How to Get Cryptocurrency?

 

You’ve heard about cryptocurrencies. Maybe you’ve read some of the guides on this site. You’ve decided to buy some. But how do you do that? This guide will walk you through the process of buying your first crypto.
 

Getting a Wallet

Getting a wallet

Most people use a wallet when they’re planning on carrying around most types of currency. In cryptocurrency, there is less of a choice if you want to buy crypto, you need a cryptocurrency wallet. Unlike your other wallets, cryptocurrency wallets aren’t something that you have to carry around. They’re a program or web service that handles all of your interactions with the blockchain for you.

You’ll have a private and a public key that define your identity on the blockchain. Unsurprisingly, your private key has to be kept private. Anyone who has it can sign transactions on your behalf, meaning that they can send all of your cryptocurrency from your wallet to theirs (and there is not getting it back then). Your public key is your identity on the blockchain. It’s most similar to your email address when using Paypal, anyone with your public key can send you money.  A good wallet program will secure your private key for you, let you easily perform transactions, and make it easy for you to share your public key with others so that they can send you money.

Luckily, cryptocurrency wallets are free and easy to get. Where you go to download one depends on the cryptocurrency that you want to purchase. If you’re planning on investing in Bitcoin, visit https://blockchain.info/wallet/ to sign up for a Bitcoin wallet. Ethereum wallets are available at https://www.myetherwallet.com/. Both systems are designed to be user-friendly, so take a few minutes to familiarize yourself with them before moving to the next step. If you prefer a one-stop shop solution, other wallets exist to allow users to store multiple cryptocurrencies in a single wallet. You can easily find options using Google or your favorite search engine. When looking for a cryptocurrency wallet, the security of your private key and convenience of transactions are the most important things to consider. One option is Binance, which provides support for a wide variety of different cryptocurrencies.

 

Introduction to Coinmama.com

Introductio to Coinmama

If you’re reading this guide, you’re probably familiar with the concept of a cryptocurrency exchange (since you’re currently on one’s website). But if you’re not, a cryptocurrency exchange is just like any other currency exchange in the world. It accepts payment in your native currency (USD, Euro, etc.) and gives you money in a different currency. The only real difference between a normal currency exchange and a cryptocurrency exchange is that you’re not handed pieces paper or metal when you buy cryptocurrency.

Coinmama is a cryptocurrency exchange that will let you purchase cryptocurrency and send it to the wallet that you set up in the previous step. Coinmama currently supports purchases of several of the top cryptocurrencies on the market. Purchases can be made in packages (with better deals for larger amounts) or for a specific amount of a given cryptocurrency.

Coinmama makes buying cryptocurrency easy by accepting both credit and debit cards. You’ll be asked to set a password to be associated with your account. You’ll also need to have the public key for the wallet that you want the cryptocurrency to be purchased handy.

Once an account is created, it will ask for payment card information and take you through a series of steps to help you select the type and amount of cryptocurrency that you want to purchase. After completing your purchase, Coinmama will send a confirmation link to your email as an added level of verification. Once you’ve confirmed that the address matches that of your cryptocurrency wallet, approve the transaction by clicking the link. And that’s it. You’ve made your first cryptocurrency purchase.

 

ICO Investment

ICO investment

Once you have some cryptocurrency, one question is what should you do with it? If you want to consider the various pros and cons of different investment options, check out the investment section of this guide. However, there is another option beyond just sitting on your coin or selling it for a quick profit. If you’ve read some of the rest of our guide, you might have seen the section on ICOs and the Ethereum platform. In a nutshell, Ethereum is a cryptocurrency that acts as a platform for programs to be written on the blockchain. Some of these programs are new cryptocurrencies that provide different features and services to their users.

In order to raise funding for development of their cryptocurrencies and services, cryptocurrencies commonly hold Initial Currency Offerings (ICO). An ICO is basically a crowdsale where people can trade existing cryptocurrencies (like Ethereum) for tokens on the new blockchain. These tokens can be traded in for access to different services or held to give investors a voice in how the service is developed and run.

If you’ve purchased some Ethereum and hear about a new ICO that you’re interested in, participating in an ICO is extremely easy. Typically, the ICO will publish the public Ethereum address of their ICO fund. To participate, all you need to do is send some Ether to that address and you’ll receive tokens on their platform based on rates published as part of the ICO. Once the platform launches, these tokens can be used to access whatever service they provide or sold at a later date for Ether. By investing in ICOs, you can help to support projects that you’re interested in and get access to their content and services as soon as they launch.