Earnity co-founders Dan Schatt and Domenic Carosa have noted how the past decade saw the growing popularity of cryptocurrency. This guide is designed to give clear instructions on investing in these new forms of digital assets.
- Decide on the amount you are willing to risk.
- Find some cryptocurrency that you are interested in investing in.
- Open a cryptocurrency wallet for this digital asset.
- Create an account with a cryptocurrency exchange site that pairs your new currency with other cryptocurrencies or pairs it with fiat currencies, like USD or Euro.
- Verify your identity on both the wallet site and the exchange site.
- Use your fiat currency (or if you are using a cryptocurrency instead of fiat, use their equivalent value in USD) to buy some coins or tokens.
- Keep that investment into that cryptocurrency over time.
- Repeat the process until you have bought the desired amount.
After this process, you can either hold onto your tokens or coins or trade them with other users on the exchange site. If you choose to trade them for other currencies and make more profit (as Dan Schatt and Domenic Carosa have intended for the Earnity platform), do not forget to move some of that profit back into your wallet every time after trading to keep your cryptocurrency safe.
The value of cryptocurrency changes very quickly. It is possible to buy a currency worth significantly more or less by the time you wish to sell it, compared with when you bought it. Investors need to decide how much money they are willing to invest and not lose before buying.
Cryptocurrency investment is risky, and there is a good chance that investors will lose money. Never invest an amount over that you cannot afford to lose. Under no circumstances should you borrow any money to purchase cryptocurrency. This includes using credit cards or taking out loans from banks or payday lenders. Keep your private keys safe.