Sirwin
Sirwin

Getting Started in Cryptocurrency


Getting Started With Crypto

 

 

Do you want to earn cryptocurrency and either:

 

  1. Don’t know where to get cryptocurrency
  2. Don’t know how to trade cryptocurrency
  3. Don’t know when to trade cryptocurrency

 

Keep reading then. You may find something here that might benefit your journey.
 
Additionally, this also contains info for tracking cryptocurrency and my recommended trading strategies.
 
Let’s first start off with some disclaimers and risk management. Please read it before continuing.

 

DISCLAIMER!

I AM NOT A FINANCIAL ADVISOR. All OF THE INFORMATION HERE IS ONLY FOR ENTERTAINMENT PURPOSES.

 

 

AFFILIATE DISCLAIMER!

THE ARTICLE CONTAINS LINKS TO EXTERNAL WEBSITES. I DO NOT OWN THOSE WEBSITES. THESE LINKS ARE CALLED “AFFILIATE LINKS.” WE MAY BOTH MUTUALLY BENEFIT FROM YOU USING THE LINKS WITHIN MY ARTICLE. IT WOULD BE MUCH APPRECIATED IF YOU USE MY LINKS IF YOU PLAN ON VISITING ANY OF THE WEBSITES LISTED BELOW.

 

Risk Management:

Trading cryptocurrency can be quite risky since it is a 24/7 market and almost anyone can trade it. Managing your risk properly is going to help you secure profits and take advantage of that volatility. I suggest that you avoid putting everything into one trade. You should take profits as the price moves in your favor and use a stop loss.

 

1. Don’t know where to get cryptocurrency?

  1. Free platforms and Faucets
  2. Buying cryptocurrency
  3. Airdrops
  4. Wallets
  5. Exchanges

 

1 A. Free Platforms

 

The below are ways to passively earn cryptocurrency without the need of your own money or investment. Use the links below to get the bonuses.
Some tokens may not be withdrawn until the promotional period is over.
 

Coinbase

The best and quickest way to earn a good portion of cryptocurrency is through Coinbase earn. You can earn more than $50 in a matter of minutes. It depends on the supplies of the promotions. KYC is required.  Use this link to sign up for additional rewards: Coinbase.

 

StormX

  1. Download the StormX App
  2. Use the referral code 806TYL for additional rewards
  3. Perform tasks at your leisure to earn free crypto

 

Coinddit

Coinddit allows its users to earn BAT and other crypto daily through tasks such as searching or viewing an advertisement.  The tasks are fairly simple and it’s a way to earn crypto for free.

  

Pi Network

  1. Register with the link below and use Wasure as your invitation code
  2. Login daily to mine pi
  3. Add myself and others to your network to mine more pi

Pi is currently not on the market, but it will be in the future. You can sign up by using my username as your invitation code.

Follow this link Pi App and input "Wasure" as your invitation code.

KYC is required is a requirement for this app.

 

Swissborg

  1. Download the community app and use the reference code 3BLJ5QA
  2. Login daily for points and to guess whether BTC will go up or down
  3. Earn bonus CHSB by earning badges.
Completing all badges will award you 250 CHSB tokens. CHSB tokens are over $1 each right now.
I completed them in a few weeks at about 30 seconds per day.
 

 

Publish 0x

Is a platform that allows users to up vote posts for free which awards both the voter and the writer.

 

Numerai

You may be interested in earning, and even staking your Numerai if you have data science skills.

 

MyCoinContainer

This platform allows its users to stake coins with very little effort. Staking coins will passively earn interest.

 

Triip

Travel and get rewarded by uploading your proof of travel on the earn page.
There is also a daily spin
Triip App

 

Blockzone

Sign up and complete the KYC.
Login daily for rewards and keep track of the project page to get airdrops.
The projects on this platform payout airdrops, but regional restrictions may apply.
 

Coinpayu

This is an advertising network based on Bitcoin. Ads make money, and you can too.

 

Dentacoin

Earn dentacoins by taking surveys and use these coins to pay for your dental visits.

 

 

Social Good

Simply use this link to get $50 worth of SG coins. Then gain $50 worth of free SG coins for anyone that uses your link. You can get rewarded with SG coins by shopping through the app and you get SG coins back. You might as well get crypto back if you're going to buy the items anyway.

 

Freebitcoin

BTC faucet, you can roll every hour and play games to build BTC balance.

You can earn free bitcoin from the faucet by the hour. The free bitcoin can be used to bet high or low, or betting events. Following the price of BTC may help you multiply your balance every month. You may also just simply save up until you have 30,000 satoshi to withdraw.

 

ShapeShift

Use this link to sign up on Shapeshift, receieve 10 Fox token, and make a transaction. Hold the tokens in your wallet for USDC drops. Higher volume will increase likelihood of USDC drops being distributed to your wallet

 

Peerbet

Earn Kin by playing sports prediction games with your friends.

 

Callisto Network

This is the primary telegram chat for the Callisto Network. You can get Callisto coins from tips whenever the members choose to offer tips.

 

Gala Games

This platform has a growing gaming library and allows users to use cryptocurrency for in game purchases . There are also methods to earn cryptocurrency as well.

Use the link to sign up or referral code: 605aafee70ae4350df242100

We can share 100 gala if you use the link, but you can also register without the link and buy gala from an exchange instead.

LBRY Credits

Sign up with this link to get free LBRY credits and watch videos everyday or do other tasks to receive daily rewards.

 

1 B. Buying cryptocurrency

 

You can buy cryptocurrency from people or on platforms. Two of the best are below:

 

Paxful

Multiple payment methods to choose from

Fairly safe transactions

 

Local Cryptos

Multiple payment methods

Fairly safe transactions

 

Making the trade:

First: The seller puts the cryptocurrency you wish to purchase on the platform

Second: You make the payment via the appropriate payment method

Third: The payment is verified and the cryptocurrency is released into your wallet

 

 

1 C. Airdrops

 

You may also participate in airdrops. Airdrops may just be for free, as in you do not need to have anything or pay any money. Some airdrops may require that you have a coin. That type of airdrop may be the result of hardfork. Some airdrops may not pay out or may even be a scam. It is almost never okay to send your hard earned cryptocurrency to someone else with the hopes of getting something back in return. I try to participate in legitimate airdrops, but it is difficult.

 

NEVER send any crypto to any airdrop for any reason. You are seeking to receive crypto, not send your own crypto to someone else.

 

Coinmarketcap Airdrops are mostly legitimate. Register and collect diamonds daily that you can use to buy NFT's.

Airdrop Alert has many new airdrops daily.

You can easily find airdrops anywhere. I will repost the airdrop if I participate in them. Here is my twitter

 

It is not a guarantee that all of the airdrops I do are legitimate. It only means I took the time to participate in them. This is worth it. Some airdrops have been easily valued (upon the airdrop) at $100+

 

1D. Wallets

 

Be sure to never share or enter your seed phrase or wallet password on any external site. There is never a reason to do that.

Below is a list of the major wallets you will need to store your cryptocurrency. You may also use offline wallets as well.

Wallets can usually be used for sending, receiving, staking, or swapping cryptocurrency.

Multi-Chain

Token Pocket supports multiple chains. You can create multiple wallets on the same chain.

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ERC20 and multi-chain

Trust Wallet

I recommend Trust Wallet as your ERC20 wallet (on the Ethereum blockchain)

  • ERC-20 Wallet (Ethereum based)
  • Has many tokens - new tokens need to be manually added.
  • Has the ability to exchange token pairs
  • Contains a DApps section for staking, swapping, exchanges, games, and more.

 

Coinbase

Great for the most popular coins.

 

Waves

 

You can use this waves wallet if you need a place to store tokens on the waves blockchain.

 

EOS

 

You can use the Wombat wallet for your EOS and related tokens.

You may play games on Wombat to earn small amounts of crypto that payout regularly.

Use code UGP6GT for a bonus.

 

TRC20

 

Can also use token pocket

 

1E. Exchanges

Several exchanges have ways to earn free crypto as well such as daily login, airdrops, staking, lending, or trading competitions

You do not want to impulsively trade and should trade based on some knowledge of the markets. I get that some people may have absolutely no idea what they are doing which is why you can look below about the sections on how to trade.

It would be better to use an exchange to trade your crypto, although you may also use swaps which are provided by many wallets and platforms. Most exchanges are simple to use and operate in the same way. Check below for a list of exchanges.

 

Godex

Trade on this decentralized exchange without limitations and reduce your trading fee by using the above link.

 

AAX

Use this invitation link to get extra rewards and continuously get rewards by completing signing in, trading, or deposits. This is useful for those that want to trade with bonus funds and negate the possibility of loss during a trade. Check in daily to claim a $2 USD every week and $5 USD futures trading voucher on the 4th week.

 

XT

Use the above link for a hefty trading fee reduction. The futures market is very liquid and offers up to 125x leverage.

 

Xtrend Speed

Gain credit through trades and events to enter risk free trades. Purchase VIP and gain enough points to be offered free weekly credit and use the profit from that credit to pay for monthly VIP.

 

MEXC Global

Use the above link to get rebate on your spot and futures trades.

 

Bithumb Global

There are many alt coins and tokens in the marketplace. Many are listed by the week.

Offers trading competitions

Use the link to enjoy a 10% trading fee rebate on trades.

 Users may also learn about projects and earn rewards.

 

Yobit

There are a lot of mysterious tokens on this exchange. Be sure to know exactly where the token comes from before attempting to trade it. Some tokens have very low liquidity and a high spread. This exchange is good for taking advantage of the free coin section and the high spreads (difference in buy and sell prices).

 

Probit

Probit is a new exchange that has been adding a lot of new coins/tokens that could potentially be winners in the near future. The trading competitions require users to hold 100 PROB tokens. Holding PROB tokens will also lower commission.

 

Bilaxy

Register on this rather exchange to enjoy free airdrops and participate in trading competitions. Bilaxy also has its own exchange token which will reduce fees by 50%.

 

Bitbns

Bitbns offers 50 bns on sign up and has many cryptocurrencies to choose from that are not even available on some of the largest exchanges.

 

STEX

Great for tracking down alt coins that are currently less popular, but may have the potential to be worth something in the future

 

KickEx

KickEx shares 50% of commission generated from trades to its users. The potential is quite large considering how much crypto is traded every day.

 

CEX

Trade on this exchange and participate in the events.

 

Bityard

Complete the basic tasks to get $5 that you can begin trading with

Offers futures trading and daily mining for small rewards (covers trading fees)

 

Take advantage of the demo trading to practice futures trading.

 

Bitfinex

A popular exchange with all of the major cryptocurrencies

 

Bitrue

Has several cryptocurrencies to trade and a large futures market that offers up to 100x leverage on many of the coins.

 

LATOKEN

Join the next financial system now and get $50 credit to pay fees. $50 will go a long way in covering trading fees, because we make smart trades and do not trade on impulse.

You also take advantage of the airdrops, but that depends on the KYC requirements.

 

You may also trade crypto on these platforms that are primarily used to trade stocks.

 

Robinhood

Get a free stock once you link your bank account and then be awarded a free stock (or two if you deposit) with potential to be worth up to $500. The stock can then be sold and the money can be used to buy cryptocurrency. Robinhood also offers interest on cash balances.

 

Webull

Register and free stocks that can be sold and traded for cryptocurrency or other stocks. Deposit $100 to receive the free stocks.

 

2. Don't know how to trade cryptocurrency?

 

Most the exchanges above are user friendly, equipped with tutorials, and offer support for their users. I may post a tutorial on how to open and close a trade in the future if I get enough questions about it.

 

3. Don't know when to trade cryptocurrency?

 

3A. Technical Analysis

Take a moment to study some technical analysis to help put you ahead of the herd. I have won significantly more trades by using technical analysis and making use of trading view.

 

You can register on Trading View where you can see the analyses of others, and perhaps even learn to make your own. The benefits of upgrading to premium include many tools for helping analyze charts as well as alerts and many more features.

 

3B Swing trade

Swing trading cryptocurrency is quite simple. You can use spot trading or margin trading. There are two methods that I recommend you use to win swing trades. The first is to avoid trading very low tier coins with low volume and low market cap unless you have some intuitive ability or special advice that tells you when a coin is going to make a massive advance. Trading the first few hundred of the top market cap coins are probably going to give you the best results. Enter your position when a coin has low price fluctuations or after it has consolidated from already going up. I recommend you avoid buying when a coin has gone up 100% unless you intend to hold for another few months, because otherwise you may lose half of your position.

You can use technical analysis to check the general movement of a coin and then enter on a shadow candle (the tip of the candle is thin, example below. Be sure to take profits along the way just in case your analysis changes.

 

Shadow candle: The tip of the second candle is red and has a small thin line followed by a tall green candle. This will not always work, but it has been useful to me.

Shadow

 

Here is how a swing trade goes:

Buy low, sell high.

Sell some parts of position at price targets. It could be 25% position at +50% profit, another 25% position at +100% profit, and so on. How much you sell at what profit depends on you, and the price targets depend on the analysis.

A swing trade example is provided below in 3F.

 

3C Leveraged Trading

Cryptocurrency can be traded with leverage similar to forex. It requires a margin to avoid liquidation and proper risk management. You can benefit from this type of trade if you are a more experienced trader.

Perpetual  - Trading with the coin to a stable coin to increase the portfolio size of that coin and has no fixed expiration date

Example: holding btc and trading it to the tether

Inverse Perpetual – Trading with a stable coin to any other crypto to increase your portfolio for that stable and has no fixed expiration date

Example: holding Ethereum and trading it to the tether to increase your Ethereum balance

I recommend using less than or equal to 20x leverage on any given trade. The general consensus that I have seen is to risk 2% of the position that you enter with. Risking more is your decision to make. Make sure to keep an eye on your margin when entering the trade. There is absolutely no situation that you can benefit from by opening a position with 100% of your margin for a leveraged trade. That will result in liquidating 100% of your assets immediately if not within a few seconds.

 

3D Staking

Staking is an extremely easy way to earn from just holding your cryptocurrency. The risks are that the cryptocurrency you chose to hold plummets to a value close to 0 cents. It is better to choose coins with better prospects. I recommend flexible or short term staking so that you have the option to close your position as you see necessary. You may avoid this risk by staking stable coins. Several exchanges and wallets above offer staking.

 

3E Coin Tracking Tools

Helpful tools to track cryptocurrency prices:

 

Coinmarketcap

Do tasks to earn diamonds for rewards daily.

 

Coingecko

Also take advantage of Coingecko’s daily point login to get discounts on cryptocurrency related tools or use your points to buy NFTs. I can confirm that this is legitimate since I have already traded my points for NFT's.

 

Livecoinwatch

Great for tracking lower tier coins that may have not made it to Coinmarketcap or Coingecko

 

Market Move

Use this tool if you trade on the BSC network. Audit the coin using their AI software and check for suspicious code or anything you disagree with.

 

 

3F VIP signals

 

 

You may find it beneficial to enlist the services of a signal provider that will tell you when you should enter and exit a trade. You will still have control over your own cryptocurrency unless they offer to trade for you in which case you would have to provide them with your exchange API.

 

I evaluated one signal provider myself and have reported the results below. I looked at a few calls from Paradise Slave and have found all of them to be of great quality.

 

My Crypto Paradise (Use my exclusive code “Wasure” for a 5% discount).

 

I made the assumption that My Crypto Paradise knew how to trade well based on their opening words which you can find below:

Paradise Rules

 

Swing trades are one of the easiest ways to increase your crypto portfolio. The examples below are how you may profit from swing trades.

 

This update was posted on January 22, 2021. The profit and price range on the day of the update was 17% at a price range of 766-825 satoshi (the last 3 decimal values out of 8 compared to the BTC)

Paradise BAT

 

Now looking 3 weeks into the future on February 12, the price range is about 1166-1500 sats.

BAT TV

 

It certainly depends if you chose to trade with margin or contracts, but if you just chose to the most basic method which is spot trading, then this was a fairly easy 2x position trade for any amount of your position that you sold at the top. You can also see that the price retraced before making another high which opened up another swing trade opportunity. Any swing trade that returns 2x or more of your position is a really good swing trade in my opinion.

 

Looking at something more familiar next, the Ethereum swing trade

Paradise ETH

 

The price range on January 16, 2021 is about $1,150-1,300

ETH TV

Fast forward a few weeks to February 20, 2021 which is where the second price target is at and we see the price range on this day is about $1,800-$,2040. This means that you made about 50% profit if you bought mid range in January and locked in your price targets. We still have a couple more price targets ahead of us as well.

 

If you are interested in using My Crypto Paradise as one of your methods to increasing your cryptocurrency portfolio and getting you much closer to retirement, then you may use the link below:

My Crypto Paradise

and apply this exclusive code for a 5% discount on membership  “Wasure”

 

 

You may be interested in trading stocks or forex as well. If that is the case, then have a look at the basics before you start. You can find those here:

 

Stocks

 

Forex

 

Questions or comments? Let me know!

 

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Wasure
Wasure

I am building a website on providing content related to trading and the blockchain. Feel free to follow for updates


Investing in Cryptocurrency, Stocks, and Forex
Investing in Cryptocurrency, Stocks, and Forex

Goals: To provide content about how one can invest in crypto, stocks, and forex. It will be strategies that I have learned over the past few years; as well as reviews on exchanges/wallets or services. Who should follow this? Anyone interested in growing his/her assets through investing. Whether you are starting out with 0 crypto/$ and would like ways to earn free crypto/cash or whether you are starting out with 10 BTC or $10 . There is something for everyone.

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