Introduction
Entering the world of blockchain investment starts with understanding the core process: Coin Selection → Exchange Choice → Registration → Verification → Funding → Purchase. This guide walks you through the first three steps with actionable insights for newcomers.
Step 1: Coin Selection — Understanding Mainstream Cryptocurrencies
Unlike traditional currencies (e.g., USD, CNY), cryptocurrencies use ticker symbols (e.g., BTC for Bitcoin). With over 800 options available, beginners should focus on established coins:
Top 20 Cryptocurrencies for Starters:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Cardano (ADA)
(Detailed profiles of these coins will follow in future guides.)
👉 Explore top crypto exchanges to trade these assets securely.
Step 2: Essential Tools for Research
Before investing, equip yourself with reliable resources:
- Blockchain explorers (e.g., Etherscan for ETH)
- Portfolio trackers (e.g., CoinMarketCap)
- News aggregators (e.g., CryptoPanic)
Avoid unverified third-party tools. Focus on platforms with transparent data.
Step 3: Onboarding — Fiat-to-Crypto Conversion
Most exchanges operate as crypto-to-crypto markets. To buy altcoins, first convert fiat (USD, CNY, etc.) into:
- BTC or ETH (high liquidity, volatile)
- USDT (1:1 USD-pegged stablecoin)
- BitCNY (CNY-pegged decentralized option)
Top Conversion Methods:
1. OTC Platforms (Peer-to-Peer)
- OTCBTC: Supports 8+ cryptos via Alipay/bank transfers.
- LocalBitcoins: Global BTC-only P2P marketplace with CNY support.
2. USDT Acquisition
Buy USDT through:
- Tether’s official channel (bank wire)
- Exchange C2C zones (e.g., with CNY deposits)
3. BitCNY Conversion
Available via Gugu Wallet (CNY deposits) → transfer to BitCNY-friendly exchanges.
FAQ Section
Q1: Which cryptocurrency is safest for beginners?
A1: Bitcoin (BTC) and Ethereum (ETH) offer stability due to their market dominance and liquidity.
Q2: How do I avoid scams during P2P trades?
A2: Use escrow services on reputable platforms like LocalBitcoins and verify trader ratings.
Q3: Why choose USDT over BTC for conversions?
A3: USDT minimizes price volatility during transactions, ideal for short-term holdings.
👉 Discover secure trading strategies to maximize your crypto journey.
Part 2 of this guide will cover exchange selection, wallet setup, and fiat withdrawals. Stay tuned!
Key Takeaways
- Start with high-liquidity coins (BTC/ETH).
- Use trusted OTC platforms for fiat conversions.
- Stablecoins (USDT/BitCNY) reduce volatility risks.
- Always research tools/exchanges before committing funds.
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