How to Aquire and save your crypto Safely and easily.
Crypto currency can no longer be ignored guys. We are seeing more and more people using and saving money with crypto currency as the years go by. I know many people who just don't know how to keep it and that's why they are afraid to invest. Some people just are not educated enough in the space to make a sizable investment. Today i'm going to be talking about how to store and keep your cryptocurrency safe. We will also be talking about the benefits of storing crypto online and also cold storage. How to acquire crypto without giving out all your information safeguarding your identity. The last thing i want to talk about is how to spot and stay away from scams.
So many people in the world hesitate to invest into crypto because they don't know enough about it, and they don't know how to keep it safe. The best way to to do this is by using cold storage like KeepKey, Tezor, or ledger. These wallets keep your currency offline and almost 100% safe from hackers and online thieves. I always recommend using a computer you never use online to host these wallets. Only go online when you need to send money and always disconnect once your done sending the transaction. The only other option is keeping your money online in an exchange like Coinbase, Bitstamp, or others. the draw back to that is hackers and online thieves have more access to your wallets. The advantage you have with storing your money on an online exchange is that if you need to sell or exchange into a different currency you can do so quickly and easily. Cold storage wallets can be slower and require extra steps to get the currency to a place where you can sell or exchange it. waiting for verification can take hours and with cold storage you have to go through this multiple times to get anything done.
People always ask me why they have to give out ID's and other sensitive information to exchanges just to buy crypto. Some of the largest exchanges operate here in the U.S, and we have the toughest financial laws in the world. These laws require any money transmitter to acquire information about its clients in order to do business. Basically you have to give all your info to these exchanges because if they don't get it from you they are breaking the law. We are not required to give out our information to buy crypto no law states that. Only if you want to operate as an exchange and do business then you have to collect info and send it to fin-cen. Transactions over 10,000 have to be reported along with all your sensitive information. Since this is not required by all of the states and not all countries have these laws you can acquire crypto without any identification as long as the seller is in a state or country that these laws do not exist. You can find sellers like this on P2P exchanges like Paxful or Local Bitcoins. Again in no way is buying Bitcoin illegal, and you do not have to give out all your info to get it.
Scams are becoming wide spread and harder to find. The best way to stay away from them is to stick with the well known sources. Wallet scams are HUGE, and if you can avoid them by sicking with reputable sites and also doing your research! Initial coin offerings are super risky and the reward is high but is it worth it? More and more "Scam Coins" are popping up and the hope of getting rich or greed is making a lot of people lose money. Never trust sites that don't have an address or more than a email for contact info. Stick with your country when it comes to exchanges and investing its way harder to get your money back from a scam over seas. Stick with the top 10-20 coins as far as investment and you will do well over the next 5 years. The most important thing is google and the crpyto currency community when researching something new. Always make sure you take calculated risks, and that you have enough information before putting your money in.
This information is very important and i hope that it will be useful to people now and in the future. I touched the surface on these subjects, and any questions are welcomed with open arms. Below i'm going to provide a few links to most of the things mentioned above. I will also include Bitcoin charts and a screenshot of the top ten currencies. I hope that you enjoyed reading this as much as i enjoyed writing it. I believe information should be free and education is key to the future of crypto currency. I do not get paid for these posts and i will also provide a Bitcoin wallet address for any donations you would like to provide. Thank you again for reading and don't forget to like us and follow us!
Online Exchanges I Trust: Cold Storage I Trust: P2P Exchanges: