Cryptocurrencies got a good wind in 2021 and set new records.
Remember 2017, when the world hit the first crypto fever? Have you at that time silently noticed and thought that cryptocurrency is a one-day-fly crazy? Nobody can blame you for this kind of thinking, as the cryptocurrency market is unpredictable, which is also a common reason to scare users with investing. Maybe you are a user who promised themselves in 2017 to be ready for the next crypto wave? If so, maybe 2021 or 2022 is the right time to join the digital world. Let’s see why now is a good time to invest.
In the summer of 2021, the price of Bitcoin suddenly dropped by about half its value. Market experts prepared for fall as they realized the symptoms, especially since they had been so heavily exposed to the media. We’re talking about Elon Musk and his tweet that electric giant Tesla will stop dealing with Bitcoin until the way to get Bitcoin becomes more environmentally friendly. During the same period, China got very close to cryptocurrencies and banned mining. The drop was followed by a slight lull that savvy investors took advantage of and amassed some Bitcoin shares for the next rally. They didn’t wait long, as bitcoin hit a record high in recent months. At the time of writing, it was between 40,000 and 50,000 euros. With one Bitcoin, you can earn up to 3 times the value within a few months.
Interestingly, 90% of all Bitcoin stocks are already in the market today. But do not worry. Despite their limited supply, miners are expected to “dig” all 21 million units available by 2140. Not all of them will be for sale. why? Experts estimate that 3.5 million bitcoins have been lost due to forgotten passwords that unlock cryptocurrencies, the death of their owners and similar reasons. One million bitcoins are owned by the father of this most famous cryptocurrency, its creator, Satoshi Nakamoto.
Where to invest money in 2022
When we write about how much can be earned by investing in cryptocurrencies, of course, Bitcoin is not the same impressive amount we saw in 2017. At that time, some users sold Bitcoins from 2010, when they were worth less than a dollar and Also earn millions of dollars each. The first crypto millionaires appeared. But the rise this year, which has also attracted newcomers, proves that those who own it can enrich their assets well. Moreover, the magic of digital currencies lies in the fact that anyone can start trading at any time.
How does cryptocurrency trading work? We recommend that you first familiarize yourself with the blockchain technology on which cryptocurrencies are based. Explore the market, look at different cryptocurrency wallets and learn the difference between coins and tokens. In short: Coins like this bitcoin have the same characteristics as money. They are interchangeable, divisible, passable, transferable, permanent and have a limited stock. Tokens, unlike coins, do not have their own blockchain, but run on the blockchain of other cryptocurrencies, such as Ethereum. This means that creating tokens is easier than creating coins, as there is no need to create a new token or modify existing ones. While coins are used as cash, tokens are used for a specific use or security.
As with any investment, it is important to emphasize that your success depends on knowledge, choice of the right moment, patience and the value of the investment. Where to invest money in 2022? How do you start? First you need to choose a crypto platform or exchange, such as Binance, which has 50+ cryptocurrencies and low commissions for trading.
Then, as with any website, go through the registration process and you are ready to trade.
To facilitate the presentation, the editorial staff has decided to guide you through the entire process of registering on the Binance crypto exchange until your first investment.
How is Binance registered?
You must first register with the largest cryptocurrency exchange or platform in the world, Binance. We are also registered with Binance here. You must first select and confirm your country of residence. So click on the Confirm button.
In the next step, create an account – select “Create an account”.
A page will open with boxes where you enter your email address and come up with a strong password that you will later use to log into the Binance platform. Click Next, Next.
You will then receive a 6-digit verification code at the email address you entered in the previous step, which you will copy into the boxes below.
Then enter the phone number and click Next.
So. The account has been created. Now you have to confirm it. Click “Check Now”.
The Binance registration process will require some additional information from you in this step. The process is not the shortest, but you can be sure that the security of your account on the Binance platform in this way is fully taken care of.
Enter your name, surname and date of birth. Click Continue.
So that you don’t really have to worry about security, the exchange additionally verifies the authenticity of your identity by sending a photo of your ID, passport or residence permit, taking a photo with the help of a webcam and taking a “selfie” at home. Before that, click Continue.
A step we hope you’ll override, but still right to describe. It happened to us that after pressing the “Continue” button, a thumbnail appeared below. We tried again – we pressed the “try again” button … and we were already able to continue recording.
A window will open where you must agree to Binance’s terms. Then click “Next” and in the next window select the country from which you come and the document with which you will verify the account.
Now you choose what you want to check. Will it be an ID card, passport or residence permit? We chose ID because we always have it on hand and this time we have it too. Then click the Next button.
In the next step, hold both sides of the ID in front of the webcam (click “accept” for each page)…
… and take a picture of your face with the help of a webcam. Be patient. If it doesn’t work right away, slowly move your face left and right so the camera can detect it as much as possible. If necessary, move a little closer to the camera or a little further.
Then you have to confirm your permanent residence again by entering the address and clicking “Cotinue”.
To make it even more secure, follow another method of identity verification. You need to import one of your existing electronic invoices into the system and addressed to your name. We added the electric bill and clicked “Continue”. No problem, we’ve taken the system to the next step.
Below are some classic questions, such as why you will use Binance and what is the primary source of funds you intend to invest. Plus whether you are an employee, student, retired, etc. and how much money you intend to trade.
Your account has been verified. Click OK.
A new window will open where you click on “Back to Home Page”.
How do you deposit money and start trading?
Here, however, your exploration starts well. To trade, you must first load funds. But not just for talking, we also decided to try our hand at trading. Given that we have no special knowledge, we will try our luck. However, we have also invested several hundred Euros in cryptocurrencies in the past, also for the purposes of the article, and we have succeeded. We didn’t get rich, but the amount increased. We decided to deposit a good 200€ in Binance on the newly created account. How did we do that?
We clicked on the “Wallet” option in the top right and then in the drop-down menu on “Fiat and Spot”.
Then we decided to deposit the Euro which we also set. However, among the many options, we decided to deposit money from a bank card because it seemed the easiest to us. This is followed by a click on “Continue”.
Enter your card details and click “Next”.
It remains for us to enter the amount we wish to invest in cryptocurrency trading.
The system reminded us that we also need to confirm the online purchase in the bank’s mobile application, which we did. We have invested our money successfully.
We made our first trade
However, since we registered with Binance and uploaded Euros to start trading, we also tested it out and made our first trade. On Binance you can choose from many cryptocurrencies. We chose 5 of them, known and lesser known. So we click on Bitcoin, for example.
The page you see below opens. Here we have clicked “Use Euros to Buy”.
Then we entered the number of Euros we wanted to invest in buying bitcoins. We decided 100 euros and click “Continue”.
So we made the purchase. Not just BTC (Bitcoin). We bought another €50 for ETH (Ethereum), €20 for LUNA (Terra), €15 for MATIC (Polygon), and €15 for GRT (chart).
Try your hand at trading. If you are watching the market, it is sometimes beneficial to invest in cryptocurrency elsewhere – even when we are already investing. For example, sell one cryptocurrency (with which we may have earned something at the moment) and invest it in another. For example, we have already converted the 15 euros that we invested in the GRT into euros, and we will invest it elsewhere. We will monitor what happens to our investments and prepare articles on this topic. It will be interesting to see what happens in the coming months, and for us, above all, whether we will be able to earn an inaugural lunch.
Now we have a fun waiting for a cryptocurrency to wake up. If we invest our money well, our investment will soon pay off.