Get In On The Ground Floor: A Beginner’s Guide To Cryptocurrency

The thrust that cryptocurrency has brought into the financial sector is commendable.

There is a growing ship towards a decentralized economy and cryptocurrencies are becoming popular day by day.

With the newer cryptocurrency being introduced in the market and regulations from the government, investing in cryptocurrency is a great way to earn more profits.

One such new Cryptocurrency is China’s Digital Yuan, which is projected to be the biggest anti-corruption tool.

Easy Steps To Get Involved In The Crypto World.

The following section of this blog takes you through some of the easy steps to follow to become a part of the crypto world.

Read on to know more in detail to have an overall better understanding!

Step 1: Create an account

First, you will need to register yourself on a crypto exchange platform. You also need to have a digital wallet before you begin your investment.

These digital wallets are the storehouse of your crypto assets and all the transactions are executed through the same.

In future, if you wish to buy and sell crypto currencies, your crypto wallets will be of great help.

Hence you must also register yourself on a reliable crypto wallet along with choosing the right crypto exchange platform. The latter is a podium that provides easy access to explore cryptocurrencies and trade in the best ones.

Get In On The Ground Floor: A Beginner's Guide To Cryptocurrency

Step 2: Find a Bitcoin exchange platform

This is an extension of our last point which is about cryptocurrency exchange.

Several crypto exchanges will offer you lucrative discounts and deals for initial joining. However, there are clauses that one needs to know before becoming a part of these exchanges.

Once you have got a wish of how the crypto market operates and you have registered yourself on a crypto wallet, you can begin the search for crypto exchange.

Search them on the following parameters:

  1. The time the crypto exchange has been operational
  2. Number of users of the crypto exchange
  3. Transaction fee and withdrawal fee charged by the crypto exchange
  4. How many crypto tokens are available on the platform
  5. Does it offer good customer support service
  6. The dashboard of the crypto exchange

Once you find a crypto exchange that is trustworthy and suitable, you can register yourself and start trading. However, before doing so you must also check whether the crypto exchange has all the payment options or not.

The registration process is very simple. All you need to do is enter your basic information which can be used for completing the KYC.

Step 3: Buy Bitcoin

After the registration and verification are done from a crypto exchange, you are said to buy bitcoin.

To get started, you need to add funds with the use of your credit or debit card.

Now the crypto exchanges are also offering the facility of adding funds using your e-wallet or PayPal. However, when you are using a credit card or PayPal account to buy bitcoins, you may be charged certain fees which may vary from one platform to another.

Hence you must also assess this parameter before registering yourself and buying bitcoin.

Step 4: Store your Bitcoin

Once you have created a digital wallet you can start storing your cryptocurrencies in it.

Step 5: Start trading

After you have added bitcoin and you have started using your digital wallet, you are all set to start investing in cryptocurrencies.

Crypto exchanges also offer you the facility of recommendation wherein you will get information on how you can strategise your investment decision and which was the right cryptocurrency for your portfolio based on your risk appetite and investment requirement.

These are a few of the pointers that you must take into consideration when looking for investment in cryptocurrencies.

Since the crypto market is evolving and newer cryptocurrencies are entering the market, knowing the right mode of investment and the right platform for investment is important.

Defining the right trading strategy is also significant here. While there are many individuals who up off for intraday trading there are others who are here for long-term investment. 

Most investors recommend getting that if an individual wish to gain more profits, they must enter the crypto market with a long-term investment vision.

Irrespective of your call, your decision should be backed by a complete assessment of the crypto market and you should be investing once you have complete confidence in it.

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