I'd like to start a crypto asset, but I'm not sure how to do it.
I see some scary news, and I need some help on how to get started safely!
This article addresses these concerns.
Overall, crypto assets (virtual currencies) have come down to very affordable prices now, so this is a good time for individuals to buy. (as of December 2022)
If you don't buy now, you may have regrets that you should have bought then.
On the other hand, crypto assets are still in their infancy, and incidents frequently make the news.
I think many of you may be feeling "I'd like to try it, but I'm kind of scared" because of that.
I will explain the steps to safely start investing in crypto assets, including my own experience, to address such concerns and worries.
This document has been translated from the Japanese original for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, the orijinal shall prevail.
Learn the basics of virtual currency
The first step is to learn the basics of virtual currency.
The number of people investing in virtual currencies has been increasing in the last decade.
Therefore, many people have bought into the trend…
I know some people have done well as a result, but that raises the risk.
Here's a question.
Do you know the difference between "crypto assets" and "virtual currency?"
On May 31, 2019, the name was changed from "virtual currency" to "crypto asset" due to a change in national legislation.
It is important to have at least this kind of basic information.
I have written a "Crypto Asset (Virtual Currency) Basics" that summarizes the following information, so please take a look at that as well.
Continuous learning by the book
As for investment knowledge prior to purchase, I think the above article is all you need to know.
If you want to learn a little more in depth, we recommend that you continue to learn from books.
Here are three books that I have read and found easy to understand.
- 改訂版 マンガでわかる最強の仮想通貨入門
- 最新 いまさら聞けないビットコインとブロックチェーン
- これからを稼ごう 仮想通貨と未来のお金の話
All books can be read by beginners and are highly recommended.
The order should be read from the top as per the section number.
Open an account at a secure exchange
Once you understand the basics of crypto assets (virtual currencies), the next step is to open an account.
Since crypto assets (virtual currencies) are purchased on exchanges, opening this account is an absolutely necessary process.
Even if you are still wondering, it is free to open an account, so it is a good idea to just try it out and see what it is like with the application.
I remember I was anxious at first, so I opened the account and checked the price movements of bitcoin in the app for about a week.
To open an account, Coincheck is recommended for beginners.
There are many other good exchanges, but for beginners only, you can definitely start with Coincheck.
It is also a good idea to open other exchanges such as BitFlyer or Fobi Japan for free once you get used to them.
I have opened accounts at several exchanges.
To open an account, please use the complete guide with images of the procedure below as a reference.
>>>Open a free account at Coincheck
>>>Open a free account with BitFlyer
Huobi Japan Open an account for free
All of these accounts can be opened in as little as 10 minutes, so do it when you have time.
Try to buy virtual currency
Finally, you can buy virtual currency.
The following article, with images, explains how to buy a Coin Check.
In addition, there are two types of places where you can buy virtual currency: "sales offices" and "exchanges.
Although they may seem similar, they are completely different in nature and should be fully understood.
If you have extra time, please read the following articles for a better understanding.
Two things beginners to virtual currency need to know
There are two important things for beginners to keep in mind when continuing to invest in virtual currency.
These are the two.
Investing with surplus funds.
Be sure to do this with spare funds.
In extreme cases, this is money that you can afford to lose.
You really don't want to lose it, but what we are saying here is that you should not even use your monthly living expenses to do so.
Be sure to go with your spare funds.
Do not sell in a hurry
Next, it is important not to sell in a hurry.
Virtual currencies have been increasing in value while going through ups and downs in price.
Be prepared to withstand a temporary crash.
If you try to ma
ke money in the short term, you will become impatient, so try to think long term, for example, one or two years.
In summary: Understand virtual currencies and start trading safely!
How was your experience?
This article has explained the basics of crypto assets (virtual currencies), how to open a secure exchange and how to buy them.
Crypto assets (virtual currenci
es) are not scary at all if you understand them, and in fact, they are an effective investment tool.
Let's understand virtual currency correctly and get started as soon as possible.
That concludes this article.
Thank you for reading to the end.