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!