Cryptocurrency: The Beginner’s Guide Edition

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Welcome to this post about Cryptocurrency: The Beginner’s Guide Edition via Afrokonnect.

We’ve all been at the start point of our journey and whether you’re looking for the NBA expert picks or simply looking to sharpen your skills, you’ll always need a guide to help you. Come with us as we look at how you can get started with cryptocurrency today.

What is cryptocurrency? How does it work?

Cryptocurrency, also called crypto, is a digital currency that people can use similarly to all fiat currencies. When we think of cryptocurrency, we need to consider how we use our daily money to make payments and receive money.

This is done through a crypto exchange. Think of a crypto exchange the same way you do as a bank. Crypto exchanges offer people the chance to make transactions. People using crypto exchanges can do things such as trade crypto, exchange digital assets and even turn crypto into a fiat currency or vice versa.

What is blockchain?

Once the network processes and approves a transaction, a receipt is generated. The receipt or block is then added to the chain, and thus, we create a blockchain.

How to start with cryptocurrency

Now that we have a basic understanding of cryptocurrency, we can move on to how you get started with cryptocurrency. Come with us as we take a look at the different things you can do to get started with crypto.

Start by doing your research

When starting with anything, especially when that thing is money related, you’ll want to look into doing a large amount of research. This is so that you understand what’s truly happening, the jargon used, and why things happen the way they do. Doing some research could also include reading books that are cryptocurrency related. There are various crypto gurus who have written books to help you get started with your cryptocurrency journey. Some have also gone as far as creating courses you can learn from.

Try to get a mentor

Find someone to mentor you through the process of getting started and continue to mentor you through the beginning stages of your journey. By finding a mentor, you’ll find someone that can guide you and offer you the advice you need to move forward.

Always remember that some mentors will ask for a fee that can be charged hourly. Each mentor will charge you differently depending on your needs and how they can be of assistance to you.

Find the right platform for you

When interested in cryptocurrency, you’ll need to look at a few online platforms. To conduct cryptocurrency transactions, you’ll need to find the right crypto exchange platform for you. When looking for a new platform, you’ll want to have a list of things you need or want.

Some online platforms will allow you to subscribe to certain things, such as weekly newsletters that provide information to help you. Some may even give you signals that help you make a profit; however, not all signals will be accurate.

Join a community

At times, we tend to underestimate the power of finding a community with similar interests; however, having a community is the key to success. When thinking of making any moves, you’ll want to join a community of like-minded individuals.

Joining an online platform can you assist you greatly, especially when you have questions or need recommendations. Online platforms such as Facebook, Instagram, and YouTube work well to create a community of people who can assist you in need. It’s also important to remember that the owners of the pages often put up updates happening within the cryptocurrency community which can be highly effective when you are looking to keep up with certain things.