How to get started with cryptocurrencies

To start with cryptocurrency, you’ll need hump to choose a broker or crypto exchange. An exchange is an online platform where you can trade cryptocurrencies. Brokers use interfaces that interact with exchanges.

An exchange allows you to trade without a third party. Should you decide to use an exchange, you’ll need to find buyers for your cryptocurrency. A broker can do that for you. Here are the steps to start trading cryptocurrencies.

1. Create and fund your account.
   When you’ve selected a broker or exchange, the next step is to open an account. You’ll want to keep a form of identification nearby since some platforms require it. Once you verify your identity, you can fund your account. Depending on your funding method, you may need to wait a few days for it to clear into your crypto account.
2. Buy crypto.
   You can make your first cryptocurrency purchase when your account is set up and verified. You’ll find many options. You can purchase as much or as little as you’d like. When you’ve selected the one you want to start with, you’ll need to enter the ticker symbol and the amount you wish to purchase. Some of the more traded cryptocurrencies and their symbols are:

Bitcoin (BTC)

Ethereum (ETH)

Dogecoin (DOGE)

Tether (USDT)

USD Coin (USDC)

Uniswap (UNI)

3. Select a storage method.
   Most often, you’ll store cryptocurrency in a crypto wallet. When you purchase from a broker, you might not have an option regarding how you store your crypto. However, you can choose between a hot or cold wallet when purchasing through an exchange.

Hot wallets
A hot wallet is a crypto wallet that offers online storage that you can access from a computer, phone, or tablet. A hot wallet has a security risk because it’s stored on the internet and is more susceptible to cyber-attacks.

Cold wallets
A cold wallet doesn’t connect to the internet. You can store your cryptocurrency in an external drive, such as a USB device. You’ll receive a keycode to keep in a safe place. Should you lose the keycode, you may lose access to your crypto wallet and cryptocurrency.