There’s no denying that understanding cryptocurrency is tough.
So, here are the best ways that you’re free to make your crypto experience easier.
Losing track of what funds are where can happen easily in such a scenario.
The same goes for wallets here.
While most software crypto wallets are pretty straightforward, some are easier to understand than others.
The two major categories are Bitcoin and altcoins.
But the altcoin category has a wide range of subcategories, with these subcategories sometimes even having further categories.
For example, stablecoins are considered altcoins, but there are four different kinds of stablecoins.
There are also privacy tokens, utility tokens, and governance tokens.
You should also know that there aredifferences between crypto coins and crypto tokens.
This is where a crypto stats app could be handy.
Examples of such apps include CoinGecko, CoinMarketCap, and Crypto Bubbles.
Furthermore, many of these apps don’t just show crypto statistics.
Take CoinMarketCap, for example.
This is why passwords, private keys, and seed phrases are used in the crypto industry.
However, losing your private key or seed phrase isn’t like losing your Facebook password.
This is why organizing your private data and storing it very securely is important.
Know Your Options
The crypto market doesn’t just involve purchasing and selling digital assets.
There’s now a lot that you could do with your crypto funds beyond basic trading.
Staking, lending, borrowing, and futures trading are all options for crypto holders.
Many see this realm as only suitable for tech and finance pros, but this isn’t the case.
Using the tips above, you could simplify your crypto experience and keep things manageable and straightforward.
Always conduct your own due diligence and consult a licensed financial adviser for investment advice.
