Hi everyone, I would like to ask a very simple question on how to start on crypto if that is what it is called. The idea for me is in hopes I can just earn here and there mainly to help with monthly expenses. Not looking to invest like 5 figures but more of like 3 to 4 figure ranges to create that monthly recurring for my expenses.
Here are some basic steps to getting started with cryptocurrency that I can suggest:
- Select a cryptocurrency exchange: There are a number of reliable exchanges to choose from, including Coinbase, Binance, and Kraken.
- Create an account: You will be required to give personal information in order to authenticate your identity and create a secure account.
- Fund your account: Most exchanges allow you to fund your account using a bank transfer or a credit card.
- Choose your cryptocurrency: popular alternatives include Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).
- Make your purchase: Once you've deposited funds into your account, you can use them to purchase the cryptocurrency of your choosing.
- Keep your cryptocurrency in a secure wallet: It is critical to keep your cryptocurrency in a secure wallet. You can retain it on the exchange or move it to a hardware wallet for additional safety.
- Keep track of the value of your cryptocurrency investment and consider selling if it reaches the desired profit level.
Keep in mind that cryptocurrency is a volatile market, so only invest what you can afford to lose.