How To Invest In Cryptocurrency 2023 [For Beginners]
Are you looking for the Best way to invest in Cryptocurrency 2023 and How to invest in Cryptocurrency 2023? You’re in the right place.
If you’re a beginner in crypto or you’re planning to venture into cryptocurrency in 2023, then this guide is specially made for you.
Here on this page, I will show you How to invest in Cryptocurrency for Beginners.
Over the years, Cryptocurrency has been making waves ranging from the likes of Bitcoins, Ethereum, Blockchain, DApps, Defi, NFT’s, Web 3.0 etc.
The crypto space is a vast world that requires a lot of knowledge and experience to tread in.
It has been in existence for more than ten years. To date, it is fact that many are still oblivious of its concept and scope.
Its system of operation is beyond just gambling speculations or Ponzi. It rather requires careful study, analysis, and patience.
In as much as there are opportunities in this space, it must also be spoken aloud that there are misfortunes.
Nevertheless, these truths should not shy or scare away newbies who want to venture in.
Learning How to invest in cryptocurrency as a beginner is the best thing that can happen to you.
As a beginner, you first need to know about the pros and cons in cryptocurrency to avoid loosing your money.
When you invest in cryptocurrency without proper financial planning and fundamental knowledge in crypto, you are doomed.
Yes! Cryptocurrency can “Make” and as well “Destroy” YOU, if you don’t have the basic knowledge and understanding of how it works.
Many individuals who ventured into cryptocurrency get to loose their money and got into loss due to lack of basic knowledge in crypto.
I know You wouldn’t want to loose your money as a beginner but looking forward to make money and improve your finances by trading crypto.
Many people have been asking series of questions regarding cryptocurrencies like,
- Is it Profitable to Invest in Cryptocurrency?
- Best Cryptocurrency to invest in 2023.
- Best long-term investments 2023.
- How to invest in cryptocurrency?
- Best way to invest in cryptocurrency.
All these and many more are questions people do ask about cryptocurrencies, crypto trading and investments.
Today I will show you the Best way to invest in Cryptocurrency 2023 and How To Invest In Cryptocurrency 2023.
I will also show you the list of cryptocurrency terms for beginners and the terminologies.
What is Cryptocurrency?
A cryptocurrency is a digital form of money, i.e. it exists and is handled by only electronic means.
Its technology has eased off the stress of handling notes, delayed transactions, and transaction limits.
It is decentralized, meaning the regulatory body does not regulate any. Therefore, its system cannot be hacked or stopped.
Cryptocurrency came into existence with the introduction of Bitcoin.
Bitcoin popularly known as BTC started in 2009 and had the financial and technology industries considering it first for adoption.
In 2017 it gained prominence, when it hit a price of $19,783 per coin, becoming a largely demanded asset.
So as someone who is just joining the community, it is wise to be fully armed with every knowledge that will be needed, to avoid losses and frustration.
Cryptocurrency Terms for Beginners (Complete List)
Below is the complete list of Cryptocurrency terms for Beginners.
- Altcoin (ALT)
- Bitcoin (BTC)
- Bitcoin Cash
- Cold Wallet/Cold Storage
- Decentralized Finance (DeFi)
- Decentralized Applications (DApps)
- Digital Gold
- Ethereum (Eth)
- Genesis Block
- Hot Wallet
- Initial Coin Offering (ICO)
- Market Capitalization
- Non-fungible Tokens (NFTs)
- Public Key
- Private Key
- Satoshi Nakomoto
- Smart Contract
- Stablecoin or Digital Fiat
- Vitalik Buterin
- Bull market
- Bear market
- Order book
- Bid price
- Ask price
- Spread (or bid-ask spread)
- Buy order / Sell order
- High & low (in a 24 hour trading cycle)
- Day trading
- Cold storage
- Digital signature
- Transaction fee
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How To Invest In Cryptocurrency 2023 (As a Beginner)
The following are the 5 ways to get started in cryptocurrency as an Investor.
- Do your own Research (DYOR).
- Get Information from Reliable Sources.
- Knowing What Coin or Currency to Invest in.
- Get a Crypto wallet and Purchase Currencies.
- Stay and Grow in a Community of Crypto Investors.
Let’s quickly delve into them and discuss more about each of them, read on.
How To Begin As an Investor in Cryptocurrency
1. Do Your Own Research (DYOR)
Projects that begin without proper or any surveys often fall headlong into failure. It is complete foolishness to begin a venture without first learning about it.
Of course, no traveler would just go into a city and start any business without first studying its environment.
In the case of the crypto world, extensive research is needed, due to the dynamic nature of the market.
There can be unforeseen pitfalls that only those with foresight can see and avoid.
As a beginner in crypto, looking for How to Invest in Cryptocurrency 2023, make sure to always do your own research very well.
2. Get Information From Reliable Sources
Information regarding the crypto space is littered in every place you can search from blog posts to news websites, influencers, and even Twitter respected individuals.
Of course, as a novice, it could be difficult to filter the truth from lies. There are a lot of people who see crypto as a short-lived phenomenon.
Even the people who have gained expertise still have disagreements about cryptocurrencies.
However, you can find very reliable information from some websites like CoinMarketCap, CoinDesk, CoinTelegraph, CCN, etc.
Certain Twitter handles are managed by some of these trusted websites and certain individuals who have long-term records of providing vital information.
They include Mike Kayamori, Pete Rizzo, Joseph Young, Nick Szabo, etc.
Other social media platforms which contain credible information include Reddit and YouTube.
Podcasts containing up-to-date and viable information on crypto topics have gained prominence.
Some of them include The Bitcoin Podcast Network, Epicentre, Bad Crypto, etc.
Newsletters have in no doubt been taken active parts in relaying essential and valuable information.
Some of them are Chain Letter, CryptoWeekly, TokenEconomy, etc.
3. Knowing What Currency To Invest In
It is so tempting when one hears a coin has dipped and should be bought immediately, or when it is on a pump and should be bought to make some profit in the short run.
Funnily enough, things do not work that way. Reasons for making investments should be known first and risk management adequately analyzed.
The following ways will help you with knowing what currency to invest in:
a) Past Prices: Usually, crypto markets fall into dips and fluctuations, which make the prices of coins unstable.
The price history of a currency helps to determine its volatility and its strength.
b) Coin Communities: Coin communities reveal the successes of specific currencies and the level of interest people have in them.
It is preferable to check for currencies with large communities and devoted followers.
You can check these communities on places like Reddit and YouTube and see remarks from the communities.
You can also check out their Reddit forums to understand the hypes for different coins to help you decide to invest or not.
In these forums, you will get very acquainted with technical terms and concepts which seem complex.
c) Direction: It is safe and wise to invest in coins with big plans to improve and have a promising future.
Coins with limited quantity in circulation should have correct speculation of when the available amount will be exhausted.
Cryptocurrencies that show bright futures should have a timely release of significant updates.
d) The Crypto Team: This implies doing background research on the team that developed the coin you are studying.
Check out their previous projects, successes, ambitions, remarks, creativity, and experience. Their leadership and control system is of great importance.
e) White Paper: It is a portfolio that tells the aim, quality, integrity, and system of a coin.
It helps you predict what coin will prosper in the long run.
Certain red flags in white papers include wrong spellings, unrealistic promises, poor vision, and lack of ambition.
f) Basic Analysis: Having understood primary concepts from the forums and communities, it will be easy to make foundational analyses about certain coins and investments.
This paves the way for technical analysis. It helps you make the right decisions even when others are chasing shadows.
g) The Coin’s Tech: Coins with outstanding innovations tend to do well on the market because of their edge over competing peers.
An example of this sort is Ethereum, for its involvements in smart contracts and other accessibilities.
h) Coin Prominence: Coins with low respect are danger zones for investment, as they cannot be trusted to yield good results.
4. Get a Crypto Wallet and Purchase Currencies
Crypto wallets are software applications where you can store your cryptocurrencies, assets and coins like Bitcoin, Ethereum, Smart Chain etc.
You can purchase a currency directly from your bank account, peer-to-peer, through a crypto exchange, or a cryptocurrency broker.
A crypto exchange is where traders trade cryptocurrencies. Some of them include Coinbase, Binance, and Gemini.
When starting out as an Investor in Cryptocurrency or Looking for How To Invest in Cryptocurrency 2023, you will need to get a crypto wallet.
Wallets like Trust Wallet, Binance, Roqqu, Hotbit, Blockchain etc. can be used to store your coins and cryptos.
5. Stay and Grow in a Community of Crypto Investors
Association improves mastery and experience. Ensure to engulf yourself in a space filled with individuals who have mastered crypto trading and investments.
Network and learn from their experiences and allow them to mentor and guide you. It is a patient and thorough process.
At this stage, crypto trading and technical analysis becomes easy to understand.
Ensure not to gamble and keep your feelings and sentiments in check. As a beginner, go majorly for low-cost coins to avoid huge losses.
Trade with an expectation of volatility. Be vigilant and pay attention to liquid currencies.
Now you have a piece of first-hand information and a guide on how to kickstart your journey into the world of cryptocurrency.
Take advantage of this guide and learn How to Invest in Cryptocurrency 2023 and how to trade crypto anytime any day.
If you have friends and acquaintances who would want to explore the world of cryptocurrency, do well to share this article with them to help them make better decisions.
While investing in crypto trading, you can as well learn and start gift card trading, maybe as a side hustle to earn more income.
You can make money to even invest more, to get started with gift card trading all you need is a gift card exchange platform like ApexPay for you to trade your cards for cash.
Apexpay Nigeria is a trading platform established in 2018 where you can sell your gift cards for instant Naira.
Apexpay.org is the best gift card exchange platform in Nigeria to redeem and trade your giftcards at the highest possible rates.
On ApexPay You can sell, trade and redeem the following Gift Cards within 2 Minutes:
- Sell iTunes gift card for Naira
- convert Amazon gift cards to cash
- convert footlocker gift card
- sell $100 apple ecode for naira
- sell $50 Nordstrom gift cards
- sell $100 Visa gift card for Naira
- sell $25 Google play for cash
- sell $200 Google Play for Naira
- sell $100 Walmart Visa gift card
- sell $500 Walmart Visa gift card
- convert $20 steam gift card to naira
- exchange $100 Google play for naira
- sell $200 google play card in naira
- sell Google play gift card at high rate.
How To Sell Gift Card on Apexpay.org
Trading gift cards on Apexpay is the simplest way to sell anything gift card online.
All you have to do is to simply visit the website, click on get started and then sell your gift cards.
To sell your gift card on Apexpay platform either on (website or app);
- Quickly download our App or visit Apexpay.org.
- On the home page, click on Get Started.
- Register, setup your Account and Login.
- Locate and click on Sell Gift Card.
- Select or Search for your Kind of Gift Card.
- Choose your Card Category and enter Amount.
- Upload Photo image of your Card and Submit.
- Wait 2-5 minutes for it to be Confirmed.
- Your Cash will be credited into your Account Wallet.
- Click on Withdraw to enter your Bank Account Details and Withdraw.