How To Get Started Investing In Cryptocurrency What exactly is Crypto? A simple answer to this question is that cryptocurrency is a way for two people to trade goods or services in the digital world while keeping their transactions safe with cryptography. To put it more simply, it's money used online. I'm not a computer genius, so I can't tell you everything about Crypto. But I can show you how to take the first steps and start investing in this new area. Crypto analysis So you've heard everyone talking about Bitcoin but don't know what it is. You do know that many people are making money with it, though, so you want to try it. If this is the first step toward investing in Crypto, you're off to a good start. Too many people invest without knowing what they are investing in. Since cryptocurrency is a new type of investment, this is a big problem for beginners. I won't go into much detail about cryptocurrency since it is a complicated technology. However, before investing, you should research and learn the basics. Listening to the different crypto audiobooks and hearing what they have to say is a great place to start. Many of them are experts in the field or will bring in experts to talk about it. Because innovation is so new, new changes happen very quickly, so it's important to stay up to date. Getting a Crypto Whitepaper Sometimes it's hard to choose a coin to invest in because there are so many of them, and each one says it's the next big thing. When looking for a coin to invest in, you should pay close attention to the development team, how the funds will be used, and the whitepaper. The whitepaper is a basic plan that shows what the developers want to do, when they want to do it, how their cryptocurrency works, and what makes it unique. If a cryptocurrency you're thinking about doesn't have a website with a whitepaper, that's the first sign that it's a scam. It would assist if you learned a few things from reading the whitepaper: ● Do you think the goal is possible? If the coin says it can cure cancer, stop global warming, and bring peace to the world, it's a scam. ● Would the coin have a blockchain of its own? If the coin doesn't have its blockchain, it's just a dream right now, and if you invest in it, you don't technically own anything. ● Is there a clear plan for the coin? A good whitepaper will list the company's goals and how they plan to achieve them. If you've read the white paper and like what the coin is trying to do and the people working on it, it's time to start investing. Finding the Best Crypto Exchange When you find a coin you want to invest in, you must find an exchange that lists it. You will most likely need to start by making a Coinbase account, which I think is one of the easiest ways to trade fiat currency for cryptocurrency. Once you've set up an account with Cryptocurrencies and an account with the return that lists your coin, you'll need to send the coins you need to buy the coin you desire to the second exchange. After you buy the coin, you'll need to set up a wallet. Wallets for Cryptocurrency When you buy cryptocurrency, you rarely want to leave it on the exchange, where it is most vulnerable. Exchanges are always connected to the internet, so they store their money on a public server that anyone can use anytime. This is why they are named hot wallets. This means that hackers could potentially hack the exchange and steal your Crypto. A paper wallet, which is just a printed copy of your digital wallet, a cold wallet, which is a wallet kept offline, or, most easily, a wallet made by the developer, is a better way to keep your cryptocurrency. If development company wallets are available, you will have easy access to your cryptocurrency without putting your coin's safety at risk. A hacker could only get to your coins if they first broke into your computer. If your coin has a developer wallet, you should be able to locate it and a link to download it on the coin's website. Crypto investing basics It would help if you used Blockfolio, an app that helps you keep track of your different crypto investments and gives you information about how your portfolio is doing. Make sure to check out CoinMarketCap, a website that will tell you the market cap of the entire cryptocurrency market, the market cap of each coin, and where it ranks in the market as a whole. Many crypto societies have a Telegram group chat. You can stay updated on the coin if you download the Telegram app and join these chats. Check it out