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Beginners’ Guide to Cryptocurrency

There’s a lot of ways to earn money. But did you consider doing Cryptocurrency? We have a lot of investors nowadays that are looking for something that will be worth their while. This beginner's guide will guide us on how, where, and when to invest in Binance.

What is Cryptocurrency?

A cryptocurrency is a form of online or digital currency that you can use to buy stocks from the Stock Market. Other services that accept Cryptocurrency as payment and other investment opportunities online.

As we all know and heard, Bitcoin is the most hype and popular investment opportunity. That is going around for a while now. Just this April of this year, it hit almost $65,000 per crypto! That's all the way up! And how it dramatically went down in May.

Here are some points to know about Cryptocurrency:

How do Cryptocurrencies work?

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Cryptocurrency is a type of online currency commonly used for purchasing, investing, and other services. Like all other forms of payment, you need to purchase crypto using your money. It's like you are converting your current currency to an online currency.

There are a lot of companies nowadays that accept crypto as a form of payment from a client. But don't worry about your transactions because they will always be secured as Cryptocurrency uses a technology called the Blockchain.

Blockchain is referred to as a "digital ledger". The transactions under Blockchain are replicated and disseminated across the whole network of computer systems on the Blockchain. It records information in a complex way. The transactions are untraceable, unchangeable, no way to cheat the system, and impossible to change.

What are the other Cryptocurrencies? How much does this cost?

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There are more than 10,000 different types of Cryptocurrency that are available on the market and trading actively. And Cryptocurrencies continue to grow and increase their funds through Initial Coin Offerings or ICO.

Here is the list of the Top 10 Cryptocurrency Prices by Market Cap by Coin Market Cap. (insert a hyperlink to the website: https://coinmarketcap.com/)

Cryptocurrency Market Capitalization
Bitcoin BTC $611 billion
Ethereum ETH $221 billion
Tether USDT $62 billion
Binance Coin BNB $43 billion
Cardano ADA $40 billion
Dogecoin DOGE $29 billion
XRP $28 billion
USD Coin USDC $25 billion
Polkadot DOT $14 billion
Uniswap UNI $9 billion

*As of June 24, 2021

Are Cryptocurrencies a good investment?

In investment, there are always ups and downs. There are no guarantees either in the business industry. In the Cryptocurrency Industry, you should always expect the unexpected to happen and always set your goal-oriented investment strategy on hand. Also, you need to monitor how your target performs in this type of field. There is no guarantee it will always depend on the Stock Market on how your investments will carry out.

It would also be best to have a backup plan for a fail-safe investment. You can also try to invest in multiple Binance companies to ensure that your investment is at its top performance.

How to purchase Cryptocurrency?

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There are many ways where you can purchase your Cryptocurrency. The easiest way is to set up an Online Payment Platform that supports Binance and includes Cryptocurrency.

To purchase Cryptocurrencies, you'll need an "online wallet" where you can transfer funds from your bank, and then you can convert it to the Cryptocurrency of your chosen platform.

You may want to check our very own OlePlatform! Your protection and convenience is our top priority. We offer ease of purchasing Cryptocurrency. Transfer a fund from your bank, and then we can convert it to your desired crypto such as Bitcoin, Ethereum and many more.

We also have options where you can transfer your money to your preferred bank, Binance groups, or even cash!

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There is a lot to consider when choosing which Binance company you will invest in. You should always consider the points below when choosing your first Cryptocurrency investment:

The first thing to check is who owns the company. If the person is well-known in the Stock Industry, then you are in good hands.

The second will be "Who is investing in this cryptocurrency?". If ever a lot of big names in the financial industry invests in Cryptocurrency you are interested in, that's the case where it is a good sign that they work well.

The third thing to ponder is to know if you are getting stock from the company or just purchasing their crypto as tokens. Knowing the difference will enlighten you if you have a part in their company's earnings or just getting Cryptocurrency for you to use.

Since we are talking about finances here, you need to make sure that your transactions are safe and secured. Do not provide your email containing all of your personal information and other linked personal accounts in that matter.

Even though Cryptocurrencies use Blockchain technology, there would always be risks when you have Cryptocurrency. Make sure that you are careful when using your mobile wallets to avoid an appalling situation.

It may look like this is a lot of work and research to be done, but making sure that your investment will go far and you'll get ahead of others, is just for your safety measures. Good luck with your Cryptocurrency journey!