Start investing in cryptocurrencies

In recent years, we have seen cryptocurrencies like Bitcoin, Monero, Ethereum, and Dogecoin become popular. By now, everyone should know, to a greater or lesser extent, what cryptocurrencies are, what they are based on to generate value, and why there are so many different types.

My name is Samuel, and in this post I will tell you everything you need to know about cryptocurrencies.

First, what are cryptocurrencies?

Cryptocurrency is a type of currency that exists only in electronic form.

It is an alternative payment system based on cryptographic techniques.

This system does not rely on banks, but on people; it is a peer-to-peer system.

If you own cryptocurrencies, you will have access to a key rather than a physical object. This key will allow you to transfer that value to another person or entity without the need for an intermediary or trusted third party.

Some tips to keep in mind before getting started in the world of crypto:

1. The first thing you need is knowledge, to get to know the world of crypto and learn everything about it. Without this knowledge, whether about the crypto ecosystem or how to do it successfully, you will be at a loss. You can start with our crypto blog, for example, although there are thousands of other blogs that can help you as well; the information is just a click away.
2. In addition, it is necessary to have money. You should calculate what percentage of your savings you allocate to investing and which you will allocate to cryptocurrencies.

6 Keys to Start Investing in Cryptocurrencies:

If this is your first time investing, I recommend you get started in this world by following the keys I provide below.

1. Learn about the types of cryptocurrency investment.

You should know that there are different ways to invest in cryptocurrencies.

• On the other hand, there is cryptocurrency trading, and as you can imagine, the first thing you need to know is how to trade. Trading involves buying and selling financial assets to profit from these movements.

• On the other hand, there is cryptocurrency mining, which basically consists of solving mathematical problems in exchange for a reward. For this process, you need equipment, which is a bit more complicated. I will leave you more information here if you are interested.

• Another way to invest in cryptocurrencies is to invest for the long term. This is where we buy cryptocurrencies to hold them for a long period of time, hoping that they will increase in value over the years. This is the option I recommend if you are just starting out.

2. Learn about the types of cryptocurrencies and their projects.

Knowing about cryptocurrencies and their projects will allow you to have an idea about their usefulness and future. It is essential to know exactly what we are investing in, not because of fashion or popularity, but because we truly believe in it.

3. Start with Bitcoin or Ethereum.

To start, it is ideal to do this with the most secure cryptocurrencies. They are among the cryptocurrencies with the highest market cap in the world, making them very reliable and secure compared to other projects in the cryptocurrency world.

They are among the most valuable today, and their chart tends to grow in the long term.

4. Invest for the long term at first.

Long term investing involves less risk and less involvement on your part. You buy and hold for a period of time, believing in what you are investing in. This way, you can avoid headaches and not be affected by price fluctuations at certain times.

5. Store your cryptocurrencies in a safe place.

We recommend that you store your cryptocurrencies in a cold wallet. By being offline, you can avoid having your private key compromised. These passwords or keys prove that you are the owner of the corresponding address and the funds it contains.

Specifically, we recommend the Material Bitcoin (for Bitcoin) or Material Ether (for Ethereum). They are ultra-secure, fire- and flood-resistant wallets, allowing you to store your cryptocurrencies without fear.

6. Only invest money you don’t need.

This is classic advice in this world. Invest money that you won’t need in the future, it’s the golden rule, yet there are still news stories of people losing everything because of this. No matter how safe your investment is, there is always the possibility of it, as with everything in life.

The good thing is that you can prevent such situations by following the golden rule.

What should I do to start investing in cryptocurrencies?

To invest in cryptocurrencies, the first step is to choose a cryptocurrency trading platform. Once you have chosen the platform, you can create an account and complete the required verification process. After that, you can deposit funds into your account and start trading. If you want to buy Bitcoin safely, you can use our service to do so.

To buy Bitcoin, you can select the BTC/EUR trading pair and then choose the amount in Euros you want to spend. Once your purchase is complete, the Bitcoin will be transferred to your trading wallet. Keep in mind that the process may vary depending on the trading platform you choose, so be sure to read the instructions carefully before making any transactions.

Investing in cryptocurrencies for non-experts

A simple way to invest in cryptocurrencies safely, even for non-experts, is through Material Bitcoin. Simply go to the store, choose the wallet you want (to store your Bitcoin or Ethereum 100% safely), and then choose the amount you want to deposit into your wallet. Then we will send it directly to your home.

Additionally, you have access to a variety of tutorials and helpful support service in case you need assistance.

We are the first Galician company to obtain official registration from the Bank of Spain.

Advantages and disadvantages of investing in cryptocurrencies.

Cryptocurrencies are becoming popular and could change the face of the traditional financial world. Cryptocurrencies have many advantages, but like everything, they also have disadvantages. Do you want to know what they are?

Five Advantages of Cryptocurrencies

1. Possibility of making huge profits

There are currently more than 10,000 cryptocurrencies on the market. Prices are mainly dependent on supply from miners and demand from buyers. For example, Bitcoin is currently priced at $40,000 (as of April 26), which is quite high.

2. Blockchain technology is secure

We can simply define blockchain technology as a public, distributed (decentralized) database, through which all types of information can be sent, received and stored from anywhere in the world with an internet connection. Thanks to this new technology, it has become impossible to copy and duplicate something that is both public and available to everyone at the same time.

3. A more fair and transparent financial system

Anyone using a given blockchain has confidence that no one can manipulate the information in it, and thus the intermediaries that exist today, such as banks, notaries, electoral colleges, counties, etc., can be eliminated.

4. The cryptocurrency market is always open

Transactions can be made 24 hours a day. There is no need to wait to buy, sell or trade cryptocurrencies.

5. Cryptocurrencies May Help Win the Battle Against Inflation

By investing in assets that outperform inflation over the long term, or better yet, putting your savings into assets, their value and purchasing power grows over time.

Three Disadvantages of Cryptocurrencies

1. Understanding cryptocurrencies takes time and effort.

The world of cryptocurrencies is complex, and educating yourself takes time and effort. No one is born knowing everything about it.

2.Volatility

While the price of a cryptocurrency may rise dramatically, it can also fall just as quickly. Remember, cryptocurrencies are a great opportunity, but you can lose everything.

3. Beginners are at risk.

Don’t forget that there are hackers and scams like phishing. Experienced investors are usually aware of this, while beginners are more likely to fall into such traps. In this article you can read about the typical beginner mistake “The dangers of leaving cryptocurrencies on the exchange”.“

Tips and basic concepts for beginners

One of the best investment tips I can give you is what I already mentioned, which is to invest in popular cryptocurrencies like Ethereum or Bitcoin. Not only are these currencies less volatile, but they also have a high return on investment.

Bitcoin or Ethereum. Which should I buy?

My other recommendation is to do your research and educate yourself well before you start investing. In my opinion, this is very important.

You can gain knowledge through our blog, where we upload new articles every week. In addition, here are the best Bitcoin and cryptocurrency forums to learn and stay updated.

How many cryptocurrencies are there?

According to Coinmarketcap, there are currently 9,953 different cryptocurrencies in circulation. But, which cryptocurrencies are the most profitable? Here’s my list, the top three cryptocurrencies that I think should be part of any good crypto portfolio:

• Bitcoin (BTC)
• Ethereum (ETH)
• Cardano (ADA)
• polygonal (MATIC)

Bitcoin is the main cryptocurrency you should consider investing in:

Bitcoin is, and will remain, the best cryptocurrency on the market for five simple reasons: its scarcity, security, decentralization, transparency, and global acceptance as a store of value. With these five components, the only path is a positive and sustainable revaluation over time.

I hope all this has helped you. My opinion is that in these times, it makes no sense to walk away from the world of cryptocurrencies, and the place to start is undoubtedly Bitcoin.

If you want to buy Bitcoin or store it in the safest place, do it here.