Get Started in Crypto : In todays marketplace, buying and selling cryptocurrency has never been easier. The steps to get involved in this emerging market are straightforward, even for novice investors. Here are some quick
and easy steps to help you start this exciting endeavor. Get Started in Crypto
Even Though Getting Started Is Easy, There Is Still an Inherent Risk
Cryptocurrency, by its very nature, is a very volatile investment. One example of a cryptocurrency that people are pretty familiar with is Bitcoin. It is not uncommon to see this type of investment drop by 20 or 30% in one week and then rebound by that amount or even more in the next week.
One thing for investors to remember is that cryptocurrency is not FDIC insured. So if you like the idea of
the security of having your money sit in a bank with that type of protection, cryptocurrency might not be
for you.
One other important thing to remember is that all of the gains you achieve in this type of investing or
taxable events. Most gains achieved in this investing get treated as capital gains by the IRS, which is
something to be aware of in your overall financial planning.
The Steps You Need To Take To Get Started
One of the first steps you will need to take is to choose an exchange. This exchange is where you will do
all of your buying and selling of cryptocurrency, and quite often, it is also where you store your
cryptocurrency.
Plenty of exchanges are available on the market, such as Coinbase and OKX trade spot. It is always best
to look through every exchange and see what it offers. It is best to find exchanges providing a simple
interface that makes a good platform for novice users.
Once you have found your exchange, your next step is deciding which types of cryptocurrencies you
would like to purchase. The days of having just one type of cryptocurrency are long gone, so there's
plenty of research ahead for you as you make your choices. Most exchanges will only offer a small
number of cryptocurrencies, making your choices somewhat easier.
As you begin to research different cryptocurrencies you can purchase, you also need to start to think
about how much you would like to invest in this market. An important reminder is to start small so that
you can learn about this somewhat volatile investment without too much risk.
As you begin investing, you will need to keep all of your crypto in a wallet. There are a variety of
different wallets that live both online and offline. Do plenty of research to decide your best balance
between access and security for this sensitive information.
Practically anyone can get started in cryptocurrency with just a few simple steps that are no more than
being able to verify your identity, access readily available funds, and then find an exchange where you
can do your transactions. As with all volatile investments, make sure you start small and grow slowly as
you learn more about this emerging marketplace.
