Bitcoin So, you’ve learned about cryptocurrency, understand the risks involved, and have taken care of your financial responsibilities. Now, you’re ready to invest in crypto.
There are many different cryptocurrencies to choose from, but only a few that are worth considering. If you want steady and long-term gains, go for well-known cryptos like Bitcoin and Ethereum. However, if you’re open to taking on more risk and potentially making more money, you can explore lesser-known altcoins. No matter what you decide, here are some tips to help you get started with your first crypto investment.
1. Fund Your Account
When you create an account, you may need to give some information about yourself. You can also connect your bank account or debit card. It’s important to know that just putting money into your crypto account is not the same as investing. To actually invest, you need to take an extra step and exchange your dollars for the specific cryptocurrency you want to buy.
2. Practice Safe Storage
Coinbase and similar platforms provide a safe place for storing your investment in your account. But if you want even more security, you can use a cryptocurrency wallet. There are different types of wallets available, each with different levels of security. Some platforms may offer their own wallet option, while others like PayPal and Venmo do not. Alternatively, you can choose to use third-party software or store your cryptocurrency offline on a hardware device known as cold storage.