How to Get Started Investing in Cryptocurrency? — A Beginner’s Guide
Are you planning to invest in cryptocurrencies and looking for the best way to get started? Then, you are in the right place.
Cryptocurrencies are getting popular as a new and more profitable way of investing. Because of their volatile nature, crypto coins can enable you to make more profit in less time compared to traditional markets like stocks and bonds.
Before you start investing in cryptocurrencies, it’s important to have a basic idea of what a cryptocurrency is and how it works so that you can make better investment decisions in the long term.
What is a cryptocurrency?
A cryptocurrency is a type of digital currency that can be used to make payments and perform other types of monetary transactions in a transparent yet private manner. Most of today’s cryptocurrencies work on blockchain technology, which is a peer-to-peer system for verifying, recording, and processing transactions involving cryptocurrencies. All the records and data in a blockchain are stored in a decentralized, distributed ledger and cannot be changed once recorded.
Cryptocurrency is an independent currency, i.e. it is not governed or regulated by any centralized entity like a bank or the government. The value of a cryptocurrency is derived by the user sentiment, the same as any other asset. With cryptocurrency, you get the benefits of transparency, low or zero transaction fees, among other things.
Investing in cryptocurrencies will usually follow these steps:
Investing in cryptos is more or less like investing in stocks or shares. It involves the same procedure, finding an exchange based on your requirements, investing in the right cryptocurrencies, and then tracking the portfolio performance.
1. Finding the right crypto exchange
A cryptocurrency exchange is a platform that allows you to trade (buy/sell) cryptocurrencies. Your focus should be to find and join an exchange that provides access to a large variety of coins, has low transaction fees, supports fiat or bank deposits & withdrawals, and most importantly, is secure and reliable.
There are many good crypto exchanges out there, such as Binance, TTNEX, WazirX, etc. Compare and choose the best one for your needs.
2. Join the exchange and start trading
Once you have found a good exchange platform, half of your work is done. Now, you only have to sign up and complete KYC on the exchange website in order to start trading.
Once you are done with that, you can start depositing funds in your exchange wallet through wallet transfer, credit/debit card, or bank deposit, as allowed by that particular exchange. Once you have funds in your wallet, you are ready to buy some cryptocurrencies.
Now, choosing the right cryptocurrency for investment is very important. You can look at the past history and records of a particular coin that you like. Also, you can consider investing in top coins like BTC, ETH, among others. If you have a deeper understanding of the crypto market, do your research and invest in high-potential, long-term cryptocurrencies like the Titan Coin.
You can invest in the Titan Coin via the TTNEX exchange or any of the other top exchanges where the coin is listed. I recommend holding your TTN for a certain period and sell for a high price in the coming future.