Do you want to get started and learn everything about Crypto? This Cryptocurrencies guide for beginners will help you learn to invest safely in cryptocurrencies.
So, without further ado, let's get started…
Table of Contents
About the Author
I am George Bitsounis and I have been dealing with Cryptocurrencies since 2014 and in a proper way since 2018.
I remember trying to buy my first Cryptocurrencies and altcoins and how much I was worried the first few times about not making a mistake, and when I made the wrong amount it made me sad.
I was reading on the internet. confusing terms about cryptocurrencies, which were really unknown to me.
However, after several years on the market I managed to be able to invest safely and with a risk tolerance.
However, I want you to learn as much as possible about Cryptocurrencies. from the right sources so as not to fall victim to fraud and lose a lot of money.
Cryptocurrency Basics
This chapter is about teaching you to learn all the basics about cryptocurrencies.
Therefore if you are complete beginners and you don't know "What are Cryptocurrencies"The following articles are a must-read."
Because they will help you understand the basics before we move on to more specialized categories.
Now I have also created an analytical video on YouTube in Greek on the topic, Cryptocurrencies for beginners Learn how to get started Step by Step.
What are Cryptocurrencies? Positive Positive
What are cryptocurrencies, this guide will take you to a detailed post where all your questions about what Cryptocurrencies are will be answered.
In summary, the cryptobodies are digital or virtual currencies that use cryptography for secure transactions. Unlike traditional currencies, cryptocurrencies are not issued by governments or central banks, but operate through decentralized networks, such as the Blockchain.
Step by Step Guide to What is Blockchain (In Simple Words)
A complete lesson in simple words about What is Blockchain? .
You will learn that you are crossing without much terminology about How does Blockchain work?, which is used and its Advantages.
Cryptocurrency Scams (What You Need To Know)
Complete detailed step-by-step guide with examples of scams you should know about in the cryptocurrency market.
It is very important just as we know how to keep the money we have in the bank or at home, so we need to know how to keep online money in Cryptocurrencies.
The most famous scams are the following.
- Social Scams – Sly people pretend to be famous personalities or companies, promoting false investment opportunities.
- Fake Crypto Exchanges & Wallets – Fake exchanges or wallets that steal users' deposited cryptocurrencies.
- Malware & Keyloggers – Malicious software that installed on the computer or mobile phone and steals your wallet credentials.
- Phishing Attacks – Fake emails, messages or websites that try to steal your personal data and seed phrases of your wallets.
How to Choose an Exchange to Buy Cryptocurrencies
When choosing an exchange for a beginner who wants to buy cryptocurrencies, it is very important to choose a platform that is easy enough.
- So that it doesn't make it difficult for you,
- Have all safety protocols.
- But also have enough Cryptocurrencies to buy
One of the best Exchanges after extensive analysis and research we have done, is Bybit exchange it is the best.
You can also see and other exchanges such as
- MEXC – It has several rising Cryptocurrencies (Mexc guide)
- Binance – Also one of the best exchanges (Binance Guide)
- lbank – Has several Small Cap Cryptocurrencies (Lbank Guide)
How to Buy Your First Tether USDT
After you have chosen the exchange you want, it's time to buy your first Cryptocurrencies with usdt.
For those who don't know, what is Tether (USDT) is a token that has a fixed value of $1.
For a detailed presentation of what USDT is and how to buy it you will find it in the article.
How to buy Bitcoin Step by Step
After you have bought your first Tethers you can now buy Bitcoins.
However the way I will show you in this guide works on all Cryptocurrencies if you want to buy something other than Bitcoin.
Useful Platforms for Cryptocurrencies
Being informed in this growing market it's the best you can do.
The websites you should have are:
Twitter – Twitter is one of the best platforms to learn about Cryptocurrencies such as: New, new Cryptocurrencies, Tokens worth investing in and more.
However, you will have to follow some specific people to be able to have this information such as: @ eliz883, @WatcherGuru, @CryptoGodJohn.
Coinmarketcap – CoinMarketCap is the most popular price tracking website for Cryptocurrencies. It offers a range of services, Price tracking, Historical data, updates.
Tradingview – TradingView is a powerful market analysis platform that offers users access to a wealth of tools and data to make informed decisions. investment decisionsWe have also made a detailed guide on how it works and how to do it. Register on TradingView
Reddit – Reddit hosts several popular subreddits, like online communities, dedicated to discussing Cryptocurrencies such as Bitcoin, Ethereum, and new meme coins.
How to Invest in Cryptocurrencies the Right Way
In Cryptocurrencies there are hundreds of strategies.
What you have to do is see what suits you.
I scouted the strategy that won me over was DCA” Dollar-Cost Averaging".
The investment process is as follows, every month you will put money into a cryptocurrency at a random point without caring about its price.
However, after a few years I have changed my strategy a bit and what I have done is to put purchase targets.
Example of DCA
For example, if I want to put money into Bitcoin every month, I won't do it.
I just save the money I would put in and say when my price reaches the target 47159$ for example I will buy all the money I had saved for so many months.
Now if Bitcoin price takes more than 3 months to go to the first target I will break the money I will hold in USDT and buy with a 50% at $47159 and another 50% at the next target $43694.
However the price of Bitcoin for example is stuck at the level 47159$ and next month, since it is a DCA target I will buy again.
The purpose of this strategy is to avoid buying at high prices and to be able to buy Bitcoin or some other cryptocurrency at the right prices.
Be greedy when others are afraid
A huge percentage of the cryptocurrency market will invest when everything has risen above 100% or even 1000% in order to catch the rise.
However, in order to understand how high the psychology of the world is and when we will start to be careful, 3 Indicators will show us.
Fear & Greed Index
The first is the Fear & Greed Index which shows us the greed of the world and the amount of joy there is in the market.
For me, when it is at low levels I make purchases, as long as it goes up especially above 85 I am very careful.
Bitcoin: The Puell Multiple
The Bitcoin Puell Multiple is an indicator used to measure the profitability of Bitcoin miners. Specifically, it is calculated by dividing the daily value (in USD) of Bitcoins produced by miners, by the 365-day moving average of the daily value.
Bitcoin: Price Forecast Tools
That's it Bitcoin Price Forecast Tools Uses a selection of tools blockchain to determine how high or how low Bitcoin could go.
You can see that these tools have been accurate in previous cycles, so the latest data for each of them may give us clues as to how far Bitcoin prices can fall and how high they can go.
Storage of Cryptocurrencies
Storing Cryptocurrencies is a very important category and you need to be very careful where you keep your Cryptocurrencies.
The best option is in a cold wallet like Ledger or Tangen Wallet
However in this article I have the best Cryptocurrency wallets for you.
Thank you for coming this far I hope you found this guide very useful. I await your comments and questions.
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