As the industry still continues to evolve and grow, it is surprising to learn that still only a very small relative percentage of people have holding of cryptocurrency. Undoubtedly this is influenced a lot by market movements at any given time which can generate huge amounts of hype.
Another point though which can stop investors from joining the market are the perceived difficulties when it comes to getting started. A fear of the unknown often plagues many. So, how easy is it to actually get started and buy your first crypto?
Research and Budget
As with any form of investment, this is key. It doesn’t matter where you’re from, getting into crypto in Australia or Azerbaijan holds the same initial principles. Make sure you carry out your own extensive due diligence on your investment, and as you will hear time and time again, only invest as much as you are willing and able to comfortably lose.
Exchange & Wallet
Once you have educated yourself a little, getting involved is very easy. Simply log on to one of the many crypto trading exchanges such as Coinbase. Register and provide the necessary information at this point, deposit some of your hard earned cash and you are ready to trade.
Once you have made some trades (careful with your bankroll) and are happy with your holdings, you should store them in a secure wallet. This set up is also simple, and exchanges like Coinbase can also provide this service. Keep your passwords and keys safe (this point is vital).
Again, these can originate from your exchange holdings or those in your wallet and are really easy to perform. Simply enter the address of the wallet you want to send to, take care of the related small fees, and you are all done. It really is that simple.
Perhaps it is some misinformation which people pick up on, or other unrelated factors which influence them to believe that getting into crypto can be difficult and unsafe. That is simply not the case. Although it is a very simplified version, by following the above steps, you have become involved in the industry and completed your first trades.