How To Get Started In Crypto

Introduction

I get these questions a lot – “how do I get started with crypto? Where do I go? What should I do?”.

To answer these questions, we have 6 easy steps to follow that will cover education, the right tools to use, the communities you should join, and lastly, the actions you can take right this second to get started.

Let’s jump in!

Watch Bec explain more

Step 1 - Preparation

Before you start downloading apps, undertake some basic prep.

 

  • Make a folder on your phone and call it ‘Crypto’. This will serve as the home for all of your crypto apps.
  • Set yourself up with a password manager, like Keeper Password Manager, or Last Pass.

 

It’s likely that you’ll also use your desktop to research and transact. To stay organized, bookmark your favorite sites so you can easily access them in the future.

Step 2 - Tools and Apps

The crypto space is still very new, and there’s a lot of innovation happening (new tools being released every year), but here are my top picks.

Both have a phone app and website, and will provide you with comprehensive information about tokens, exchanges, how to earn crypto, and a lot more.

Of course, when Clutch is ready, I'll be recommending this, however, in the interim, some other wallets/exchanges you can use include the following:

Exchanges

  • Coinbase
    • Coinbase offers a mobile app and a web-based exchange.
  • Kraken
    • Kraken offers a mobile app and a web-based exchange.

Wallets

  • Meta Mask
    • Meta Mask offers a mobile app and a web browser extension that allows you to manage your crypto via your web browser.
  • Ledger
    • Ledger is a company that offers hardware wallets, and more recently, an app wallet interface called Ledger Live.

On any of the below apps, you'll find crypto groups thriving. Social media is a great way to learn about the latest developments in the space, find interesting projects/applications to invest in/use, and connect with fellow crypto-enthusiasts.

 

  • Twitter
  • Reddit
  • Discord
  • Telegram

One of the best ways to protect your account is to setup two-factor authentication. Your go to:

 

  • Google Authenticator

NFT Marketplaces are where you can discover, buy, and sell NFT's. The most popular:

 

Ethereum

 

Solana

Step 3 - Following the right people on Twitter

Crypto Twitter is really ‘something else’. You’ll see the good, the bad, and the ugly…

 

To save you some time, I spent my post-Christmas Sunday organizing my Twitter list so you can easily follow great crypto commentators.

 

  1. Go to my handle, @becejones.
  2. Click the ellipsis (…) and select View Lists.
  3. Select ‘Blckchain/Crypt/investing’.
  4. View list members and follow these people.

Step 4 - Communities

I strongly encourage you to join and participate in at least two communities because the crypto industry revolves around these online spaces. They can be great for asking questions, finding interesting investment opportunities, and helping you learn about the latest developments in the industry.  

 

As a starting point, check out our Discord group

 

Here are some other great Discord groups:

 

Step 5 - Understanding the basics

You’ve got everything organized, you know where to go and who to follow…now is where it starts getting fun!

 

Here are some of the basic topics/questions you should start researching and asking people in your communities about.

 

  • What is crypto?
  • What is a blockchain? 
  • What is the difference between tokens and coins? 

 

If you’re a visual/video person, try these:

 

Step 6 - Invest!

Armed with education, community, and the right tools, you are ready to invest. Not sure what to invest in? Perhaps start with a major token like Ethereum, or have some fun and buy an NFT!

 

The sky is the limit.

Key Terms

Blockchain

“Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.”

 

– IBM

Cryptocurrency

“At its core, cryptocurrency is typically decentralized digital money designed to be used over the internet. Bitcoin, which launched in 2008, was the first cryptocurrency, and it remains by far the biggest, most influential, and best-known.”

 

– Coinbase