Cryptocurrency is digital money. That means there’s no physical coin or bill — it’s all online. You can transfer cryptocurrency to someone online without a go-between, like a bank. Bitcoin and Ether are well-known cryptocurrencies, but new cryptocurrencies continue to be created.
A Bitcoin/cryptocurrency wallet is the first step to using Bitcoin or crypto. A “wallet” is basically the equivalent of a bank account. It allows you to receive bitcoins and other coins, store them, and then send them to others.
A crypto or Bitcoin wallet is simply an app, website, or device that manages private keys for you. Simply put there are wallets for holding your everyday spending money (hot wallets) and there are wallets for your long term savings (hardware wallets).
There are even several types of both hot and hardware wallets. A hardware wallet is a physical electronic device, built for the sole purpose of securing crypto coins. Hot wallets are wallets that run on internet connected devices like a computer, mobile phone, or tablet.
You can buy crypto from Exchanges, My favourite is Coinbase but there are many others, make sure you buy from a reputable one One big issue that comes up with buying from these exchanges is the account verification process, some nationalities are not allowed to open with them so make sure your nationality is accepted before trying to open an account.
I buy crypto using etoro, and if you want to support me please use my referral link to signup with them. ( Signup with Etoro** )(Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.). My strategy with crypto is that I only invest the money that I will not need in the short term so invest only that amount which you wont need in a few years. A rule of thumb would be to invest and forget about it.
*None of this is meant to be considered as investment advice, as I am not a financial expert and am only sharing my experience with stock investing. The information is taken from the official etoro pages and other sources. The video and articles are accurate as of the posting date but may not be accurate in the future .
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.