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5 Steps to Start with Cryptocurrencies

Do you want to kickstart your cryptocurrency journey? Our “5 Steps to Start” guide benefits everybody who wants to get into cryptocurrencies and beyond. These five steps serve as a baseline and provide you with a set of tools next to a proper set-up. We start with a new browser experience before touching on cryptocurrency exchanges and wallets.

Take back control with Brave browser, it offers you a completely new browsing experience and does not track you online. Basic Attention Token (BAT) project, led by Brendan Eich (creator of JavaScript and co-founder of Mozilla), is an open-source, decentralized Ethereum-based digital advertising project. Earn rewards and support content creators through Brave Rewards and give publishers back their fair share of internet revenue. The mission of the BAT team is to fix the broken state of the current digital advertising space in which users are unknowingly tracked and publishers are having trouble monetizing content.

Step 1

Brave Browser

Take back control with Brave browser, it offers you a completely new browsing experience and does not track you online. Basic Attention Token (BAT) project, led by Brendan Eich (creator of JavaScript and co-founder of Mozilla), is an open-source, decentralized Ethereum-based digital advertising project. Earn rewards and support content creators through Brave Rewards and give publishers back their fair share of internet revenue. The mission of the BAT team is to fix the broken state of the current digital advertising space in which users are unknowingly tracked and publishers are having trouble monetizing content. 

Desktop Wallets​
Step 2

Coinbase Broker Exchange

Buy Bitcoin with fiat currencies (€,$). Buy and sell the most well-known cryptocurrencies such as Bitcoin and Ethereum, by merely registering at Coinbase. Link your bank account and make a deposit.

Coinbase offers multiple web wallets in which you can store and hold your coins. From here, you can send and receive payments, deposit and withdraw (cash-out) to your bank account. Coinbase is a centralised exchange and charges relatively high fees. It does not provide all cryptocurrency trading pairs and therefore you must also register at a trading exchange (step 3) which offers more altcoin trading pairs than broker exchanges. When signing up with Coinbase using our affiliate link you receive $10 worth of Bitcoin (BTC).

Wallets
Step 3

Binance Trading Exchange

Trade crypto for crypto. Binance is one of the biggest centralised exchanges with high trade volume and an incredible amount of token listings. So, it offers many quality coins, has a very active and involved community and provides many tools for trading. They also devote a considerable sum of their budget to marketing and promotions; hence, it’s not surprising that it’s one of the largest and fastest-growing exchanges with great potential for the future. Still, this is a centralised trading exchange and therefore not suited to store the majority of your assets.

Wallets
Step 4

Hardware Wallets

The Ledger hardware wallet makes it possible to easily transact while also keeping your money offline. Moreover, it away from the imminent dangers lurking in the cryptocurrency space. Hardware wallets differ from software wallets in that they store a user’s private keys on a hardware device like a USB. Although hardware wallets make transactions online, the coins are stored offline, which delivers increased security. So, users plug in their device to any internet-enabled computer or device, enter a pin, get access and send and receive cryptocurrencies.

Read more about hardware wallets.

Wallets
Step 5a

Desktop Wallets

Manage your Bitcoin, Ethereum, Brave, Dash and over 300 tokens with the Atomic wallet. You can also buy crypto coins directly with a credit card. Desktop wallets are downloaded and installed on a PC or laptop. Moreover, they are only accessible from the single computer on which they have been downloaded. Desktop wallets offer one of the highest levels of security. However, if your computer is hacked or gets a virus, there is the possibility that it is compromised. Use Promo Code 145NHR to receive five free Atomic Wallet Coins (AWC).

Desktop Wallets​
Step 5b

Mobile Wallets

Finally, it is recommended that you also have at least one safe and secure mobile wallet. So, with the Ethos Universal Wallet, you are in control of your funds. It also offers state of the art security, is blazing fast. So, you can store a lot of different cryptocurrencies and track and manage your portfolio. They also provide a built-in community rating system.

Desktop Wallets​

More Posts

Top Crypto Hardware Wallets 2020

Hardware wallets are not a new phenomenon in the tech industry. However, in the world of cryptocurrency, we consider hardware wallets to be amongst the most-secure cold storage solutions hand down. There is no doubt that hardware wallet growth has massively benefited from the rapid expansion of the crypto and blockchain spheres. Various hardware wallet manufacturers have been working overtime in the past years to create viable products to keep up with demand. As more people start to realise the potential of cryptocurrencies and proceed with buying their first crypto, they are also going to want to keep their crypto safe. Are you looking for a reliable hardware wallet for your crypto coins? Check out this comprehensive review for the best hardware wallets on the market today.

Become Your Own Central Bank

When you own cryptocurrencies, you store your assets in such a way that only you can access them, you have full control at any time, without counterparty risk. Banks usually keep a fraction of what is on their balance sheets as a reserve due to their business model of providing loans. Put plainly; banks can provide loans while maintaining very few funds on their balance sheet. This system is widely known as fractional reserve banking.

Not Your Keys; Not Your Crypto!

Centralized exchanges do not provide you with your private keys. Instead, they let you log-in with a well known username-password combination. Not owning your private keys implies that you do not truly own your assets. Instead, the exchanges are the “custodian” of your assets, and they hold your funds. Hardware wallets enable you to store your holdings while owning your private keys. This way, you can access your funds by yourself without the need of third parties.

4th, 3rd, 2nd, 1st – [R]evolution

The first wave of digitisation brought us the internet of information. The second wave is bringing us – amongst other things – the internet of value. The internet of value is characterised by an additional layer (protocol) which enables nearly free and instant transfer of value.