Last Updated on August 21, 2024
For beginners, the term crypto is often looked at with confusion. This relatively new, yet volatile investment option has seen widespread adoption during the past five years. Crypto has witnessed substantial growth since its inception, albeit punctuated by periods of considerable fluctuation. While seasoned traders have long engaged in trade activities within the crypto market, newcomers may wonder how to get started on their journey in this dynamic realm.
New crypto users frequently harbour doubts regarding various aspects of digital asset usage. These uncertainties may pertain to security concerns regarding how they’re stored, the volatility of crypto markets, and the complex entities known as exchanges. Moreover, novice participants may express concerns regarding the legality and regulatory framework surrounding digital assets, and the potential risks inherent in investing within this evolving financial domain.
Engaging in educational resources and seeking assistance from experienced traders can further enhance the understanding and confidence of users in navigating the crypto landscape. They can also try some of the things mentioned below to get the taste of what cryptocurrencies can actually do.
Receiving money for working with international clients
Are you a freelancer or entrepreneur working with clients across the globe? Crypto offers a convenient and a cheap solution for receiving payments from international clients. Here’s how it works:
Low transaction fees
Conventional approaches to receiving payments from abroad frequently entail substantial transaction fees and prolonged processing durations. In contrast, cryptocurrency transactions offer swift execution and minimal fees, optimising earnings.
No currency conversion hassle
It can be a nuisance when you have to deal with various currencies. With crypto, there is no need for converting the currency as payments are received from a single, global source.
Protection against inflation
Many Nigerians have turned to digital assets such as Bitcoin (BTC) or Tether (USDT), which has become a popular store of value in the country as it protects wealth against the ever-depreciating Naira. With their portfolios diversified through cryptocurrency investments, personal savings can be protected from inflationary forces. For those based in Nigeria, the emergence of Tether (USDT) trading pairs with the Nigerian Naira (NGN) opens the door to participation in the cryptocurrency market more easily. This allows users to trade USDT, a stablecoin pegged to the US dollar, directly against NGN.
Secure and transparent
Crypto transactions are recorded on a decentralized ledger known as the blockchain. This technology uses cryptography to create a foolproof ledger that is not susceptible to hacking.
Want to maximize your earnings even further? Consider participating in Earn programs to receive a regular passive income with your crypto assets while they’re not in use.
Personal transfers between countries
Need to send money to relatives working abroad or support loved ones in another country? Crypto offers a fast and convenient solution for personal transfers between countries. Here’s why:
Instantaneous transfers
Traditional methods of sending money overseas can take days to process. On the other hand, crypto transactions can be completed in a matter of minutes, offering your loved ones access to funds quickly when they need them most.
No intermediary fees
Sending money through banks or remittance services often incurs hefty fees. Crypto transactions eliminate the need for intermediaries, reducing costs and ensuring that funds reach the receiver without unnecessary fees.
Global accessibility
Crypto knows no borders, allowing you to send money to virtually any country in the world with ease. Whether your loved ones are in Europe, Asia, or Africa, crypto provides a seamless way to transfer funds across borders.
Ready to get started? Then create an account on a reliable crypto exchange and start exploring the world of digital assets today!
Purchasing inexpensive new coins
Looking to dip your toes into crypto investing? Investing in inexpensive, newly launched coins can be an exciting opportunity for beginners. Here’s what you need to know:
Potential for high returns
Investing in newly launched coins carries the potential for significant returns, as their value may skyrocket during the early stages of their release.
Diversification
Investing in a variety of coins can help diversify your investment portfolio and minimize risks. Consider spreading your investment across multiple coins to mitigate potential losses.
Earn passive income
In addition to investing in new coins, consider exploring Earn programs offered by various platforms. These programs allow you to put your crypto to work and generate passive income. Typically, you’ll deposit your crypto assets into the program for a set period. In return, you can earn rewards in the form of interest, additional cryptocurrency tokens, or a combination of both. The amount of rewards you earn often depends on factors such as:
- Amount of crypto deposited. The more crypto you commit to the program, the higher the potential return.
- Program duration. Locking your crypto for a longer period often generates better returns.
- Program type. Different Earn programs offer varying rewards structures. Some may offer fixed interest rates, while others provide rewards in the form of the platform’s native token or additional tokens of the deposited cryptocurrency.
- Additional opportunities. Keep updated with various promos run by crypto exchanges as some of them can offer up to 1,000% APY on crypto assets with a one-day Earn subscription or higher rates, all thanks to holding a certain amount of crypto exchange tokens in your balance.
So what are you waiting for? Start your crypto journey today and unlock the potential for financial freedom and independence!
Disclaimer. As with any investment, especially in the volatile crypto market, caution is advised. The value of cryptocurrencies can fluctuate widely, and it is important to invest only what you can afford to lose. Remember, investing in cryptocurrency is not without risk, and it is crucial to conduct thorough research and consider your financial situation before committing to any investment.
