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Get Started with Crypto: A Beginner's Guide to Digital Wallets, Cryptocurrencies, and How to Stay Safe Online

Friday, December 16, 2022

How in the hell do I get started with crypto currencies? I have money but it’s so hard!

Let’s get in action!

A Wallet?

Bo seriously? I just got Apple-pay and other services so I don't have to carry that old thing around.

Yes we call this digital thing that holds your keys a wallet..

Keys in a Wallet?

Things get better believe me..

Get a ✒️ & 2 pieces of paper (this is already getting confusing right ?)

1. Click this link!🔗

2. Install the extension📇

3. Follow the instructions!👂

1. Don’t save phrases on your digital device.🐭

2. Not your Keys not your Cheese.🧀

You now have your own non-custodial wallet! It's very important to keep it safe and be aware of people who might try to harm you.

To buy NFTs or to interact with Dapps, you need a kind of digital money called cryptocurrency.

Bitcoin is a well-known type of cryptocurrency that is used for payments. Another type of cryptocurrency is Ethereum, which is more like an app store where you can get lots of different apps. There are also other types of cryptocurrency, like Vechain, Solana, and more. Each one uses its own type of tokens for exchange. For example, you need Ether to exchange goods or services on the Ethereum platform, VET on Vechain, and SOL on the Solana platform.

If you want to start using the Ethereum platform, there are a few ways to get Ether. One way is to use a Centralized Exchange, where you can exchange money for Ether. You can also do a peer-to-peer transaction, which is when someone sends you Ether directly. If you can, it's usually best to do an OTC-WAF (over the counter with a friend) transaction with someone you trust.

If you want to exchange your normal money for Ether, you can use a website like Coinbase. Just make sure to transfer the Ether to your digital wallet when you're done. It's important to remember that when you send cryptocurrency like Ether, the transaction can't be undone. This means that if you send the money to the wrong place, you won't be able to get it back. This is called having self-custody of your assets, which means you have full control over your money. While this is good, it also means you have a lot of responsibility. You can find the address for sending and receiving Ether in your Metamask. Just copy it from there to make a transaction.

Keep in mind that every time you make a transaction on the blockchain, you have to pay a small fee. The amount of the fee can vary. Now that you have some funds, you can use them to do all sorts of things!

Let me know if you have any questions or need help with anything.

Fred en bo KErst 2022 jpg

I'm Bo Smol 

Founder of the Dutch Web3 and owner co-owner of Fred (the dog)

I'm a web3 enthusiast living in the Netherlands and helping companies and individuals on a strategic and practical level. I also maintain and engage with over 2000+ people within the Dutch Web3 industry. I Help Agencies, entrepreneurs & Individuals understand and execute in Web3.