More and more people are considering whether to start investing in cryptocurrencies. However, how do you start your adventure with virtual coins if you haven’t been exposed to them before? And which cryptocurrency is sufficiently future-proof to be suitable for a first investment?
Start investing… but with what?
Cryptocurrencies are invested in through speculation. You acquire selected coins at a low rate and resell them when the value rises to a satisfactory ceiling.
However, speculation entails risks. It is related to either making a bad assumption at the start (wrong choice of cryptocurrency, so it does not gain value) or missing the point of bursting a speculative bubble (the currency gains value, but at some point its price quickly starts to fall). Choosing a good cryptocurrency and the right time to sell it requires acquiring knowledge of the basics of speculation.
Beginner investors may also not know the best way to acquire cryptocurrency. Online bureaux de change are a popular source of virtual coins, however, rigid rates often come with a high commission. An account on a cryptocurrency exchange, on the other hand, allows for high liquidity and dealing with day trading, however, it comes with the possibility of hackers attacking and taking over your account. When opening an account on an exchange, it is also important to verify your identity for tax purposes, as all cryptocurrency exchanges registered in the European Union are subject to regulations designed to counter cybercrime.
A recommended form of cryptocurrency acquisition for beginners is a cryptocurrency education package. The cryptocurrency is then purchased together with the training package, and no e-money wallet is required – storage is handled by an intermediary. These features make it the most affordable way for beginners to start investing in virtual goods.
Cryptocurrency package – for beginners
A typical educational package for beginners is a set of e-books, webinars and training materials discussing the technology and basics of investing in cryptocurrencies. Such packages usually come with a special code or card with which you can pick up a few units of your chosen cryptocurrency for free and start your first investments.
Most packages offer interesting, extensive training materials available as part of the package and include a comprehensive compendium of information not only on the latest trends in e-money investing, but also investing in general. All of this together makes cryptocurrency packages an extremely desirable item for anyone looking to get started with virtual currency investment.
Stellar – a cryptocurrency with new possibilities
Stellar is both a currency and a payments platform that aims to connect financial institutions and drastically reduce the cost and time required for cross-border transfers. A fork in the Stellar protocol in early 2014 culminated in the creation of the revolutionary new Stellar Consensus Protocol (SCP). Stellar is open source software that focuses on emerging markets and has many other applications for its technology, including remittances and bank loan distribution.
Stellar’s operation is similar to most decentralised payment technologies. It operates a network of decentralised servers with a distributed ledger that is updated every 2 to 5 seconds across all nodes. The most apparent differentiating factor between Stellar and popular coins, including Bitcoin, is the consensus protocol.
The Stellar consensus protocol does not rely on an entire network of miners to approve transactions. Instead, it uses the Federated Byzantine Agreement (FBA) algorithm, which enables faster transaction processing. This is because Stellar uses a slice of the quorum (or part of the network) to validate and validate transactions.
Each node in the Stellar network selects a different set of ‘trustworthy’ nodes. Once a transaction is confirmed by all nodes in that set, it is considered validated. The shortened process has made the Stellar network extremely fast and is said to process as many as 1,000 network operations per second. Stellar tokens (i.e. virtual coins produced by the network) are therefore considered an extremely future-proof solution.
Stellar package – new package, new opportunities
There is no denying that more and more educational packages offering new and interesting currencies have been created recently. Interest in the subject continues to grow, which means that people are still keen to grow and multiply their own wealth, and society needs new financial education solutions. This is exactly what educational packages offer, including a newcomer to the market – the Stellar Package.
As with many packages of this type, a code card is added free of charge to the Stellar Package. Such a card gives you access to a site where you can claim the free Steller cryptocurrency assigned to your account. It is worth noting that the code card is included with every Stellar Education Package, regardless of its value. Using the login and password provided, a cryptocurrency can be obtained, which the Stellar Starter Package owner can withdraw at any time. Only the intermediary managing the account and the customer have access to the account.
When to start?
If you are investing money for the first time, it is important to realise that you can make more money through a long-term investment strategy than if you hope to make a quick buck through day trading or a quick buy and sell of cryptocurrencies.
Before you start investing, it is a good idea to look for a good course or adviser first. A good educational package should understand your basic financial goals and offer several options for achieving them. You should also make sure you understand the risks involved in any investment before you decide to invest.
It is also worth being aware of the investment potential from a financial point of view. You should not invest money if you have a lot of debt or if you lack an emergency fund. Before investing, it is a good idea to take some time to get out of debt and set up an emergency fund for unexpected expenses. The emergency fund should be large enough to cover three to six months’ expenses.
One should also determine what one plans to do with the money earned. If the investor has plans to use it as a down payment on a house, the investment choices will ultimately be different to those for retirement planning.
In doing so, it is good to note that the Stellar Pack has a reputation for being a good solution for beginners, combining the theory of investing with the practice of its own currency. The bundle provides access to training, and also allows experience in investing in the modern cryptocurrency, Stellar. By far the great advantage of this type of product is that the customer pays only for the educational material, while the cryptocurrency is received free of charge. As a result, you can quickly start your first investment and embark on a cryptocurrency adventure that has the potential to last for many years to come.