So you want to dive into the crypto craze? Getting into the crazy moolah asset business? Well, here’s your chance to invest. Strap your pocket money in, get ready to spend on some coins, do the HODL before selling it after it gets boosted by whales. Crypto doesn’t wait for anybody.
Yeah, but what is Cryptocurrency?
Looks like you’re 9 years late for that one. Here’s the gist of it. Cryptocurrencies are digital assets. That can be stored and recorded about each transaction a person makes of them. Of which the process is known as Blockchain. So no matter where you have it, it has a record of how much volume, how many places it’s been to, and other cryptography data. Using peer-to-peer data collecting. This method is considered far more secured than middle-man banking systems.
As for why they are worth it? Well, besides it being decentralized. It has a lot to do with the fact of how many people involved are willingly investing, the size of their community, the demand, scarcity, and other intricate technological values.
How Do I Get Started?
It’s really easy. Depending on what kind of crypto you’re buying, you need a particular wallet for it. A ledger wallet which is either physically built or digitally stored. I preferred if you kept a physical one, will be easier to access since you’ll never know when you’ll lose those cryptos from the servers.
Let’s say you’re buying 15 USD worth of Bitcoin, ok, so you make the purchase but there needs to be a deposit. You need a deposit address. You get those from just wallets or exchange sites with their own embedded wallets. Let’s say, for starters, you opened a Coinbase account, you either bought it from them or just want to deposit it there. Simple, look for Bitcoin deposit in the portfolio, then add the address from Coinbase to the withdrawal site. There, just wait for a few minutes till the transaction process is done. Remember, you need to use Bitcoin’s specific address. Not other coins or you’ll your assets entirely.
Just between you and me, ah, don’t use Coinbase for too long. They have large fees and often kind of ruins the experience because of some hindrance to more free flowing crypto enthusiasts. The other best option would be Binance. And another thing, don’t buy Bitcoin for 15 USD. That’s a bit of a misnomer for this article, but trust me, for that amount, get other coins like Litecoin, Dogecoin, TRON, etc. Any other altcoins. Plenty that are more affordable with less fees to worry about.
Finally, just play the waiting game. Wait till the coins you’ve purchased go up in value, might take a week, a month, a quarter, year or two. Maybe you should wait half a lifetime for your investment to go up. I mean Bitcoin started from less than a dollar and look where it is now. Join for the short term or long, you pick your gambles.
Read more about So-Called Elon Musk Crypto Scams Are Out Of Control