Crypto for dummies 101

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Crypto for dummies 101

In today's article, we are going to go through a quick tutorial on the basics of cryptocurrency. Now I'm going to try to keep things simple in this blog and not too overwhelming so that the crypto newbies can understand it clearly. One of the main reasons I decided to write this blog was that I'm starting to see more public interest in cryptos. It's not even the general public but I'm also seeing more of my friends and family take more interest in it as well. So that's the main reason I decided to write this blog article today. With all that being stated we can now jump into the article.       


How to buy crypto and where
Now one of the first things you need to learn when it comes to purchasing and investing in crypto is how you do it and where. Now there are multiple apps you can use on your phone to start buying crypto. If you are the type of person who doesn't like to make investment decisions from your phone then you can also use the exchanges' websites as most mobile exchanges also have a website. Now you may ask which apps or websites do I use? Now there really isn't a simple answer to that because it depends on what crypto you want to buy and whether that exchange is allowed in your country. If a certain exchange is a ban in your country and that exchange is the only centralized exchange you can get it from then it's possible that you can use a Dex (decentralized exchange). The only downside to using a Dex is the gas fees that are associated with them. Now if you don't know what your doing then it's recommended you don't use a Dex. However, A universal exchange that is accepted almost anywhere and has almost every major crypto listed is kucoin they also have low fees.    




What cryptos to buy
Now this question can only be truly answered by yourself as you have to weigh out the risk and benefits of buying that crypto. However, what I can tell you is that you need to focus on the goal of the project and its market cap. Now when it comes to the goal of the project you need to figure out exactly what the problem is the team behind the crypto is trying to solve. If it's something that already a million other projects are trying to solve then it's likely you shouldn't be trying to invest in that crypto. You want to try to find a unique project or at least a project where it was the first of its kind as usually the projects who get to the first punch are usually the ones to succeed the most just take a look at Ethereum which was the first of it's kind or Dogecoin even as it was the first meme coin. Another point of interest when it comes to cryptocurrencies is the market cap of the crypto you buying. The market cap tells you the value of the crypto and can help you gauge how much percentage gains you can gain from the crypto it can also tell you where the project is heading and if it's legit.  



     

How to use your crypto

Now there are all kinds of ways you can use and spend your cryptocurrency. Now if you want to know how to live off of crypto and how to spend it you can read my previously written article on how to live off of it. Now you can start making money on your cryptos as well besides from trading them. I get more in-depth into how you can make more money from your cryptos in my previous blog article. As of right now not too many companies and retailers accept crypto as payment, but as time goes on I'm sure more well-established companies will start accepting it. Make sure to read my previous blog articles to learn more on how you can use your crypto as not using your crypto to make money is the worst thing you can do for yourself when it comes to hodling crypto.        





My Final Words

If you enjoyed the blog leave a like and share it on social media. Leave me some feedback with your comments to let me know how I did. Let me know what you liked and what you didn't so I can improve the blog. All your likes and comments are deeply appreciated. They motivate me to write more and better blogs and help me expand and help spread the word. Make sure to follow the blog to stay up to date. You can also follow the blog's Instagram where I post daily content as well as letting people know when my new blog post drops and I also give out my crypto trades on there. Then there's also my website where you can put in a submission form to let me know what topics you want me to cover along with other things such as referral codes and affiliate links. Thanks for reading hope you enjoyed it. 

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