Hello guys,
I am new to the crypto industry. I would like to invest in some crypto projects. But not sure which would be best for me to start.
Please guide me. Thanks!
I cannot offer any guidance, as I am not a financial advisor. But if you like crypto and just want to hold some in general. Depending where you are located, you could check out ABRA Wallet. They have their own coin that is what they call somewhat of an index fund that represents the top 10 Crypto’s by Market cap. So, basically you hold an investment in what represents the top 85% of Crypto market cap. So, something like this might be a good place to start, then if you wanted to hold a specific coin for whatever reason, you can just swap the index coin for any of the supported coins on the wallet. Just an idea, cheers, and have fun.
I could care less what you do in the end, I am not shilling any products or services, but just mentioned this, because it is targeted at being very user friendly for the ‘anybody’. Else, if you want to get more technical, maybe look up MEW, and start collecting some erc tokens, but this can be a little intimidating for your first wallet, but you learn alot by playing with My Ether Wallet, just make sure you go to the legit site, there are scams. So do your research, and have fun.
YC
Your first stp is to decide how to purchase the crypto, be that by registering with a FIAT/Crypto pairing exchange, over the counter (OTC), from a friend, etc.
Your next step is to research the cyrpto that you are interested in so that you can decide if it is indeed a worthy investment or not.
You then need to decide what wallet to have, be that a web wallet (MEW for example), a desktop wallet (Jaxx for example), a mobile wallet (Ethos for example), a hardware wallet (Trezor for example) or leave it on your exchanges wallet (not recommended if you wish to HODL - keep instead of trading further).
Finally, you need to ensure that you do not spend what you cannot afford to lose as the crypto market is highly volatile.
Thanks for your important feedback!!!