– Getting Started & Next Steps

Where to Start when you Wish to Invest in Cryptocurrency

The popularity that cryptocurrencies enjoy presently has made the highly desirable and valuable. There are more investors keen in getting in on this market. Most of them are however not conversant with it to know where to start. It is also something that raises a lot of questions on its nature. Here is a guide that shall help you learn how to trade in Bitcoin and other forms of cryptocurrencies.
You will first of all need to get a cryptocurrency exchange. There exist several of those, each with their pros and cons. You need to assess them in terms of fees and purchase options, supported coins, security, as well as liquidity. These are important factor when it comes to any exchange you wish to use. You need to land one with favorable fees applied. The more the coins trading there, the better the chances of making profits. There is also the security issue. You should only go where they take security seriously, with things like secure passwords, two-factor authentication, offline cold storage for most of your funds, and professional grade encryption in place.
It shall thus be time to create a wallet. This shall enable the safe storage of your cryptocurrency. There is always a provisional wallet at your chosen exchange, but you should not leave your currency in there for too long. The best place to give you the security you need is your wallet. You need to take care of that private key. It allows you to transact safely. Any amount you have no use in the trade should go to the offline storage. You need to then keep that info secure at all times. If you lose that offline info, you will have lost a huge investment permanently. You will find hardware wallets for such storage. You can find more info on them here.
You should now proceed to buy your first Bitcoin. This shall be possible once you fund your wallet. There are choices you can make in this. There are options that allow you to use your credit card or bank account to make the buy. You can then move them to your personal wallet of the trading wallet at a larger exchange.
You can so far go into selling and trading Bitcoin. You should have a plan on how you intend to do so, and the discipline to do so. You may, for instance, avoid the temptation to put more than 5% of your total portfolio on a single investment. This is how you keep your losses down should there be a poor trade.
Never trade with amounts you cannot afford to lose. There is always risk in investment. This market has the ups and downs of other markets. You need to keep the trading amounts conservative.
There are articles on this site you can refer to for investment advice.