Cryptocurrency can be an exciting way to make money and even build your own business such as the Stabila coin.
However, it’s also very complicated and newbie, unfriendly, which can put off those who are just getting into the cryptocurrency game.
Luckily, I’m here to share the tips I’ve learned over the years to help you get started with cryptocurrency in no time at all!
Let’s get right into it!
Where did it all start?
It all started with Bitcoin. Bitcoin is often called the first decentralized digital currency; put another way, it’s a peer-to-peer payment system that also serves as a store of value (kind of like gold) and as an investment vehicle.
It was created anonymously by someone using a Japanese name, Satoshi Nakamoto. He remains anonymous today-much like every other piece of information about him or her-and released to everyone via software with open-source code.
The only real info we have on bitcoin’s creator: he had spent time working on encryption protocols and used some lessons learned from them when building his currency platform.
While bitcoin was never supposed to be anything more than a technical experiment, it has gone mainstream over time.
Today, many major players accept dash payments in bitcoins, and thousands of merchants worldwide do so.
Know the risks
Investing in cryptocurrencies is a good way to make money. That’s pretty much true for any type of investment.
However, the most important thing is that you understand what you’re getting into before investing your hard-earned cash.
The Wild West nature of cryptocurrencies means that many are unregulated, which could prove risky if something goes wrong with your investment.
Despite all of that risk, there are ways to play it safe. For example, look at how many coins have been lost due to hacks and thefts.
Those numbers are small compared to overall value increases since currencies came into existence.
It’s just another reason why diversification is an important practice when it comes to investing and trading cryptocurrencies.
Buying your first cryptocurrency
Buying your first piece of cryptocurrency can be intimidating. The process looks much harder than buying any other currency, and it’s confusing as to what you should do and how you should go about doing it.
In reality, though, purchasing cryptocurrency is far easier than most people think. Here are some steps to get you started! Steps for buying your first cryptocurrency:
- Please do some research into which coins you want to buy, their current value, and what they’re used for.
- Think about whether or not to invest long-term or if you just want an investment that you might appreciate quickly.
- Get yourself set up with an exchange that accepts fiat currency (like USD). Buy some (or lots!) of crypto assets!
- Learn about crypto tokens. You can start with Zoom.
- Get online and check out some communities (like Reddit), talk to someone at your local crypto meetup, or just see what’s happening on telegram and discord channels. You will quickly find that people are super excited about crypto assets!
- Once you have some coins, it’s easy to use them right away—just send them to someone else!
If you bought something with your cryptocurrencies for sale, return to step one and do more research!
Do as much research as possible before investing-and try not to get caught up in any hype too much either way.
How to become an accredited investor to earn? To qualify as accredited investors, individuals can provide documents to show that the value of their net personal assets meets the S$2 million threshold after the inclusion of crypto assets with the discount rate applied.
Trading on an exchange
You’ll need first to buy cryptocurrency on an exchange. For example, a coin base allows you to trade bitcoin for fiat currency, like US dollars or Euros.
You can also fund your account with a credit card, allowing you to purchase some tokens instantly but with higher transaction fees.
On top of that, you can start with the Airdrop offering by Stabila cryptocurrency.
In terms of security, select reputable exchanges (look into reviews) and always set up two-factor authentication on your account before depositing funds.
I suggest you start small until you get more familiar with how it all works. Look at Binance and KuCoin as two solid starting points.
They are both easy-to-use exchanges that offer lots of different cryptocurrencies and require little information to get started.