Investing in cryptocurrency has been one of the most popular Google search inquiries for a couple of years now. Making good investing results is easy if you make an analysis and follow the instruction. In this article, we will elaborate on what your first steps in investing should be, and what cryptos are perfect for the beginners. Let’s dive in!
Account Creation
The first thing you need to do on the way to becoming a real crypto investor is to open an account. Sign up on the safest crypto exchange, WhiteBIT, by doing the following:
- click “Sign Up” in the top right corner of the platform;
- enter your email and a password in the fields;
- fill the boxes to agree to the WhiteBIT User Agreement and Privacy Policy;
- press the “Continue” button;
- complete CAPTCHA.
- confirm your e-mail by entering the verification code sent to you. That’s it!
Deposit
To begin investing, one needs to have funds on the balance. Let’s see how to make a deposit step-by-step:
- open Total or Main balance. Here, you will see all assets available for depositing;
- find the ticker of the needed currency and click “Deposit” next to it;
- copy the address in the field on the right or write a new one;
- open the wallet you want to deposit from and paste the copied address.
Which Cryptocurrency Should Beginners Choose?
Here is a brief overview of a few digital currencies currently popular among crypto newbies:
- Bitcoin (BTC)
This is the crypto market legend. Although it has some drawbacks, such as low scalability, it is still a brand name in the world of digital currencies, and its impact is comparable to that of the dollar in the national currency world.
- Solana (SOL)
It is Solana’s native and utility token. SOL was built in March 2020 and has strived to become one of the top 10 cryptocurrencies by total market capitalization.
- Polkadot (DOT)
A project provides a framework for merging different blockchains and transferring different data or assets from one blockchain to another.
- Ethereum (ETH)
ETH is the second-largest crypto by market capitalization. Besides, the project provides a platform for building DApps based on smart contracts. 1000+ applications were made on this basis.
- Cardano (ADA)
Operating on the Proof-of-Stake algorithm, ADA is safe for the environment. ADA is consistently ranked among the most successful cryptocurrencies by capitalization.
Pros and Cons of Investing on WhiteBIT
Benefits of trading on WhiteBIT:
- high level of security – 96% of users’ assets are stored in the cold wallets;
- identity verification, two-factor authentication, IP detection, and anti-phishing code;
- margin trading with up to 20x leverage;
- standard trading fees don’t exceed 0.1%;
- free Demo Token for learning how to trade crypto;
- FAQs on the key terms of trading;
- intuitive and convenient user interface;
- 24/7 customer support.
Drawbacks of WhiteBIT:
- You can’t buy or sell crypto for national currency without passing verification.
Wrapping Up
Mastering the crypto world will take some time, so don’t force yourself to become a genius on the first day. As with any other skill, it takes time, practice, and continuous learning to understand how to trade cryptocurrencies most profitably.
