Investing in Crypto
During these past years, the number of people interested in Cryptocurrencies has seen an exponential growth. With the growth of users, there's the danger of misinformation and consequently the loss of capital or funds. Thus, we find important to guide the newcomers during their first step into their new investing career.
Wallets
Every currency has their own wallet, which works similar to a bank account, where you can receive and send funds. For each currency, you are holding you will have a different address (this means you CANNOT send Bitcoins to an Ethereum wallet, or you will lose all the money). Sing up and register to have your own direction.
Bitcoin Wallet
They usually look like this: 1KKjsCPxaCWY3XV1nwjatVg72xsV6XnQDN
BlockChain
One of the first wallets released, at the moment, it allows you to deposit 3 cryptocurrencies apart from Bitcoin.
https://www.blockchain.com/
BitCoin Core
Official wallet of Bitcoin has more support than others and offers more reliability. Usually is more difficult to manage and may require more time to know it's tools.
https://bitcoin.org/es/descargar
Other Crpytocurrencies
Generally, every currency has a wallet and at their website, they will guide you on how to download them or register on the page. For more info look into your coin's website.
Buying Bitcoins/Ethereum/Litecoin/BCash
The first step to jump into investing is to buy the currency you will use for pairing. Later on, you will see that most of the altcoins are paired with either Bitcoin (BTC) or Ethereum (ETH). During this step, exchanges will most likely ask you for an ID proof, Bank Adress and any kind of confirmation.
The most popular and reliable exchanges are:
Coinbase
Widely used, here you can buy the main four cryptocurrencies, it's the most used and valued exchange. They only support some countries ID/Passport verification so it may be troublesome for some Asian and South American natives.
https://www.coinbase.com/
Coinify
In this website, they do not require that much verification of the account but will only accept payments from bank accounts under your name and after the first purchase, they will termporarily freeze your account for 7 days to ensure that there is actually no problem with accepting payments from that credit card/bank account.
https://coinify.com/
Next post will be an introduction to the most popular cryptocurrencies exchanges and how to effectively move your funds.
Thank you for your time. If you have any question feel free to contact me:
LinkedIn: https://www.linkedin.com/in/andressanmar/
Telegram: @minedbitrades
Andrés Sánchez
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