•5 years
Cryptocurrencies where to start?
Hello. I would like to start investing in cryptocurrencies. Could someone help me and advise me on how to best enter this industry? Which exchange to use to buy the first cryptocurrencies? Which wallet that supports many different cryptocurrencies will be the best for a beginner and at the same time as safe as possible. Is now a good time to enter such an investment? Is it better to buy bitcoin or maybe be interested in smaller cryptocurrencies such as ethereum or chiliz? What do you think?
Thank you for all your advice and best regards. Tomek :)
Hello. I would like to start investing in cryptocurrencies. Could someone help me and advise me on how to best enter this industry? Which exchange to use to buy the first cryptocurrencies? Which wallet that supports many different cryptocurrencies will be the best for a beginner and at the same time as safe as possible. Is now a good time to enter such an investment? Is it better to buy bitcoin or maybe be interested in smaller cryptocurrencies such as ethereum or chiliz? What do you think?
Thank you for all your advice and best regards. Tomek :)
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There is a saying that the good moment was yesterday and the next good moment is today. Of course, I mean the long-term perspective, because none of us know if the bear market will deepen and prices will fall even more. Therefore, when buying, take this into account and it is best to buy in levels, that is, break your capital into many transactions with different price values.
As for exchanges, in my opinion there are at least a few factors that should be taken into account when evaluating them:
- low transaction fees,
- wide offer,
- availability of crypto-fiat pairs (e.g. BTC-PLN),
- transparent interface,
- no need to verify your account through the KYC procedure.
I don't know an exchange that meets all these requirements, so it's worth focusing on what you consider most important.
The largest of the exchanges is currently Binance: it has a very high liquidity and transaction volume, a wide selection of cryptocurrencies in many pairs (including stablecoins), the possibility of using staking, launchpads and many other opportunities for additional earning. Until recently, KYC verification was not required on it, but unfortunately that changed in 2021. If this is important to you, you can set the Polish language on it, but as far as I know, you will not make a transfer in PLN.
This option is available on the Polish Zonda exchange (formerly BitBay), but it also has a lot of disadvantages, e.g. high transaction fees, mandatory KYC and a small amount of cryptocurrencies to choose from compared to Binance.
If you care about anonymity, then it is worth taking a look at the Kucoin exchange, which does not require KYC (because it does not support fiat currencies, so the only option is to deposit and withdraw in crypto), and also boasts a large amount of available cryptocurrencies.
At the beginning, I advise you to try one or two larger exchanges, because the smaller the stock exchange, the greater the risk of losing money, for example as a result of a hacking attack or the sudden "disappearance" of its owners. Large exchanges usually return stolen coins from their own funds to owners. At the beginning, I would not suggest the availability of a game on leverage or complicated financial instruments, it is safest to start with simple transactions and education about crypto.
Bitcoin and Ethereum are considered the most secure cryptocurrencies, but still their price fluctuates greatly. Altcoins, on the other hand, can drop to almost zero, so I advise you to be careful. It is very difficult for a beginner to distinguish between a good cryptocurrency project and a scam.
When it comes to wallets, Ledger is the best for me. I can take it anywhere, it provides a high level of security, I had no problems. The price hurts a bit, but there are reductions sometimes, it's worth following. With more crypto, it pays off anyway. Trezor has good reviews too, but costs a little more. The difference is not that big, however.
One thing is very important - it is better to buy directly from the manufacturer. It is never certain whether a private person placing an advertisement has installed spyware on a device. It would be a shame to lose your cryptocurrencies through such an oversight.
You can also choose a "paper" wallet, ie without being connected to the network. It is simply a printed key, consisting of many characters, which, when making a transaction, must be entered in the appropriate field on the stock exchange or another platform. The sheet itself can be damaged, lost or become illegible, so you need to take care of your backups and hide it well. Only one type of cryptocurrency can be stored in such wallets.
Whatever you choose, remember about safety, education, and keeping your emotions in check. Good luck!
As for exchanges, in my opinion there are at least a few factors that should be taken into account when evaluating them:
- low transaction fees,
- wide offer,
- availability of crypto-fiat pairs (e.g. BTC-PLN),
- transparent interface,
- no need to verify your account through the KYC procedure.
I don't know an exchange that meets all these requirements, so it's worth focusing on what you consider most important.
The largest of the exchanges is currently Binance: it has a very high liquidity and transaction volume, a wide selection of cryptocurrencies in many pairs (including stablecoins), the possibility of using staking, launchpads and many other opportunities for additional earning. Until recently, KYC verification was not required on it, but unfortunately that changed in 2021. If this is important to you, you can set the Polish language on it, but as far as I know, you will not make a transfer in PLN.
This option is available on the Polish Zonda exchange (formerly BitBay), but it also has a lot of disadvantages, e.g. high transaction fees, mandatory KYC and a small amount of cryptocurrencies to choose from compared to Binance.
If you care about anonymity, then it is worth taking a look at the Kucoin exchange, which does not require KYC (because it does not support fiat currencies, so the only option is to deposit and withdraw in crypto), and also boasts a large amount of available cryptocurrencies.
At the beginning, I advise you to try one or two larger exchanges, because the smaller the stock exchange, the greater the risk of losing money, for example as a result of a hacking attack or the sudden "disappearance" of its owners. Large exchanges usually return stolen coins from their own funds to owners. At the beginning, I would not suggest the availability of a game on leverage or complicated financial instruments, it is safest to start with simple transactions and education about crypto.
Bitcoin and Ethereum are considered the most secure cryptocurrencies, but still their price fluctuates greatly. Altcoins, on the other hand, can drop to almost zero, so I advise you to be careful. It is very difficult for a beginner to distinguish between a good cryptocurrency project and a scam.
When it comes to wallets, Ledger is the best for me. I can take it anywhere, it provides a high level of security, I had no problems. The price hurts a bit, but there are reductions sometimes, it's worth following. With more crypto, it pays off anyway. Trezor has good reviews too, but costs a little more. The difference is not that big, however.
One thing is very important - it is better to buy directly from the manufacturer. It is never certain whether a private person placing an advertisement has installed spyware on a device. It would be a shame to lose your cryptocurrencies through such an oversight.
You can also choose a "paper" wallet, ie without being connected to the network. It is simply a printed key, consisting of many characters, which, when making a transaction, must be entered in the appropriate field on the stock exchange or another platform. The sheet itself can be damaged, lost or become illegible, so you need to take care of your backups and hide it well. Only one type of cryptocurrency can be stored in such wallets.
Whatever you choose, remember about safety, education, and keeping your emotions in check. Good luck!
There is a saying that the good moment was yesterday and the next good moment is today. Of course, I mean the long-term perspective, because none of us know if the bear market will deepen and prices will fall even more. Therefore, when buying, take this into account and it is best to buy in levels, that is, break your capital into many transactions with different price values.
As for exchanges, in my opinion there are at least a few factors that should be taken into account when evaluating them:
- low transaction fees,
- wide offer,
- availability of crypto-fiat pairs (e.g. BTC-PLN),
- transparent interface,
- no need to verify your account through the KYC procedure.
I don't know an exchange that meets all these requirements, so it's worth focusing on what you consider most important.
The largest of the exchanges is currently Binance: it has a very high liquidity and transaction volume, a wide selection of cryptocurrencies in many pairs (including stablecoins), the possibility of using staking, launchpads and many other opportunities for additional earning. Until recently, KYC verification was not required on it, but unfortunately that changed in 2021. If this is important to you, you can set the Polish language on it, but as far as I know, you will not make a transfer in PLN.
This option is available on the Polish Zonda exchange (formerly BitBay), but it also has a lot of disadvantages, e.g. high transaction fees, mandatory KYC and a small amount of cryptocurrencies to choose from compared to Binance.
If you care about anonymity, then it is worth taking a look at the Kucoin exchange, which does not require KYC (because it does not support fiat currencies, so the only option is to deposit and withdraw in crypto), and also boasts a large amount of available cryptocurrencies.
At the beginning, I advise you to try one or two larger exchanges, because the smaller the stock exchange, the greater the risk of losing money, for example as a result of a hacking attack or the sudden "disappearance" of its owners. Large exchanges usually return stolen coins from their own funds to owners. At the beginning, I would not suggest the availability of a game on leverage or complicated financial instruments, it is safest to start with simple transactions and education about crypto.
Bitcoin and Ethereum are considered the most secure cryptocurrencies, but still their price fluctuates greatly. Altcoins, on the other hand, can drop to almost zero, so I advise you to be careful. It is very difficult for a beginner to distinguish between a good cryptocurrency project and a scam.
When it comes to wallets, Ledger is the best for me. I can take it anywhere, it provides a high level of security, I had no problems. The price hurts a bit, but there are reductions sometimes, it's worth following. With more crypto, it pays off anyway. Trezor has good reviews too, but costs a little more. The difference is not that big, however.
One thing is very important - it is better to buy directly from the manufacturer. It is never certain whether a private person placing an advertisement has installed spyware on a device. It would be a shame to lose your cryptocurrencies through such an oversight.
You can also choose a "paper" wallet, ie without being connected to the network. It is simply a printed key, consisting of many characters, which, when making a transaction, must be entered in the appropriate field on the stock exchange or another platform. The sheet itself can be damaged, lost or become illegible, so you need to take care of your backups and hide it well. Only one type of cryptocurrency can be stored in such wallets.
Whatever you choose, remember about safety, education, and keeping your emotions in check. Good luck!
As for exchanges, in my opinion there are at least a few factors that should be taken into account when evaluating them:
- low transaction fees,
- wide offer,
- availability of crypto-fiat pairs (e.g. BTC-PLN),
- transparent interface,
- no need to verify your account through the KYC procedure.
I don't know an exchange that meets all these requirements, so it's worth focusing on what you consider most important.
The largest of the exchanges is currently Binance: it has a very high liquidity and transaction volume, a wide selection of cryptocurrencies in many pairs (including stablecoins), the possibility of using staking, launchpads and many other opportunities for additional earning. Until recently, KYC verification was not required on it, but unfortunately that changed in 2021. If this is important to you, you can set the Polish language on it, but as far as I know, you will not make a transfer in PLN.
This option is available on the Polish Zonda exchange (formerly BitBay), but it also has a lot of disadvantages, e.g. high transaction fees, mandatory KYC and a small amount of cryptocurrencies to choose from compared to Binance.
If you care about anonymity, then it is worth taking a look at the Kucoin exchange, which does not require KYC (because it does not support fiat currencies, so the only option is to deposit and withdraw in crypto), and also boasts a large amount of available cryptocurrencies.
At the beginning, I advise you to try one or two larger exchanges, because the smaller the stock exchange, the greater the risk of losing money, for example as a result of a hacking attack or the sudden "disappearance" of its owners. Large exchanges usually return stolen coins from their own funds to owners. At the beginning, I would not suggest the availability of a game on leverage or complicated financial instruments, it is safest to start with simple transactions and education about crypto.
Bitcoin and Ethereum are considered the most secure cryptocurrencies, but still their price fluctuates greatly. Altcoins, on the other hand, can drop to almost zero, so I advise you to be careful. It is very difficult for a beginner to distinguish between a good cryptocurrency project and a scam.
When it comes to wallets, Ledger is the best for me. I can take it anywhere, it provides a high level of security, I had no problems. The price hurts a bit, but there are reductions sometimes, it's worth following. With more crypto, it pays off anyway. Trezor has good reviews too, but costs a little more. The difference is not that big, however.
One thing is very important - it is better to buy directly from the manufacturer. It is never certain whether a private person placing an advertisement has installed spyware on a device. It would be a shame to lose your cryptocurrencies through such an oversight.
You can also choose a "paper" wallet, ie without being connected to the network. It is simply a printed key, consisting of many characters, which, when making a transaction, must be entered in the appropriate field on the stock exchange or another platform. The sheet itself can be damaged, lost or become illegible, so you need to take care of your backups and hide it well. Only one type of cryptocurrency can be stored in such wallets.
Whatever you choose, remember about safety, education, and keeping your emotions in check. Good luck!
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Start by learning the basic information about cryptocurrencies and blockchain technology. Choose a reputable cryptocurrency exchange, such as Binance, Coinbase, or Kraken, to start your purchases. When choosing a wallet, opt for one that supports many different cryptocurrencies, such as Ledger Nano S or Trezor. There is no clear answer to whether now is a good time to invest in cryptocurrencies. It is worth monitoring the market and making decisions based on your own analysis. When choosing between Bitcoin and smaller cryptocurrencies, always pay attention to portfolio diversification. Ethereum and Chiliz are interesting projects, but investing in them requires deeper analysis. In summary, start with learning, use reputable platforms and wallets, be aware of investment risks, and make decisions wisely. Good luck!
Start by learning the basic information about cryptocurrencies and blockchain technology. Choose a reputable cryptocurrency exchange, such as Binance, Coinbase, or Kraken, to start your purchases. When choosing a wallet, opt for one that supports many different cryptocurrencies, such as Ledger Nano S or Trezor. There is no clear answer to whether now is a good time to invest in cryptocurrencies. It is worth monitoring the market and making decisions based on your own analysis. When choosing between Bitcoin and smaller cryptocurrencies, always pay attention to portfolio diversification. Ethereum and Chiliz are interesting projects, but investing in them requires deeper analysis. In summary, start with learning, use reputable platforms and wallets, be aware of investment risks, and make decisions wisely. Good luck!
Machine translated