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How You Can Get into the World of Crypto Today

17 February 2022 11:20, UTC

If you have an internet connection and a curious scrolling finger, you’ve most certainly come across the world of cryptocurrency. Even if you didn’t actually interact with it or get into it, almost no one can deny that they have come across crypto at least once in their lives.

For those who are completely uneducated about the subject, here’s a little summary of what you’re thinking about getting into. It all started when Bitcoin (BTC) came out. The scope of the project was to create a self-deflating currency that people invest their money in, and the more people invest in it, the more expensive the currency becomes. On the other hand, if people sell their holdings, the price goes back down. The tokens people buy and trade come from a liquidity pool, which affects the price with every transaction.

It took Bitcoin a few years to properly gain momentum, but ended up starting a craze in around 2017. Now there’s thousands of cryptocurrencies online waiting to be traded, and each coin has its own specific traits, as well as their own little markets.

How do you invest in crypto?

It’s pretty easy to buy your own cryptocurrencies to trade. There’s two main ways to do so. You could either buy directly through DeFi platforms, sending crypto directly into your E-Wallet or physical USB ledger, or you could use trading platforms, such as Xcoins, where traders could easily buy bitcoin with debit card, credit card, or even with paypal. Sites like this generally take care of your holdings for you, meaning you wouldn’t need any e-wallets or ledgers to keep your holdings safe.

Trading major cryptocurrencies

When it comes to trading cryptocurrencies, there’s a lot of options you can invest in. One such option is trading major cryptocurrencies, which are the biggest and most popular tokens to date, with very high market caps, lower volatility and smaller fluctuations.

These tokens are for those who want to invest a lot of money in a market which isn’t very volatile but could potentially make substantial growth in the near future. Some examples of major crypto tokens are; Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), USDT (Tether), and more. These coins are generally backed by massive global projects, which is why they are always the safest coins to invest in.

Trading Alternatives

Another option when it comes to trading is Altcoins, Meme coins, and Shitcoins. These three types of cryptocurrencies are a lot more volatile than their major counterparts, and they’re also a lot more common, especially amongst DeFi platforms, such as the Ethereum Network, or the Binance Smart Chain (BSC) network. These coins are generally best to invest in during their infancy, as they are often released priced at a fraction of a cent (sometimes up to thousandths or millionths of a cent) and some of them climb up so far in value that they can make anyone rich through minor holdings.

We have seen similar phenomena to this with many coins over the years. Some of the most significant alternative and meme tokens to date are; DogeCoin, Safemoon, Shiba Inu, SafeMars, Elongate, and more. These coins could easily give you a turnover which is 1000x your initial investment, but you need to be lucky to have found them at the right time, as just as easily their value can rise, they can also easily dropin value, ending up in a loss.