10 WAYS TO PLAY CRYPTO THAT BEGINNERS NEED TO KNOW
How to play crypto for beginners you need to learn bro, starting from the types of crypto assets to their security.
In recent years, there have been a lot of people talking about investing and learning how to play crypto. This is actually one way to manage finances so that they don't just run out, bro. In addition, for those of you who want to get rich quickly at the age of 25, this is also worth a try. No one knows where your profits will be, right?
One of the rising investment instruments is crypto or cryptocurrency. For those of you who are beginners and interested in investing, Axe will tell you how to play crypto and how to trade crypto for beginners.
What is Crypto?
Cryptocurrency or crypto is a virtual currency designed to work as a medium of exchange that uses cryptography to secure financial transactions. This one currency is starting to circulate and is popular not only in Indonesia, but also abroad.
Crypto assets are also different from conventional currencies. Cryptocurrencies are more decentralized. So, you can say that there is no intermediary in the transaction. What does that mean? Well, it means that the transaction is carried out directly by the 2 parties concerned, namely the sender and the recipient.
How to Play Crypto Most Basic
Once you know the concept, then you can start trying to invest and start how to trade crypto for beginners.
Prepare Only 'Cold Money'
There is hot money and there is cold money. The cold money Axe is referring to is money that you don't use as your main asset in life. It's not money that you'll be using anytime soon. Crypto investment is quite risky and it is not uncommon for many to experience losses. If you are sure you want to try how to trade crypto for beginners, you must be prepared to lose. Therefore, prepare a special budget for this.
Learn the Selected Crypto Asset
How to play crypto is the very first thing you need to do. In essence, you must know and understand what crypto assets are circulating in the market, bro. The names of crypto assets that are well known in the market are Solana, Ethereum, Bitcoin, Shiba Inu, and Dogecoin.
Choose the Right Exchange
As a beginner, you also need to know the right exchange for crypto trading. Well, this can help you make transactions safer bro. Not only that, but choosing the right exchange also determines whether you'll make a profit or a loss! Axe's advice is to choose an exchange by considering the following: security, customer service, and transaction fees. The point is, when choosing the right exchange, you must pay attention that the marketplace you are using has a clear license.
Register and Open an Account
The next thing you need to understand in how to play crypto is registration and opening an account. To get started, you can download crypto apps on the App store or Play store. There are several applications that you can consider, such as Tokocrypto, Indodax, Bybit, or Binance. Make sure you download the official APK so you don't get trapped by fake apps or scams.
Data Verification
When you have successfully registered in the application, you will be directed to verify your data. It doesn't need to be complicated, because now everything is done online. You will be asked to take a photo of your ID card and a selfie while holding your ID card. As long as the data you enter is valid, the process will not take more than 12 hours.
Deposit
Once your account is properly verified, you can move on to the next step. Yes, you need to deposit some funds into the account you opened. The amount varies depending on the marketplace you use. For example, for the Indodax application, you need to deposit approximately 500 thousand Rupiah.
Buy Crypto Assets
You need to be careful for this step. Do your research first before you decide to buy one of the crypto assets in the marketplace. The important point is that the better and more prospective the project, the higher the value of the crypto asset bro!
Save in Crypto Wallet
For those of you who have managed to buy crypto assets, save the proceeds of the purchase in a wallet or digital wallet. This wallet can be managed by yourself or through an exchange. Both options have their own advantages and disadvantages. If you prefer to store in an exchange wallet, this will be more practical. However, the risk of being breached is higher. There have been many instances of crypto being breached or stolen by hackers. If you prefer to store in a private wallet, this option is the safest because its activities are not connected to the internet. The only problem is practicality and you might have to pay extra for transactions.
Don't Hurry to Sell
If you are unlucky, for example when buying crypto assets but the price goes down, don't panic and rush to sell. When the value of your crypto drops, you can