Beginners guide #1 : How to get started with Cryptocurrency.

skpjr001 (56)in #steemit • 9 years ago (edited)

Hello guys ,
Let's get started with first come first serve things and get little bit familiar with cryptocurrency , this beautiful cryptocurrency world got started from ZERO and now its worth about $180 Billion and has an bright future.

I'm pretty sure that you know about bitcoin that terminology became so popular in last six months like an brand ambassador for crytocurrency and it must be because it all started with bitcoin.

Bitcoin was founded in 2009. It represented the first decentralized cryptocurrency. It’s the oldest, and, as of October 18th it reached an all-time high of over $5,800. Just six months prior it was worth about $1000. While you’re trying to wrap your head around that, keep in mind Bitcoin isn’t the only cryptocurrency out there.

There are almost 850+ Cryptocurrency coins listed on coinmarketcap and cryptocompare. Before you decide an coin to get your hands wet with..

You need a wallet :

As the name says wallets are used to store your cryptocurrency securely. Wallets are of two types hardware and software wallets but for now you should worry about software wallets.

Here's few to get started with:

1.)Blockchain-probably the most famous cryptocurrency wallet.
2.)Coinbase - trading and wallet platform.
3.)BTC.com

Buy an established and standard coin :

You don’t have to start off trying to predict which ICO (Initial Coin Offering) is the best investment. There are numerous ways to aquire cryptocurrency from an established coin. Here are some of the best coins to get your research started:

1.)Bitcoin : The big one as the saying says , "Old is gold".
2.)Ethereum: Also known as world's computer because of its features and services.(its an huge topic)
3.)Ripple: Decentralized but built over different technology and backed by Google.

You can buy from an ICO (Initial Coin Offering) :

Nowadays, it seems like there’s an ICO for everything. I won't recommend to directly jump into it , simply because you should research an ICO much more in-depth than would be prudent for the purpose. However, I'm happy to provide some links that might help you out figure out certain things.

1.)Coin Schedule : provides analysis on current and upcoming ICOs.
2.)Smith and Crown : provides ICO listings.
3.)Ico - list: Well known site out there for information regarding ICOs.

It's time to reach exchange:

Deppending upon which coin you are investing in you'll either visit an exchange or what method of purchase the offering requires and once checkout whether your coin is listed at your prefered exchange.

Exchanges (worldwide):

1.)Bittrex :Supports majority of coins.
2.)Bitfinex :Easy and simple to use.
3.)Kraken : Costly but neat and clean user interface and upto 5x leverage.
4.)Coinbase : Wallet and trading with simple UI.
5.)Bitmex : Complex but heaven for experts and allows upto 100x leverage.

Exchanges (India):

1.)Bitcoin India : It is an startup with limited services based in hyderabad.(use Ref-Code:sachin113) , it is app based and KYC verification can be done in couple of hours and I personally use this.
2.)Zebpay : App based bitcoin exchange pretty simple to use.
3.)BTCXIndia : Official ripple partner from india , web based ripple exchange and headquaters in hyderabad.
4.) and many more like unocoin , Buyucoin and Koinex etc.

The above links should provide you with enough information to get you started on a path to dominate the cryptocurrency markets and become rich beyond fantasy. Or you could lose a bunch of money.