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Crypto Investment – Newbie Guide for 2022

Crypto investment

If you are still confused about Crypto investment, let me simplify it for you. It’s like buying stocks. How many of you have bought shares of a company before? You probably didn’t even know much about trading stocks, yet you bought stocks.

Someone helped you to buy it. Someone can also help you to buy your first cryptos or even be buying for you all the time. It’s your choice. But this group is to help you learn the basics so that you can handle most of your Crypto investments yourself.

“I have a group on WhatsApp where I explain crypto investment to newbies. Your an Join this group and have the opportunity to learn. WhatsApp have limited number of contacts that can be in a group. So, hurry to join now before it’s full.

Click this link to join my WhatsApp group 

What’s Crypto Investment?

Investors buy crypto coins or tokens to hold till the value appreciates and they sell it for profit. Some stake their cryptos or loan it through exchanges for an annual percentage return. These activities doesn’t require a daily routine like crypto trading.

At a while or at maturity, the coins or tokens can be exchanged back to stable currencies like Naira and dollar.

Cryptocurrency can be a good investment if you follow the right strategies for investment, which includes having a better understanding the crypto market. You cannot afford to start crypto investment without knowing the basics of crypto business. At this early stage of crypto market, it’s a highly profitable investment, with a long term assessment.

If you are hoping to invest now and reap it the next day you would be wrong. The shortest possible time to expect any reasonable return on your crypto investment is between 12 months and 5 years.

Crypto Investment Versus Trading

There’s difference between crypto investment and crypto trading. Although, what’s more popular and mostly advertised is crypto trading. Not much is explained about crypto investment.

Trading involves the pair for two crypto currencies or with an asset. Wikipedia summaries crypto trading as Cryptocurrency exchange that allows customers to trade cryptocurrencies for other assets. The purpose is to make quick gains, daily or depending on the duration of a trade. But in crypto investment you are not exchanging the currency for quick gain but for a long term return.

Buy to Hold Strategy

The best strategy for a newbie in Crypto is to buy and hold. This strategy doesn’t require any experience, and you can start immediately. You simply buy cryptos of your choice and hold them till when it appreciates and you sell them for profit. With as low as N1,000 you can start buying cryptos.

But for a newbie that may not be easier for you but have in mind that at least N5,000 can get you some coins. But on a professional note, I would recommend starting with between N30,000 to N100,000. Your an buy more as later too. Never stop buying. Well, as you learn more you can buy very cheaper when the coin is very new, like days or weeks old.

How to Buy And Hold

You can buy cryptos yourself. There are many crypto wallets you can use. In the last lesson I mentioned Trustwallet, Binance, Roqqu, Remitano and Crypto.com. There are so many other wallets. You will get to know more as you grow in the business.

To start buying, you learn of cryptos that are selling to buy. The wallets have features to help you buy them. You can also request the assistance of someone else who has been buying to help out for a start.

What to Buy And Hold

There are many Cryptocurrency coins available now. The most popular once are Bitcoin, Ethereum, ripples and the likes. But there are so many unpopular once. In fact, some cryptos just launched and some are yet to launch. What to buy is never in lack.

However, for a newbie focus on new coins. New coins are cheaper and has the potential to make you money as the price rises. You can purchase millions or billions of new coins at cheaper prices.

Where to Buy And Hold

New coins or shitcoins, as they are mostly referred cannot be bought from every wallet. There are different process of getting shit coins before they listed on major crypto exchanges. The number one place to buy shitcoins is TRUSTWALLET. You see why I said you should download trustwallet.

There are others but this one is very okay and simple to use. I will put a simple guide on how to download and activate trustwallet this evening for those who may issues with the process.

When to Sell Your Crypto Hold

If you are going to buy shitcoins, it’s better to buy them early. Most of these coins are released at $0.00000003, making them so cheap to buy. However, buying from Nigeria is a bit more ‘costlier’ since you can’t buy directly from your ATM card or bank. However, buying at any price around $0.000009 is still good if the coin is doing well in the market. But that would require more capital investment if you want to buy volumes.

So, if you bought at a good price, it’s upto you to decide at what price is good for you to sell. I always buy with projections. Like, if I’m buying a million coin, I’m thinking when can I be able to sell this coin. In 3 months, 6 months or 12 months? Then, I mark my selling price, either at N1 per coin or N10 or N100 or even $1 per coin. I can even mark it lower than N0.1. It depends on my coin volume.

Where to Sell Your Crypto Hold

While this maybe something you would require later but it’s also important we discuss it now. It’s a lot challenging to sell coins in Nigeria if you are just starting out. You know there’s a ban on banks by the government that stopped them from supporting Crypto trades. So selling your Crypto won’t be easy but it’s not impossible. Later, things would change but we have person-to-person (peer to peer) trading on most of the major exchanges like Binance and Remitano.

Finally, you have to make a choice to start today. If you want to buy yourself, go ahead and give it a try. If you need someone to help you out, go for it. I want to see those who are serious and would buy some coins today.

How Much It Cost to Buy Cryptos In Nigeria

Let’s analyze the cost implications of buying shitcoins in Nigeria. For most people they may feel cheated when they buy from a vendor. Yes, I felt that way in my first Crypto investment because someone helped me to buy it.

I didn’t wait till when I have known it all myself. I knew that crypto prices increased every second. I wanted in immediately. So, I used my mentor to buy my first cryptos. Although, I got some high figures, their dollar equivalent didn’t match with what I paid. At one transaction I queried him.

I felt cheated and decided to learn what he knows. I wanted to save cost for myself. However, I also faced some stack realities of what he was facing too. Although, you cannot compare the cost of buying it yourself to someone buying it for you. I will show you the difference in it.

Shitcoins Have Challenges

Shitcoins are cheap if you buy them early. But there are transaction costs as well. Sometimes the transaction cost are higher than the cost of the coins you are buying. Imagine buying a $10 coin and paying $9.80 as network fee.

That’s even the lesser challenge with shitcoins. Network fees can even be more if you are using Ethereum Network. If you don’t understand these you might pay higher than you could have paid. If you are buying it yourself, it could be a mistake you make if you don’t know about it.

When it comes to buying shitcoins, most of them ask for higher gas fees. Imagine paying over 30% of the volume of the coins you are buying as GAS FEE. Yes, in Crypto investment you pay gas fee, and it’s the major charge when buying or selling shitcoins.

The real cost issue with buying shitcoins in Nigeria is that we have little options of payment. With banks banned by government from supporting Crypto purchased, you can’t buy cryptos with your ATM card. You are not even allowed to do Crypto transactions with the bank.

So, be careful with what you do when buying Crypto, so you don’t put yourself into trouble. That’s why you need to learn first and understand many things before you start your crypto investment.

Where to Buy Crypto Yourself

Okay, it’s time to talk about do it yourself Crypto buying option. You need to know how to buy cryptos yourself. It’s nothing difficult but you will need some guide. There are also videos that can help you.

I will advice you decide first Crypto websites or apps you are going to use then learn how to use that website or app. Although, in Crypto you may need to use multiple sites and apps to operate your Crypto investment.

Your first step would be to signup to some of these websites and apps. I recommend you first register on the websites, then download the apps to use . Unless the site only has app.

Here are my selected websites and apps where you can buy cryptos in Nigeria. Note that each site or app may have certain advantages you may need. So, I recommend that you register in multiple Crypto Exchange sites. I’m registered in all the wishes I’m sharing with you here.

Trustwallet

This one is a must have. It’s just an app, and it doesn’t have a website. You can download the app on google play store or IOS store. If you are going to be in eating in new and unlisted coins you will need trustwallet.

Binanca Exchange

This one is another must have. It has both website and app. I buy most of my cryptos here. It offers Nigerians peer to peer (PP) transaction, where you can buy coins from sellers in Nigeria. Since Nigerian ATM is banned in Crypto sites, we only use (PP) transactions to purchase coins online.

Here’s the link to register for an account on this site:

Binance website link

Remitano Wallet

It’s also one account that works for Nigerians. The company is based in South Africa. One of their main market is Nigeria. So, you will be okay doing business on this platform.

Here the link to register on the Remitano site:

Remitano website link

Roqqu Wallet

It’s purely a Nigerian exchange. It as working fine before the government ban. They are trying to revive it back. It depended solely on the bank transactions and it was the best because you can easily cash out into your Nigerian bank account. They are coming back strong, so you should also get an account here.

Here the link to register on the Roqqu site:

Roqqu website link

These platforms are good for you to start. I advice that you register on these platforms today. Don’t leave for next time. If you are serious about investing in Crypto, one this you shouldn’t do is procrastinate.

Join A Crypto Group

You need to join a Crypto group to learn even more. I have a Crypto WhatsApp Group your an Join to learn more for free. Follow this link to join my WhatsApp group: 

How To Get FREE Cryptos

In the world of cryptos you can enjoy a lot of freebies. It’s only in cryptos that give aways are real. Few days ago, I woke up to 1 billion FREE coin. It may not worth anything today, but it might worth so much in the future. When Bitcoin and Ethereum started they were first giving away to people. Those free coins made so many millionaires.

My special give away was meant to help you learn and prepare you for the lessons I’m about to share with you this week. Using wallets like Trustwallet and their likes requires you know how to activate coins, buy coins through pancakeswap and swap 1 coin for another coin. If you are not following the give away, even if you don’t submit an entry, do the assignment. It’s to help you learn.

Welcome to this special lesson where I will teach you how free crypto coins work. In fact, starting from today I will be sharing opportunities to get free coins. It will be a huge bonus for joining this group. But first, let me explain how it works.

Types of Free Coin Drops

There are two types of free coin drops. There are Airdrops and Selfdrops. These are give aways from either yet to be launched cryptos or already existing ones that doesn’t have lots of holders yet.

The deferred ones are usually free, while the instant ones would cost you some tinny Network transfer fee.

Each one takes different process as well. The Airdrops requires you to do some tasks and get listed to receive the free coins at a certain date set by the crypto company. But the Selfdrops not so free instant one, which require you pay Network fee to receive it instantly, doesn’t require any task from you.

How Much FREE Coins Do You Get

If you are new in Crypto world you might be scared by the figures being mentioned – millions, billions, trillions, quadrillion, etc. I got 1 billion free coins recently. In fact, I could get up to 10 billion free if I wanted. Instead, I chose to buy 250 billion of the coin.

There’s no limit to how much coins you can get for free. There are many free coins flying around in the crypto world. Once a new Crypto is coming out, many of them do free give aways to get lots of attention and grow their holders address.

In the WhatsApp group, I will be posting many of them for you. Below are some of the recent free coins you can take advantage of now. That’s why I asked you to get *TRUSTWALLET*. If you have your wallet downloaded, now is the time to use it to get free coins.

However, you need to have a different wallet for airdrops than for your paid coins. Don’t wait to find out why. Just do as I said.

NOTE – Airdrops are also risky. It can help hackers have access to your account. That’s why you don’t just go for every airdrop you see. If you are new follow the advice of someone who knows better than you.

Click this link to join my WhatsApp group:

How To Download & Activate TrustWallet

If you have not downloaded TRUST WALLET here’s what to do now. You need an android phone with an internet.

Step 1: Go to Google play store
Step2: Search for Trustwallet (the image should look like this)
Step 3: install
Step 4: Open
Step 5: read and follow the instructions in the app to activate it

Note: It doesn’t require password or email. But it gives you some keyword phrase. Keep those keyword phrase secured. It’s your only password to access the wallet when you download into another phone or need to recover your wallet.

How to Create A Second TRUSTWALLET Account

It simple to have a second wallet inside your existing trustwallet. That’s why your wallet has name. The name is to help you differentiate one wallet from another. Now that you have named your first wallet, it’s time to create a second one and name it as well.

To start, click on SETTING at the bottom right corner of your Trustwallet. As it opens, click on Wallet and click on the PLUS + sign at the top right corner of the screen. And it will open for you to start creating a new wallet as you did the first time. Remember to also save the 12 keyword seeds. It’s a separate account. But it works together in the same app.

Steps To Buy Coins With Trustwallet

We have talked about Airdrops. You need it. It’s not every coin you should buy. More than 50 percent of the coins out there will fail. That means you will lose your money in them. Buying coins it not 100% secured investment. There are risks too. So, you need to find ways to get some for free. Like I advised, create a separate wallet for your free coins.

However, today we will be looking at how to buy shitcoins. In this case, I’m only going to address buying it from trustwallet. I hope you have downloaded trustwallet. I will advice that you also practice buying it yourself.

Here are the easy steps to follow:

Step 1: Download the App TRUSTWALLET and setup your wallet
Step 2: Purchase BNB or BSC (Binance Smart Chain)
Step 3: Go to DApps tab in your Trustwallet and click on PancakeSwap
Step 4: Change the network logo from Ethereum to Smart Chain
Step 5: Connect your Trustwallet to PancakeSwap
Step 6: Click select a currency and enter the contract address into the search box for the shitcoin you want to buy and select the coin when it’s displayed.
Step 7: Before swapping, click on the wheel (cog) and set slippage to the right percentage for the shitcoin.
Step 8: Set the amount of BNB you want to spend for the shitcoin and press the PancakeSwap button.
Step 9: Confirm the transaction is correct and click continue.
Step 10: Verify the network fee amount and total amount you are paying for the shitcoin and Confirm Transaction.

Conclusion

Starting out in crypto as a newbie may be a little confusing trying to understand how the whole process work. It’s usually easier to buy the major crypto coins, but not so easy when you have to deal with shitcoins.

But your success as a newbie starts with understanding shitcoins. Unless you have money to invest in major coins like Bitcoin and Ethereum, your starting point is with shitcoins.

Click this link to join my WhatsApp group:

Chinedu David
Chinedu David is a business consultant with experience in oil & gas, hospitality, IT & telecom, consumer products, business strategy, marketing and distribution. He was the telecom editor for SuccessDigest for over a decade. And founded Mystore, one of the indigenous online marketplace in 2013. Drop a comment below and he will respond to your query. He can also be reached via email: nedu@myblog.com.ng or Call/Text/WhatsApp: 07087770518
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