New to cryptos?
Here are some easy ways to get started in crypto-investing
If you decide to choose and start investing in cryptocurrencies after checking out the previous article, then, this article is for you. Here you will find some useful tips to get you started in crypto investments, and also a glimpse on how does it work. Cryptocurrencies have pretty much been a topic over the last few years, and big companies like Starbucks, PayPal, and recently Tesla announced that it will accept payment in cryptocurrencies. Bitcoin is getting more and more popular these days and the demand for it is high. This also affects Altcoins (Alternative coins other than Bitcoin) to get more popular in the public eye. Some of the reasons why Bitcoin and other cryptocurrencies are becoming more popular is that some like the fact that cryptocurrency removes third parties managing the money supply which saves more time. Others also like the technology behind cryptocurrencies, the blockchain, because it’s a decentralized processing and recording system and can be more secure than traditional payment systems.
Bitcoin has been around for more than a decade and there are multiple ways on how you can get Bitcoin. But this time we’re going to cover the basics and probably the easiest way to invest Bitcoin and other cryptos if you’re new. So let’s get started!
What is cryptocurrency?
A cryptocurrency is a form of digital asset, and the technology behind it is called a blockchain. The advantage of using blockchain technology is its security. Now, more than 6,700 different cryptocurrencies are traded publicly, according to CoinMarketCap.com, a market research website. Unlike the stock market, you can participate in the cryptocurrency market 24 hours a day, 7 days a week. It’s essential before you start investing in a cryptocurrency, you must do a little research about it. No one really knows who created Bitcoin, but the rest of the cryptocurrencies out there normally have a team behind them who guide the company and its blockchain technology. So make sure the cryptocurrency is legit! Another tip is their road map, many crypto companies like NOBI have sections on their websites dedicated to their road maps: where they come from, what they’ve achieved, and what they’re planning to accomplish in the future. You can visit us anytime and feel free to drop us a comment, feedback, and suggestions at roadmap.usenobi.com.
Ways of investing in Bitcoin and other cryptocurrencies
The first way is by trading. Trading is considered one of the easiest ways of investing in Bitcoin for beginners. Due to volatile of its price, you can buy Bitcoin when the price is low, store it for a few days and sell it when the price goes up. Want to take it up a notch? Hold it. (HODL) is slang in the cryptocurrency community for holding the cryptocurrency rather than selling it. A person who does this is known as a Hodler. They buy Bitcoin at one time and then store it for a long period of time, from storing it for several months to years until the Bitcoin price increases rapidly.
2. Cloud Mining
Not everyone can own a big data center, obviously, and that’s why recently a new type of mining started to gain popularity, cloud mining. Cloud mining allows users to buy mining power of the hardware placed in remote data centers. All bitcoin mining is done in the cloud, without any offline hassle, such as electricity, hosting issues, or installation and upkeep trouble. Cloud mining offers a mining system with a low cost of entry, minimal risks, and expenses, it is the opposite to traditional Bitcoin mining that involves procurement, maintenance, and configuration of highly specialized hardware.
For the third way, why not let your crypto asset make money for you? By lending your crypto assets to others. Why would you want to lend your crypto to someone else? Simple, to earn back interest. You will potentially get back more crypto than the amount that you’ve lent out, meaning you’ll be making a profit without needing to do anything for it. And who doesn’t like making a nice passive income? If you’re not much of a risk-taker for price volatilities, lending stablecoins may be a solution. Stablecoins are cryptocurrencies designed to keep the same value as certain real-world assets (most of them are pegged to the US dollar for example). Our new Savings feature provides the best stablecoins in the market such as USDT,USDC, DAI, and powered by the industry’s best DeFi markets; AAVE and Compound. Where you can lend your crypto assets easily, safely, and earn interest!
Last on our list is by an Airdrop. It’s the easiest way to get cryptocurrencies. What is an Airdrop? Simplest answer is free distribution of cryptocurrencies. Airdrop is a form of marketing strategy by distributing free coins or tokens to users. Airdrops are common for new crypto companies that are looking to enter the market and require many users to register and find out about their projects.
Just like any other type of investment, investing in Bitcoin has its own advantages and risks that beginners should understand. So that later you don’t get caught up in mistakes lose a large number of your crypto assets. Learn in detail so that you can execute the right strategy for investing in Bitcoin and other crypto assets that are safe and profitable.