The Basics Of Getting In The Game
In order to take advantage of the cryptocurrency space, you'll need a digital wallet. There are some basic terms and capabilities you'll need to become familiar with so that you can reap the big rewards. The basics follow, but I strongly encourage you to go to "Crypto For Beginners" to delve into a more detailed background and guide to understanding how to operate in this space.
What is a digital wallet?
A digital wallet refers to an electronic device or App that allows an individual to make electronic transactions. This can include purchasing items on-line with a computer or using an app on a smartphone to purchase something at a store. An individual's bank account can also be linked to the digital wallet. Digital wallets are free, but do require a small fee like an ATM fee to load your currency in it.
Now that you understand what a digital wallet is, you need to know what the difference is between a "Hot" wallet and a "Cold" wallet in the cryptocurrency space. Watch this video for an explanation:
Where do I get one?
CashApp provides the easiest avenue for getting a digital hot wallet. BitPay.com also is an option, but the transaction fees are very high. Both platforms allow you to convert your Bitcoin to Fiat Currency like the US Dollar. As far as cold wallets are concerned, Trezor One Black is preferred. Whether you're new to Bitcoin or already a security expert, Trezor Model One is the #1 Bitcoin wallet choice for everybody. - Buy it here
Review the videos below to get your "Free" digital wallet.
Crypto "How To Videos" & Tips
Take time to view the videos to help you either develop or enhance your working knowledge of crypto currencies.
Blockchain.com Tutorial - How To Open A Wallet
OnlineDigs Overview of How To Find & Use A Bitcoin ATM
How To Buy Bitcoin(BTC) With CashApp
Coinomi Wallet First Setup and Basic Usage
How Does Bitcoin Actually Work?
What are Cryptocurrency Exchanges?
Cryptocurrency exchanges are online platforms in which you can exchange one kind of digital asset for another based on the market value of the given assets. The most popular exchanges are currently Binance and GDAX. It is important not to confuse cryptocurrency exchanges for cryptocurrency wallets or wallet brokerages. Cryptocurrency wallets and wallet brokerages generally allow you to buy and sell a small range of popular digital assets (Bitcoin and Ethereum), which you can then send to a different exchange to trade for other digital assets like altcoins. This statement is not entirely exclusive though; most cryptocurrency exchanges will usually limit their users to only trade digital assets for digital assets, but a few allow trades of fiat currencies such as U.S. Dollars for cryptocurrencies. An example of such an exchange is Kraken, which currently accepts funds in the form of USD, JPY, CAD, and GBP, and supports trades with Monero, Ripple, and Litecoin as well as Bitcoin and Ethereum.