All you need to get started in crypto: A beginner's guide!

All you need to get started in crypto: A beginner's guide!

By MadMaxx | Psycho Crypto | 5 Mar 2020


For a limited time, get a reward when you download the Trust wallet! You don't need to make any transactions with it, just download and set it up. Do that here and claim your free reward!

So you've decided to take the jump? You've decided to change your crappy, disgusting never appreciating fiat into the future of money?

Well, welcome aboard!

Although you have taken this path, I must warn you that the road won't be easy. Luckily, I'll be here to guide you through it all with this very detailed and in depth guide!

Let's get started.

So I'll outline the steps you'd need to turn that fiat into any cryptocurrency of your choice. Then we'd go on to list the best services for each step, and that's that! I'd also give resources for those who wish to trade cryptocurrencies (or want to learn). 

PROCESSES INVOLVED IN CHANGING YOUR FIAT TO CRYPTO.

  • Send the fiat over to an exchange
  • Buy crypto with the fiat
  • Send the crypto over to a trading exchange(or trade on the exchange you bought from)

So for the first step.

You'd need to send your fiat over to the exchange you wish to buy from. It is very important that the exchange you pick allows fiat deposits, because that's the only way you can get some crypto with money.(you could use P2P, although you'd probably get scammed).

Good exchanges that support fiat deposits include Coinbase and Binance. If these exchanges aren't available in your region, consider Luno, Quidax and Remitano.

I have done extensive research to ensure that all the exchanges I listed here cover all the regions for the world (including Israel) and have a few of at most 5%(some exchanges like CEX charge 7% on purchases)

Next up, you'd need to send your crypto over to an exchange where you can trade. Now, you could trade on any of these exchanges, but they don't have professional tools and all that. Coinbase has GDAX however, but Luno and the others don't have such features.

I'd recommend Finance if you wish to trade your cryptocurrencies with very low fees.

If you'd however like to buy and hold, I'd suggest using a hardware wallet. Look into Trezor or Ledger, as those are the best in the market.

If you don't have Trezor or Ledger money, you could look at KeepKey or YubiKey, although these aren't as well known as Trezor and Ledger.

If you'd rather hold in a mobile wallet, I suggest the Trust wallet. It is very reliable, it gives you your private keys and the aesthetic design is very pleasing to the eye. It also supports a TON of coins. All ERC-20 tokens are supported by the Trust Wallet.

Cureently, they're doing a promotion where of you download using a special link, you'd be rewarded with 100TWT tokens, which can be exchanged for BNB or ETH at the end of the month.

The link to get this freebie is up at the beginning of this post, but incase you missed it, here it is.

Once you have sent your crypto to your own wallet, I bid you welcome to the crypto world!

Now on to those resources I promised. If you want to learn about Technical analysis of crypto and Forex, I suggest visiting Babypips.com. 

They have a very comprehensive and free course on TA that you would benefit from.

Thanks for reading!


MadMaxx
MadMaxx

Shitcoin flipper. Derivatives and options trader. Bitcoin and Ethereum futures and inverse swap contracts. Professional trader. Never financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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