The ultimate Best 10 step guide to crypto investing

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Step I: Do You Know why you want to invest in crypto

Why you are considering invest in bitcoin and other cryptos?

If the answer to this question is unclear, or anything is remotely close to Duno, but I have heard that it can make you rich ", so much research is done.You need to do it before jumping into crypto.Now I am not saying that it is your motivation for the market to get monetary moneyInappropriate There are many people in this place. who have this primary drive, and it is absolutely fine. On the other side, there are others Believed by the prospect of blockchain technology and believe in the changing effects in the future.

Whatever the reason; The most important thing is that you remain honest with yourself, and understand your motivation for investing in crypto. Something has failed to understand that investment in the market is a gamble, and you really should not have to spend money. If you are 

struggling to pay day-to-day bills, then come back to this place later when you have some other disposable income. And if you are in a state Incredible FOMO (Fear of disappearing) then calm down! This place is still very new and it is likely to be around for a long time, so you The boat has not been missed. In fact, the boat is still being built. We are still in the early days of technology (think about Internet in the middle)90s. so there are still many benefits. Ask yourself these questions before you dive into the crypto world to find out why you are, After doing this, and share yourself with so much knowledge because you look forward to making the right decisions.

Step II: Do Some Research

"Knowledge Is Power"

- Francis Bacon

Your goal should be to develop a sufficient knowledge so that you can make informed decisions. Do some fundamental research to find In the crypto you want to invest, they will come a long way to ensure that you are allocating your money wisely. You should be able to answer Before investing in any crypto, the following questions:

what is it used for?

What is the problem of solving the problem?

Which technology is being used to solve the problem?

What kind of team and / or banking are there in this?

What are the future applications and what current technology allows it to be scalable?

Is crypto a coin, utility token or token protected security?

For example: Coins (Cryptocurrency) are currently here to curb the currency transactions and the way to do banking. Utility token services are

Which can be purchased by people holding related crypto, and recognized securities are considered more like stocks in the company.

The above questions should be answered whether you provide a general overview about crypto, how its technology can be used in the future and Whether or not the team has technical skills to solve claims of real world problems Also, understand what kind of category is your crypto Falls in the future, or which rules may applyfor coming. It is possible that time will come when regulatory authorities change how they deal with these crypto, it can mean that the effect can have meaning.Some people are unable to invest till you get the license to do so. So, where should you start your information?

I like to categorise information in two ways:

Subjective information 

Objective information 

Subjective information 

Forum, Blog Articles, Twitter Posts and Comments? - A special crypto may be useful in assessing normal stretch. However,You should be aware of the warnings present at the time when you source your information from such places. The people of this place are contained To reciprocate the interests of the ignorant people to earn interests and money. Be very careful with such people. They will try and pump them artificially Up to the top of the price of a coin to sell at the top. People are also commenting and recommending things they are probably not worthy of To talk about this. So take this kind of information with the grain of salt.

Objective information 

Found in company / organization websites, white papers and reliable news sources, you will provide a good starting point. This will allow you Check what the crypto behind technology is, how the crypto has performed in the market (note that the previous performance should never be taken Indicator of future performance), what support or team has been created around crypto, and if the team is meeting its goals. In short, make sure The information that you are absorbing comes from a trusted source.

A few general sources are listed below:

Wikipedia?— Wikipedia can be a great tool to collect an overview on any topic. So when in doubt, Wikipedia, who does nonsense and sees where takes you! Although this is not a complete resource, do not just stay here .Coinmarketcap? -? The website allows you to see every publicly listed crypto.

It ranks them according to your market capitalization and provides other useful information such as where you can buy and do specific business Crypto, historical data and more. Cryptobacterizers? - Crypto is the most comprehensive resource for early crypto Space. Easy to understand interpreters, tutorials, resources and more. Companie / Organizational Websites? These websites are operated by organizations Who has either established special crypto or is at the forefront of developing crypto. Such websites include bitcoin.org,etheruem.org,litecoin.org/litcoin.com. Many of these source projects are open where anybody can contribute. These organizations can often be seen as key Figures in relation to that crypto Podcast? There are many podcasts like Bad Crypto Podcast, Unchained, Coin Dexterity, Coin Talk And lots of Listen on your journey for Go Visit, and listen to different approaches from experts in space. blog post? While anyone canPublish a blog article, it can be a convenient way to follow what's happening in the crypto view. Over time, you should develop the following Trusted sources that you think you can trust or you may be concerned about who has proved to be experts in this field. For me it is included as authors James Altukhare, Naval Ravikant, Daniel Jeffery and many others.

Step III: Sign up to a reputable exchange and get verified

Now that you have done your research and you are ready to invest your first crypto, then you need to sign up for yourself on the exchange.Thousands of exchanges to choose, but which one is right for you? The truth is that there is not a 'right' exchange to buy crypto. Not all exchanges offer every crypto, so you may need to sign up to more than one exchange to buy the people you want. For example, Binance,The world's largest crypto exchange offers only bitcoin, lite coin, ether and bitcoin cache, where another popular exchange, Binance, Bittrex  offers approx 300. A reliable way to find a reputable exchange is to go to coinmarketcap.com, click the crypto you want to buy, then see 'Market'Tab. The 'source' column shows the trading of the biggest quantity of this crypto exchanges, so you can be well assured that the exchange A list of some trusted and popular exchanges are:

Binance

CEX

Bittrex

Coinbase

Bitfinex

Security:

This means two things:

How safe is your account? You should search for exchanges that enable features such as two factor authentication, login notifications Once verified, fully understand your customer (KYC) process. How safe is the exchange? Find exchanges who have a good track record and Has not been hacked earlier. If they were previously hacked, it is advisable to do some research to see what the outcome is going on. Hack What was their reaction? Have they improved the security measures after the hack?

Transaction fees:

You should be aware of the purchase of crypto and trade related transaction fees. You usually charge the fee (anywhere from 0.1-3%) Buy crypto on an exchange, which is essentially their duty to provide you service. However, when you send crypto to a different address, you There will be a fee which will reward the miners who validate the transaction. These are dependent on the crypto you are sending, as well as how busy it is The network will usually pay some cents for some crypto, and pay $ 5-10 or more for bitcoin.

Daily buy/sell limits:

Buy and sell limitations from the exchange to the exchange. They will often be determined by the level of verification on your account, as The exchanges need to ensure that who you are, what you say, and how much you can do if you have not been verified. Contains you inIdentifying a driver's license or passport, which can be very scary. There is also lack of concrete customer service in the exchanges It may take up to a few weeks to verify it at high demand.

Payment options:

After all the above is completed and you have passed the initial verification, you should at least be able to deposit money in your account One of the payment methods available below. Most exchanges will offer the following options:

Bank account transfer

Debit card transfer

Wire transfer

Credit card transfer

Some credit card providers have stopped all new and existing credit card accounts used to buy cryptocurrency. It's probably good The reason is that you are investing a risky game in crypto and are not using your money.

The fastest ways available to you will be bank accounts and debit card transfers, so it is sensible to go through these routes. please keep in mindThat some exchanges do not allow FIAT deposits, and are 'business only'. This means that you can not actually buy or sell crypto only in regular currencyTrade between cryptos So if you want to cut those sweet sweet cryptosity benefits, then you have to move to another exchange allowing crypto Dollar, Euro etc. Popular 'trade only' exchanges include Bittrex, Poloniex and Binance.

Step IV: Make your first purchase

 You've signed up on an exchange, it can be very difficult to make your first purchase. You are probably concerned about sending Your money and in fact the crypto you ask is not received. It is not particularly clear how to actually make a purchase. User experience for Most of these exchanges are blunt, nonsense! The rest assured, things will look better in the future, but for now you have to do this Deal with. That is, a non-user friendly location where it is difficult to get any good customer support. I will run you through some basic things you need Applicable to all major exchanges. When you buy your first crypto, it is incredibly important to understand that you start by choosing an exchange, believe it, And it is used by a large number of others. Find an exchange with which you are comfortable, sign up and get ready to buy something from that magical Internet money Making crypto yourself is usually very simple. Just look for the crypto you want to buy and then 'buy'switch. For some exchanges you may need to deposit money before buying, and after confirming another purchase, you will ask for money. Cryptos Your account should appear very quickly, because the exchange generates wallet for you, and it is not being sent to anyone else.

To see what you have just bought, you will need to access specific Wallet for that crypto. The pure position on the home page shows you all the crypto shown. Your net position will also change in currency Selected (Default is usually USD). The hard part is that what comes next: When you buy on the exchange, you really do not control the wallet. Crypto has been deposited. You have access to the address, but the wallet is technically controlled by the exchange, so if anything goes You do not necessarily have any support (wrong, they got hacked). It is highly recommended that once your purchase is completed, you send one to your crypto You control the wallet, and do not leave them on the exchange. I recommend starting with a small purchase with your first purchase. Submit anywhere $50 (orIf you make a mistake, then what are you losing!) And use it to start using. Losing 50 Dollar hardly life is in danger. Has been deposited once Confirmed, you can use transaction history to populate your own spreadsheet that monitors your investment. When do you ever know the tax man If you do not declare your investment, then you can knock it, so it is worth being valid and announce it further. So you have it.

Step V: crypto out of an exchange and into a safe wallet

When it comes to protecting your crypto against hackers, then you need to take the first step so that they can be taken from the Exchange to the safe Wallet that you control. As I mentioned before, when your cryptos are on the exchange, you are not completely controlled, and you risk losing. If the exchange gets hacked. This happened when $450 million was lost in Mount. Gox Hack in 2014. Essentially stores a wallet The keys that reach your crypto Each address comes with a public and private key. Your public key can be thought of as an email address; this is The address that your crypto is stored. Anyone can see your public key and send crypto in it. Private key is like password Your email account should only be you (required), and only the owner of the key can use the funds at that address. If someone else knows your personal The key, your account can be compromised and you can lose all your money at that address. Public and private keys are stored in crypto wallet, and There are many types of pockets.

The different types of wallets are:

Online wallets, 

such as browser extensions, 

mobile and desktop apps,

Offline wallets such as hardware wallets

Ledger Nano S 

Trezor 

paper storage

Wallet security is incredibly important, and it is advisable to understand the professional and opposition of each type of wallet before choosing one. I will not go In detail on the specifications on each of these wallet types, as we all would be here for 3 hours. However, in short, online pocket To reach easily, but naturally less secure because they are almost always connected to the Internet. The offline vaults are the opposite; They are Hardly ever? If ever? Connected to the Internet, but very easy to use. Painting Welts for major cryptos like btc, ether, ltc Etc. are easy and you will have a lot of options. However, for some of the rest, pockets will be difficult to come, and if you find them, then The user interface is likely to be very disappointing. Do not be disappointed with this. For many of these applications there is a long way to go near the ease of use,And if you're diving into it then you are now part of the initial steps. An important thing to remember about crystals made on ETH The blockchain is that they are able to store on an ether wallet. These tokens are required to meet a specific standard, and are known as ERC 20 tokens,And all are able to store on an ethernet wallet. By controlling your own wallet, you can become in charge of your own crypto. Never appear Private key for any pocket you have, because it is expected to give keys to your stranger to a stranger and hopefully it is still the next day.

Step VI: Use different passwords and enable 2FA on your exchanges, wallets and email address

Do not use the same shirt, 6-letter password you've been using for years, or its diversity. Just because you add an extra At the end, the point does not mean that you have made some extra effort to protect your accounts. Stop lying to yourself. I know that we all have These, but please avoid using any password related to any email, phone or related crypto. You are setting yourself up Hacked Computers are becoming more powerful, and the technology is getting more sophisticated every day, so you really should consider using one Password that will take some time to crack. Remember the days when you were asked to create a 6-8 character password using at least one number And an uppercase letter well guess what? These days, it will take about 2 hours to crack the computer.

Where a random string of characters, or a phrase (which is long, and preferably not personal or in any way linked to you) should be taken Time to crack. You can find websites such as Try some examples to find some gauge on how secure is mypassword.net itself and the type of password you should use. Try and make it even more I diversify from the example above. You can then use Password Manager like LastPass or 1Password which is capable of creating and archiving for a long time, Secure password for all your accounts This decreases the risk of your password, either because of losing or weakening them Password hacked. Highly Recommended. In today's interconnected web, password security is not so easy. It does not matter how unattractive you are It seems that your password is always there other ways that hackers can access your account, mostly through social engineering. This is the two- Factor Authentication two FA comes.

What is 2FA and how does it work?

2FA is an essential extra layer of security at the top of your password. 2FA needs to verify who you are before you log in to your account, By using both password-related password and one time sensitive code. This means that you will be less sensitive for attacks via email Account phishing, and social engineering, because hackers should physically have you, and get this code to log in to your account. In fact, some exchanges force you to set up this feature and you will not otherwise be allowed to remove the crypto from the exchange. Therefore, this decision should be really simple. Download an authentic app and set it to all your accounts. It includes your Exchange accounts, Wellets and Specifically, email addresses that you use for both personal accounts and email accounts associated with your exchanges. note that you should be Use separate email accounts for your crypto and your individual daily accounts, especially social media.Three of the best authenticator apps on 

the market are:

Google Authenticator

Authy

LastPass Authenticator

In addition, you must also activate login notifications for all your exchanges. Each time you log in given it will send you an email Exchange the account on time of using the account. Now you have added another layer of protection to protect your crypto properties and Your personal account hackers will find it very difficult to receive without any exchange, online wallet, email address Direct access to your phone. So the logical next step is to keep your phone safe in the right way? It is impossible and you lose your phone.

Step VII: Lock your phone using pins/fingerprint/face recognition

Many More people have everything on yours phones these days. Let's face it, mobile phones have made life very easy and convenient for most of us. We do not just call phones; We send texts online, go online, make a purchase, send email, take photos, do our banking etc. It is highly likely that yourThere is a ton of personal information in the mobile phone, so it only makes sense to secure it. Imagine that your worst dream has come true and youReally lose your phone. A person can access this personal information and either use it against you or you can clear it. To secure your phone It was never easy, so it is well advised to lock your phone.

It is as easy as assigning a 4-6 digit pin for most phones. Basically, these days, new phones have face recognition software or fingerprint IDs that You can use to lock your phone or a special app, so there really is no excuse. And if you are worried about your thumb being cut so that someone If you can reach your beloved crypto then it is possible that you have made some really bad decisions in your life and are very big Problems dealing with losing your crypto just saying…

In addition above to the you can also do this little extra things to make secure phone and accounts less hackable.

 Must Bluetooth Turn off unless you’re using a bluetooth device.

You’re most vulnerable being hacked by another device with your bluetooth on.

Switch off your personal hotspot.

DO NOT Sign in to any crypto exchange or wallet using a public wifi account.

Step VIII: Your crypto transactions spreadsheet of all

‘The hardest thing do you understand in the world is the income tax’

 

- Albert Einstein

 In this way the government can pay for roads and infrastructure, health care, national defense And education. It is likely that if you are reading this, there is some kind of taxation law in your country and if you are making some kind of life,You are paying it for a while. Money made from trading bittoine or other cryptos is no different. I can not give you a deep overview In fact, how is your country dealing with taxation on profits from crypto, because every country is still trying to understand it. For example, Belarus is not imposing any tax on crypto profits for the next 5 years. If you do cash within one year then Germany applies tax on earnings.Crypto is considered an asset in Australia, which means that it is subject to capital gains tax. China sees cryptoos as securities, and is broken Until the rules are applied, then down on space. And in the US, are crypto? At the time of writing it? Are considered as objects, and are Taxed like this.

So… what to do?

While I am not a financial adviser of any kind, I think it is very sensible to start spreadsheets to record all your purchases and crypto give and take. Not only will it give you good information whether you are investing well or not, but there are tax time on which you have kept  your track Activity It should be done wherever you live, because this place is moving so fast that things can change in months. although, Do not trust these spreadsheets. Like I said, every country treats different crypto, so if you download one, be sure to complete Responsibility They are not certified accounting tools that are guaranteed to be against your country's tax department, but they are a good one The starting point for keeping track of your crypto activities. The best part is that you can chat with an accountant who is familiar with crypto In your country It is likely that it will be difficult to find, because the majority of the world are still incredibly new to crypto, accountants are involved.  Do not be surprised, if you show your crypto spreadsheet in your accountant, then they react like Frodo trying to read the language of the order.

Step IX: Track of your entire crypto portfolio using an app

By now you will see that logging in to Wallet or Exchange is a time consuming process. Logging in to online wallet or exchange You will need a key in your email or username, type the password, confirm the captcha image that it is verified that you are not a computer and then By adding it to your 2 FA code, you can see your crypto. Doing so can cause such pain. But relief is I promise. You can keep track of all your Crypto properties using an app The best thing about it is that it is not associated with any of your public or private key. Downloading apps like block folio Or the coincock can keep track of the properties you can easily access by recording the crypto you bought, recording how much and when it was purchased. Easy to suck to check your crypto benefits every 3 minutes, especially when the market is growing rapidly. However, if you log in then it can be risky In the exchange or wallet where your crypto is stored. Open up yourself to hack, or even leave your account logged in 

Unexpected or unsafe computer By checking your balance on the app tied to your app, you do not get any of these risks, and this is also Generally very easy. They usually have extra features like additional alerts, real time charts, news and analysis. Using an app to keep The track of your crypto is understandable.

Step X: Develop a Strategy

I can not tell you what to do with your crypto. Nobody can do itYou have to decide what to do with it or get some professional financial advice elsewhere. I am not mentioning your friends or familyAre members. I am talking about a real qualified financial advisor who is well-acquainted with crypto investing. If you are not ready to find the right Financial advice and just testing the water, okay. This place is so new that there are some consultants who can give advice With confidence, and if they exist, then they are more than likely to be astronomical. That's why I believe that self-education is the highest Important steps you can take. Unless you collect information from reliable sources, question 

everything, and allow yourself to be.

The question has been asked that you should be prepared to take responsibility for your decisions.You can use two main strategies for crypto investment, broadly, often in business or holding. Trading involves buying and selling cryptoTo take advantage of swing in the market, the course of hours or days. There is a possibility of making big profits through this strategy Cryptos often transfer 20-30% per day. However, it is very difficult to predict market activities, and you are just likely to lose all The more money you want to make. This strategy is essentially gambling, and if you are interested in doing business then make sure you do the same As a research you may possibly do before risking any of your hard earned money. There is a stir on the flip side of the business, which arises from the belief that Crypto's future will have more use and value, so you will catch them with the intention of selling a date in the future Price increased. Hodeling is a long-term game, so do not be surprised if it looks anywhere for 5+ years to see strong profits. If you can not deal with things going south, be sure to exit the exit, because every chance that all the crypto tomorrow can go to zero. It's black and white, however, and you can use a mixture of these two strategies. You can solve yourself in a definite way Part of your property and other business You can choose to stop or swing from one to the other after a while. Just make sure that whatever You decide to do, be responsible for your actions. As I mentioned in the beginning of this article; Only invest that you want to lose. Nobody There is a crystal ball that can predict the future. The truth is that nobody knows what is going to happen in reality. Whatever your tactics are, even ifYour research indicates that this technique has the real qualifications, then sit back, relax and enjoy the ride.