Investing in Crypto

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Begin with the basics

Not your keys, not your crypto is a common phrase in the crypto world. People who are passionate about the mission and vision of the decentralized ecosystem firmly believe in this mantra. Because cryptocurrency is not a physical asset, it must be stored somewhere. Banks have custody of most people's financial assets but custody of digital assets are maintained by the owner in lieu of a central entity in a digital wallet. Think of a wallet in the same way you would think of an account. Security is maintained by public and private keys. The public key is an address that you give others to send you cryptocurrency but the private keys are needed to unlock those assets. Check out how to explain crypto for beginners for an easy to understand overview.


A few terms to know:

Cryptocurrency is encrypted money built on its own blockchain. Take a look at a dollar bill and notice that each bill or note has a serial number associated with it. A cryptocurrency also has a number associated with it that is documented on a blockchain rather than physically printed. Here is a quick video explaining more detail.

Blockchain is a term you will hear frequently when it comes to cryptocurrency and associated projects. Simply put, a blockchain is a transparent, distributed, immutable ledger. Here is a quick video explaining more detail.

Tokens run on various blockchains and function as a utility within a dAPP to incentivize behavior or cover transaction fees. Here is a quick video explaining more detail.

DeFi is short for Decentralized Finance. DeFi is changing the way individuals control and interact with their assets. By removing a central authority (like a bank) people can conduct peer-to-peer transactions in a decentralized and permissionless ecosystem. Here is a quick video explaining more detail.

Both cryptocurrencies (cryptos) and tokens are considered digital assets. There is much more to learn and new information is constantly being introduced. My favorite place for good quality curated information about Blockchain and cryptocurrency is The Krypto Clinic.

Ready to get started?

Coinbase is a US based exchange headquartered in San Francisco that has been around since 2012. The platform has a user friendly interface and easily links to your bank accounts. If you use this link and purchase $100 of crypto then we both receive Bitcoin! Also, here is a good video to learn to make passive income on Coinbase.

Pros:

  • Based in the US and has a customer service number

  • Easy to use platform from app or desktop

  • Digital assets listed must meet an outlined standard

  • Opportunity to earn interest on staked crypto

  • Considered reputable

Cons

  • High transaction fees

  • Limited coin listings

  • Interest rates for holding certain crypto assets are lower than others


Gemini is another US based platform headquartered in New York. The company was founded in 2014 by the Winklevoss twins. The platform is user friendly and easily links to your bank accounts. If you use this link and purchase $100 worth of crypto, we both receive Bitcoin!

Pros:

  • Based in the US and has a customer service number

  • Easy to use platform from app or desktop

  • Digital assets listed must meet an outlined standard

  • Lists some coins unavailable on Coinbase

  • Opportunity to earn interest on staked crypto

  • Considered reputable

Cons

  • Higher fees than some other exchanges

Crypto.com formerly known as Monaco is headquartered in Switzerland and was established in 2016. The interface is more complex than Coinbase and Gemini but not impossible to learn. The company has a partnered with Visa to offer the Crypto.com Visa Debit Card. The debit card earns you cash back in form of CRO token. The amount depends on which card you have (there are tiered options) and the type of purchase you make. Use this link to sign up and get information and we will both be rewarded.

Pros:

  • Visa Debit Card with rewards

  • Opportunity to earn interest on 30+ digital assets

Cons

  • US residents are limited to the app version of the platform and restricted from the web version

  • Limited coin listings

  • Debit Cards require staking CRO tokens (except the lowest tier with the least benefits)

  • Difficult to contact customer service

There are several other exchanges out there but these are the ones I suggest if you are just starting out.


Put your crypto to work!

Don't let your crypto just sit there. Instead, earn interest on your assets. Interest rates are quite generous but don't expect that to last so take advantage now.

Celsius offers attractive interest rates on several crypto assets including Polygon/MATIC (10.51%), Bitcoin/BTC (6.20%); Ethereum/ETH (5.35%) and Celsius offers 8.88% on TrueUSD, Gemini Dollar GUSD, Binance BUSD, Tether and other stablecoins. Interest is paid in the interest-bearing asset which is a great way to passively grow your portfolio. This means the interest on BTC is paid in BTC weekly. Use my referral code and we both get a $50 reward.


Where to learn more

DYOR - Do your own research before investing in a coin or token. Visit the website, research the team, understand the project, read the whitepaper, and look at the price history.

A few sources to follow on YouTube:

  • The Coin Bureau is one of my favorite places to get information on Cryptocurrency and various Blockchain projects. There are also lots of tutorials and reviews of various Decentralized Exchanges or DEXs.

  • Bitboy Crypto is another source to hear about projects but you can also learn how to read charts and understand fundamental analysis.

  • VoskCoin is where you can learn about crypto mining, upcoming airdrops and other crypto news.

A few online news sources:

  • CoinGecko for prices and other helpful analysis information

  • CoinMarketCap also for prices, charts, and helpful analysis information

  • CryptoNews gives you the latest news articles about all things crypto and Blockchain

  • DeFi Pulse is where you can stay current in the world of Decentralized Finance