Introduction
The first thing you need to know about crypto-currency investment: It’s a risky investment and you should not invest money that you can not lose or need to redeem soon. Today there are over 1600 crypto coins being the firstborn soon after the financial crisis of 2008, Bitcoin, other currencies were called altcoins, that is, a word derived from alternative coins. Usually, you will first need to buy bitcoins to be able to trade for other altcoins in Exchanges (crypto-coin dealers). Let’s start with the basics:
Why is bitcoin so disruptive?
- Fast: transferring bitcoin is very fast and can be almost instantaneous.
- Cheap: transferring values into bitcoin can be much cheaper than traditional means. You will pay the same fee to transfer a dollar or a million dollars.
- It is not confiscable: once your bitcoins are in your personal wallet no one can confiscate or take them from you.
- Privacy: Your wallet is not tied to your name, address or ID card, meaning when you create a wallet you automatically win a code.
- No banks: you are your own bank, owner of your money.
- Non-inflationary: only 21 million bitcoins will be generated, unlike FIAT coins that are printed whenever governments need more money.
Important tips
- The exchange is not wallet: Crypto-dealer brokers have already been hacked and are a very attractive target for criminals, so look to save your coins ONLY in your wallet.
- Back up your wallet and keep the seed in a safe place, otherwise, if you lose access to your wallet your coins can never be recovered.
- Never invest more than you can afford to lose.
- Invest for the long term, think about a minimum horizon of 5 years.
- Do not believe in companies that promise guaranteed profits with investments in bitcoin or any other crypto. Be wary of any company that promises fixed income. Example: “30% in 1 month, 10% in 10 days, double your capital”, etc.
- Investment in domestic mining is not currently profitable due to the high cost of hardware and energy, do all the calculations before investing in it.
- Mining in the cloud may seem attractive for securing monthly earnings, but what has proven most profitable is just buying and holding (holding) the coins.
- Always enter the broker’s website or foreign exchange in the address bar, so you avoid clicking links from fake sites that can steal your data. One tip is also to save on the favorites the sites that more often use and always access there.
How to begin?
First of all, you need a bitcoin wallet. Think of it as your bank account, you need it as much to receive as to send bitcoins. There are 3 types:
Paper wallet — As the name says it is a paper wallet that contains only your public key (used to receive bitcoins) and private key (you need this key to send resources or restore your wallet). They are not very practical for everyday use, they may perish or spoil over time, but they are the safest method of storing bitcoins. If you want to create one you can do this in this site: https://bitcoinpaperwallet.com/
Hardware wallet — These are specific hardware for storing bitcoins and some crypto-coins. It is considered a very safe method because to transfer the coins is always necessary for the hardware and the password. The two most used hardware wallets are Ledger Nano S and Trezor, both can be purchased from Amazon.
Cell phone wallet (indicated) — They are a good option to store your crypto coins. It is only extremely recommended to back up and seed your wallets in order to recover your cryptos if you lose access to your cell phone.
Coinbase — Here you can store the main crypto-coins, buy and sell: bitcoin, ethereum, bitcoin cash and litecoin. Create your portfolio: http://bit.ly/2LeWj6i
Enjoy and download the Coinbase app for iOS and Android to get access to your cryptocurrencies whenever you want.
How to buy altcoins?
There are several exchanges, but here to facilitate I will present only one that passes excellent confidence to the market and has a wide range of currencies for trading.
Binance — Send your bitcoins to Binance and switch to other altcoins with ease. Make your registration here: http://bit.ly/2s1YJN3
Win a free bitcoins to get started
Earn.com — Last tip for those who are starting out and want to earn some bitcoins to learn more about its operation is Earn.com. Answer a few simple questionnaires that pay between 1 and 5 dollars, paid even already I have collected more than $ 300. Make your sign here: http://bit.ly/2LmVQBS
These were just a few tips for those just getting started, hope you enjoy it.
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Bitcoin (BTC) — 3HRsj8GUzEzyP7jTTqfnctK1vnSMFAK8MC
Ethereum (ETH) — 0xB668f2C5a936716e5e59A63d0D307A8C3Ec9482f
Litecoin (LTC) —M8hCuH3Ufb7pCFyY8535boRkdmnq22uKc3
Bitcoin Cash (BCH) — qrp7ed6kcz8eheqw5lzd52czu0cac8hc7yyrumtlj9