Beginner's Guide to Cryptocurrency

Ritu13

If you want to get a share in the hot cryptocurrency market, the first step is to understand the investment process, as shown in the figure above. This is a complete investment process that can be summarized as [Select Coin] - [Choose Exchange] - [Register] - [Verify] - [Deposit] - [Purchase].

Selecting a coin marks the beginning of the investment. As the saying goes, a good start is half the battle, and there are already a variety of products for us to choose from.

I. Select Coin: Brief Introduction to Mainstream Cryptocurrencies

Similar to fiat currencies (such as the Chinese yuan), each digital currency has a code. Currently, there are more than 800 digital currencies, with some still in the process of being issued. Beginners are advised not to look at so many different types of digital currencies.

Note: In the cryptocurrency circle, the customary abbreviation for a country's fiat currency is "fiat."

After choosing a specific cryptocurrency, extensive and detailed research needs to be conducted on that cryptocurrency.

II. Market Watch
Investing in digital currencies, like other financial products, requires attention to market trends.

Check the best websites for market capitalization rankings, total trading volume of circulating digital currencies, and market value. One highly recommended site is added to the bookmarks.

1. 2.ai: Although the user experience is average, it is the best for checking market trends domestically. The chat room inside is interesting, similar to stock market chat rooms, with complainants and "analysts" chatting.

2. BBEX: bbex.io, about to launch market trends, currently has a coin exchange tool, and you can look forward to it.

III. Exchange Operation

Most exchanges require identity verification. The requirements for each exchange may vary slightly, but generally, you need to provide both sides of your ID card along with a photo of you holding the ID card. Recharge does not support online payment tools like Alipay and WeChat; you need to use online banking to recharge.

Therefore, to trade, you need to prepare identity verification information and online banking. It's also better to have a VPN that can access blocked websites since many foreign exchanges use Google's recognition program, which requires a VPN to access.

Yamini003

This is also something to take a look at and understand.

Ritu77

The beginner's guide is worth exploring.

Samiksha

Recommendations are a must in the world of cryptocurrency; they are indispensable.