Investing in crypto early can lead to incredible profits! If you haven’t heard about Bitcoin and the meteoric rise of cryptocurrencies on global markets, you must be living under a rock. But if you know about all of this but don’t know how to get started, this might be the right blog post for you!
Today we will cover how a regular person can invest in Bitcoin and other cryptocurrencies and what they can expect from such investments in the future!
If you have a computer with a decent graphics card, there is a way you can get a bit of Bitcoin for completely free! (Well, you will have to pay for the empower your PC consumed, but other than that nothing!) And this is done via a process called mining.
Mining is telling your computer to do some specific calculations which help the Bitcoin network function and work properly. As a reward for your computing power, you will be awarded a fraction of a coin. Getting started with mining is not hard at all and there are a lot of resources covering it online!
If you don’t have a great computer lying around collecting dust, or you want to buy your Bitcoins instead of mining them, you will have to simply exchange your currency for crypto.
This is usually done through exchange and trading platforms online that take your FIAT currencies and convert them into a specific amount of crypto. There are a lot of platforms available and usually, the rule is simple, the bigger the platform the more trustworthy it is.
Some of the biggest ones at the moment are Binance, Tokocrypto, Kraken, Coinbase, and others. These platforms make it as simple as possible to get your first coins and to sell them if you decide to no want them anymore. It is important to note that you will need to pay for some transaction fees when transferring your crypto, buying crypto, and/or selling crypto. Luckily these fees are not that big and you should be able to make some decent profits even with them in place.
Investing in Bitcoin or other cryptocurrencies is simple. You either mine or buy yourself some amount of coins and then you hold on to them for the foreseeable future. You see, crypto is experiencing a meteoric rise in value ever since its inception a decade ago.
Bitcoin for example was valued to be a fraction of a US penny when it was released, but today a single coin can fetch over $65000! This means that people who invested a couple of hundred or thousand dollars in the past can now be millionaires if they haven’t sold their coins in the meantime.
The only downside to this is that there is no guarantee that crypto will grow indefinitely. Crypto as a whole is very unstable and one day it can rise drastically while another it can lose most of its value. There are no reliable methods of determining what will happen soon, so investing in crypto is a big game of chance and luck.
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