How to get started with Crypto

Investing in a cryptocurrency market can be a bit daunting for a traditional investor, as investing directly in Crypto Currency (CC) requires the use of new tools and the adoption of some new concepts. So, if you really want to dip your fingers in this market, you will want to have a very good idea of ​​what to do and what to expect.

Buying and selling CCs requires you to choose an exchange that relates to the products you want to buy or sell, be it Bitcoin, Litecoin, or any of the more than 1,300 other game tokens. In previous publications, we have briefly described the products and services available on several exchanges to give you an idea of ​​the different offers. There are many exchanges to choose from, they all do their own thing. Look for things that might work for you, for example.

– Deposit policy of each method, methods և costs

– Cash withdrawal policy և costs

– What fiat currencies do they use to withdraw deposits?

– Goods they deal with, such as cryptocurrencies, gold, silver, etc.

– Transaction costs

– Where is this exchange based? (USA / United Kingdom / South Korea / Japan …)

Be prepared for the Exchange տեղադր installation procedure to be lengthy և as exchanges generally want to know a lot about you. It’s like opening a new bank account, because the Exchanges are expensive brokers, they want to make sure you are what you say you are, that you are a trusted person to deal with. It seems that “confidence” is gained over time, as stock exchanges usually allow you to start with only small amounts of investment.

Your Exchange will keep your CCs in storage for you. Many offer “cold storage”, which simply means that your coins are stored “offline” until you indicate that you want to do something with them. There is a lot of news about breaking Exchanges and stealing a lot of coins. Assume that your coins are in an Exchange bank account, but keep in mind that your coins are only digital, that all blockchain transactions are irreversible. Unlike your bank, these exchanges do not have deposit insurance, so be aware that hackers are always there, trying their best to get your Crypto coins and steal them. Exchanges usually offer password-protected accounts, և many offer 2-factor authentication schemes, something that should be taken seriously to protect your account from hackers.

As hackers like to hack Exchanges և into your account, we always recommend using a digital wallet for your coins. It is relatively easy to transfer coins into your հաշվի wallet Exchange Exchange account. Be sure to choose a wallet that will hold all the coins you want to buy and sell. Your wallet is also the device you use to “spend” your coins with merchants who accept CCs for payment. There are two types of wallets: “hot” and “cold”. Hot wallets are very easy to use, but they let your coins go with the internet, but only on your computer, not on an Exchange server. Cold wallets use online storage media such as specialized hardware memory sticks and plain prints. Using a cold wallet makes transactions more difficult, but they are the safest.

Your wallet contains a “private” key that allows all the transactions you want to start. You have a “public” key that is shared online so that all users can identify your account when they are involved in a transaction with you. Once hackers get your personal key, they can move your coins wherever they want – it is irreversible.

Despite all the challenges և wild instability, we are confident that the underlying blockchain technology is changing the game և will revolutionize how transactions are conducted in the future.