OUR STORY It is said that the cardinal rule of investing is, 'Never invest more than you can afford to lose.' With that in mind, my wife and I set 200 USD as our initial amount for investing in cryptocurrency. The idea was to gain experience from the process of purchasing our first coin, the Cardano ADA, before investing more....
We went to YouTube and Google to research exchanges, and applied to CEX.io, Binance US, Coinmama, and Crypto dot com. Each has its procedures for validating an application, with varying degrees of rigor. I was not approved for Coinmama, but made it through the validation process of the others. I like the user friendliness of the CEX.IO App and support staff, but since CEX does not list our coin of choice, that exchange was eliminated from consideration. I did not like the Binance US App or the feeling I got from the exchange, so eliminated it as well. Crypto dot com offers VISA debit cards to make the movement of funds easier, an active community, great support, and an App that is elegant, intuitive and user friendly . I applied for a card, but haven't tried moving funds off the exchange yet, and don't know how secure it is to leave coins in the exchange wallet. Like Cardano, I appreciate the Crypto dot com mission of bridging with the legacy world of finance, and making cryptocurrency more accessible to the masses. I also like the overall sense of Crypto dot com as a progressive visionary exchange, and its referral fee program. Sign up from my referral link (https://platinum.crypto.com/r/djrhwfb35w) or use the code at their site (djrhwfb35w), and we both receive 50 USD. Regarding security, I understand that the virtual nature of crypto coins makes them vulnerable to hackers. So far, my focus has not been on security, as learning the process took priority and 200 USD is not high risk for me. However, a next step is to tighten my own security precautions. I installed the Emurgo Yoroi wallet mobile App, and will be testing its use for holding coins. I will also investigate the ledger device (such as the Ledger Nano X hardware wallet) for a higher level of security. Soon I may need to re-enter the world of Windows, when my crypto activities exceed the capabilities of an iPad. There is so much more to learn, that what I have experienced so far is probably the tip of the crypto iceberg. I do not see myself ever becoming immersed in the engineering language of developers and programmers, but perhaps I can learn to communicate and interface with them, bridging between us. Fiat money 'Fiat money is a currency established as money, often by government regulation, but that has no intrinsic value. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value.' - Wikipedia Cryptocurrency 'A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a digital ledger or computerized database using strong cryptography to secure transaction record entries, to control the creation of additional digital coin records, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority. 'Some cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. When a cryptocurrency is minted or created prior to issuance or held on a centralized exchange, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.' - Wikipedia
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