References are made wherever possible. All statements are based on the author’s experiences with our readers. That said, no one except you can take responsibility for your Cryptocurrency investing decisions, so you think it through before venturing and starting your journey in the cryptocurrency industry.
We know that cryptocurrency is the latest buzz in town and everyone wants to have a piece of the cake, and one might get lost on where to start, what are the useful keywords to look up and keep in mind? This cryptocurrency guide is written so in about 20-25 minutes you would have a brief sense on what to expect of your upcoming crypto journey, and how best to start this journey. Enjoy it because it might just be the most exhilarating ride of your life.
THE ABSOLUTE BEGINNER’S GUIDE TO CRYPTOCURRENCY INVESTING
RISE OF CRYPTOCURRENCY As the world keeps becoming a global village so as the acceptance of crypto as a legitimate store of value follows and it boomed in 2017,
Bitcoin which reached an all time high of over 19000$ in January, Ethereum also followed by reaching all time high of over $1400 etc started to get the public attention and people who where once skeptical about Bitcoin and the technology behind it are slowly understanding and getting increasingly involved with crypto. As of the time of this writing the writing the market capitalization of the cryptocurrency is over 220 billion dollars and reach an all time high of over 800 biilion dollars in January 2018, You can check coinmarketcap to have more information, what would it be 5 years from now?
Current Makeup of the Cryptocurrency Space
You would have heard of bitcoin and the ‘altcoins.’ How the name convention started was because back in the days of 2011 forks of bitcoin appeared in the markets , the forks or clones , each aspiring to serve a niche area, aiming to be “better” than bitcoin, since then over 2000 crypto have emerged as of the time of this writing was done according to coinmarketcap, eroding away bitcoin’s crypto market cap dominance. These altcoins are gaining market share at an alarming speed.
Cryptocurrency, Stocks and Fiat.
The currency (ie dollar, pounds, naira etc) we know are called Fiat according to the cryptocurrency community. Although having currency at the back of it’s name, Cryotocurrency share the same similarities with stocks than currency, when you purchase some cryptocurrency, you are in fact buying some tech stock, a part of the blockchain and a piece of the network.
The most common place where you can buy and trade cryptocurrency is on the exchanges. EXCHANGES are places where you can buy and sell your crypto using your fiat currency ie(US dollar, pounds, Yuan and naira etc)
There are mutliple measures to judge the reliability and quality of an exchange such as liquidity, fees, purchase and withdrawal limits, trading volume, security and user friendliness. Out of all this Tehlex is the leading and user friendly User interface and 100% secured for YOU.
After Setting up an account on tehlex your’e 5 steps away from making your crypto purchase
- Access the buy/sell bitcoin tab in your dashboard
- Select payment method
- Enter the desired amount in dollars
- Click to Buy Bitcoin Instantly.
- View your credited bitcoins your dashboard
When you get acquainted with buying crypto and start to itch for some crypto trading(e.g BTC/ETH) our Advanced trading Zone is coming SOON!!! Think of Tehlex as a place to buy, sell and store your crypto conveniently.
Exchanges have Inbuilt Online wallet to keep the crypto you purchased safe, if you do not wish to use Tehlex in built wallet which offers free Transfers, you have the option to withdraw to another wallet which attracts a withdrawal fee.
A wallet is just like your bank account, for example if you open a bank account, they will give you an account number, but with tehlex you can receive crypto with your email address.
Take Note: Send a tiny amount for testing before sending the bulk crypto out of your tehlex wallet, lest an Error occured and the amount is lost forever, a small withdrawal fee will be charged.