How to Start with Cryptocurrency
Take a closer look and learn how to get started with cryptocurrency. Read our guide for everything you need to know.
So you are now facing the biggest milestone in your life; The day you decided to get involved in cryptocurrency. (Congratulations by the way!)
There’s no going back from here, so let’s make sure you do it right!
Your first plan of action would be to school yourself up on the 3 most popular coins that people buy and why, so you can learn more about your investment options and where you’re putting your money. You can find our brief rundown on the 3 largest cryptos here.
Now that you’re schooled up on the top 3 coins, let’s go over the following steps together to make sure you are 100% set from this day forward. ⚡
- How to set up a bitcoin / cryptocurrency wallet.
- How to back your wallet up safely.
- How to micro-track your profits/losses.
- How to blow your mates’ minds.
How to Generate a Cryptocurrency Wallet
Your first plan of action is to get yourself a crypto wallet, which is what you could call your ‘crypto bank account‘. A crypto wallet is a digital account that you store your crypto in. Crypto wallets typically come in the form of an app on your phone or a program on your computer.
There are plenty of types of wallets, ranging from safe to bulletproof, and you can learn more about these here, but today I will show you what works best for most customers of ours.
Download Exodus. Exodus is one of the most popular wallets on the market, and not just because it’s multicurrency, but also because it’s easy to use, aesthetically pleasing, and well known to be super safe if treated correctly. You can get Exodus on your PC or mobile, and it’s compatible Windows, Mac OS, and Linux, IOS and Android. Click this link to head to the Exodus website: https://www.exodus.io/download/ (It’s Free!)
How to Back Up your Wallet Safely
Now that you have downloaded and launched Exodus, You will want to send some crypto to it.
You can buy crypto in NZ safely and easily at the best rates in NZ through Easy Crypto NZ, but if you don’t know what to buy yet – you can click here to find our simple rundown on the three most popular cryptocurrencies that people buy.
The reason that I’ve told you to buy some crypto first before backing up your wallet is that you are required to have funds in your wallet before you back it up.
This is just the way that Exodus works, but this can be one dollar or one million. You can either buy some through us or have a mate send it to you, but if you don’t want to do either of those just yet, flick us an email and we can help by sending you a tiny amount of crypto to get you kick-started.
Once your wallet has received some funds, a red exclamation mark will start flashing over ‘Backup’, so click it and follow the instructions provided, as seen below. Your Backup will consist of:
-You will be able to set yourself a password
-You will receive a phrase of 12 random words. Make sure to write these down in order and store them safely, and not on your PC.
How to Track your Crypto
As shown in the image under step 1, Exodus tracks your profits, and a whole lot of other information for you too.
Unless you’re a Cyborg, you won’t have access to your wallet all the time, so if you are wanting to track your profits on the go your gonna need something else.
For a start, if you are wanting to track market trends, pricing and rankings, you will want to bookmark the Easy Crypto Rates page.
Once Bookmarked, you’re going to want to also track your own personal profits, losses and total return. You can all of this and more through the Easy Crypto Portfolio Tracker.
Each order you make through Easy Crypto is automatically added to your tracker, but don’t worry – If you have bought cryptocurrency in the past you can easily add an old trade to your tracker.
Our tracker works with all 2,000+ cryptos listed on Coinmarketcap.com, and our tracker is open to be used by anyone, whether or not they are even a customer.
Now that you’re decked out with crypto gadgets, Its time to hook your mates up with some of their own, or else how are you going to use it as a medium of exchange in your circles?
a) Decide if you want to send it from your computer, or from a wallet on your phone. A phone wallet should be seen as cash, so don’t carry around too much at once. Once you have downloaded a wallet for your phone, send a small amount of crypto to it, so that you can carry some around for the next step. I like to use Bitcoin Cash (BCH) as its almost instant to send, however, there are many other instant currencies as well.
b) Now that you have some crypto in your phone wallet, get your mate to download a phone wallet too.
c) When your mate launches the app, a brand new crypto wallet will be automatically generated for him. Once the wallet is generated, get them to click receive, and a QR code will appear on their screen. Now on your own phone, click the little QR code button, and scan your mate’s phone.
d) You will be asked how much you want to send, and you can send them however much you want, but I usually stick to about a dollar. Once you have inputted the amount, click send, and now sit and wait – Make sure your mate has his volume up too for ultimate satisfaction 😉
e) Bam! Congratulations, you have now learned how to use your crypto, and you’ve also brought your mate into the future of payments with you!
There may be a chance that your mate is going to want to buy some for himself, so you can provide them with an affiliate link from us so that you make a 10% cut of everything we make from him/her for the rest of their life with Easy Crypto!
You can find this by going to My Account > Details > Affiliate Link.
Welcome to the future!
Disclaimer: Please be aware that digital assets, such as cryptocurrencies, tokens, and NFTs, are volatile and largely unregulated assets. It’s important to understand what you will be investing in, before you put your money at risk. If you’d like to learn more about digital assets, head over to our Get Started page, and just start there!