Your Nana can get Bitcoin. It’s as simple as 1, 2, 3.Author: Samantha Standish | The Capital | June 2021
1. Download the wallet
To own cryptocurrency, you need a wallet. A wallet is a piece of software that allows you to interact with cryptocurrency blockchains such as Bitcoin (and many others). The software can be downloaded to a computer or mobile phone.
So far, the best learner wallet is ExodusIt is free, and they have a lot of teaching materials to teach you basic knowledge such as “seed words”. In addition, you can hold multiple cryptocurrencies.
2. Buy or get cryptocurrency
You can do this through a reputable cryptocurrency exchange (such as Coinbase or Gemini) or through a reputable application (such as Paypal or Cash apps).
The main thing to remember is that when you buy cryptocurrency, you don’t actually own Cryptocurrency. Owning cryptocurrency means you can control Private key The cryptocurrency can be moved.This is the reason for it Cryptocurrency. For this, you need your own wallet. Otherwise, their so-called cryptocurrency is just a reading on a digital screen, and we already have this type of currency in the current financial system. Cryptocurrency is different.
So, to be clear, you must transfer your purchases to your own private wallet so that you can truly my own Cryptocurrency. If you leave it in your Paypal or Cash application, or put it on an exchange like Coinbase or Gemini, you sign a custody agreement with them, which is essentially a contract for them to deliver cryptocurrency according to the terms of the agreement . Once you transfer it from the exchange or app to your wallet, you have the cryptocurrency.
Buying cryptocurrency is not the only way to obtain cryptocurrency.You can sell goods or services for cryptocurrency, or you can ask your employer to pay you in cryptocurrency, or you can use a faucet to get some (some cryptocurrencies give away a small amount of currency to teach people how to use their blockchain— —They) recall Faucet).
3. Only play games you are willing to lose
To become an actual investor in the cryptocurrency market requires a lot of research because there are many risks. But nothing prevents anyone from using coffee money to play wallets and learn the basics. Even your Nana can do it.