15 step guide for
Crypto and NFT beginners 

1.  How to start (bank card or credit card)

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• Decide how you would like to get your money from your fiat into cryptocurrency. most exchanges allow either credit or debit to keep things simple. To be more secure, I would recommend a credit over interac/debit. In a worst-case scenario if your accountgets breached its a lot easier/quicker to recover funds through a credit bureau then a bank.

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2. Pick an exchange:

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• Once you've decided how you will buy into crypto, pick an exchange such as crypto.com. Coinbase, Kucoin, Binance, Bitbuy, etc. These will be your main hub's to transfer to fiat into crypto. In order for you to be able to fully indulge in all of its features, you will be required to sign up with your government issued photo I.D. Also you may be required to enter some additional information such as address,age,birthplace, etc. This way everything is official and according to provincial law and tax regulations. After you've selected an Exchange you'd like to use going forwards there will be a wallet setup required in order to do anything, this part is VERY IMPORTANT. When creating a new wallet every new account will have whats called a mnemonic/seed phrase. (NEVER GIVE THIS PHRASE TO ANYONE AND WRTITE IT DOWN ON SOMETHING NON ELECTRONIC AND STORE IT FOR SAFE KEEPING< IF YOU LOSE THIS YOU WILL NOT BE ABLE TO RESTORE YOUR CRYPTO ACCOUNT.) Most exchanges will require what's called a 2-FA which is necessary in order to prevent potential hacks.

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​3. Select how you'll deposit fiat:

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• After you've chosen which method you'd like to take in terms of depositing and anexchange you'd like to use, you will pick either a currency to buy into, or to input money into your exchange as fiat for later usage. In some cases, exchanges will require a minimum amount in order to deposit into crypto. It can varu anywhere from $0.01-$100 depending on the exchange. After the input is complete it is time to figure out what crypto currency you want to invest into.

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(minimum buy in from a interac/bank card on crypto.com exchange is $0.54)

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​4. Buying Crypto currency:

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• It is important to know, when you do anything on any blockchain that the transaction is there forever. You can view every transfer and transaction that happens through a blockchain explorer. (Ex. To track any movement on ethereum i would use etherscan.io and search my ethereum Wallet I.D.) When choosing a crypto currency to buy into there is alot you can look into in order to ensure your safety on your investment. Once you view a crypto currency on a exchange there will likely be a biography/description of the crypto currency explaining what the purpose is and what utility is to come from the project. You can also view the holders, total amount of that crypto currency in circulation, and who holds what amount. From there it's up to you to D.Y.O.R and decide which crypto currency you believe in, basically is the same with NFT projects theirs a token behind the PNG image(nftart). I'd recommend picking crypto's that are looking to benefit the industry such as tokens like shiba inu or Ethereum.

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​5. Swapping Crypto currency:

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• Once you own a crypto currency and you've decided, your ready for some change or you'd just like to spread that money across different crypto currencies, there's only a few steps necessary in order to do this. First you'll find the other ctypto you'd like to invest in>click receive>then copy address> and then ypu would go back to the initial crypto you bought into and click swap/trade/or sell. It will then give you a list of options for you to pick from such as other cryptos(swap/trade) or back to fiat(sell) to then buy back into the new token that you'd like.

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6. Selling crypto currency to fiat:

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• In order to get that cryotc currency back into your fiat account you would then click the crypto currency your holding and sell it to fiat. After its sold into fiat you then have the availability to withdraw it via debit or credit. (Some Exchanges may have a minimum when it comes to withdrawals in fiat, so ensure before inputting too much miney in how much will incase you need that money back out shortly after.) This part is usually fairly easy but may take a few days for the first withdrawal. The app you choose to use crypto investing will usually let you know an estimation of time for the withdrawal.

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7. Exporting Crypto to 'Hot" wallet:

• When moving crypto from exchange to wallet, there's a few things you need to look out for.

1.  Ensuring the blockchain your using for this token is either the same on both sending and receiving end.​

2. Selling a partial amount back into fiat or a stablecoin, in order to swap it over correctly and to ensure no loss of funds in transfer.

    

     When swapping from an exchange to a 'hot' wallet it's EXTREMELY IMPORTANT you ensure what blockchain it functions off of.( Ex. if i want to swap .01 Ethereum into Bitcoin, I'd need to make sure the ethereum is in the right blockchain, which in this case it would be BSC(Binance smart chain). From there i'd go to my account and select my .01 Eth to swap into BTC(bitcoin). If it's within the EXCHANGE, no problem. If its outside the EXCHANGE BE SURE ITS THE SAME BLOCKCHAIN ON BOTH ENDS. If not the funds will get lost in between transfer and would be complicated if not impossible to get back.)

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​8. Blockchains:

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​8. imagine a blockchain as internet and the cryptocurrencies are items. in order to sell your item you would need to ensure its on the right internet provider. in this case ethereum is on ehtereum blockchain. for me to trade it I CANT just swap it to to another internet provider, i would need to swap it to a middle man in order to ensure it goes to the right provider. The middle man in this case would be either your exchange or stable coin. Before swapping this crypto into the new provider you'd click the new item and ensure what blockchain it functions on then bridge the item to the proper provider prior to trading. This is good practice to do within an Exchange prior to sending to a "hot wallet" Meramask, TrustWallet and Wallet connect are all good examples of hot wallets.

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​9. Cold storage wallet:

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• A Cold storage wallet is something i believe is necessary within the crypto community if your trading or investing an amount greater then your willing to lose. if this is you in that case you would want to transfer valuable assets into a cold storage wallet where you dont anable any permissions other then transfer funds to and from an account. These wallets are optimized to have the highest security when used properly. An Example of a cold storage wallet would be Ledger, Trezor and safepal.

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​10. Centralized & Decentralized:

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• Centralized crypto currency exchange, the idea of centralization refers to the use of a middle man or third party to help do transactions. Buyers and sellers both trust this middle man to handle their investments. This is a common practice with banks, where a customer trusts the bank to hold his or her money.

• A decentralized exchange(DEX) is a wallet to wallet marketplace where people can trade crypto currencies without the need of a middle man to help mitigate the transfer of funds. In theory, using an Exchange will be safer than using a decentralized exchange. I'd like to mention that with DEX you'll be able to view way more options in regards to crypto currrency tokens comoared to an exchange. This reason is because crypto currencies that aren't yet available on an exchange need to establish reputation for themselves and secure a liquidity pool prior to getting officialy listed. This being said there is more money that can be made or more that can be lost, depending on what you invest in.

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​11. Cryptocurrency

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• Cryptocurrency can be viewed in a variety of different forms. From crypto on exchange tpo decentralized crypto even what's called Wrapped crypto and etc. There is such a enormous number of crypto currencies that exist up to date and many more that are created every day. with that being said you need to be cautious on what your looking into, what crypto currency it is and on what blockchain it runs on. Certain crypto currencies will likely need to be wrapped in order to transfer or move it on a specific blockchain.(Ex. I'd like to place a bid on an NFT, when doing so it cant be done with ETH it will need to be swapped into wrapped ethereum(WETH). Essentially masking the token to function properly on the ethereum blockchain). Wrapping happens with a variety of different tokens but not every crypto will have a wrapped varient. Some will need to be traded or sold prior to swapping to ensure it doesn't get lost between blockchains.

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12.Staking 

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• Staking from my perspective is holding a crypto currency and receiving a passive income in crypto. So the more money you stake the higher the potential is for earning more passive income. Depending on where you stake your crypto you can earn anywhere from 3% to 100+% APR. Essentially your locking up your crypto for X amount of time in return for partial free earning from blockchain transactions. Within an exchange you'll be able to find where you can stake your crypto currency. And if you go a little deeper in the DEX you'll be able to find some serious goldmines with HUGE returns.

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​13. Mining

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• Cryptomining is necessary in order for most blockchains and cryptocurrencies to function. With mining you'll be able to set up a computer to solve algorithms to help push transactions through on the blockchain. When someone trades ETH there's a minor blockchain fee which has a portion of that paid out to all the ETH miners who are mining Ethereum at the current time. In order to mine you need either a mining rig or to set up a custom computer for mining crypto. Most cases, people will use high end graphic cards with high cooling performances in order to receive good return in crypto. The more graphics cards you have running the more crypto you earn just leaving the machine running. Keep in mind you'll have to factor in the price of electricity in your region per kilowatt and compare it to how much ebergy you pull out of the machine to factor you proper earnings. This is another great way of earning an extra income with crypto.

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14. Non Fungible Tokens(NFT):

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• Non Fungible Tokens are also known as NFT's. The NFTs are almost like buying a membership into someone's project with instead of receiving crypto in exchange for your investmens you'll gain what's called a NFT which still holds value in crypto depending on what blockchain it's being sold on. If the project you invest in executes a phenomenal roadmap and continues to execute in such a way, the potential in earning could be upwards of 10x your initial investment. Not always will every NFT do exactly as they say they will but that's where you come in and do you D.Y.O.R to decide on if your willing to invest in the idea of there project.

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To be continued.....