{"id":430,"date":"2021-09-08T10:07:48","date_gmt":"2021-09-08T10:07:48","guid":{"rendered":"https:\/\/digitalcoinprice.com\/blog\/?p=430"},"modified":"2023-03-29T04:39:47","modified_gmt":"2023-03-29T04:39:47","slug":"tips-for-cryptocurrency-beginners","status":"publish","type":"post","link":"https:\/\/digitalcoinprice.com\/blog\/tips-for-cryptocurrency-beginners","title":{"rendered":"Tips For Cryptocurrency Beginners"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-flat ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #223c50;color:#223c50\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #223c50;color:#223c50\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/digitalcoinprice.com\/blog\/tips-for-cryptocurrency-beginners\/#Best_Tips_For_Cryptocurrency_Beginners\" title=\"Best Tips For Cryptocurrency Beginners\">Best Tips For Cryptocurrency Beginners<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/digitalcoinprice.com\/blog\/tips-for-cryptocurrency-beginners\/#Understand_the_Currency_and_Its_Popularity\" title=\"Understand the Currency and Its Popularity\">Understand the Currency and Its Popularity<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/digitalcoinprice.com\/blog\/tips-for-cryptocurrency-beginners\/#Choose_Your_Currency_Wisely\" title=\"Choose Your Currency Wisely\">Choose Your Currency Wisely<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/digitalcoinprice.com\/blog\/tips-for-cryptocurrency-beginners\/#Pick_a_Reliable_Cryptocurrency_Broker\" title=\"Pick a Reliable Cryptocurrency Broker\">Pick a Reliable Cryptocurrency Broker<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/digitalcoinprice.com\/blog\/tips-for-cryptocurrency-beginners\/#Be_Safe\" title=\"Be Safe\">Be Safe<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/digitalcoinprice.com\/blog\/tips-for-cryptocurrency-beginners\/#Vet_Companies_Before_You_Spend\" title=\"Vet Companies Before You Spend\">Vet Companies Before You Spend<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">Cryptocurrency Beginners &#8211; In February 2021, Bitcoin reached a $1tn market value. This boosted the price per coin from just under $54,000 to just over $55,000 and offered yet another milestone in the cryptocurrency\u2019s historic trajectory, which had seen the price grow by 360% in the six months preceding. The digital currency is no stranger to unexpected victories and improbable staying power, and its resiliency has led some to question if jumping into the Bitcoin market is a good idea.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a few things to keep in mind before you make a decision. Here are some tips to keep in mind for cryptocurrency beginners as they look into making some smart investments.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Tips_For_Cryptocurrency_Beginners\"><\/span>Best Tips For Cryptocurrency Beginners<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Understand_the_Currency_and_Its_Popularity\"><\/span>Understand the Currency and Its Popularity<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The first tip might seem simple, but it can be a difficult concept to understand. Digital currency is not a fiat currency (a government-issued currency), but it can be purchased and sold using these more traditional forms of money. Also known as cryptocurrency, the digital currency has been an increasingly popular financial option for the past decade. Much of this initial growth was accomplished by Bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are additional tokens, such as Ethereum, Dogecoin, and Binance Coin. Bitcoin is currently the most popular and valuable of these, but the others are rapidly gaining ground. There are currently around <\/span><a href=\"https:\/\/digitalcoinprice.com\/\"><span style=\"font-weight: 400;\">10,000 types of cryptocurrencies<\/span><\/a><span style=\"font-weight: 400;\"> being publicly traded as of 2021, and the total value of all of them combined was almost $2tn in August 2021.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a few different reasons why cryptocurrency appeals to users. First, it can be purchased and used anonymously. This is a particularly big plus for individuals who would prefer to not have their purchases tracked by traditional financial institutions. However, it does not necessarily mean that the funds are for anything nefarious. As the difficultly of maintaining privacy online increases, it is only natural to desire to maintain it in any way possible. Cryptocurrency can help users achieve this goal.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to the above, cryptocurrency has become a popular investment because it is actively growing. It is not a stagnant form of currency, in other words, but is actively expanding into the mainstream and growing in popularity. This makes it an appealing potential investment to anyone with the desire to be part of the growth as it happens, rather than after it has taken place a few years down the line.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Choose_Your_Currency_Wisely\"><\/span><b>Choose Your Currency Wisely<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The proliferation of cryptocurrency tokens is equal parts enticing and frustrating. The wide variety of choices is appreciated by most investors, but it can also lead new adopters into precarious positions. Bitcoin is the most popular option by far and has monopolized quite a lot of investment dollars. This might make it seem like the obvious choice, but options such as Ethereum are quickly growing and give investors the chance to buy before the price skyrockets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The choice of the token is ultimately up to you. Just make sure that you do some research into the price fluctuations and overall growth trends before you make the decision.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Pick_a_Reliable_Cryptocurrency_Broker\"><\/span><b>Pick a Reliable Cryptocurrency Broker<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While some banks are expanding to include cryptocurrency in their accounts, making it easy to buy and sell using the currency, most of the purchasing takes place using cryptocurrency exchanges and brokers. These include names such as Coinbase and <a href=\"https:\/\/www.cryptoranking.com.au\/binance-vs-coinspot\" target=\"_blank\" rel=\"noopener\">Binance<\/a>, among others. Exchanges make it easy to invest in cryptocurrency, but they can also charge <\/span><span style=\"font-weight: 400;\">hefty exchange fees<\/span><span style=\"font-weight: 400;\"> that will quickly drive up the price of your investment. With this in mind, do some research into the rates related to each exchange along with transaction limits.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It might be worth investing the time into learning some of the more intricate details behind using cryptocurrency brokers and opting for an option with fewer fees even if it means a slightly less user-friendly experience.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Be_Safe\"><\/span><b>Be Safe<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Cryptocurrencies are in their infancy and there are some enterprising cybercriminals taking notice. This can sometimes result in tokens created in bad faith, existing solely to steal money for as long as possible. There are a few things you should do to protect yourself from these individuals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">First, research the company or creator behind the token. Bitcoin, for example, is the largest cryptocurrency in the world and can be traded, purchased and spent using services such as PayPal. Other tokens will have been created more recently and with much less fanfare. This is where it becomes vital to explore the entity behind the cryptocurrency as well as who is funding the new token. If your currency of choice has yet to make it to the mainstream, your chances of being scammed are relatively higher.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is also important to take more common-sense measures against cybercriminals who might attempt to steal more than your money. This includes protecting your network and your personal information whenever you are online. <\/span><span style=\"font-weight: 400;\">Consider a reputable VPN<\/span><span style=\"font-weight: 400;\">, for example, as well as a reliable security suite to keep your computer as safe as possible.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Vet_Companies_Before_You_Spend\"><\/span><b>Vet Companies Before You Spend<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Cryptocurrency has become the payment of choice for a growing number of users. This is especially true in industries where online spending is critical and common, such as online gambling. Before you decide to <\/span><a href=\"https:\/\/www.playcasinos.ca\/payment-methods\/bitcoin-casinos\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">spend your money at an online gaming website<\/span><\/a><span style=\"font-weight: 400;\">, do your research and make sure that you recognize the name and the license holders of the business. This is true for any other business where you are interested in spending your money. Just as you research the tokens you are purchasing, you should know exactly who will be receiving your personal information when you spend them.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><b>Buckle in!\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Cryptocurrency is a quickly changing industry that is regularly seeing volatile shifts in popularity and value. This is not an investment for those without nerves of steel! If you decide to invest, you must be ready to ride out spikes and drops in value \u2013 you are in it for the long haul.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Potential investors might find cryptocurrency to be an appealing option, but there are important steps that you must take in order to make safe, smart choices.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency Beginners &#8211; In February 2021, Bitcoin reached a $1tn market value. This boosted the price per coin from just under $54,000 to just over $55,000 and offered yet another milestone in the cryptocurrency\u2019s historic trajectory, which had seen the price grow by 360% in the six months preceding. The digital currency is no stranger [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":431,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis"],"_links":{"self":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/comments?post=430"}],"version-history":[{"count":8,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/430\/revisions"}],"predecessor-version":[{"id":2319,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/430\/revisions\/2319"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media\/431"}],"wp:attachment":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media?parent=430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/categories?post=430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/tags?post=430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}