Beginner's Guide to Crypto

in #bitcoin7 years ago (edited)

Many friends have asked me how to get started in crypto in the last few months. The questions have only increased as I have been introducing everyone I can to this wonderful Steem platform. Steem is a wonderful way to introduce people to crypto. It's so much easier to wrap your head around sending Steem to someone's name instead of the usual wallet address that looks more like a launch code. This post is to help those people that are new to crypto.
The first step to get in the game is to buy some coins. There are many ways to buy many different coins. The easiest way would to buy from a friend. If that is not an option, Robinhood allows you to buy and save on fees. Coinbase is also an easy way to buy coins. BTC ATMs are an option as well but often have high fees. Choose one of these options and buy some coins.

You will need to use an exchange if you want to trade your coins. It is worth noting that LTC is cheaper and faster to send than BTC, so if your intent is to send it to an exchange then LTC may be the quicker option. There are many different exchanges you can use but I will make this very easy for you. Binance is the best exchange for many different reasons.
Binance has great software and also has the lowest fees. The fees are 0.1% and that can be lowered to 0.05% if you have the binance coin to pay the fee. So the first thing you should do after opening your Binance account is buy some BNB. You don't need much as 1 BNB coin is enough to trade over $20,000 worth of coins at the half price fees. Binance also does due diligence before listing a coin. You should still always do your own research, but it's nice to know that Binance won't just list any coin. If you need to make a Binance account, you can make one by clicking the link below.
https://www.binance.com/?ref=10220516
It is not advisable to keep your coins in an exchange unless you are actively trading them. If you intend to HODL your coins, you will want to move them to safer storage. Getting a hardware wallet is recommended. Cold storage is another safe option.
I have chosen to use Steem for its safe storage. If you have Steem in your account and power up to Steem Power, it would take someone 3 months to steal your funds even if they had your password. It's hard to imagine anything safer than that! Plus you get to enjoy all the benefits of having Steem Power. I've also invested in Steem because I believe in Steemit and the Steem community. This platform has amazed me and will continue to grow and amaze the world.
I would like to end this post by warning you of the risks of investing in cryptocurrencies. This is a very risky game as the prices are extremely volatile. Please be responsible and only invest what you can afford to lose.
Thank you for reading!

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Great insight brother. One tip for posting is to put a picture anywhere in your post, you can upload or right click any picture on the internet and 'copy image address' and then paste that anywhere in your blog. Now that picture will be next to your title on your blog and throughout the site's channels and searches. If you use more then one picture in a blog post, the top one will be the one shown next to your title.

Super excited you love this place as well!

Thanks for the great tip!

@themightyvolcano I would have give my own comment but I don't know much about bitcoin. Please can I learn it from you.I am giving this post my upvote. Thanks

great post - thanks for the information! all the recent issues with exchanges has really highlighted the need to take money out of them if you are choosing HODL...

Great introduction post! I use Coinbase and Binance as well. I am also thinking about investing a little bit into STEEM to get some more STEEM power and of course for staking. Followed you since I do crypto posts too!

Awesome, keep powering up!

Cool Post. Since you got the bitcoin tag do you have a prediction for Bitcoin over the next few days? Also followed you for future posts :)

I think Bitcoin will stay above 11k over these next few days. $4.20 isn't a bad price for Steem but I'd sure love to see it rise some more! Thanks for your follow!

Upvoted ☝ Have a great day!

Great post! I plan on buying some crypto tomorrow.

Hi @ themightyvolcano,Your right steemit is a good place to start.Lots of good infomation about crypto's.But most important you can find real peoples experiences here