Want to Get Into Crypto? Here's How to Start as a Beginner
Photo by Kanchanara on Unsplash

So You Want to Get Into Crypto? Here's How to Start as a Beginner

Cryptocurrencies are becoming increasingly more popular as an asset class to invest in, and the prospect of making money on the rise of these currencies has drawn in millions of new investors over the past several years. The reality, however, is that investing in cryptos can be complicated and confusing, particularly if you’re not sure how to get started. This guide will help you overcome your fears and get up to speed with all things crypto, so you can decide whether investing in cryptocurrencies is right for you or not.

Do Your Research

The first step is to do your research. There are plenty of reputable websites, forums and blogs that will help you understand the basics of cryptocurrency. One such resource is Investopedia’s Cryptocurrency Guide. Read it, bookmark it and come back when you have more questions!

Next, you'll need a wallet. Wallets are digital storage devices for cryptocurrencies and can be stored on a computer, phone or external hard drive. It is important to note that wallets only store information about your coins, not the coins themselves. Some popular examples of wallets include Blockchain Wallet (for Bitcoin), Jaxx (multiple currencies) and MyEtherWallet (for Ethereum). Different wallets provide different levels of security so make sure you read reviews before making a selection.

Choose a Wallet

If you're new to crypto, there are many different types of wallets that can help you store and send your coins. Choosing which one is right for you will depend on the type of cryptocurrency you're looking to use and how much money you have invested in it. For example, if you want to trade Bitcoin or Litecoin with other people around the world, then you'll need an exchange wallet like Coinbase. However, if all you want to do is buy some Bitcoin and HODL (hold onto) it without trading it on exchanges or with other people, then a software wallet like Electrum may be more suitable for your needs.

Buy Bitcoin

Buying Bitcoin is the easiest way for beginners to get started in crypto. There are many exchanges where you can buy Bitcoin, but Coinbase is one of the most popular because it has low fees and is easy-to-use. For buying Bitcoin on Coinbase, you'll need to create an account and link your bank account or credit card. Once that's done, use those credentials to log into the site and purchase some cryptocurrency! I would recommend starting with 0.1 Bitcoins ($100 USD). And be sure to set up two-factor authentication on your account - Coinbase makes this super easy by providing a QR code you can scan from their app.

Get Involved in the Community

One of the best ways to start your journey into crypto is by getting involved in the community. There are many forums and channels where people discuss all aspects of crypto, share ideas, and help each other. Getting involved will also allow you to ask questions and learn more about what is happening in the market with live updates. It can be daunting at first but don't worry, most of the time when someone asks for help it's just because they need clarification on something rather than needing an answer from someone else. It takes time to get used to things but remember that there are always plenty of people happy to chat and offer advice!

Use Caution

Crypto currency can be an overwhelming investment for the beginner. There are so many different coins and methods of investing in crypto out there, it can be hard to know where to start. I would recommend that you start with Coinbase, which is one of the most popular ways of buying and selling Bitcoin, Ethereum, and Litecoin. Once you have set up your account with them, then I would recommend setting up a portfolio on an exchange like Binance. You may also want to consider purchasing some Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC) using Coinbase; these three cryptocurrencies are some of the largest in terms of market cap, meaning they will probably be around for years to come. Once purchased, transfer your new currency from Coinbase into your wallet at Binance or any other exchange you want to use; this will give you a more varied cryptocurrency portfolio from which you can trade over time.


About the Creator

Tony Filicetti

Hi my name is Anthony and i'm here to produce compelling stories for you as readers. I'am also an online marketer who can drive traffic to your stories and get more views which equals more money. Go here to https://bit.ly/leadstomystories

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