Every time we use a credit or debit card and not cash, the banking system uses a string of numbers to secure and complete the transactions and crypto is not any different.
If you have ever used a credit or debit card for financial transactions, and nowadays everyone has one, then how is that any different from using cryptocurrencies which as any central banking system needs to have a strong cryptographic system to secure transactions?
I will be sharing with you how people start investing in the crypto market and how they make money out of it.
Please be advised there are thousands of cryptocurrencies and many platforms on which to invest, so you need to choose carefully to make sure you use reliable platforms.
Among many, few of the best Apps and websites which personally I found to be the best user-friendly, fast and easiest so far are Etoro, Binance, Coinbase etc.
The number one is Etoro https://www.etoro.com/ .
You can do everything from your smarthphone:
1. eToro is really user friendly and pretty straightforward to use, besides investing in crypto you can also invest in the share market.
All you need to do is to create an account on their platform https://www.etoro.com/ and follow the instructions; as easy as creating a facebook profile.
Once there you can can check the options available choose to add any market for example in your case cryptocurrencies like Ethereum, Bitcoin, XRP, Neo etc, and you can add into your dashboard whichever currencies you believe is the best.
Once you have done so you can monitor when the crypto goes up and down and if you decide to invest just add your bank account, put the minimum amount required usually between $25-$200 like the example in the page above.
You just leave the money you invested in there, the market will keep going up or down and when the profit section becomes green than you can start thinking about taking the profit.
So let’s say you invest in XRP which its current value is $0.31 per unit, and you decide to buy 500 units in which case your investment would be of approximately $155.00 .
As the market keeps fluctuating what you have invested can go either up or down so you will need to make sure to invest not more than the amount you can afford to lose and you will have the option to click on stop loss and however you cannot lose more than the equity in your account.
So how do people make money out of it? Let’s say you have now 500 unites after investing $155.00, you can invest less or you can invest more, if the price rises like it did in January 2018 at $3.00 per unit then you have made $1,500 and if it raises, as Bitcoin did, in the next few years? Well, do the maths on how much your units will be worth.
You could be the next George Soros!
Downloading the Apps is the best option if you are busy and you want to monitor whenever you wish and wherever you are the market.
If you would like to know more and if the topic helped you to understand how to start investing in cryptocurrencies then feel free to share your views in the comment section and to subscribe .