Since it was launched, Bitcoin has made its mark as one of the most profitable crypto coins in the market. Back in 2009, when Bitcoin was launched, many people didn’t believe that crypto coins would challenge fiat currencies and centralized financial systems.
The success of Bitcoin has led to the birth of many other crypto coins, which are collectively known as altcoins or alternative coins. In addition, more and more people are now losing their trust in centralized financial institutions and governments. Cryptocurrencies have some advantages over fiat, which makes them a better and more lucrative long-term option. These days, you can even get bitcoin loan from various online crypto exchange platforms.
Getting Your First Bitcoin
Most people purchase their first crypto coins using fiat currencies such as the USD or Euro. However, other people earn crypto by selling services or products in exchange for crypto tokens rather than cash. Buying Bitcoin is so much easier nowadays.
You will need to sign up for an account on your preferred crypto exchange platform. The sign-up process is pretty straightforward. All you need is an email address and you’re good to go. After that, you will need to verify your account and add your preferred mode of payment. Most exchange platforms allow users to buy crypto from their bank accounts using credit or debit cards.
Once you have bought your first Bitcoins, you’re now eligible to earn bitcoin loans instantly. Ideally, you can leverage your crypto assets without having to sell any. We discuss this more in the next paragraphs.
Say Hello to YouHodler
If you haven’t heard about YouHodler before, don’t worry. YouHodler is a crypto wallet service that offers other additional services to its users. Most hot wallets only offer secure storage for your crypto coins, but YouHodler is quite different.
Aside from offering wallets services, the platform offers crypto-backed loans. YouHodler will offer you a btc loan instant or a fiat currency loan while using your crypto savings as security for the loan. The main idea is you do need to sell your crypto in case you’re in dire need of cash or want to build your crypto portfolio.
If you’re saving your crypto assets on YouHodler, you can also earn 12.3% APR plus compounding interest. The earned interest is deposited into your account on a weekly basis. This almost translates to earning free Bitcoin.
Bottom Line
Investing in crypto is a risky adventure and you need to stay sharp before going all in. In the world of crypto, you will always come across the acronym, DYOR, which stands for do your own research. There are plenty of scams and most scammers are always targeting newbies. You can join online forums that discuss crypto topics to get a feel of what goes on in the crypto world. Lastly, always keep your fear of missing out in control. Not every new blockchain or token invented is worth investing in.
