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Writer : Rasheem James Northington
How to use and where to use cryptocurrencies?
In the past few years crypto space has grown massively and now it is a new investment class. Everyone is embracing this digital technology, Whether they are actors, billionaires, musicians or athletes and it has become the hottest topic of conversation over time. Many celebrities, these days are drawn to the allure of cryptocurrencies, and they are even posting paid advertisements for various exchanges and digital coins on their social media handlers.
As more and more billionaires and stars are joining the club, the general public has begun to recognize the enormous potential this digital technology holds. If you, like them, are considering entering the crypto market as an investor, then you have come to the right place because today I am going to discuss how one should step in this crypto cosmos.
So, first and foremost, let us understand how one can buy any cryptocurrency? Investing in it may appear complicated, but it's much simpler than you think. Buying any cryptocurrencies requires three basic steps and they are :selecting an exchange, obtaining a wallet and trading.
Steps to initiate cryptocurrency trading:
It's always necessary to conduct thorough research on the cryptocurrency you wish to buy and also about the exchange.
- You must select an exchange, keeping in mind whether it operates in your country, fees and so on.
- After doing your research once you select an exchange then sign up on it.
- The next step is to upload your ID card for the legitimacy and authenticity and once it is ensured you are required to add a payment option.
- After you have linked a payment method you can easily buy a coin. However, for security you need a wallet, which is a device that stores your private and public keys. As a result you can select from a range of wallets like hardware, software and paper wallets.
- Once you have your wallet, you can start buying and selling cryptocurrencies.
So, do you know why some people suffer from losses in general?
It is due to the lack of awareness and comprehension. The purpose of hosting these webinars on various aspects of cryptocurrency is to raise awareness among our users about how to use and trade it properly. And that's when we step in.
We share our opinion based on our understanding and experience about the subject and we strongly believe that cryptocurrency will be a future digital financial system due to its transparent activities, and unique technology that provides a secure financial transactions and audit trail. Currently, it is partially regulated, but it may become fully regulated over time. We are the Crypto Club and we started this initiative to clear the nebulous sight of individuals when it comes to Cryptocurrency.
What is the current status of the cryptocurrency in the general public and in the business community?
Cryptocurrency is gaining fame across the globe and everyone is looking up to it. Many people are already dealing in Cryptocurrency for a while now and many are just about to begin with it.
Since the market is volatile and this concept is relatively new, it becomes really necessary for one to take care of certain things before beginning with Cryptocurrency.
The first and foremost is to ensure that you have enough knowledge and that it is correct and authentic. There are innumerable sources on the internet and social media that have a lot of things to share with you about Cryptocurrency. But as sensible individuals, we must understand that not all of these sources might be reliable. You should know which ones are correct information givers. Even after gaining knowledge from a trustworthy source, it is recommended that you do your own research as well. If you wish to know in detail about specific Cryptocurrencies, go to their white paper. For their current values and market situation, go to their original websites. Make yourself aware.
Secondly, one must know that the market is very rapid and keeps changing. You should be quick enough to make decisions regarding when is the perfect time to buy or sell cryptocurrencies. However, while hasting, do not make yourself vulnerable to poor decisions. Trade wisely and yet, try to cope up with the pace of the market.
As Monazza said earlier, you need to choose an exchange from where you need to start. Get as much knowledge as you can about the Exchange. Go through the policies carefully. Confirm whether it is suitable for you or not. Exchanges also differ based on what country you live in. So choose accordingly.
Make sure that the Cryptocurrency you are investing in, actually exists and is safe and reliable. You need to keep trading in Cryptocurrency. You cannot risk being inactive for a period of time. You must also not stick to just one notion or strategies, but explore safe and reliable ways to deal in Cryptocurrency. These were a few basic things that you should keep in mind to make a smart investment.
