This is a beginners guide on how to have some fun on a budget & survive in the crypto wild
(it really is a jungle out there…)
All trading is done via exchanges and there are numerous exchanges, some reputable some not so reputable, below are some of the more reliable exchanges which I have used but this is just a sample.
The quickest way to get started is to use an exchange which allows deposits from your local fiat currency, I have found Binance to be pretty good as you can deposit from a credit/debit card but please remember the golden rule…
ONLY PLAY WITH WHAT YOU CAN AFFORD TO LOOSE.
If your using Binance you can simply use the ‘BUY CRYPTO’ tab which handles the deposit process for you, it will actually handle the purchase of the crypto you nominate as well so you can deposit direct to bitcoin then sit back and wait for the next bull-run. If you want to experiment and play the field then deposit to a stable coin like USDT, this is a US Dollar Tethered Digital Currency which can be used to purchase pretty much any crypto.
It is tempting to play the peaks and troughs of market volatility, selling high and buying back in low sounds easy but this is much harder and much more frustrating than you think, I have included some pointers on getting started in the trading section.
Bitcoin goes through cycles of insane growth followed by savage corrections, its just a matter of getting your timing right.
2017 was a period of massive growth followed by a savage correction, 2020 saw another bull-run…
Use the links below to create an account on an exchange
That being said there are actually numerous other ways of getting started without spending a cent,
it just takes a bit longer and a bit more effort.
The following are schemes I have been successful with so I know they work however of course I cant guarantee they will work for you.
Warning, many websites offering free coins cant send to an exchange wallet,
you need a non-exchange wallet for this.
TRACKING YOUR INVESTMENT
Once you have some crytocurrency, whether it be bitcoin or a collection of other currencies (alt coins) you will need an easy way to track and monitor price fluctuations.
I have tested many applications on the market and found Delta App to work well on both pc desktops and mobile devices.