So You Want to Start Crypto? Here's How to Get Started

It’s hard to believe that it’s only been about 10 years since the term cryptocurrency was coined by Satoshi Nakamoto, the mysterious creator of Bitcoin, in his original 2008 whitepaper on the topic. Since then, cryptocurrencies have evolved into what are now called altcoins, which include hundreds of thousands of different tokens and coins. Anyone who wants to get started with crypto needs to first figure out what kind of digital currency they want to get involved with.

Learn more about blockchain
Before you can invest in anything, it’s always a good idea to know more about what you’re investing in. Take some time, educate yourself and learn more about blockchain technology. Remember, cryptocurrency isn’t something that exists in a vacuum; it has applications all over technology. When investing in crypto, take some time to think outside of just how much your investment will grow—see how other companies are using blockchain technology and how it will change industries like finance, health care and logistics.

Download MetaMask
MetaMask is a browser plugin that allows you to run Ethereum DApps right in your browser without running a full Ethereum node. The plugin connects to your MetaMask account, from which it can pull your Ethereum address, allowing you access to each of your crypto funds.

Buy cryptocurrency with Coinbase
Coinbase is one of the most popular options for buying and selling digital currency like Bitcoin, Ethereum, and Litecoin. It’s an online platform that allows users to exchange their fiat currency for digital currency in a few simple steps. Coinbase supports a variety of payment methods for US customers, including credit/debit cards, ACH bank transfers, wire transfers, or cryptocurrency deposits via bank transfer.

Buy coins on an exchange
Coinbase is a good place to start. Coinbase lets you link your bank account and/or credit card, making it super easy to purchase cryptocurrencies with fiat currency. Also, if you sign up through an affiliate link (like our Coinbase link) then you get $10 in free bitcoin! If that’s not enough of an incentive, check out places like CEX, Coinmama and CoinCorner which let you buy cryptocurrencies with paypal.

Set up your hardware wallet
A hardware wallet is a physical electronic device, built for cryptocurrency. These wallets store your private keys on a secure hardware device which are completely separate from any computer or phone. The benefit of using these wallets is that you can access them from any computer in the world, provided it has an internet connection and supports USB connections. Most people use online wallets for convenience, but that isn’t nearly as safe as having your own physical device.

Send your coins to your hardware wallet
Hardware wallets are small devices that you can use to store your crypto funds offline. There’s no need for software or a Wi-Fi connection, which makes it incredibly secure. But if you don’t have one, at least get in the habit of moving your coins off exchanges and onto a more secure wallet once you buy them. Once that transaction has taken place, cut up your exchange account credentials—don’t keep them around where someone can steal them again!

Keep your coins safe in cold storage
If you’re looking for a place to store your bitcoins, we highly recommend using an offline wallet also known as cold storage. It’s simply a way of storing digital assets on a hard drive that isn’t connected to any networks.
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Know the basics of cryptocurrency trading
This might be your first time looking into trading crypto. If that’s true, you may have some questions about what it entails. The good news is that crypto isn’t as complex as many make it out to be. As a trader, you need just a few things

Utilize cryptocurrency exchanges
One of your first stops after launching a crypto-related business should be one or more cryptocurrency exchanges. Exchanges offer an easy way for you to convert your fiat currency into cryptocurrencies, which is where much of your revenue will come from. For example, most bitcoin ATMs only accept cash in exchange for BTC.

Sell your first coin!
Selling your first coin might seem a little daunting. It’s not quite as simple as finding your favourite market, putting in an order and waiting for your money. Once you’ve set up an account and added some funds (you can exchange fiat for BTC, ETH or any other cryptocurrency through a digital marketplace like Coinbase), it takes time to get used to trading on exchanges—let alone profitable. However, there are a few steps you can take along your crypto journey that will help you avoid common pitfalls.

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