Cryptocurrency is highly being invested in by the public worldwide. Even though these are highly volatile, people are still gravitating towards them due to their increasing value, security and the ability to change the world. So, if you are a beginner and are planning to invest in cryptocurrencies, here are some tips to get you started and find the best exchanges available. In this article, you will also find other different ways to earn bitcoins to make more profit out of your money. So keep reading and plan an excellent investment for yourself!
Before you begin to invest in cryptocurrency, you need to make sure that you choose the best ones that will give you the best returns on your money. Here are some essential steps you need to follow in choosing and investing in the best ones.
Look for additional features
When choosing a cryptocurrency exchange for beginners, it’s essential to look for features that make it easy for beginners to trade. The best ones should provide helpful guides, video tutorials, and an online onboarding tour. They should also support deposits in fiat currency and a fiat gateway. Furthermore, a good beginner exchange will also temporarily offer custodial services for storing crypto. These services are a great way to learn more about cryptocurrency trading and gain confidence.
Should be beginner-friendly
Choosing the best exchange is crucial when getting started in the cryptocurrency world. Using a beginner-friendly cryptocurrency exchange can avoid losing money and keep up with the newest trends. Coinbase is one of the most popular exchanges for beginners, with many cryptocurrencies supported and no monthly fees. The interface of this exchange is user-friendly, and it accepts credit and debit cards. The platform also offers a powerful trading platform, Coinbase Pro, for a more advanced trading session.
Check if the exchange is secure enough
There are various exchanges for cryptocurrencies, and each has different features. Usually, there is a small membership fee, but it can be as high as $10 for a beginner. You should also consider the security of the exchange. Some exchanges have experienced hacks in the past, like the infamous Mt Gox exchange, and this continues to affect people. Whether you’re a beginner or an experienced trader, you should know the risks and security associated with any exchange.
The final step is to verify your identity. Most exchanges will ask for government-issued IDs, which you can verify with a mobile number and an email address. Some even require a digital copy of your passport. The exchange must verify your identity before you can trade. The verification process helps the exchanges protect themselves from fraudulent traders and reduces your risk of getting ripped off.
Ways to earn bitcoins
Even after knowing about the cryptocurrency exchanges, if you are not very comfortable investing your money in cryptos, you can use other ways to earn bitcoins. Here are some of them to help you out:
Performing tasks and participating in activities
If you want to earn Bitcoin without mining, there are other ways for beginners to start earning right away. Some websites pay in Bitcoin for performing simple tasks like filling out surveys. Others offer rewards for reading cryptocurrency news or writing articles.
There are various opportunities available, so there are no excuses not to get started today. However, many beginners may be hesitant to use such programs because they’re unsure whether they’re ready to invest in cryptocurrencies.
Passive bitcoin mining and playing games
Another option is passive Bitcoin mining. Passive Bitcoin mining involves leaving a tab open on your computer and watching the cryptocurrency being mined. This method is particularly popular with beginners because it requires little attention.
Aside from passive Bitcoin mining, other ways to earn bitcoins for beginners include taking part in free contests and playing mobile games. Some free games may even require you to watch advertisements and complete other actions to earn bitcoin. Some websites allow you to gamble on Bitcoin and earn cash in return.
Micro-jobs are another great way to earn bitcoins. You just have to complete simple tasks, and once you reach a certain income level, you can increase your earnings through investments and trading. You can also become an affiliate and promote cryptocurrency companies to earn a commission. The money you earn will depend on how much money you can bring in and the number of followers you generate.
Affiliate marketing is another way to earn bitcoins for beginners. Using a social media account can promote a brand and invite more customers. Every time a customer purchases a product using the link you provided, you’ll receive a small amount in bitcoins. The rewards vary from one merchant to another. BIA-BlockFi is an example of an affiliate program. By signing up for one of these, you’ll be able to start earning bitcoins right away.