I recently did an event with Gven ‘Swammi Crypto’ Sairol, where we discussed the power of cryptocurrency and how to invest in it.
Guys, crypto is an amazing new way to gain financial freedom and it’s been gaining popularity over the last few years.
Today, I’m gonna go a little over what crypto is and platforms on where you can buy and store crypto when you start getting into it.
What is Cryptocurrency?
So what exactly is cryptocurrency?
Simply, crypto is any form of currency that exists in a digital or virtual form. It uses cryptography to secure transactions.
Cryptocurrencies don’t have a central or regulating authority; instead, it uses a decentralized system to record transactions and issue new units.
Because of this, crypto doesn’t rely on banks to verify transactions and is recorded in a public ledger.
Bitcoin, for example, was the first cryptocurrency and came on the scene in 2009.
Now that you know what crypto is, let me start showing you how to buy and store it.
Jack McColl’s Recommendation for Buying Cryptocurrency
When it comes to buying crypto, there are several places you can buy, but just be aware that some sites will charge you a fee:
BlockFi (doesn’t charge a fee, but does inflate prices)
I actually use Coinbase Pro, which doesn’t charge a fee. Just go to the link provided above and create an account.
On the left side, select the option to make a deposit, either from a bank account of ACH, and complete the transaction.
The great thing about Coinbase Pro is you can immediately begin trading the money you’ve deposited and turn it into bitcoin.
Something very important to note – be sure that when you withdraw, you are withdrawing bitcoin to a bitcoin wallet or Ethereum to an Ethereum wallet.
The reason being is that, while these are both cryptocurrencies, they are different and are swappable.
Speaking of withdrawals and wallets, let’s get into where you can store crypto.
Credit Stacking Suggestions for Storing Cryptocurrency
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As with buying crypto, there’s also a number of different platforms where you can store your crypto:
Nexo
Pays you up to 8% of interest on your crypto
You can borrow up to 50% of your bitcoin amount
Voyager
Only available as a mobile app
Has multiple offerings for crypto
Also gives interest for crypto
I use both of these, though I lean on Voyager as my favorite between these two.
You can also buy and sell on the app, very easily and with a much better interface than Coinbase Pro.
Another thing Voyager does is show you how much you’ve made on a specific currency.
For example, if you’ve put in $10,000 over 6 months, it will show you the monetary gain and what percentage was made.
Other platforms don’t show you this, making you need to figure out this info on your own, which can be confusing if this is your first time trading.
Other Important Crypto Platforms
I mentioned earlier that there are different types of crypto and the importance of making sure that you aren’t swapping them, as they aren’t swappable.
However, you can use the site Uniswap to actually swap Ethereum for the smaller cryptocurrencies (like OMG) that aren’t on the major platforms.
Another great site is CoinGecko, which is an awesome resource for researching the different cryptos, such as market caps, what their pricing has been in different time ranges, etc.
And that’s it!
Crypto is a great way to further grow your investments, especially if you’re stacking credit for business purposes.
Using these two together can definitely expand your financial options.
If you’re looking to learn more about cryptocurrency or DeFi, check out the recent webinar I did with Gven.
And of course, be sure to sign up for our Credit Stacking community.