How to invest in Crypto world for beginner

Since crypto currencies is a virtual currencies with blockchain technology behind so most people may wonder how can we make profit from it. First you should know that most of Crypto currencies are coins, tokens and assets. They use different concept to scale like Proof of stake (POS), Proof of work (POW) or hybrid. No matter which algorithm or concept they use, we still can make profit from it in few way including :

1. Mining 

Mining crypto currencies mean that you are willing to share your computing power on network to solve a very complex math and receive back those coin you mine as rewards. Those rewards depend on the amount of powers you offer to the network.  Those coin that use POW concept are mineable but they have supply limit. like Bitcoin, and ethereum, both are POW coins. You can buy Application Specific Integrated Circuit (ASIC) to mine it, for Ethereum it requires GPU power to mine since it is a ASIC resistance coin. In this you are guarantee to receive stable numbers of coin every month if the difficulty of that coin stay still. Final step just sell you coin when the price boom in any exchanger site.

2. Staking  

When talking about staking crypto currencies we refer to those coin that use POS algorithm. Those POS coins do not need any computing power. So you need to buy POS coin first in order to stake. Each POS coins pay you with different interest rate. This kind of system is similar to bank saving account, you put money in and you receive interest so it means when you hold POS coins you receive interest in coins, token or assets. Honestly it does not scale well and you will not make much profit unless invest whole lots of money in but it contributes massively in environment because you do not need electric power.


3. Trading

This would be the simplest way out of the bunch. First rule buy in well-known coin such as Bitcoin, Zcash or Ethereum while the price drop. Second rule hold it as long as you can because crypto world will shine sooner or later. Third rule Sell those coin when the price boom. To do trade you need digital wallet to send or receive coin. most of exchanger site have this feature built-in but keep it mind if it got hacked then you have a big problem so use desktop-wallet or hardware-wallet since they are the safer options. Keep in mind you can trade locally with cash in hand, it is vary from country to country so do more research.

Must READ:   Cryptocurrency Social Media roundup post — December 5th, 2017, 05:00

Disclaimer: I am not an expert in this field. It is just my thought so do it on your own risk. 

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