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Beginner's Guide into the World of Crypto Currency Part 1

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For those who wish to enter the world of Crypto Currency, whether it is for the sake of investment, trading or just to experience this new trend which keeps blowing up everywhere you see, then this is a very concise and well organized guide to make you go through the things you need to know, understand and learn before you move on to the next step, since, I myself wasted countless hours on useless bits of information before I was finally able to narrow down things to a few essential basic resources that were necessary and then also some more advanced ones.

Alright, so first things first, what is the hype around Crypto Currency when apparently most people thought it died down in 2017 and was just a speculative bubble. Well, it never really stopped being a thing, just the big crash that accompanied all the Crypto Assets made people believe that this was just a bubble. However, people who understood what Crypto Currencies represent and how they can change the entire way the normal transaction systems work along with their potential to integrate into every aspect and sector of life and provide functional utilities to advance everything in the world to the next level, never really stopped accumulating Crypto Assets, mainly Bitcoin along with Ethereum, and neither did the developers stopped working on the development and improvement of many Coins which are currently in the top of the list.

Now this is meant for beginners to cut down time and go through the real valuable information before starting everything else.

I am not going to explain the basics of Crypto Currencies and what they are because that's something you need to learn by yourself.

Hence the first thing I would recommend is that beginners go through Binance Academy and go through the basics of everything since I believe that it's the easiest and shortest way to understand the basics and comprehend the underlying technology along with learning about the trading aspects from strategies to basically everything in a very easy to understand format.

There are many other resources as well, however I believe if you go through the beginning guide by using Binance Academy, you will be pretty much done with almost everything.

However I recommend using that directly through a web browser and not download the App since it is in proper step by step order on the website.

https://coinmarketcal.com/en/

I have no affiliatiation with binance but I must mention that going through and learning everything there is in this guide, since this alone is more than enough. I started trading and started making around 500 to 600 dollars by just doing spot trading when I learned everything in this guide.

Understanding and going through this first step is essential. If you don't know what you are getting into then you will simply end up having a bad experience.

Once you are done with this, you should possess the knowledge that is required for whether you wish to trade or simply invest.

The next step is to choose an Exchang that you will use to buy,sell, trade and all those fun things.

Coinbase is a good exchange for people who are new and wish to Hodl or spot trade, however for regular traders it's quite expensive in terms of fees. Binance is a great Exchange for beginners and advanced traders but I would suggest to go through all the exchanges that are supported in your Country and decide which one works best for you.

Also make sure to set up a separate wallet in case you ever need to take out your Crypto assets from an exchange due to some reason as a precaution, but be sure to never forget or lose your seed phrase for the wallet.

I personally used Coinbase in the beginning but but now I have shifted to Binance, Kucoin and some other exchanges since it's better that your assets are not all present in one Exchange.

If you successfully completed Binance Academy then you should be aware of how to buy, sell and trade. I would suggest only spot trading at first and not to go into Margin or Futures trading until you have mastered Technical Analysis and Fundamental Analysis, along with every other factor that you need to know about since Crypto is not traded simply like stocks, at times, TA and FA fail, the news and social media manipulates you and what not, so better learn everything before starting that.

After you set up your account and go through th verification, you should study about all the altcoins and learn everything about them, know when major upgrades are going to take place so you can buy cheap beforehand and sell High.

A great website for upcoming events is:

https://coinmarketcal.com/en/

This will serve as a great tool to plan ahead and know about major events related to all the Crypto Currencies.

This is especially useful for spot traders.

I wanted to keep this concise so I will end this article here and continue in the next part.

But one very important piece of advise,

Never be impatient when it comes to Crypto,

Don't be hasty, and take your time setting everything up.

Also, make sure that whatever asset you buy, you don't spend everything on a single Currency.

Try to invest in different Currencies and make sure that you always save some amount of stablecoin in reserve, whether it is USDT, USDC OR BUSD Etc since sometimes you might get an opportunity to buy something extremely cheap which will turn out to be very lucrative in the future.

This was just Part 1, I will provide more resources and information in the next parts.

And for those who are scared of investing in Crypto Currencies, Crypto is here to stay.

It will take some time for it to become completely adopted just like any other normal thing but its not going anywhere.

See you guys in Part 2.

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