How I Got Started Investing In Cryptocurrency
Hi Friends, welcome back!
I have been interested in crypto since the market boom in 2017. However, the barrier to entry was always just beyond my reach. In the beginning I only knew about one coin, Bitcoin. It is the coin that everyone knew about because the Winklevoss twins were heavy backers and it has received pretty much all the media coverage.The problem with investing in Bitcoin is that it was and still is very expensive.
For those of you that aren’t aware there are two ways to acquire Bitcoin. The first is by purchasing the coin on an exchange, at this time 1 coin costs about $9,200 USD, and the second way is through a process called mining. Mining Bitcoin involves purchasing very powerful computer equipment, connecting it to the network and helping keep the a ledger and verifying transactions made on the network for which you are awarded in coins. Both options require a great deal of capital and aren’t really good options for young or inexperienced investors.
Today, there are thousands of different coins that serve hundreds of purposes available for investing in. You may have heard of some of them like Ethereum or Litecoin, but others like XRP and OXT you probably haven't. These other cryptos are like Bitcoin in that many can be mined, purchased on exchanges, and are built on the blockchain, but they all also have some fundamental differences. Bitcoin is used primarily as a consumer currency meant for the use of purchasing goods and services. XRP is a currency created by a company named Ripple and its purpose is to facilitate extremely fast international currency transfers that are very low cost.
I own a very small amount of various crypto currencies. I’m definitely not the Scrooge McDuck of the crypto market but at least I’m in the game, and I got in through a website called Coinbase.
Coinbase is a cryptocurrency exchange that allows you to buy and sell many different crypto coins. Additionally, they offer a knowledge base on the site dedicated to learning about what these currencies are designed to do, how they differentiate themselves from one another, and how they may become relevant to every day personal and commercial use. Currently their knowledge base is offering rewards for learning about different currencies through and earn and learn program. So far I’ve earned about 30% of my crypto investment through this program, much of which I’ve already cashed out for some very real USD.
If learning more about crypto currency is something you're interested in and you like free money, use my referral links listed below to take advantage of the opportunity that Coinbase has made available. Also, it will give me a few more free crypto coins for myself.
My Coinbase referral links: