Cryptocurrency is widely gaining acclaim as an asset class that provides with substantial returns. The size of the Bitcoin investor bandwagon is increasing.

Investing in cryptocurrencies starts with the cryptocurrency exchange. The prospecting investor should open a trading account with the exchange. After opening the trading account with the exchange, the investor should transfer fiat to the account.  Some exchanges require KYC, and there are those which do not ask for KYC.  It is good to work with a compliant exchange asking for KYC.

After transferring fiat from your bank account to your crypto trading account, you can decide which token you want to invest in.  However, there might be some verification formalities to ensure bridging between your fiat bank account and the cryptocurrency account with the exchange.

The popular cryptocurrencies which have some reliability records are Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Ripple (XRP), Stellar Lumens (XLM), and stable coins like Tether (USDT).

Cryptocurrency exchanges do not provide you any insurance for hodling your crypto with them. Irrespective of how they claim to be secure, the probabilities of hacks happening are high. Therefore, you need to store the cryptocurrencies that you have purchased in a crypto wallet.

The basics of making money from cryptocurrencies are buying the token at a lower price and selling it higher.  The difference in the price is the profit.  This is quite basic. Trading is not everyone’s cup of tea. So, the basic logic is to sell when the price is more than what you bought it for.  HOLD the token until you get the price you are looking for.

Not all investors are willing to take up the pressure of trading.  Overnight riches, substantial riches, and lucrative options are not reliable promises.  It definitely takes some strategic work to be making it.  There are price dips and price spikes.  Everyone can’t tap into the potential of making profits from the highs and dips.

For those who cannot deal with the trauma of price surges and price dips, there are other ways to make profits in the volatile market.

Prospective investors should get used to:  1. Staking, which can be in a PoW or a PoS. 2.  Yield farming. 3. Play to Earn.  4.

Different blockchains give different returns. If you are fascinated with investment and money-making, this is a new field where you can explore your opportunities. Indeed the cryptocurrency market is a massive ocean, but it will be adventurous if you are willing to train with basic skills.  Anyone who gets used to the basics of the nuances will manage to swim the tide to make profits.