The first and probably most important stage of this process is to decide whether investing in cryptocurrency is right for you. Just answer the question “Why are you investing? Because it can make you rich?
You also need to understand that investing in cryptocurrency is a major gamble and the market will always have its ups and downs.
Read also 5 Best Cryptocurrency Exchanges
The success of investing in crypto depends on the digital assets you decide to choose.
There are thousands of different cryptocurrencies available today. Some are close variations of Bitcoin – the most recognizable crypto coin, like Bitcoin Cash or Bitcoin Diamond. Others focus on privacy, like Monero and ZCash. Some are named after Greek Gods (Apollo Currency), reptiles (Komodo) or even internet memes (Dogecoin).
All you need is to have selection criteria, for example:
- Popularity. Find out how common cryptocurrency is among users.
- Mobility. Choose a currency that is easy and has high liquidity in terms of the ability to move.
- Security. A good cryptocurrency should be protected from scammers.
When you choose a crypto you want to invest, set up an account on an exchange.
This will allow you to buy cryptocurrencies with fiat currencies.
Here is a list of crypto exchange services you can use in 2019.
With TRASTRA, you can easily make an exchange and convert your cryptocurrency to EUR and back. Click here for more details!
After you have invested in the crypto of your choice and preference, it is important to buy a secure wallet to store them, like the Ledger or Trezor wallet.
These two wallets are known as the safest places to secure your crypto from potential hackers.
Remember to always make sure you only invest an amount you can afford and feel comfortable with.