GETTING STARTED

Getting involved with cryptocurrencies can be an exciting, yet daunting adventure. We are going to lay out some of the essential things to help get you started.

Firstly, while investing and trading in crypto can be immensely profitable, there are zero guarantees. It is not a short-cut to wealth, it requires work, wisdom and patience.

Don’t invest what you can afford to lose. Whatever amount of money you’re putting in, you’ll have to be willing (and able) to lose, should things go south.

There is a saying in crypto “Not your keys, Not your coins” and that’s the difference between custodial and non-custodial wallets and how much control you have over your coins.

There are various crypto wallet types which can be divided into three groups: software, hardware, and paper wallets. Depending on their working mechanisms, they may also be referred to as hot or cold wallets.

The majority of crypto wallet providers are based on software, which makes their use more convenient than hardware wallets. However, hardware wallets tend to be the most secure alternative. Paper wallets, on the other hand, consist of a “wallet” printed out on a piece of paper, but their use is now deemed as obsolete and unreliable.. 

The easiest way to understand blockchain is to think of it as a fully transparent and continuously updated record of the exchange of information through a system which nobody fully owns.

This makes it decentralized and extremely difficult for anyone to single-handedly hack or corrupt the system, pretty much guaranteeing full validity and trust in each exchange of information.