How to Get Into Cryptocurrencies [Newbie Friendly Guide]

If you are wondering about diving into a new world of cryptocurrency for subsiding for the first time. In that case, it is our pleasure that you are at the right place where you can get enough information about trading using BitQS. Furthermore, cryptocurrency alternatives the mostly used by investors to deplete the risk or surge in the market. Crypto options derive their value using the price of some other assets. If you are to start investing with no information, you must have comprehensive information about the digital assets and the type of technologies involved.

 

Four Easy Steps for investing in Cryptocurrency

This guide will guide you through the essential information you need to know before investing in cryptocurrencies. The critical topic includes some easy steps for investing in cryptocurrencies and some of the best places for investing your assists; let’s initiate with the steps involved that are required for subsidizing:

  • Open an account for a cryptocurrency exchange

The first thing is to set up an account using a crypto exchange; skip this step if you have already created an account. When creating an account, you must provide basic information like identification, address, birth date, email address, and others.

  • Fund your account

In this step, you must connect your bank account with the desired crypto brokerage that offers multiple altcoins options. Most of the organized market accepts debit card and wire transfer options. Wire transfers are the best option because they are approachable on Coinbase and Gemini and save money.

  • Select Cryptocurrency Trading place to start Investing 

Thirdly, you are required to pick the best trading place. These can be bitcoin or Ether. Many cryptocurrency investors invest a specific part of their assets because if you invest all of your altcoins, you are at significant risk as these assets can be hacked and lost.

  • Start trading

You may go for some automatic crypto trading applications like Coinrule when looking for some crypto trading strategy. With the help of such automatic software, you can make more money and coins and change your resume, which can result in a way that may seem neutral, aggressive, or conservative. You can even explore more trading options on such sites while automatically trading elsewhere.

  • Store your cryptocurrency

Lastly, if you are very active in trading BTC, you must keep your assets on exchanges to access them easily. For instance, if you have purchased bitcoin wallets to hold your assets for the short or long-term, you need to make sure which wallets you will be going after, whether it is software or hardware wallets. Although both are safe, hardware wallets are much better for protecting your assets as they store all your data on a device that does not use the internet.

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Where to Invest in Cryptocurrency

Another essential thing to consider when investing in cryptocurrencies is the type of exchanges. There are 100+ exchanges and brokers on the internet, but which is the best for you to invest? In this section, we are going to look at some of the popular exchanges to invest in cryptocurrencies, which are not only safe but also reliable:

  • Binance 

It is the largest organized market in the world of cryptocurrencies; globally, there are 600+ digital currencies hosted on the website of Finance; however, the US version of Binance supports more than 80 markets.

It is straightforward to be a part of this exchange. You just need to open verified accounts and make deposits. You can start trading at a commission rate of 0.1 percent per slide. Moreover, no transaction fees are charged when you make your funding using a domestic wire bank or Finance account. On the other hand, depositing with the help of a debit or credit card will be more expensive, charging at a rate of 4.5 percent.

  • Coinbase 

The second popular website relates to Coinbase, which offers some bare-bone services, which is a beneficial offer for new investors. It is a heavily regulated, organized market. This exchange’s most positive side is that it keeps s98 percent of client funds in cold storage along with two-factor authentication. However, Coinbase has some high fees. For instance, when you initiate your investment, you will be required to pay a Standard commission fee of 1.49%.