For many of us, the world of Cryptocurrency is in a whole other galaxy to our own. There are so many factors and numbers and jargon that we simply don’t have time to sit down and really learn, especially with our busy and exhausting lives. So many of us just ignore it. However, a lot of people seem to be starting to take a growing interest in bitcoin and not just people in finance or tech but regular, everyday folk like you and me.
It seems that cryptocurrencies are having their moment in 2021. Many of you are familiar with the success (and sometimes failure) of coins such as Bitcoin and the kind of return on their investment you can make. As the saying goes, set and forget; after a while, people find themselves with a handy growth on their initial investment or even a sizable difference that can help in our everyday lives, allowing us to be able to afford more of the things we want and need and live more comfortably.
So you’re thinking about taking the leap?
Well before you do there are some things that are worth thinking about first. With the fluctuating nature of the market and potential risk, having some preliminary knowledge will help you maximize and get the most out of your investment. Here is a handy guide to help take care of everything you need to know when starting with crypto.
To buy a cryptocurrency you first need to pick a crypto exchange. Don’t be intimidated, as it is fairly simple. Exchanges are platforms where you can trade cryptocurrencies. They usually have relatively low fees; this is great for beginners. You may find some with complicated and confusing interfaces, however, Bitcoin exchange websites such as Swftyx make the process user friendly.
You may also think about going for a Crypto broker, which varies slightly from a crypto exchange. However, due to the ease of interface, we recommend going for an exchange.
Once you’ve decided on the broker or exchange for you, it is time to sign up and create your account. You may have to verify your identity, depending on the platform you choose. Do not be alarmed though, as this helps prevent fraud and keeps you and the platform safer as a whole.
The next step is the scary part: depositing the cash to invest. You’ll need to invest some funds into your account to get the ball rolling by either wire transfer or linking it to your bank account.
Once you’ve put the money in, you’re all set to make the purchase and place your first cryptocurrency order! As previously mentioned, due to the fluctuating nature of the market it is important to do your research into the best cryptocurrencies to invest in at the time of purchase. It is also important to be aware of differences between the coin,s such as decentralized peer-to-peer coins or open source. Either way, be sure to take it at your own pace and be careful.