Help:Getting started

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This is a guide to get started with a cryptocurrency, from buying it, to selling it, getting a wallet, and other things.

Choosing A Cryptocurrency

The first thing to do would be to read up on the different cryptocurrencies and find a couple that interest you. There are over a 1000 different cryptocurrencies (see full list here to choose from, and all of them represent something different. Some altcoins are just clones of bitcoin, or another coin, with different adjustments. Some coins have evolved into full blockchain platforms that allow developers to build on top of their blockchain (Ethereum and Lisk). Do your research, because unfortunately, it can be pretty simple for a scammer to create a valid looking cryptocurrency, and is just looking to steal people's funds.

Choosing an Exchange

There are many exchanges out there that allow trading of many different different altcoins. The biggest differences are going to be the coins that they offer, the security of your funds that they offer, and the fees or commissions that the exchange takes from each trade.

Once you have chosen the cryptocurrency that you are interested in purchasing, you must now find the exchanges that offer it to trade. Bittrex, Binance, Poloniex, and YoBit are some major exchanges that offer a hundreds of different altcoins, but there are even many coins that can't be found on any of these exchanges. Your more prominent cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple) will usually be listed on most exchanges, but typically the smaller the market cap, the less amount of exchanges will offer it.

Security is a very important factor in the exchange that you choose. While we recommended never keeping your funds on any exchange for a long period of time, we understand that it does happen, especially if you are trading daily. Most of the cryptocurrency hacks, or coins being stolen that have became major news, is usually due to a security flaw on an exchange, and users lose fund that were left on there. Most major exchanges will keep the majority of customer's funds in a cold wallet, which significantly lowers the chances of funds being hacked as they are not technically stored online.

Fees are going to be the other major factor in choosing your exchange. Generally, most exchanges charge a significantly small fee (usually less than 1%) of the total amount of a trade. This is very important when you are a day trader, or making many small transactions.